Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31No description of principal activity2023-06-01false22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11987764 2023-06-01 2024-05-31 11987764 2022-06-01 2023-05-31 11987764 2024-05-31 11987764 2023-05-31 11987764 2022-06-01 11987764 c:Director1 2023-06-01 2024-05-31 11987764 d:OfficeEquipment 2023-06-01 2024-05-31 11987764 d:OfficeEquipment 2024-05-31 11987764 d:OfficeEquipment 2023-05-31 11987764 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 11987764 d:FreeholdInvestmentProperty 2024-05-31 11987764 d:FreeholdInvestmentProperty 2023-05-31 11987764 d:FreeholdInvestmentProperty 2 2023-06-01 2024-05-31 11987764 d:CurrentFinancialInstruments 2024-05-31 11987764 d:CurrentFinancialInstruments 2023-05-31 11987764 d:Non-currentFinancialInstruments 2024-05-31 11987764 d:Non-currentFinancialInstruments 2023-05-31 11987764 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 11987764 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 11987764 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 11987764 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 11987764 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-05-31 11987764 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-05-31 11987764 d:ShareCapital 2024-05-31 11987764 d:ShareCapital 2023-05-31 11987764 d:InvestmentPropertiesRevaluationReserve 2024-05-31 11987764 d:InvestmentPropertiesRevaluationReserve 2023-05-31 11987764 d:OtherMiscellaneousReserve 2024-05-31 11987764 d:OtherMiscellaneousReserve 2023-05-31 11987764 d:RetainedEarningsAccumulatedLosses 2024-05-31 11987764 d:RetainedEarningsAccumulatedLosses 2023-05-31 11987764 c:OrdinaryShareClass1 2023-06-01 2024-05-31 11987764 c:OrdinaryShareClass1 2024-05-31 11987764 c:OrdinaryShareClass1 2023-05-31 11987764 c:OrdinaryShareClass2 2023-06-01 2024-05-31 11987764 c:OrdinaryShareClass2 2024-05-31 11987764 c:OrdinaryShareClass2 2023-05-31 11987764 c:OrdinaryShareClass3 2023-06-01 2024-05-31 11987764 c:OrdinaryShareClass3 2024-05-31 11987764 c:OrdinaryShareClass3 2023-05-31 11987764 c:OrdinaryShareClass4 2023-06-01 2024-05-31 11987764 c:OrdinaryShareClass4 2024-05-31 11987764 c:OrdinaryShareClass4 2023-05-31 11987764 c:FRS102 2023-06-01 2024-05-31 11987764 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 11987764 c:FullAccounts 2023-06-01 2024-05-31 11987764 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 11987764 d:AcceleratedTaxDepreciationDeferredTax 2024-05-31 11987764 d:AcceleratedTaxDepreciationDeferredTax 2023-05-31 11987764 d:RetirementBenefitObligationsDeferredTax 2024-05-31 11987764 d:RetirementBenefitObligationsDeferredTax 2023-05-31 11987764 d:OtherDeferredTax 2024-05-31 11987764 d:OtherDeferredTax 2023-05-31 11987764 2 2023-06-01 2024-05-31 11987764 6 2023-06-01 2024-05-31 11987764 f:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 11987764










MIKE CLARKE CONSULTING LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
MIKE CLARKE CONSULTING LIMITED
REGISTERED NUMBER: 11987764

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
38

Investments
 5 
570,725
442,843

Investment property
 6 
115,000
109,601

  
685,725
552,482

Current assets
  

Debtors: amounts falling due within one year
 7 
10,514
8,500

Cash at bank and in hand
 8 
84,022
158,573

  
94,536
167,073

Creditors: amounts falling due within one year
 9 
(289,628)
(304,623)

Net current liabilities
  
 
 
(195,092)
 
 
(137,550)

Total assets less current liabilities
  
490,633
414,932

Creditors: amounts falling due after more than one year
 10 
(85,760)
(90,434)

Provisions for liabilities
  

Deferred tax
 12 
(5,550)
(10)

  
 
 
(5,550)
 
 
(10)

Net assets
  
399,323
324,488


Capital and reserves
  

Called up share capital 
 13 
100
100

Investment property reserve
  
4,049
-

Fair value reserve
  
12,600
-

Profit and loss account
  
382,574
324,388

  
399,323
324,488


Page 1

 
MIKE CLARKE CONSULTING LIMITED
REGISTERED NUMBER: 11987764
    
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 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: 




Michael John Clarke
Director

Date: 26 January 2025

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
MIKE CLARKE CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Mike Clarke Consulting Limited is a private company limited by shares, registered in England and Wales. The registered office and trading address is Denham Lodge, Cross Lane, Weston Underwood, Olney, Buckinghamshire, MK46 5LD.

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.

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'.

Page 3

 
MIKE CLARKE CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
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. 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.

 
2.4

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.

 
2.6

Borrowing costs

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

Page 4

 
MIKE CLARKE CONSULTING LIMITED
 
 
 
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

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, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
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 profit or loss.

 
2.9

Investment property

Investment property is carried at fair value determined annually by the directors and is derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 5

 
MIKE CLARKE CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
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.

 
2.14

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

 
MIKE CLARKE CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.15

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
 

Page 7

 
MIKE CLARKE CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)


2.15
Financial instruments (continued)

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 8

 
MIKE CLARKE CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 June 2023
3,486



At 31 May 2024

3,486



Depreciation


At 1 June 2023
3,448


Charge for the year on owned assets
38



At 31 May 2024

3,486



Net book value



At 31 May 2024
-



At 31 May 2023
38


5.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 June 2023
442,843


Additions
111,082


Revaluations
16,800



At 31 May 2024
570,725




Page 9

 
MIKE CLARKE CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

6.


Investment property


Freehold investment property

£



Valuation


At 1 June 2023
109,601


Surplus on revaluation
5,399



At 31 May 2024
115,000

The 2024 valuations were made by the directors, on an open market value for existing use basis.





7.


Debtors

2024
2023
£
£


Trade debtors
5,000
3,000

Prepayments and accrued income
5,514
5,500

10,514
8,500



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
84,022
158,573


Page 10

 
MIKE CLARKE CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other loans
6,050
8,858

Trade creditors
546
1,389

Corporation tax
19,048
15,531

Other taxation and social security
-
4,259

Other creditors
262,147
272,565

Accruals and deferred income
1,837
2,021

289,628
304,623



10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
60,640
63,874

Other creditors
25,120
26,560

85,760
90,434



11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Other loans
6,050
8,858


Amounts falling due 2-5 years

Other loans
60,640
63,874


66,690
72,732


Page 11

 
MIKE CLARKE CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

12.


Deferred taxation




2024
2023


£

£






At beginning of year
10
109


Charged to profit or loss
5,540
(99)



At end of year
5,550
10

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
-
10

Fair value movement on fixed asset investments
4,200
-

Fair value movement on investment property
1,350
-

5,550
10


13.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



60 (2023 - 60) 'A' Ordinary shares of £1.00 each
60
60
30 (2023 - 30) 'B' Ordinary shares of £1.00 each
30
30
5 (2023 - 5) 'C' Ordinary shares of £1.00 each
5
5
5 (2023 - 5) 'D' Ordinary shares of £1.00 each
5
5

100

100



14.


Capital commitments


At 31 May 2024 the Company had capital commitments as follows:

2024
2023
£
£


Contracted for but not provided in these financial statements
212,497
323,479

 
Page 12