Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-319truetrue2023-01-01falseNo description of principal activity9The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03381647 2023-01-01 2023-12-31 03381647 2022-01-01 2022-12-31 03381647 2023-12-31 03381647 2022-12-31 03381647 2022-01-01 03381647 c:Director4 2023-01-01 2023-12-31 03381647 d:FurnitureFittings 2023-01-01 2023-12-31 03381647 d:FurnitureFittings 2023-12-31 03381647 d:FurnitureFittings 2022-12-31 03381647 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03381647 d:ComputerEquipment 2023-01-01 2023-12-31 03381647 d:ComputerEquipment 2023-12-31 03381647 d:ComputerEquipment 2022-12-31 03381647 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03381647 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03381647 d:CurrentFinancialInstruments 2023-12-31 03381647 d:CurrentFinancialInstruments 2022-12-31 03381647 d:Non-currentFinancialInstruments 2023-12-31 03381647 d:Non-currentFinancialInstruments 2022-12-31 03381647 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 03381647 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 03381647 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 03381647 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 03381647 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 03381647 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 03381647 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 03381647 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 03381647 d:ShareCapital 2023-12-31 03381647 d:ShareCapital 2022-12-31 03381647 d:RetainedEarningsAccumulatedLosses 2023-12-31 03381647 d:RetainedEarningsAccumulatedLosses 2022-12-31 03381647 c:FRS102 2023-01-01 2023-12-31 03381647 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 03381647 c:FullAccounts 2023-01-01 2023-12-31 03381647 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03381647 2 2023-01-01 2023-12-31 03381647 d:RetirementBenefitObligationsDeferredTax 2023-12-31 03381647 d:RetirementBenefitObligationsDeferredTax 2022-12-31 03381647 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 03381647










L&P TRUSTEE SERVICES (UK) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
L&P TRUSTEE SERVICES (UK) LIMITED
REGISTERED NUMBER: 03381647

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,047
4,411

  
2,047
4,411

Current assets
  

Debtors: amounts falling due within one year
 5 
310,290
392,373

Cash at bank and in hand
 6 
90,159
163,967

  
400,449
556,340

Creditors: amounts falling due within one year
 7 
(287,763)
(300,329)

Net current assets
  
 
 
112,686
 
 
256,011

Total assets less current liabilities
  
114,733
260,422

Creditors: amounts falling due after more than one year
 8 
(14,590)
(27,120)

  

Net assets
  
100,143
233,302


Capital and reserves
  

Called up share capital 
  
100,000
100,000

Profit and loss account
  
143
133,302

  
100,143
233,302


Page 1

 
L&P TRUSTEE SERVICES (UK) LIMITED
REGISTERED NUMBER: 03381647
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

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: 




Duncan Patrick Hughes
Director

Date: 10 February 2025

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

Page 2

 
L&P TRUSTEE SERVICES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

L&P Trustee Services UK Limited is a private limited company, limited by shares, incorporated in England and Wales. The address of the registered office is Capricorn House, 5 Birchall Street, Liverpool, Merseyside, L20 8PD. The company number is 3381647. The principal activity of the company is that of an independent software house specialising in the design, development, marketing and support of employee pension benefit software solutions. 
These financial statements present information about the company as an individual undertaking. 
The presentation currency of these financial statements is £ sterling; the financial statements are rounded to the nearest £.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

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

 
L&P TRUSTEE SERVICES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

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

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.

 
2.5

Interest income

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

 
2.6

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.

 
2.7

Borrowing costs

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

Page 4

 
L&P TRUSTEE SERVICES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

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.


 
2.9

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.

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:

Fixtures and fittings
-
20%
straight line
Computer 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.

Page 5

 
L&P TRUSTEE SERVICES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

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.

 
2.11

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.

 
2.12

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.

 
2.13

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 9 (2022 - 9).

Page 6

 
L&P TRUSTEE SERVICES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
3,959
53,169
57,128



At 31 December 2023

3,959
53,169
57,128



Depreciation


At 1 January 2023
3,959
48,758
52,717


Charge for the year on owned assets
-
2,364
2,364



At 31 December 2023

3,959
51,122
55,081



Net book value



At 31 December 2023
-
2,047
2,047



At 31 December 2022
-
4,411
4,411


5.


Debtors

2023
2022
£
£


Trade debtors
48,701
47,065

Amounts owed by group undertakings
208,675
314,084

Other debtors
35,064
13,374

Deferred taxation
17,850
17,850

310,290
392,373


Page 7

 
L&P TRUSTEE SERVICES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
90,159
163,967

Less: bank overdrafts
-
(820)

90,159
163,147



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
-
820

Bank loans
10,063
9,839

Trade creditors
33,515
2,436

Amounts owed to group undertakings
183,559
130,022

Corporation tax
5,765
11,953

Other taxation and social security
36,069
49,386

Other creditors
18,792
20,873

Accruals and deferred income
-
75,000

287,763
300,329



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
14,590
27,120

14,590
27,120


Page 8

 
L&P TRUSTEE SERVICES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans < 1 yr
10,063
9,839


10,063
9,839

Amounts falling due 1-2 years

Bank loans
10,317
5,557


10,317
5,557

Amounts falling due 2-5 years

Bank loans
4,273
21,563


4,273
21,563


24,653
36,959


Page 9

 
L&P TRUSTEE SERVICES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Deferred taxation




2023
2022


£

£






At beginning of year
17,850
17,850



At end of year
17,850
17,850

The deferred tax asset is made up as follows:

2023
2022
£
£


Other timing differences
17,850
17,850

17,850
17,850


11.


Controlling party

The company's parent is L&P Software Services Limited. The ultimate controlling party is G. Brown by virtue of his shareholding.

Page 10