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Registered number: 12500682









THE ANGEL GROUP (LONDON) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

 
THE ANGEL GROUP (LONDON) LIMITED
REGISTERED NUMBER: 12500682

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
1,000

Tangible assets
 5 
1,437
3,692

  
1,437
4,692

Current assets
  

Debtors: amounts falling due within one year
 6 
5,333
12,698

Cash at bank and in hand
 7 
68,022
62,395

  
73,355
75,093

Creditors: amounts falling due within one year
 8 
(43,540)
(45,767)

Net current assets
  
 
 
29,815
 
 
29,326

Total assets less current liabilities
  
31,252
34,018

  

Net assets
  
31,252
34,018


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
31,251
34,017

  
31,252
34,018


Page 1

 
THE ANGEL GROUP (LONDON) LIMITED
REGISTERED NUMBER: 12500682
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 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 income and retained earnings 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 29 January 2025.




J Wise
Director

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

Page 2

 
THE ANGEL GROUP (LONDON) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

The Angel Group (London) Limited is a private company limited by shares incorporated in England and Wales. The company's registered number and registered office can be found on the Company Information page. The prinicpal place of business is 17 Park Road, London, NW1 6XN.

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

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
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. 
Turnover comprises revenue recognised by the company in respect of well being and complementary therapy services.

 
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.

Page 3

 
THE ANGEL GROUP (LONDON) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.6

Taxation

Tax is recognised in the statement of income and retained earnings, 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.

 
2.7

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.

 
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, .

Depreciation is provided on the following basis:

Office equipment
-
33%
straight line method

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.

Page 4

 
THE ANGEL GROUP (LONDON) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.9

Debtors

Short term debtors are measured at transaction price, 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.

 
2.11

Creditors

Short term creditors are measured at the transaction price.

 
2.12

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

2024
2023
£
£

Wages and salaries
9,096
9,050

9,096
9,050


The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 5

 
THE ANGEL GROUP (LONDON) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 February 2023
3,000



At 31 January 2024

3,000



Amortisation


At 1 February 2023
2,000


Charge for the year on owned assets
1,000



At 31 January 2024

3,000



Net book value



At 31 January 2024
-



At 31 January 2023
1,000



Page 6

 
THE ANGEL GROUP (LONDON) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 February 2023
6,766



At 31 January 2024

6,766



Depreciation


At 1 February 2023
3,074


Charge for the year on owned assets
2,255



At 31 January 2024

5,329



Net book value



At 31 January 2024
1,437



At 31 January 2023
3,692


6.


Debtors

2024
2023
£
£


Trade debtors
3,132
6,424

Other debtors
-
1,828

Prepayments and accrued income
2,201
4,446

5,333
12,698



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
68,022
62,395

68,022
62,395


Page 7

 
THE ANGEL GROUP (LONDON) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
5,923
7,192

Corporation tax
10,769
11,893

Other taxation and social security
8,617
6,372

Other creditors
6,964
7,850

Accruals and deferred income
11,267
12,460

43,540
45,767



9.


Related party transactions

At the reporting date, the company owed £164 (2023: £566) to J Wise, the director of the company. The loan is interest free, unsecured and repayable on demand.

 
Page 8