Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.22023-08-01falseThe prinicpal activity of the company was that of consultancy.2truetrue 10886329 2023-08-01 2024-07-31 10886329 2022-08-01 2023-07-31 10886329 2024-07-31 10886329 2023-07-31 10886329 c:Director1 2023-08-01 2024-07-31 10886329 d:FurnitureFittings 2023-08-01 2024-07-31 10886329 d:FurnitureFittings 2024-07-31 10886329 d:FurnitureFittings 2023-07-31 10886329 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 10886329 d:CurrentFinancialInstruments 2024-07-31 10886329 d:CurrentFinancialInstruments 2023-07-31 10886329 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 10886329 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 10886329 d:ShareCapital 2024-07-31 10886329 d:ShareCapital 2023-07-31 10886329 d:RetainedEarningsAccumulatedLosses 2024-07-31 10886329 d:RetainedEarningsAccumulatedLosses 2023-07-31 10886329 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-07-31 10886329 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-07-31 10886329 c:FRS102 2023-08-01 2024-07-31 10886329 c:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 10886329 c:FullAccounts 2023-08-01 2024-07-31 10886329 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 10886329 2 2023-08-01 2024-07-31 10886329 6 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Registered number: 10886329









INTELLIGENT COUNSEL LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

 
INTELLIGENT COUNSEL LIMITED
REGISTERED NUMBER: 10886329

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,035
1,381

Investments
 5 
66,697
54,192

  
67,732
55,573

Current assets
  

Debtors: amounts falling due within one year
 6 
17,972
23,298

Cash at bank and in hand
 7 
69,669
25,862

  
87,641
49,160

Creditors: amounts falling due within one year
 8 
(37,752)
(63,027)

Net current assets/(liabilities)
  
 
 
49,889
 
 
(13,867)

Total assets less current liabilities
  
117,621
41,706

  

Net assets
  
117,621
41,706


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
117,521
41,606

  
117,621
41,706


Page 1

 
INTELLIGENT COUNSEL LIMITED
REGISTERED NUMBER: 10886329
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 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 on 20 February 2025.




................................................
Matthew Burgess
Director

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

Page 2

 
INTELLIGENT COUNSEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Intelligent Counsel Limited is a private company limited by shares, incorporated in England and Wales. The principal activity throughout the year was the provision of 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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

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:

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.

 
2.3

Interest income

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

 
2.4

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.

Page 3

 
INTELLIGENT COUNSEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 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

Taxation

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.

 
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.

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:

Fixtures and fittings
-
25% reducing balance

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.

 
2.8

Valuation of investments

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.

Page 4

 
INTELLIGENT COUNSEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
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

Financial instruments

The Company only enters into basic financial instrument 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.

 
2.13

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 2 (2023 - 2).

Page 5

 
INTELLIGENT COUNSEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 August 2023
4,021



At 31 July 2024

4,021



Depreciation


At 1 August 2023
2,640


Charge for the year on owned assets
346



At 31 July 2024

2,986



Net book value



At 31 July 2024
1,035



At 31 July 2023
1,381


5.


Fixed asset investments





Other fixed asset investments

£



Cost or valuation


At 1 August 2023
54,192


Revaluations
12,505



At 31 July 2024
66,697




Page 6

 
INTELLIGENT COUNSEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

6.


Debtors

2024
2023
£
£


Trade debtors
17,784
23,124

Prepayments and accrued income
188
174

17,972
23,298



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
69,669
25,862

69,669
25,862



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
222
210

Corporation tax
25,878
24,268

Other taxation and social security
9,496
7,574

Other creditors
931
29,805

Accruals and deferred income
1,225
1,170

37,752
63,027



9.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
69,669
25,862




Financial assets measured at fair value through profit or loss comprise cash at bank.

Page 7

 
INTELLIGENT COUNSEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

10.


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 £12,000 (2023 - £Nil) 


11.


Controlling party

There is no overall controlling party.
 
Page 8