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Registered number: SC562819









CONFIDA FM LIMITED









DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2023

 
CONFIDA FM LIMITED
 
 
COMPANY INFORMATION


Directors
N J Earley  
R W Empson 




Registered number
SC562819



Registered office
Ground Floor
8 Forbes Drive

Heathfield Business Park

Ayr

Scotland

KA8 9FG




Independent auditors
Hillier Hopkins LLP
Chartered Accountants & Statutory Auditors

Ground floor

45 Pall Mall

London

SW1Y 5JG





 
CONFIDA FM LIMITED
 

CONTENTS



Page
Directors' report
 
1 - 2
Independent auditors' report
 
3 - 6
Statement of comprehensive income
 
7
Statement of financial position
 
8 - 9
Notes to the financial statements
 
10 - 20


 
CONFIDA FM LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2023

The directors present their report and the financial statements for the period ended 31 December 2023.

Directors' responsibilities statement

The directors are responsible for preparing the Directors' report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Directors

The directors who served during the period were:

N J Earley (appointed 31 July 2023)
R W Empson (appointed 31 July 2023)
S Cosh (resigned 31 July 2023)
I J Murrey (resigned 31 July 2023)
L Murray MBE (resigned 31 July 2023)

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Auditors

During the period, the directors appointed, Hillier Hopkins LLP, as auditor and they will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

Page 1

 
CONFIDA FM LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023

Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board on 31 January 2025 and signed on its behalf.
 





N J Earley
Director

Page 2

 
CONFIDA FM LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CONFIDA FM LIMITED
 

Opinion


We have audited the financial statements of Confida FM Limited (the 'Company') for the period ended 31 December 2023, which comprise the Statement of comprehensive income, the Statement of financial position and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Company's affairs as at 31 December 2023 and of its loss for the period then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Emphasis of matter – basis of preparation / financial statements prepared on a basis other than 
going concern


Without qualifying our opinion, we draw attention to basis of preparation set out in note 2.1 in the financial statements. Accounting Standards require that financial statements are drawn up on the going concern basis unless it is considered unlikely that the company will continue operating for the foreseeable future. On the basis that the director considered that it is more likely than not that the company will cease its operations and be dissolved within the forthcoming twelve months, the financial statements have been drawn up on a basis other than going concern as set out in note 2.1. Our opinion is not modified in respect of this matter.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Page 3

 
CONFIDA FM LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CONFIDA FM LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Directors' report for the financial period for which the financial statements are prepared is consistent with the financial statements; and
the Directors' report has been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' report and from the requirement to prepare a Strategic report.


Page 4

 
CONFIDA FM LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CONFIDA FM LIMITED (CONTINUED)


Responsibilities of directors
 

As explained more fully in the Directors' responsibilities statement set out on page 1, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.
Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

the nature of the industry and sector, control environment and business performance including the remuneration incentives and pressures of key management;
the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management. We consider the results of our enquiries of management about their own identification and assessment of the risks of irregularities;
any matters we identified having obtained and reviewed the Company’s documentation of their policies and procedures relating to:
 
°identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;
°detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;
°the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;
 
the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.
 
As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.
We also obtained an understanding of the legal and regulatory frameworks that the Company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. We focused on laws and regulations that could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and
Page 5

 
CONFIDA FM LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CONFIDA FM LIMITED (CONTINUED)


relevant tax legislation.
 

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation.  This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.


Use of our report
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Michael Jacoby FCA (Senior Statutory Auditor)
for and on behalf of
Hillier Hopkins LLP
Chartered Accountants & Statutory Auditors
Ground floor
45 Pall Mall
London
SW1Y 5JG

31 January 2025
Page 6

 
CONFIDA FM LIMITED
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 31 DECEMBER 2023

Period ended
31 December
Period ended
31 July
2023
2023
£
£

  

Turnover
  
2,157,737
7,120,840

Cost of sales
  
(1,677,865)
(5,725,741)

Gross profit
  
479,872
1,395,099

Administrative expenses
  
(806,318)
(1,354,708)

Operating (loss)/profit
  
(326,446)
40,391

Interest payable and similar expenses
  
(4,860)
(43,702)

Loss before tax
  
(331,306)
(3,311)

Tax on loss
  
(51,941)
(6,443)

Loss for the financial period
  
(383,247)
(9,754)

Total comprehensive income for the period
  
(383,247)
(9,754)

The notes on pages 10 to 20 form part of these financial statements.

