Caseware UK (AP4) 2024.0.164 2024.0.164 2024-05-312024-05-316true2023-06-01falseNo description of principal activity6trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false NI055244 2023-06-01 2024-05-31 NI055244 2022-06-01 2023-05-31 NI055244 2024-05-31 NI055244 2023-05-31 NI055244 2022-06-01 NI055244 c:Director1 2023-06-01 2024-05-31 NI055244 d:Buildings d:LongLeaseholdAssets 2023-06-01 2024-05-31 NI055244 d:PlantMachinery 2023-06-01 2024-05-31 NI055244 d:PlantMachinery 2024-05-31 NI055244 d:PlantMachinery 2023-05-31 NI055244 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 NI055244 d:MotorVehicles 2023-06-01 2024-05-31 NI055244 d:OfficeEquipment 2023-06-01 2024-05-31 NI055244 d:OfficeEquipment 2024-05-31 NI055244 d:OfficeEquipment 2023-05-31 NI055244 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 NI055244 d:OtherPropertyPlantEquipment 2023-06-01 2024-05-31 NI055244 d:OtherPropertyPlantEquipment 2024-05-31 NI055244 d:OtherPropertyPlantEquipment 2023-05-31 NI055244 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 NI055244 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 NI055244 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-05-31 NI055244 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-05-31 NI055244 d:CurrentFinancialInstruments 2024-05-31 NI055244 d:CurrentFinancialInstruments 2023-05-31 NI055244 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 NI055244 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 NI055244 d:ShareCapital 2024-05-31 NI055244 d:ShareCapital 2023-05-31 NI055244 d:RetainedEarningsAccumulatedLosses 2023-06-01 2024-05-31 NI055244 d:RetainedEarningsAccumulatedLosses 2024-05-31 NI055244 d:RetainedEarningsAccumulatedLosses 2023-05-31 NI055244 c:OrdinaryShareClass3 2023-06-01 2024-05-31 NI055244 c:OrdinaryShareClass3 2024-05-31 NI055244 c:OrdinaryShareClass3 2023-05-31 NI055244 c:OrdinaryShareClass4 2023-06-01 2024-05-31 NI055244 c:OrdinaryShareClass4 2024-05-31 NI055244 c:OrdinaryShareClass4 2023-05-31 NI055244 c:FRS102 2023-06-01 2024-05-31 NI055244 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 NI055244 c:FullAccounts 2023-06-01 2024-05-31 NI055244 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 NI055244 d:AcceleratedTaxDepreciationDeferredTax 2024-05-31 NI055244 d:AcceleratedTaxDepreciationDeferredTax 2023-05-31 NI055244 e:PoundSterling 2023-06-01 2024-05-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: NI055244










Nacelle Systems Consultancy Ltd








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 May 2024

 
Nacelle Systems Consultancy Ltd
Registered number: NI055244

Balance Sheet
As at 31 May 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 6 
-
4,692

  
-
4,692

Current assets
  

Debtors: amounts falling due within one year
 7 
68,662
311,037

Cash at bank and in hand
  
2,697
41,145

  
71,359
352,182

Creditors: amounts falling due within one year
 8 
(70,185)
(151,365)

Net current assets
  
 
 
1,174
 
 
200,817

Total assets less current liabilities
  
1,174
205,509

Provisions for liabilities
  

Deferred tax
 9 
(1,172)
(1,173)

  
 
 
(1,172)
 
 
(1,173)

Net assets
  
2
204,336


Capital and reserves
  

Called up share capital 
 10 
2
2

Profit and loss account
 11 
-
204,334

  
2
204,336


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Nacelle Systems Consultancy Ltd
Registered number: NI055244

Balance Sheet (continued)
As at 31 May 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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 3 February 2025.




Tom Mallon
Director

The notes on pages 3 to 10 form part of these financial statements.

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Page 2

 
Nacelle Systems Consultancy Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 May 2024

1.


