Caseware UK (AP4) 2023.0.135 2023.0.135 2024-09-302024-09-30true2023-10-01falseprovision of management services to subsidiary companies.45falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09894489 2023-10-01 2024-09-30 09894489 2022-10-01 2023-09-30 09894489 2024-09-30 09894489 2023-09-30 09894489 c:Director1 2023-10-01 2024-09-30 09894489 c:Director5 2023-10-01 2024-09-30 09894489 d:CurrentFinancialInstruments 2024-09-30 09894489 d:CurrentFinancialInstruments 2023-09-30 09894489 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 09894489 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 09894489 d:ShareCapital 2024-09-30 09894489 d:ShareCapital 2023-09-30 09894489 d:RetainedEarningsAccumulatedLosses 2024-09-30 09894489 d:RetainedEarningsAccumulatedLosses 2023-09-30 09894489 c:OrdinaryShareClass1 2023-10-01 2024-09-30 09894489 c:OrdinaryShareClass1 2024-09-30 09894489 c:OrdinaryShareClass2 2023-10-01 2024-09-30 09894489 c:OrdinaryShareClass2 2024-09-30 09894489 c:OrdinaryShareClass3 2023-10-01 2024-09-30 09894489 c:OrdinaryShareClass3 2024-09-30 09894489 c:FRS102 2023-10-01 2024-09-30 09894489 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 09894489 c:FullAccounts 2023-10-01 2024-09-30 09894489 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 09894489 2 2023-10-01 2024-09-30 09894489 6 2023-10-01 2024-09-30 09894489 e:PoundSterling 2023-10-01 2024-09-30 09894489 d:EntityControlledByKeyManagementPersonnel1 2023-10-01 2024-09-30 09894489 d:EntityControlledByKeyManagementPersonnel1 2024-09-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09894489









ISOBEL GROUP LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
ISOBEL GROUP LIMITED
REGISTERED NUMBER: 09894489

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024


2024

2023
Note
£
£
£
£

Fixed assets
  

Investments
 4 
50,001
50,001

Current assets
  

Debtors: amounts falling due within one year
 5 
452,479
195,811

Cash at bank and in hand
 6 
1,160,561
1,030,796

  
1,613,040
1,226,607

Creditors: amounts falling due within one year
 7 
(1,538,416)
(1,077,580)

Net current assets
  
 
 
74,624
 
 
149,027

  

Net assets
  
124,625
199,028


Capital and reserves
  

Called up share capital 
 9 
50,004
50,004

Profit and loss account
  
74,621
149,024

  
124,625
199,028


Page 1

 
ISOBEL GROUP LIMITED
REGISTERED NUMBER: 09894489
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 January 2025.




P A Houlding
S J Laing
Director
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
ISOBEL GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Isobel Group Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is 3 Brook Business Centre, Cowley Mill Road, Uxbridge, Middlesex, UB8 2FX.
The company specialises in the provision of management services to subsidiary companies.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The company is the parent undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the company as an individual undertaking and not about its group.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors note that the company is trading positively and has sufficient working capital and other finance available to continue trading for a period of not less than 12 months from the date of approval of these financial statements. As such, the directors believe that there are no significant uncertainties in their assessment of whether the business is a going concern and therefore have prepared the accounts on a going concern basis.

 
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 year 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 reporting date can be measured reliably; and
• the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.

Page 3

 
ISOBEL GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.5

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 the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Share-based payments

Where share options are awarded to employees, the fair value of the options at the date of grant is charged to the Statement of comprehensive income over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each reporting date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition.
The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the Company keeping the scheme open or the employee maintaining any contributions required by the scheme).
Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to the Statement of comprehensive income over the remaining vesting period.
Where equity instruments are granted to persons other than employees, the Statement of comprehensive income is charged with fair value of goods and services received.

Page 4

 
ISOBEL GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

Tax is recognised in the Statement of comprehensive income 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 reporting 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 reporting 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 reporting date.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
ISOBEL GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.12

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like other debtors and creditors, and amounts owed to and from related parties.
Financial assets that are measured at cost and amortised cost are assessed at each reporting date for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the Statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.13

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 directors, during the year was 4 (2023 - 5).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost and net book value


At 1 October 2023
50,001



At 30 September 2024
50,001




Page 6

 
ISOBEL GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
452,479
195,811

452,479
195,811



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,160,561
1,030,796

1,160,561
1,030,796



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
1,533,406
1,063,406

Corporation tax
5,005
9,937

Other creditors
5
4,237

1,538,416
1,077,580



8.


Pension commitments

The company operates a defined contribution pension scheme in respect of its directors. The pension charge represents contributions due from the company and amounted to £180,000 (2023 - £33,600). Contributions totalling £Nil (2023 - £Nil) were outstanding as at the year end.

Page 7

 
ISOBEL GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



37,500 Ordinary shares of £1 each
37,500
37,500
3 Ordinary A shares of £1 each
3
3
12,501 Ordinary C shares of £1 each
12,501
12,501

50,004

50,004

The Ordinary shares and Ordinary A shares rank pari passu in all respects expect for the purpose of the declaration of dividends. The declaration of a dividend in respect of one class of share shall not compel a dividend at the same rate to be declared in respect of the other class of share.
The Ordinary C shares do not have the right to vote on any matter and hold no right to dividends.


10.


Share-based payments

On 11 February 2020, the company granted share options of 3,632 under the terms of the EMI scheme, and 2,724 share options under a non-EMI scheme. The share options were granted at a price of £1.00 per share, a valuation agreed with HM Revenue and Customs.
During the year, 1,547 options under the EMI scheme lapsed. As at the reporting date, 4,809 of the above share options remain unexercised. The financial statements do not reflect the share option charge as it is deemed to be immaterial.


11.


Related party transactions

The company has adopted the exemption permitted by Financial Reporting Standard 102, not to disclose any transaction with wholly owned subsidiary undertakings

Included within other creditors is an amount due to directors of £5 (2023 - £4,237).


12.


Controlling party

There is no ultimate controlling party.

Page 8