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Registered number: 07244880










THE S&A TRANSFORM GROUP LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
THE S&A TRANSFORM GROUP LIMITED
REGISTERED NUMBER: 07244880

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
44,302
76,773

  
44,302
76,773

Current assets
  

Debtors: amounts falling due within one year
 6 
4,792,878
4,515,604

Cash at bank and in hand
 7 
191,537
504,539

  
4,984,415
5,020,143

Creditors: amounts falling due within one year
 8 
(1,010,976)
(1,440,733)

Net current assets
  
 
 
3,973,439
 
 
3,579,410

Total assets less current liabilities
  
4,017,741
3,656,183

  

Net assets
  
4,017,741
3,656,183


Capital and reserves
  

Called up share capital 
  
10,000
10,000

Profit and loss account
  
4,007,741
3,646,183

  
4,017,741
3,656,183


Page 1

 
THE S&A TRANSFORM GROUP LIMITED
REGISTERED NUMBER: 07244880
    
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 comprehensive income 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: 




D Coomer
Director

Date: 26 February 2025

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

Page 2

 
THE S&A TRANSFORM GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

The S&A Transform Group Limited is a private company, limited by shares, incorporated in England and Wales. The registered office of the company is 6th Floor, 2 London Wall Place, London, United Kingdom, EC2Y 5AU.

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 financial statements are presented in sterling, which is the functional currency of the company, rounded to the nearest £1.

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

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

 
THE S&A TRANSFORM GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
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

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.

 
2.7

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.


Page 4

 
THE S&A TRANSFORM GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
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, on a reducing balance basis.

Depreciation is provided on the following basis:

Leasehold improvements
-
5 year straight line
Office equipment
-
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.

 
2.9

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

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.

Page 5

 
THE S&A TRANSFORM GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 9 (2023 - 9).


4.


Dividends

2024
2023
£
£


Dividends paid on equity capital
250,000
4,000

250,000
4,000


5.


Tangible fixed assets





Leasehold   improvements
Office equipment
Total

£
£
£



Cost or valuation


At 1 June 2023
146,851
57,566
204,417


Additions
-
4,408
4,408



At 31 May 2024

146,851
61,974
208,825



Depreciation


At 1 June 2023
96,511
31,133
127,644


Charge for the year 
29,370
7,509
36,879



At 31 May 2024

125,881
38,642
164,523



Net book value



At 31 May 2024
20,970
23,332
44,302



At 31 May 2023
50,340
26,433
76,773

Page 6

 
THE S&A TRANSFORM GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

6.


Debtors

2024
2023
£
£


Trade debtors
1,279,913
1,437,409

Amounts owed by group companies
1,688,936
1,359,863

Other debtors
1,824,029
1,718,332

4,792,878
4,515,604



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
191,537
504,539

191,537
504,539


There is a fixed and floating charge in issue over the assets of the company. The charge is in relation to an overdraft facility on the company's bank account.


8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
613,501
899,266

Corporation tax
93,599
131,012

Other taxation and social security
242,082
227,441

Other creditors
44,247
147,061

Accruals and deferred income
17,547
35,953

1,010,976
1,440,733



9.


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 £18,839 (2023 - £14,463). Contributions totalling £1,932 (2023 - £2,519) were payable to the fund at the balance sheet date and are included in creditors.

Page 7

 
THE S&A TRANSFORM GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

10.


Transactions with directors

During the year the company made advances of £314,884 (2023 - £59,536) to Mr D Coomer, and received credits of £270,000 (2023 - £20,000). Interest of £41,566 (2023 - £35,333) has been charged at commercial rates on overdrawn balances. As at 31 May 2023, the director owed the company £1,418,674 (2023 - £1,332,224). The loan is unsecured and repayable on demand. 


11.


Related party transactions

Included within debtors due within one year at the balance sheet date, specifically within amounts owed by group companies, is an amount owed by Credersi Ltd of £1,253,863 (2022 - £580,000) and an amount owed by The S&A Transform Academy Ltd of £106,000 (2022 - £nil) in the form of loans. Both these entities are wholly owned subsidiaries of Moorfield Holdings. The loans are unsecured, interest free and repayable on demand.


12.


Parent entity and controlling party

The company is a wholly owned subsidiary of Moorfield Holdings Limited, a company incorporated on 18 August 2017. Moorfield Holdings Limited was under the joint control of Mr D Coomer and Mrs C Coomer throughout the current and prior year.

 
Page 8