Page 7

 
CONFIDA FM LIMITED
REGISTERED NUMBER: SC562819

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

31 December
31 July
2023
2023
Note
£
£

Fixed assets
  

Intangible assets
 6 
-
526,984

Tangible assets
 7 
-
26,427

  
-
553,411

Current assets
  

Current assets held for disposal
 7 
17,605
-

Stocks
 8 
2,000
2,000

Debtors: amounts falling due within one year
 9 
1,358,314
1,067,430

Cash at bank and in hand
 10 
507,848
700,133

  
1,885,767
1,769,563

Creditors: amounts falling due within one year
 11 
(1,722,717)
(838,815)

Net current assets
  
 
 
163,050
 
 
930,748

Total assets less current liabilities
  
163,050
1,484,159

Creditors: amounts falling due after more than one year
 12 
(133,048)
(166,667)

  

Net assets
  
30,002
1,317,492


Capital and reserves
  

Called up share capital 
 14 
3
3

Share premium account
  
29,999
29,999

Profit and loss account
  
-
1,287,490

  
30,002
1,317,492


Page 8

 
CONFIDA FM LIMITED
REGISTERED NUMBER: SC562819
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

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 were approved and authorised for issue by the board and were signed on its behalf on 31 January 2025.




N J Earley
Director

The notes on pages 10 to 20 form part of these financial statements.

Page 9

 
CONFIDA FM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

Confida FM Limited is a company limited by shares, incorporated in Scotland. The address of the registered office is Ground Floor, 8 Forbes Drive, Heathfield Business Park, Ayr, Scotland, KA8 9FG.
The Company is an industrial cleaning contractor.

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.

Following a group restructure post year end, the Directors have no future plans for the company and expect to cease operations in the foreseeable future.
The Directors, therefore, do not consider that the going concern basis is appropriate for these financial statements and have instead prepared the financial statements on a basis other than going concern. This basis included all assets at their recoverable amounts rather than their historical costs and makes provisions for the costs of disposals of the assets. All assets and liabilities are treated as recoverable and payable within one year.

The following principal accounting policies have been applied:

Page 10

 
CONFIDA FM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
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:

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.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of comprehensive income 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.

 
2.4

Finance costs

Finance costs are charged to the Statement of comprehensive income 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.

 
2.5

Borrowing costs

All borrowing costs are recognised in the Statement of comprehensive income in the period in which they are incurred.

Page 11

 
CONFIDA FM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
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 the Statement of comprehensive income 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.

 
2.7

Taxation

Tax is recognised in the Statement of comprehensive income 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.

 
2.8

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 comprehensive income 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.

 
2.9

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.

Page 12

 
CONFIDA FM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.9
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:

Plant and machinery
-
33.33% Straight line
Motor vehicles
-
33.33% Straight line
Fixtures and fittings
-
33.33% Straight line
Office equipment
-
33.33% 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 the Statement of comprehensive income.

 
2.10

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 the Statement of comprehensive income.

 
2.11

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.

 
2.12

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.

 
2.13

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.

Page 13

 
CONFIDA FM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.14

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

The average monthly number of employees, including directors, during the period was 209 (2023 - 167).


4.


Directors' remuneration

Period ended
31 December
Period ended
31 July
2023
2023
£
£

Directors' emoluments
-
91,000

Company contributions to defined contribution pension schemes
-
93,324

-
184,324


During the period retirement benefits were accruing to no directors (2023 - 3) in respect of defined contribution pension schemes.


5.


Dividends

31 December
31 July
2023
2023
£
£


Dividend on equity shares
904,243
300,000

904,243
300,000

The directors had an interest in dividends declared amounting to £904,243 (period ended 31 July 2023 - £300,000).

Page 14

 
CONFIDA FM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

6.


