Caseware UK (AP4) 2023.0.135 2023.0.135 2024-08-312024-08-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.1true2023-09-01falseProfessional services1truefalse 06372978 2023-09-01 2024-08-31 06372978 2022-09-01 2023-08-31 06372978 2024-08-31 06372978 2023-08-31 06372978 c:Director1 2023-09-01 2024-08-31 06372978 d:CurrentFinancialInstruments 2024-08-31 06372978 d:CurrentFinancialInstruments 2023-08-31 06372978 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 06372978 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 06372978 d:ShareCapital 2024-08-31 06372978 d:ShareCapital 2023-08-31 06372978 d:CapitalRedemptionReserve 2024-08-31 06372978 d:CapitalRedemptionReserve 2023-08-31 06372978 d:RetainedEarningsAccumulatedLosses 2024-08-31 06372978 d:RetainedEarningsAccumulatedLosses 2023-08-31 06372978 c:FRS102 2023-09-01 2024-08-31 06372978 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 06372978 c:FullAccounts 2023-09-01 2024-08-31 06372978 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 06372978 2 2023-09-01 2024-08-31 06372978 e:PoundSterling 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure
Registered number: 06372978






UMACS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024










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UMACS LIMITED
REGISTERED NUMBER:06372978

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
160
399

Cash at bank and in hand
 5 
75,562
79,597

  
75,722
79,996

Creditors: amounts falling due within one year
 6 
(5,423)
(6,702)

Net current assets
  
 
 
70,299
 
 
73,294

Total assets less current liabilities
  
70,299
73,294

  

Net assets
  
70,299
73,294


Capital and reserves
  

Called up share capital 
  
40
40

Capital redemption reserve
  
60
60

Profit and loss account
  
70,199
73,194

  
70,299
73,294


Page 1

 
UMACS LIMITED
REGISTERED NUMBER:06372978
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

The director considers 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 director acknowledges his 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: 




................................................
F McLoughlin
Director

Date: 10 February 2025

Page 2

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

1.


General information

UMACS Limited is a private company limited by share capital, incorporated in England and Wales, registration numbers 06372978. The address of the registered office is Millhouse, 32-38 East Street, Rochford, Essex, SS4 1DB.
The principal activity of the company during the year was provision of management consultancy services.

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

Going concern

Taking into account a period exceeding 12 months from the date of approval of these financial statements, the Directors have a reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future, and for this reason will continue to adopt the going concern basis in the preparation of its financial statements.

 
2.3

Interest income

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

 
2.4

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.

 
2.5

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.

 
2.6

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 3

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

2.Accounting policies (continued)

 
2.7

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.

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

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) 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 debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

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.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is 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 creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments 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 creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment
Page 4

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

2.Accounting policies (continued)


2.7
Financial instruments (continued)

is due within one year. If not, they represent non-current liabilities. Trade creditors 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.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

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 1 (2023 -1).

Page 5

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

4.


Debtors

2024
2023
£
£


Other debtors
120
399

Prepayments and accrued income
40
-

160
399



5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
75,562
79,597

75,562
79,597



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
720
-

Amounts owed to group undertakings
2,903
4,902

Accruals and deferred income
1,800
1,800

5,423
6,702


 
Page 6