Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30truefalse2023-07-01falseOther credit granting not elsewhere classified00trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02167930 2023-07-01 2024-06-30 02167930 2022-07-01 2023-06-30 02167930 2024-06-30 02167930 2023-06-30 02167930 c:Director1 2023-07-01 2024-06-30 02167930 d:CurrentFinancialInstruments 2024-06-30 02167930 d:CurrentFinancialInstruments 2023-06-30 02167930 d:Non-currentFinancialInstruments 2024-06-30 02167930 d:Non-currentFinancialInstruments 2023-06-30 02167930 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 02167930 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 02167930 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 02167930 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 02167930 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-06-30 02167930 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-06-30 02167930 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-06-30 02167930 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-06-30 02167930 d:ShareCapital 2024-06-30 02167930 d:ShareCapital 2023-06-30 02167930 d:RetainedEarningsAccumulatedLosses 2024-06-30 02167930 d:RetainedEarningsAccumulatedLosses 2023-06-30 02167930 c:FRS102 2023-07-01 2024-06-30 02167930 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 02167930 c:FullAccounts 2023-07-01 2024-06-30 02167930 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 02167930 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 02167930










FINANCE-U-LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
FINANCE-U-LIMITED
REGISTERED NUMBER: 02167930

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due after more than one year
 4 
1,132,239
1,330,438

Debtors: amounts falling due within one year
 4 
72,455
85,460

Cash at bank and in hand
 5 
22,683
14,079

  
1,227,377
1,429,977

Creditors: amounts falling due within one year
 6 
(736,295)
(785,377)

Net current assets
  
 
 
491,082
 
 
644,600

Total assets less current liabilities
  
491,082
644,600

Creditors: amounts falling due after more than one year
  
(17,719)
(34,014)

  

Net assets
  
473,363
610,586


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
473,263
610,486

  
473,363
610,586


Page 1

 
FINANCE-U-LIMITED
REGISTERED NUMBER: 02167930
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 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 19 November 2024.




Graham Alexander Humphries
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
FINANCE-U-LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Finance-U-Limited is a private company, limited by shares in England and Wales. The company's registered number and registered office address are as below: 
Registered number: 02167930
Registered address: 18 The Paddocks, Penarth, S.Glamorgan, United Kingdom, CF64 5BW
The presentation currency of the financial statements is the Pound Sterling (£). 
Monetary amounts in these financial statements are rounded to the nearest £. 

2.Accounting policies

  
2.1

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors which are considered to be relevant. Actual results may differ from these estimates. 
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.    
Provisions and contingencies 
Provisions are recognised when the company has a present obligation as a result of a past event and a reliable estimate can be made of a probable adverse outcome. Otherwise, material contingent liabilities are disclosed unless a transfer of economic benefits is considered remote. Contingent assets are only disclosed if an inflow of economic benefits is probable.
Bad debt provisions
The directors make provisions against finance agreements debtors based on the individual circumstances of each agreement. The director considers various factors including the age of the ddebt, the amount of arrears and the existence of any security held against the debt such as changes over customers assets. 
Turnover
Turnover represents interest received in respect of the provision of finance agreements and is recognised over the term of each agreement using the rule of seventy eight. 

Page 3

 
FINANCE-U-LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.2

Going concern

The company has recorded losses for the current and prior periods but has both net current assets and net assets at the balance sheet date. 
In preparing the financial statements, the directors have considered the current financial position of the company and its likely future cashflows. 
The company continues to be reliant on the support of its related party and other financiers, however the directors are confident that this support will continue. 
At the date of signing the financial statements, after considering those areas which could give rise to financial exposure, the directors are satisified that the company will have adequate resources to continue its operations for the foreseeable future. Accordingly the directors have adopted the going concern basis in preparing the financial statements. 

 
2.3

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.

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.

 
2.4

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.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements,
Page 4

 
FINANCE-U-LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.4
Financial instruments (continued)

when there is a legally 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs 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 receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees

The average number of employees during the year was 1 (2023 - 1). 


4.


Debtors

2024
2023
£
£

Due after more than one year

Finance agreements
1,132,239
1,330,438

1,132,239
1,330,438


2024
2023
£
£

Due within one year

Finance agreements
72,455
85,460

72,455
85,460


Page 5

 
FINANCE-U-LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
22,683
14,079

22,683
14,079



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
16,295
24,898

Amounts owed to group undertakings
710,000
750,000

Other taxation and social security
-
479

Accruals and deferred income
10,000
10,000

736,295
785,377



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
17,719
34,014

17,719
34,014


Page 6

 
FINANCE-U-LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Other loans
16,295
24,898


16,295
24,898

Amounts falling due 1-2 years

Other loans
16,925
16,295


16,925
16,295

Amounts falling due 2-5 years

Other loans
794
17,719


794
17,719


34,014
58,912



9.


Secured debts

The following secured debts are included within creditors:

2024
2023
£
£
Other loans

34,014

58,912
 
34,014

58,912
 

The other loans are secured by way of charges over the finance agreements issued by the company. There are also charges over assets owned by a director and a director has offered personal guarantees. 


10.


Contingent liabilities

At the balance sheet date the company had a contingent liability in respect of a cross guarantee with C.P.G. (Wales) Plc and Mainshare Limited. The maximum amount of the guarantee at the balance sheet date was £847,546 (2023 - £834,507). The company would be liable for this amount should the lender company default.

 
Page 7