Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30truetruetruetruetrue2023-05-0167No description of principal activitytrue2025-01-31falsetruefalse 03129553 2023-05-01 2024-04-30 03129553 2022-05-01 2023-04-30 03129553 2024-04-30 03129553 2023-04-30 03129553 c:Director1 2023-05-01 2024-04-30 03129553 c:Director2 2023-05-01 2024-04-30 03129553 d:Buildings 2023-05-01 2024-04-30 03129553 d:Buildings 2024-04-30 03129553 d:Buildings 2023-04-30 03129553 d:Buildings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 03129553 d:PlantMachinery 2023-05-01 2024-04-30 03129553 d:PlantMachinery 2024-04-30 03129553 d:PlantMachinery 2023-04-30 03129553 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 03129553 d:FurnitureFittings 2023-05-01 2024-04-30 03129553 d:FurnitureFittings 2024-04-30 03129553 d:FurnitureFittings 2023-04-30 03129553 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 03129553 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 03129553 d:Goodwill 2023-05-01 2024-04-30 03129553 d:Goodwill 2024-04-30 03129553 d:Goodwill 2023-04-30 03129553 d:CurrentFinancialInstruments 2024-04-30 03129553 d:CurrentFinancialInstruments 2023-04-30 03129553 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 03129553 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 03129553 d:ShareCapital 2024-04-30 03129553 d:ShareCapital 2023-04-30 03129553 d:RetainedEarningsAccumulatedLosses 2024-04-30 03129553 d:RetainedEarningsAccumulatedLosses 2023-04-30 03129553 d:AcceleratedTaxDepreciationDeferredTax 2024-04-30 03129553 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 03129553 c:FRS102 2023-05-01 2024-04-30 03129553 c:Audited 2023-05-01 2024-04-30 03129553 c:FullAccounts 2023-05-01 2024-04-30 03129553 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 03129553 c:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 03129553 2 2023-05-01 2024-04-30 03129553 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 03129553
















BRITISH ENERGETICS LIMITED




FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024


































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BRITISH ENERGETICS LIMITED
REGISTERED NUMBER:03129553

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Tangible assets
 5 
124,694
122,820

CURRENT ASSETS
  

Stocks
 6 
23,574
32,590

Debtors: amounts falling due within one year
 7 
419,261
478,178

Cash at bank and in hand
 8 
2,525
1,821

  
445,360
512,589

Creditors: amounts falling due within one year
 9 
(43,100)
(65,556)

NET CURRENT ASSETS
  
 
 
402,260
 
 
447,033

TOTAL ASSETS LESS CURRENT LIABILITIES
  
526,954
569,853

PROVISIONS FOR LIABILITIES
  

Deferred tax
 10 
(1,254)
4,783

  
 
 
(1,254)
 
 
4,783

NET ASSETS
  
525,700
574,636


CAPITAL AND RESERVES
  

Called up share capital 
  
2
2

Profit and loss account
  
525,698
574,634

  
525,700
574,636


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 by: 





M Pascoe
A Westington
Director
Director


Date: 29 January 2025

The notes on pages 2 to 11 form part of these financial statements.

Page 1


BRITISH ENERGETICS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


GENERAL INFORMATION

British Energetics Limited (registered number 03129553) is a private company, limited by shares and registered in England. The registered office is Spinnaker House, Saltash Parkway, Saltash, Cornwall, PL12 6LF. The principle place of business is Saunders Lane, Ash, Canterbury, Kent, CT3 2BX.

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

FINANCIAL REPORTING STANDARD 102 - REDUCED DISCLOSURE EXEMPTIONS

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Secure Innovation Group Limited as at 30 April 2024 and these financial statements may be obtained from Companies House, Cardiff.

 
2.3

GOING CONCERN

The accounts have been prepared on the going concern basis. The Directors have considered forecasts and future cash flows. The Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing of these financial statements. For this reason, the Directors consider that the going concern basis is appropriate.

Page 2


BRITISH ENERGETICS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.ACCOUNTING POLICIES (continued)

 
2.4

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.

 
2.5

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

 
2.6

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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 3


BRITISH ENERGETICS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.ACCOUNTING POLICIES (continued)

 
2.7

RESEARCH AND DEVELOPMENT

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.8

INTEREST INCOME

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

 
2.9

BORROWING COSTS

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

 
2.10

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 Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4


BRITISH ENERGETICS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.ACCOUNTING POLICIES (continued)

 
2.11

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 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.


