Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-31402023-08-01falseNo description of principal activity40truetruefalse 03078164 2023-08-01 2024-07-31 03078164 2022-08-01 2023-07-31 03078164 2024-07-31 03078164 2023-07-31 03078164 c:Director1 2023-08-01 2024-07-31 03078164 d:Buildings d:LongLeaseholdAssets 2023-08-01 2024-07-31 03078164 d:Buildings d:LongLeaseholdAssets 2024-07-31 03078164 d:Buildings d:LongLeaseholdAssets 2023-07-31 03078164 d:Buildings d:ShortLeaseholdAssets 2023-08-01 2024-07-31 03078164 d:FurnitureFittings 2023-08-01 2024-07-31 03078164 d:FurnitureFittings 2024-07-31 03078164 d:FurnitureFittings 2023-07-31 03078164 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 03078164 d:OfficeEquipment 2023-08-01 2024-07-31 03078164 d:OfficeEquipment 2024-07-31 03078164 d:OfficeEquipment 2023-07-31 03078164 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 03078164 d:ComputerEquipment 2023-08-01 2024-07-31 03078164 d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 03078164 d:CurrentFinancialInstruments 2024-07-31 03078164 d:CurrentFinancialInstruments 2023-07-31 03078164 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 03078164 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 03078164 d:ShareCapital 2024-07-31 03078164 d:ShareCapital 2023-07-31 03078164 d:CapitalRedemptionReserve 2024-07-31 03078164 d:CapitalRedemptionReserve 2023-07-31 03078164 d:RetainedEarningsAccumulatedLosses 2024-07-31 03078164 d:RetainedEarningsAccumulatedLosses 2023-07-31 03078164 d:AcceleratedTaxDepreciationDeferredTax 2024-07-31 03078164 d:AcceleratedTaxDepreciationDeferredTax 2023-07-31 03078164 c:OrdinaryShareClass1 2023-08-01 2024-07-31 03078164 c:OrdinaryShareClass1 2023-07-31 03078164 c:OrdinaryShareClass2 2023-08-01 2024-07-31 03078164 c:OrdinaryShareClass2 2024-07-31 03078164 c:OrdinaryShareClass3 2023-08-01 2024-07-31 03078164 c:OrdinaryShareClass3 2024-07-31 03078164 c:OrdinaryShareClass4 2023-08-01 2024-07-31 03078164 c:OrdinaryShareClass4 2024-07-31 03078164 c:OrdinaryShareClass5 2023-08-01 2024-07-31 03078164 c:OrdinaryShareClass5 2024-07-31 03078164 c:FRS102 2023-08-01 2024-07-31 03078164 c:Audited 2023-08-01 2024-07-31 03078164 c:FullAccounts 2023-08-01 2024-07-31 03078164 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 03078164 d:WithinOneYear 2024-07-31 03078164 d:WithinOneYear 2023-07-31 03078164 d:BetweenOneFiveYears 2024-07-31 03078164 d:BetweenOneFiveYears 2023-07-31 03078164 d:MoreThanFiveYears 2024-07-31 03078164 d:MoreThanFiveYears 2023-07-31 03078164 c:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 03078164 2 2023-08-01 2024-07-31 03078164 6 2023-08-01 2024-07-31 03078164 1 2024-07-31 03078164 1 2023-07-31 03078164 f:PoundSterling 2023-08-01 2024-07-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 03078164









HURFORD SALVI CARR LIMITED









FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

 
HURFORD SALVI CARR LIMITED
REGISTERED NUMBER: 03078164

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 6 
193,054
210,779

Investments
 7 
100
45,387

  
193,154
256,166

Current assets
  

Debtors: amounts falling due within one year
 8 
244,885
366,783

Cash at bank and in hand
 9 
1,644,711
1,468,939

  
1,889,596
1,835,722

Creditors: amounts falling due within one year
 10 
(600,770)
(444,551)

Net current assets
  
 
 
1,288,826
 
 
1,391,171

Total assets less current liabilities
  
1,481,980
1,647,337

Provisions for liabilities
  

Deferred tax
 11 
(9,032)
(5,135)

  
 
 
(9,032)
 
 
(5,135)

Net assets
  
1,472,948
1,642,202


Capital and reserves
  

Called up share capital 
  
6,053
10,000

Capital redemption reserve
  
3,948
1

Profit and loss account
  
1,462,947
1,632,201

  
1,472,948
1,642,202


The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
HURFORD SALVI CARR LIMITED
REGISTERED NUMBER: 03078164
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 January 2025.




D Salvi
Director

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
HURFORD SALVI CARR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Hurford Savi Carr Limited (the 'Company') is a private company, limited by shares, registered in England and Wales. The Company's registered number is 03078164, and registered office is Leytonstone House, 3 Hanbury Drive, Leytonstone, London, England, E11 1GA.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Revenue represents commission received on services provided to customers and is recognised on the following bases:
 
Commission on the property sales is recognised on the exchange of contracts;
Commission on letting and renewals is recognised at the date of invoice; and
Commission on management and other minor income streams are recognised in the period to which the underlying fee income relates.

