Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30trueNo description of principal activity2023-05-01false1717trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03885576 2023-05-01 2024-04-30 03885576 2022-05-01 2023-04-30 03885576 2024-04-30 03885576 2023-04-30 03885576 c:Director1 2023-05-01 2024-04-30 03885576 d:PlantMachinery 2023-05-01 2024-04-30 03885576 d:PlantMachinery 2024-04-30 03885576 d:PlantMachinery 2023-04-30 03885576 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 03885576 d:FurnitureFittings 2023-05-01 2024-04-30 03885576 d:FurnitureFittings 2024-04-30 03885576 d:FurnitureFittings 2023-04-30 03885576 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 03885576 d:OfficeEquipment 2023-05-01 2024-04-30 03885576 d:OfficeEquipment 2024-04-30 03885576 d:OfficeEquipment 2023-04-30 03885576 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 03885576 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 03885576 d:Goodwill 2024-04-30 03885576 d:Goodwill 2023-04-30 03885576 d:CurrentFinancialInstruments 2024-04-30 03885576 d:CurrentFinancialInstruments 2023-04-30 03885576 d:Non-currentFinancialInstruments 2024-04-30 03885576 d:Non-currentFinancialInstruments 2023-04-30 03885576 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 03885576 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 03885576 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 03885576 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 03885576 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-04-30 03885576 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-04-30 03885576 d:ShareCapital 2024-04-30 03885576 d:ShareCapital 2023-04-30 03885576 d:SharePremium 2024-04-30 03885576 d:SharePremium 2023-04-30 03885576 d:RetainedEarningsAccumulatedLosses 2024-04-30 03885576 d:RetainedEarningsAccumulatedLosses 2023-04-30 03885576 c:FRS102 2023-05-01 2024-04-30 03885576 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 03885576 c:FullAccounts 2023-05-01 2024-04-30 03885576 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 03885576 d:Goodwill d:OwnedIntangibleAssets 2023-05-01 2024-04-30 03885576 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 03885576










SCHOOLS PUBLISHING LTD








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

 
SCHOOLS PUBLISHING LTD
REGISTERED NUMBER: 03885576

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
49,333
67,833

Tangible assets
 5 
1,102
2,147

  
50,435
69,980

Current assets
  

Debtors: amounts falling due within one year
 6 
418,745
730,687

Cash at bank and in hand
  
159,255
156,820

  
578,000
887,507

Creditors: amounts falling due within one year
 7 
(310,698)
(438,259)

Net current assets
  
 
 
267,302
 
 
449,248

Total assets less current liabilities
  
317,737
519,228

Creditors: amounts falling due after more than one year
 8 
(43,276)
(78,298)

  

Net assets
  
274,461
440,930


Capital and reserves
  

Called up share capital 
  
75,000
75,000

Share premium account
  
149,895
149,895

Profit and loss account
  
49,566
216,035

  
274,461
440,930


Page 1

 
SCHOOLS PUBLISHING LTD
REGISTERED NUMBER: 03885576
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The director considers 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 director acknowledges his 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 by: 




................................................
Mr R J Nisbet
Director

Date: 28 January 2025

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
SCHOOLS PUBLISHING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Schools Publishing Ltd ("the company") is a private company limited by shares, incorporated in England and Wales under the Companies Act.
The registered number and address of the registered office is given in the company information.
The functional and presentational currency of the company is pounds sterling (£) and rounded to the nearest whole pound.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

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.

 
2.3

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.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
SCHOOLS PUBLISHING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 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 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.

  
2.6

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 other creditors as a liability in the Balance Sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.7

Taxation

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.


  
2.8

Intangible assets - Franchises

Acquired franchises are written off in equal annual instalments over their estimated useful economic life of between 4 and 20 years. Franchises are reviewed annually for impairment.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

 
SCHOOLS PUBLISHING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.9

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.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

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 basis:

Plant and machinery
-
15%
on cost
Fixtures and fittings
-
15%
on cost
Office equipment
-
20%
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.

 
2.10

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.

 
2.11

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. 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.

 
2.12

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.

 
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.

Page 5

 
SCHOOLS PUBLISHING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

  
2.14

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
Investments in non-derivative instruments that are equity to the issuer are measured:
• at fair value with changes recognised in the Statement of comprehensive Income if the shares are publicly traded or their fair value can otherwise be measured reliably;
• at cost less impairment for all other investments.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period 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 balance sheet date.
Financial assets and liabilities are offset and the net amount reported in the Balance sheet 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 17 (2023 - 17).

Page 6

 
SCHOOLS PUBLISHING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Intangible assets




Franchises

£



Cost


At 1 May 2023
1,289,763



At 30 April 2024

1,289,763



Amortisation


At 1 May 2023
1,221,930


Charge for the year on owned assets
18,500



At 30 April 2024

1,240,430



Net book value



At 30 April 2024
49,333



At 30 April 2023
67,833



Page 7

 
SCHOOLS PUBLISHING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost


At 1 May 2023
55,688
13,641
19,750
89,079



At 30 April 2024

55,688
13,641
19,750
89,079



Depreciation


At 1 May 2023
53,773
13,543
19,616
86,932


Charge for the year on owned assets
914
98
33
1,045



At 30 April 2024

54,687
13,641
19,649
87,977



Net book value



At 30 April 2024
1,001
-
101
1,102



At 30 April 2023
1,915
98
134
2,147


6.


Debtors

2024
2023
£
£


Trade debtors
56,726
59,717

Amounts owed by group undertakings
362,019
670,970

418,745
730,687


Amounts owed by group undertakings are unsecured, interest free and repayable on demand.

Page 8

 
SCHOOLS PUBLISHING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other loans
44,629
49,111

Trade creditors
129,727
158,046

Amounts owed to group undertakings
-
102,614

Corporation tax
27,418
-

Other taxation and social security
82,727
109,353

Other creditors
2,032
16,809

Accruals and deferred income
24,165
2,326

310,698
438,259


Other loans of £44,629 (2023: £49,111) falling due within one year are secured by the company. 
Amounts owed to group undertakings falling due within one year are unsecured, interest free and repayable on demand.


8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
43,276
78,298

43,276
78,298


Other loans of £43,276 (2023: £78,298) falling due after more than one year are secured by the company. 


9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within 1 year

Other loans
44,629
49,111


Amounts falling due 2-5 years

Other loans
43,276
78,298


87,905
127,409


Page 9

 
SCHOOLS PUBLISHING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

10.


Pension commitments

The company contributes to a defined benefit contributions scheme for its employees. At the balance sheet date contributions totalling £1,917 (2023: £2,203) were outstanding and payable to the plan. This amount is included within other creditors.


11.


Related party transactions

Included within other creditors is a balance due to the director totalling £nil (2023: £14,557). This balance is unsecured, interest free and repayable on demand.


12.


Controlling party

The company's immediate parent company is Primary Times Limited and its ultimate parent company is Nisco Group Limited. Both companies were incorporated in England and Wales. Primary Times Limited holds all of the issued ordinary shares in this company and Nisco Group Limited owns all of the issued share capital in Primary Times Limited. The registered office of Nisco Group Limited is 6 Swan Court, Forder Way, Hampton, Peterborough, PE7 8GX.

 
Page 10