 
2.12

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.

 The estimated useful lives range as follows:

Goodwill
-
5
Years

 
2.13

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.

Page 5


BRITISH ENERGETICS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.ACCOUNTING POLICIES (continued)


2.13
TANGIBLE FIXED ASSETS (CONTINUED)

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:

Freehold property and land
-
Not depreciated - 2% straight line
Plant and machinery
-
20% straight line
Fixtures and fittings
-
20% 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.

 
2.14

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.15

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.

 
2.16

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.

 
2.17

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.

 
2.18

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.

Page 6


BRITISH ENERGETICS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

3.


EMPLOYEES

2024
2023
£
£

Wages and salaries
150,907
153,896

Social security costs
13,244
13,824

Cost of defined contribution scheme
4,538
3,922

168,689
171,642


The average monthly number of employees, including directors, during the year was 6 (2023: 7).


4.


INTANGIBLE ASSETS




Goodwill

£



COST


At 1 May 2023
43,802



At 30 April 2024

43,802



AMORTISATION


At 1 May 2023
43,802



At 30 April 2024

43,802



NET BOOK VALUE



At 30 April 2024
-



At 30 April 2023
-



Page 7


BRITISH ENERGETICS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


TANGIBLE FIXED ASSETS





Freehold property and land
Plant and machinery
Fixtures and fittings
Total

£
£
£
£



COST OR VALUATION


At 1 May 2023
159,682
76,685
21,682
258,049


Additions
332
-
4,932
5,264



At 30 April 2024

160,014
76,685
26,614
263,313



DEPRECIATION


At 1 May 2023
38,000
76,685
20,544
135,229


Charge for the year on owned assets
2,336
-
1,054
3,390



At 30 April 2024

40,336
76,685
21,598
138,619



NET BOOK VALUE



At 30 April 2024
119,678
-
5,016
124,694



At 30 April 2023
121,682
-
1,138
122,820


6.


STOCKS

2024
2023
£
£

Raw materials and consumables
22,036
21,431

Work in progress (goods to be sold)
1,538
11,159

23,574
32,590


Page 8


BRITISH ENERGETICS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


DEBTORS

2024
2023
£
£


Trade debtors
8,213
27,375

Amounts owed by group undertakings
389,491
429,264

Other debtors
4,457
6,350

Prepayments and accrued income
17,100
15,189

419,261
478,178



8.


CASH AND CASH EQUIVALENTS

2024
2023
£
£

Cash at bank and in hand
2,525
1,821

Less: bank overdrafts
-
(299)

2,525
1,522



9.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Bank overdrafts
-
299

Trade creditors
8,996
19,608

Other taxation and social security
19,343
8,314

Other creditors
5
21,680

Accruals and deferred income
14,756
15,655

43,100
65,556



10.


DEFERRED TAXATION




2024


£






At beginning of year
4,783


Charged to profit or loss
(6,037)



AT END OF YEAR
(1,254)

Page 9


BRITISH ENERGETICS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
 
10.DEFERRED TAXATION (CONTINUED)

The deferred tax balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(1,254)
4,783

(1,254)
4,783

COMPRISING:

Liability
(1,254)
4,783

(1,254)
4,783



11.


PROVISIONS










AT 30 APRIL 2024


12.


PENSION COMMITMENTS

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £4,538 (2023: £3,922). Contributions totalling £Nil (2023: £1,680) were payable to the fund at the reporting date and are included in creditors. 


13.


RELATED PARTY TRANSACTIONS

As a wholly owned subsidiary undertaking of their ultimate parent company Secure Innovation Group Limited, the Company has taken advantage of the exemption in paragraph 33. 1A of FRS 102 in not disclosing intra group transactions where 100% of the voting rights are controlled within the Group. 


14.


CONTROLLING PARTY

The Company is a wholly owned subsidiary of their ultimate parent Company Secure Innovation Group Limited (registered in England and Wales - 07208320), the consolidated accounts of which are available at Companies House, Cardiff. 

Page 10


BRITISH ENERGETICS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

15.


AUDITORS' INFORMATION

The auditors' report on the financial statements for the year ended 30 April 2024 was unqualified.

The audit report was signed on 31 January 2025 by Robert Davey FCA (Senior statutory auditor) on behalf of Bishop Fleming LLP.

 
Page 11