Intangible assets






Goodwill

£



Cost


At 1 August 2023
526,984



At 31 December 2023

526,984



Amortisation


Charge for the period on owned assets
526,984



At 31 December 2023

526,984



Net book value



At 31 December 2023
-



At 31 July 2023
526,984



Page 15

 
CONFIDA FM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

7.


Tangible fixed assets







Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 August 2023
65,045
25,574
12,412
17,903
120,934



At 31 December 2023

65,045
25,574
12,412
17,903
120,934



Depreciation


At 1 August 2023
51,709
21,749
7,331
13,718
94,507


Charge for the period on owned assets
3,381
-
1,722
1,908
7,011


Charge for the period on financed assets
833
978
-
-
1,811



At 31 December 2023

55,923
22,727
9,053
15,626
103,329



Net book value



At 31 December 2023
9,122
2,847
3,359
2,277
17,605



At 31 July 2023
13,336
3,825
5,081
4,185
26,427

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


31 December
31 July
2023
2023
£
£



Plant and machinery
3,500
4,333

Motor vehicles
2,848
3,825

6,348
8,158

Page 16

 
CONFIDA FM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

8.


Stocks

31 December
31 July
2023
2023
£
£

Finished goods
2,000
2,000

2,000
2,000



9.


Debtors

31 December
31 July
2023
2023
£
£


Trade debtors
1,184,888
1,056,668

Amounts owed by group undertakings
165,243
-

Prepayments and accrued income
8,183
10,762

1,358,314
1,067,430



10.


Cash and cash equivalents

31 December
31 July
2023
2023
£
£

Cash at bank and in hand
507,848
700,133

507,848
700,133


Page 17

 
CONFIDA FM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

11.


Creditors: Amounts falling due within one year

31 December
31 July
2023
2023
£
£

Bank loans
80,000
80,000

Trade creditors
1,902
83

Amounts owed to group undertakings
904,243
-

Corporation tax
58,384
6,443

Other taxation and social security
348,134
206,146

Obligations under finance lease and hire purchase contracts
5,124
6,721

Other creditors
317,159
334,112

Accruals and deferred income
7,771
205,310

1,722,717
838,815



12.


Creditors: Amounts falling due after more than one year

31 December
31 July
2023
2023
£
£

Bank loans
133,048
166,667

133,048
166,667


Page 18

 
CONFIDA FM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

13.


Loans


Analysis of the maturity of loans is given below:


31 December
31 July
2023
2023
£
£

Amounts falling due within one year

Bank loans
80,000
80,000

Amounts falling due 1-2 years

Bank loans
133,048
103,334

Amounts falling due 2-5 years

Bank loans
-
63,333


213,048
246,667



14.


Share capital

31 December
31 July
2023
2023
£
£
Allotted, called up and fully paid



100 Ordinary A shares of £0.01 each
1
1
100 Ordinary B shares of £0.01 each
1
1
86 Ordinary C shares of £0.01 each
1
1

3

3



15.


Pension commitments

The Company operates a defined contributions 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 £17,714 (2023 - £148,106). Contributions totalling £8,776 (2023 - £9,391) were payable to the fund at the reporting date and are included in creditors.


16.


Related party transactions

The Company has taken advantage of the exemption in FRS 102 Section 33: Related party disclosures from the requirement to disclose transactions with other wholly owned group companies.

Page 19

 
CONFIDA FM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

17.


Controlling party

The immediate parent company is Atlas FM Limited and the ultimate parent company is Atlas FM Group Limited. Both companies are incorporated in England and Wales. Atlas FM Group Limited has prepared group accounts for the year ended 31 December 2023. Consolidated accounts for Atlas FM Group Limited are available from Riding Court House, Riding Court Road, Datchet, Berkshire, SL3 9JT.  This is  the only company in the group which prepares consolidated accounts.
The directors of Atlas FM Group Limited are of the opinion that N J Earley and R W Empson are the ultimate controlling parties.
After the year end, on 29 October 2024, the Atlas FM Group Employee Ownership Trust purchased 100% of the share capital to become the controlling party. The ultimate controlling party subsequently became Zedra Trust Company (Guernsey) Limited, which is the Trustee of the Atlas FM Group Employee Ownership Trust.

 
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