Caseware UK (AP4) 2023.0.135 2023.0.135 2024-08-312024-08-31falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-09-01falseNo description of principal activity1413falsetrue 02854924 2023-09-01 2024-08-31 02854924 2022-09-01 2023-08-31 02854924 2024-08-31 02854924 2023-08-31 02854924 c:Director1 2023-09-01 2024-08-31 02854924 d:PlantMachinery 2023-09-01 2024-08-31 02854924 d:PlantMachinery 2024-08-31 02854924 d:PlantMachinery 2023-08-31 02854924 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 02854924 d:FurnitureFittings 2023-09-01 2024-08-31 02854924 d:FurnitureFittings 2024-08-31 02854924 d:FurnitureFittings 2023-08-31 02854924 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 02854924 d:OtherPropertyPlantEquipment 2023-09-01 2024-08-31 02854924 d:OtherPropertyPlantEquipment 2024-08-31 02854924 d:OtherPropertyPlantEquipment 2023-08-31 02854924 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 02854924 d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 02854924 d:CurrentFinancialInstruments 2024-08-31 02854924 d:CurrentFinancialInstruments 2023-08-31 02854924 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 02854924 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 02854924 d:ShareCapital 2024-08-31 02854924 d:ShareCapital 2023-08-31 02854924 d:RetainedEarningsAccumulatedLosses 2024-08-31 02854924 d:RetainedEarningsAccumulatedLosses 2023-08-31 02854924 c:FRS102 2023-09-01 2024-08-31 02854924 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 02854924 c:FullAccounts 2023-09-01 2024-08-31 02854924 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 02854924 d:AcceleratedTaxDepreciationDeferredTax 2024-08-31 02854924 d:AcceleratedTaxDepreciationDeferredTax 2023-08-31 02854924 d:OtherDeferredTax 2024-08-31 02854924 d:OtherDeferredTax 2023-08-31 02854924 2 2023-09-01 2024-08-31 02854924 e:PoundSterling 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure

Registered number: 02854924










CONCEPT CONVERSIONS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2024

 
CONCEPT CONVERSIONS LIMITED
REGISTERED NUMBER:02854924

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
47,778
40,119

  
47,778
40,119

Current assets
  

Stocks
  
162,821
143,099

Debtors: amounts falling due within one year
 5 
447,414
407,685

Cash at bank and in hand
 6 
227,551
387,598

  
837,786
938,382

Creditors: amounts falling due within one year
 7 
(334,031)
(464,493)

Net current assets
  
 
 
503,755
 
 
473,889

Total assets less current liabilities
  
551,533
514,008

Provisions for liabilities
  

Deferred tax
 9 
(7,965)
(9,851)

  
 
 
(7,965)
 
 
(9,851)

Net assets
  
543,568
504,157


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
543,566
504,155

  
543,568
504,157


Page 1

 
CONCEPT CONVERSIONS LIMITED
REGISTERED NUMBER:02854924
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 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 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: 






................................................
S Wright
Director

Date: 4 February 2025

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

Page 2

 
CONCEPT CONVERSIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

Concept Conversions Limited is a members limited liability company, domiciled in England, registered number 02854924, with a registered office of Century House, The Lakes, Northampton, NN4 7HD and a principal trading address at Unit 13, Trinity Centre, Park Farm Industrial Estate, Wellingborough, NN8 6ZB.

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

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.

 
2.3

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.

 
2.4

Interest income

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

Page 3

 
CONCEPT CONVERSIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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.


 
2.7

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 4

 
CONCEPT CONVERSIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

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:

Plant and machinery
-
15% of net book value
Fixtures and fittings
-
15% of net book value and 20% of cost
Property improvements
-
2% of cost

 
2.8

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 balance sheet 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.

 
2.9

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.

 
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. 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.

Page 5

 
CONCEPT CONVERSIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.13

Financial instruments

The Company only enters into basic financial transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
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 year was 14 (2023 - 13).


4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Property improvements
Total

£
£
£
£



Cost or valuation


At 1 September 2023
100,189
21,443
1,052
122,684


Additions
12,254
3,654
-
15,908



At 31 August 2024

112,443
25,097
1,052
138,592



Depreciation


At 1 September 2023
70,043
12,352
170
82,565


Charge for the year on owned assets
5,441
2,787
21
8,249



At 31 August 2024

75,484
15,139
191
90,814



Net book value



At 31 August 2024
36,959
9,958
861
47,778



At 31 August 2023
30,146
9,091
882
40,119

Page 6

 
CONCEPT CONVERSIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

5.


Debtors

2024
2023
£
£


Trade debtors
382,739
356,114

Other debtors
14,646
14,608

Prepayments and accrued income
50,029
36,963

447,414
407,685



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
227,551
387,598



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
206,687
207,706

Amounts owed to group undertakings
-
76,500

Corporation tax
43,241
61,484

Other taxation and social security
46,552
62,875

Other creditors
3,889
2,632

Accruals and deferred income
33,662
53,296

334,031
464,493



8.


Financial instruments

All debtors and creditors are basic financial instruments and are held at amortised cost. 

Page 7

 
CONCEPT CONVERSIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

9.


Deferred taxation




2024


£






At beginning of year
(9,851)


Charged to profit or loss
1,886



At end of year
(7,965)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(11,945)
(10,030)

Other timing differences
3,980
179

 
Page 8