Caseware UK (AP4) 2023.0.135 2023.0.135 true12023-05-01falseNo description of principal activity1falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06570502 2023-05-01 2024-04-30 06570502 2022-05-01 2023-04-30 06570502 2024-04-30 06570502 2023-04-30 06570502 c:Director1 2023-05-01 2024-04-30 06570502 d:PlantMachinery 2023-05-01 2024-04-30 06570502 d:PlantMachinery 2024-04-30 06570502 d:PlantMachinery 2023-04-30 06570502 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 06570502 d:MotorVehicles 2024-04-30 06570502 d:MotorVehicles 2023-04-30 06570502 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 06570502 d:FurnitureFittings 2023-05-01 2024-04-30 06570502 d:FurnitureFittings 2024-04-30 06570502 d:FurnitureFittings 2023-04-30 06570502 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 06570502 d:OfficeEquipment 2023-05-01 2024-04-30 06570502 d:OfficeEquipment 2024-04-30 06570502 d:OfficeEquipment 2023-04-30 06570502 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 06570502 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 06570502 d:CurrentFinancialInstruments 2024-04-30 06570502 d:CurrentFinancialInstruments 2023-04-30 06570502 d:Non-currentFinancialInstruments 2024-04-30 06570502 d:Non-currentFinancialInstruments 2023-04-30 06570502 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 06570502 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 06570502 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 06570502 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 06570502 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-04-30 06570502 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-04-30 06570502 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-04-30 06570502 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-04-30 06570502 d:ShareCapital 2024-04-30 06570502 d:ShareCapital 2023-04-30 06570502 d:RetainedEarningsAccumulatedLosses 2024-04-30 06570502 d:RetainedEarningsAccumulatedLosses 2023-04-30 06570502 c:OrdinaryShareClass1 2023-05-01 2024-04-30 06570502 c:OrdinaryShareClass1 2024-04-30 06570502 c:FRS102 2023-05-01 2024-04-30 06570502 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 06570502 c:FullAccounts 2023-05-01 2024-04-30 06570502 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 06570502 2 2023-05-01 2024-04-30 06570502 e:PoundSterling 2023-05-01 2024-04-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 06570502










Gainwell Futures Limited








Unaudited

Financial statements

Information for filing with the registrar

for the year ended 30 April 2024

 
Gainwell Futures Limited
Registered number: 06570502

Balance sheet
as at 30 April 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
6,178
7,888

  
6,178
7,888

Current assets
  

Debtors: amounts falling due within one year
 5 
15,230
10,280

Cash at bank and in hand
  
13,474
6,368

  
28,704
16,648

Creditors: amounts falling due within one year
 6 
(49,173)
(32,283)

Net current liabilities
  
 
 
(20,469)
 
 
(15,635)

Total assets less current liabilities
  
(14,291)
(7,747)

Creditors: amounts falling due after more than one year
 7 
(4,416)
(9,050)

Provisions for liabilities
  

Deferred tax
  
(1,174)
(1,499)

  
 
 
(1,174)
 
 
(1,499)

Net liabilities
  
(19,881)
(18,296)


Capital and reserves
  

Called up share capital 
 9 
1
1

Profit and loss account
  
(19,882)
(18,297)

  
(19,881)
(18,296)


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 on 23 January 2025.




Page 1

 
Gainwell Futures Limited
Registered number: 06570502

Balance sheet (continued)
as at 30 April 2024

A P Lawrence
Director

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

Page 2

 
Gainwell Futures Limited
 

 
Notes to the financial statements
for the year ended 30 April 2024

1.


General information

Gainwell Futures Limited (Company number 06570502) is a limited liability company incorporated in England and Wales. The address of the company's principal place of business is Thyme Cottage, Rosemary Lane, Smarden, Kent, TN27 8PF.

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 financial statements are rounded to the nearest pound.

The following principal accounting policies have been applied:

 
2.2

Going concern

Although there are net liabilities of £19,881 the financial statements have been prepared on a going concern basis as included within other creditors is a loan owing by the company to the shareholder and director of £41,676 which will not be repaid until the company is in the position to do so and is able to pay all liabilities in the ordinary course of business.

 
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.

 
2.4

Interest income

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

 
2.5

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.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
Gainwell Futures Limited
 

 
Notes to the financial statements
for the year ended 30 April 2024

2.Accounting policies (continued)

 
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.

 
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 bases:

Plant and machinery
-
25% straight line
Fixtures and fittings
-
10% straight line
Office equipment
-
25% - 33% straight line

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

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.

Page 4

 
Gainwell Futures Limited
 

 
Notes to the financial statements
for the year ended 30 April 2024

2.Accounting policies (continued)

 
2.10

Cash

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.

 
2.12

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.


3.


Employees

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


        2024
        2023
            No.
            No.







Directors
1
1

Page 5

 
Gainwell Futures Limited
 

 
Notes to the financial statements
for the year ended 30 April 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost


At 1 May 2023
3,939
3,500
8,647
5,881
21,967



At 30 April 2024

3,939
3,500
8,647
5,881
21,967



Depreciation


At 1 May 2023
3,939
1,859
3,310
4,971
14,079


Charge for the year on owned assets
-
410
865
435
1,710



At 30 April 2024

3,939
2,269
4,175
5,406
15,789



Net book value



At 30 April 2024
-
1,231
4,472
475
6,178



At 30 April 2023
-
1,641
5,337
910
7,888

Page 6

 
Gainwell Futures Limited
 

 
Notes to the financial statements
for the year ended 30 April 2024

5.


Debtors

2024
2023
£
£


Amounts owed by related companies
15,230
10,280



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
-
3,256

Bank loans
4,176
3,976

Trade creditors
-
1,520

Other taxation and social security
1,870
3,651

Other creditors
41,777
18,054

Accruals and deferred income
1,350
1,826

49,173
32,283



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
4,416
9,050



8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
4,176
3,976

Amounts falling due 1-2 years

Bank loans
4,416
4,163

Amounts falling due 2-5 years

Bank loans
-
4,887


8,592
13,026


Page 7

 
Gainwell Futures Limited
 

 
Notes to the financial statements
for the year ended 30 April 2024

9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 Ordinary £1 share of £1.00
1
1



Page 8