Page 3

 
HURFORD SALVI CARR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Page 4

 
HURFORD SALVI CARR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following annual basis:

Short-term leasehold property
-
in accordance with the lease term
Fixtures and fittings
-
15% on cost
Computer equipment
-
33% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. 

Page 5

 
HURFORD SALVI CARR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 6

 
HURFORD SALVI CARR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Employees
40
40


4.


Exceptional items

2024
2023
£
£



Intercompany loans written off
438,000
-

Impairment of investment in subsidiary
400,000
-

838,000
-

During the year the group underwent a reorganisation in which a subsidiary ceased trading and post year end was subsequently struck off. 


5.


Client monies

At the year end the Company held in trust client monies in the client account. This balance has been excluded from the assets and liabilities of the Company.

Page 7

 
HURFORD SALVI CARR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

6.


Tangible fixed assets





Short-term leasehold property
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 August 2023
711,021
152,021
51,676
914,718


Additions
-
28,912
2,255
31,167



At 31 July 2024

711,021
180,933
53,931
945,885



Depreciation


At 1 August 2023
526,911
133,777
43,251
703,939


Charge for the year on owned assets
32,210
10,364
6,318
48,892



At 31 July 2024

559,121
144,141
49,569
752,831



Net book value



At 31 July 2024
151,900
36,792
4,362
193,054



At 31 July 2023
184,110
18,244
8,425
210,779

Page 8

 
HURFORD SALVI CARR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

7.


Fixed asset investments





Investments in subsidiary companies
Listed investments
Total

£
£
£



Cost or valuation


At 1 August 2023
100
45,287
45,387


Additions
400,000
-
400,000


Disposals
-
(45,287)
(45,287)



At 31 July 2024

400,100
-
400,100



Impairment


Charge for the period
400,000
-
400,000



At 31 July 2024

400,000
-
400,000



Net book value



At 31 July 2024
100
-
100



At 31 July 2023
100
45,287
45,387

See note 4 for details on movements in investment in subsidiary. 

Page 9

 
HURFORD SALVI CARR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

8.


Debtors

2024
2023
£
£


Trade debtors
88,224
19,924

Amounts owed by associated undertakings
39,994
103,728

Other debtors
1,426
7,225

Prepayments and accrued income
115,241
235,906

244,885
366,783



9.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,644,711
1,468,939



10.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
76,538
123,605

Corporation tax
247,723
45,191

Other taxation and social security
224,983
202,873

Other creditors
159
1,047

Accruals and deferred income
51,367
71,835

600,770
444,551


Page 10

 
HURFORD SALVI CARR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

11.


Deferred taxation




2024


£






At beginning of year
(5,135)


Charged to profit or loss
(3,897)



At end of year
(9,032)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
9,032
5,135


12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



Nil (2023 - 10,000) Ordinary shares of £1.00 each
-
10,000
4,250 (2023 - Nil) Ordinary A shares of £1.00 each
4,250
-
500 (2023 - Nil) Ordinary B shares of £1.00 each
500
-
1,000 (2023 - Nil) Ordinary C shares of £1.00 each
1,000
-
303 (2023 - Nil) Ordinary D shares of £1.00 each
303
-

6,053

10,000

During the year, the 10,000 Ordinary shares were reclassified as 3,947 Ordinary A shares and 6,053 Ordinary B shares. The Ordinary A shares were then re-purchased and subsequently cancelled. 
5,553 Ordinary B shares were then reclassified as 4,250 Ordinary A shares, 1,000 Ordinary C shares and 303 Ordinary D shares.
The shares rank pari passu in all respects.



13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £37,238 (2023 - £24,671). No contributions (2023 - No contributions) were payable to the fund at the balance sheet date.

Page 11

 
HURFORD SALVI CARR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

14.


Commitments under operating leases

At 31 July 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
283,750
283,750

Later than 1 year and not later than 5 years
1,135,000
1,135,000

Later than 5 years
928,560
1,211,332

2,347,310
2,630,082


15.


Related party transactions

During the year the Company made net sales in the normal course of business to a direct subsidiary of £32,236 (2023 - £12,686) and associates of £Nil (2023 - £4,200). At the year end the balance owed by direct subsidiaries is £39,994 (2023 - £103,728).
 
During the year the Company paid rental charges of £283,750 
(2023 - £299,508) in respect of properties owned or partly owned by key management personnel.
During the year the Company made payments of £242,040 
(2023 - £282,730) in respect of key management personnel compensation.
During the year the group underwent a reorganisation. See note 4 and 7 for more details on this.


16.


Controlling party

There is no ultimate controlling party.


17.


Auditor's information

The auditor's report on the financial statements for the year ended 31 July 2024 was unqualified.

The audit report was signed on 20 January 2025 by Jamie Henderson (Senior statutory auditor) on behalf of Barnes Roffe LLP.

 
Page 12