General information

Nacelle Systems Consultancy Limited is a private company limited by shares incorporated in Northern Ireland.  The registration number and address of the registered office are given in the company information section of these financial statements.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 Section 1A, the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland and the Companies Act 2006. .
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:

 
2.2

Going concern

The directors of Nacelle Systems Consultancy Ltd have reviewed the appropriateness of the going concern assumption and consider that the company has sufficient resources to continue as a trading entity for the foreseeable future.
Accordingly, the directors believe that it is appropriate to continue to adopt the going concern basis in preparing the financial statements.

 
2.3

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

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Page 3

 
Nacelle Systems Consultancy Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 May 2024

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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.

 
2.6

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 profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

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Page 4

 
Nacelle Systems Consultancy Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 May 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

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.

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Page 5

 
Nacelle Systems Consultancy Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 May 2024

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Leasehold improvements
-
25%
Plant and machinery
-
25%
Motor vehicles
-
20%
Office equipment
-
25%
and 33%

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.

 
2.10

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.

 
2.11

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.


Judgements in applying accounting policies and key sources of estimation uncertainty

In the process of applying the company's accounting policies, management has not made any significant judgements.  There are no key assumptions concerning the future or other key sources of estimation, that have a significant risk of raising a material adjustment to the carrying amounts of assets and liabilites within the financial year.


4.
Employees

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


2024
2023

No.
No.


Employees
6
6
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Page 6

 
Nacelle Systems Consultancy Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 May 2024

4.Employees (continued)



5.


Intangible assets




Software

£



Cost


At 1 June 2023
19,651



At 31 May 2024

19,651



Amortisation


At 1 June 2023
19,651



At 31 May 2024

19,651



Net book value



At 31 May 2024
-



At 31 May 2023
-



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Page 7

 
Nacelle Systems Consultancy Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 May 2024

6.


Tangible fixed assets





Plant and machinery
Office equipment
Leasehold Improvements
Total

£
£
£
£



Cost or valuation


At 1 June 2023
45,064
53,305
15,437
113,806


Transfers intra group
(14,684)
-
(15,437)
(30,121)


Disposals
(30,380)
(47,724)
-
(78,104)



At 31 May 2024

-
5,581
-
5,581



Depreciation


At 1 June 2023
40,402
53,275
15,437
109,114


Charge for the year on owned assets
1,166
-
-
1,166


Transfers intra group
(11,189)
-
(15,437)
(26,626)


Disposals
(30,379)
(47,694)
-
(78,073)



At 31 May 2024

-
5,581
-
5,581



Net book value



At 31 May 2024
-
-
-
-



At 31 May 2023
4,662
30
-
4,692


7.


Debtors: amounts falling due within one year

2024
2023
£
£


Trade debtors
-
35,000

Amounts owed by group undertakings
62,154
271,089

Other debtors
6,508
4,948

68,662
311,037


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Page 8

 
Nacelle Systems Consultancy Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 May 2024

8.


Creditors: amounts falling due within one year

2024
2023
£
£

Trade creditors
301
1,658

Amounts owed to group undertakings
58,341
135,007

Corporation tax
6,263
-

Other taxation and social security
-
10,245

Accruals and deferred income
5,280
4,455

70,185
151,365



9.


Deferred taxation




2024
2023


£

£






At beginning of year
(1,173)
(1,190)


Charged to profit or loss
-
17



At end of year
(1,173)
(1,173)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(1,173)
(1,173)

(1,173)
(1,173)


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



500 (2023 - 500) Ordinary A Shares shares of £0.002 each-
1
1
500 (2023 - 500) Ordinary B Shares shares of £0.002 each-
1
1

2

2


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Page 9

 
Nacelle Systems Consultancy Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 May 2024

11.


Reserves

Profit and loss account

This balance includes all prior and current periods retained profit and losses.


12.


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 £26,308 (2023 - £28,609). 


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Page 10