Caseware UK (AP4) 2023.0.135 2023.0.135 2024-08-312024-08-31falsefalse122023-09-01No description of principal activity12truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02386288 2023-09-01 2024-08-31 02386288 2022-09-01 2023-08-31 02386288 2024-08-31 02386288 2023-08-31 02386288 c:Director2 2023-09-01 2024-08-31 02386288 d:PlantMachinery 2023-09-01 2024-08-31 02386288 d:PlantMachinery 2024-08-31 02386288 d:PlantMachinery 2023-08-31 02386288 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 02386288 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-09-01 2024-08-31 02386288 d:MotorVehicles 2023-09-01 2024-08-31 02386288 d:MotorVehicles 2024-08-31 02386288 d:MotorVehicles 2023-08-31 02386288 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 02386288 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-09-01 2024-08-31 02386288 d:OfficeEquipment 2023-09-01 2024-08-31 02386288 d:OfficeEquipment 2024-08-31 02386288 d:OfficeEquipment 2023-08-31 02386288 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 02386288 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-09-01 2024-08-31 02386288 d:OtherPropertyPlantEquipment 2023-09-01 2024-08-31 02386288 d:OtherPropertyPlantEquipment 2024-08-31 02386288 d:OtherPropertyPlantEquipment 2023-08-31 02386288 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 02386288 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2023-09-01 2024-08-31 02386288 d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 02386288 d:LeasedAssetsHeldAsLessee 2023-09-01 2024-08-31 02386288 d:Goodwill 2023-09-01 2024-08-31 02386288 d:Goodwill 2024-08-31 02386288 d:Goodwill 2023-08-31 02386288 d:CurrentFinancialInstruments 2024-08-31 02386288 d:CurrentFinancialInstruments 2023-08-31 02386288 d:Non-currentFinancialInstruments 2024-08-31 02386288 d:Non-currentFinancialInstruments 2023-08-31 02386288 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 02386288 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 02386288 d:Non-currentFinancialInstruments d:AfterOneYear 2024-08-31 02386288 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 02386288 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-08-31 02386288 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-08-31 02386288 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-08-31 02386288 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-08-31 02386288 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-08-31 02386288 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-08-31 02386288 d:ShareCapital 2024-08-31 02386288 d:ShareCapital 2023-08-31 02386288 d:RevaluationReserve 2024-08-31 02386288 d:RevaluationReserve 2023-08-31 02386288 d:RetainedEarningsAccumulatedLosses 2024-08-31 02386288 d:RetainedEarningsAccumulatedLosses 2023-08-31 02386288 c:OrdinaryShareClass1 2023-09-01 2024-08-31 02386288 c:OrdinaryShareClass1 2024-08-31 02386288 c:OrdinaryShareClass1 2023-08-31 02386288 c:OrdinaryShareClass2 2023-09-01 2024-08-31 02386288 c:OrdinaryShareClass2 2024-08-31 02386288 c:OrdinaryShareClass2 2023-08-31 02386288 c:OrdinaryShareClass3 2023-09-01 2024-08-31 02386288 c:OrdinaryShareClass3 2024-08-31 02386288 c:OrdinaryShareClass3 2023-08-31 02386288 c:FRS102 2023-09-01 2024-08-31 02386288 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 02386288 c:FullAccounts 2023-09-01 2024-08-31 02386288 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 02386288 d:HirePurchaseContracts d:WithinOneYear 2024-08-31 02386288 d:HirePurchaseContracts d:WithinOneYear 2023-08-31 02386288 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-08-31 02386288 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-08-31 02386288 2 2023-09-01 2024-08-31 02386288 5 2023-09-01 2024-08-31 02386288 d:Goodwill d:OwnedIntangibleAssets 2023-09-01 2024-08-31 02386288 e:PoundSterling 2023-09-01 2024-08-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 02386288










RESPOL LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

 
RESPOL LIMITED
REGISTERED NUMBER: 02386288

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
10,900
21,800

Tangible assets
 5 
174,777
173,535

  
185,677
195,335

Current assets
  

Stocks
  
12,000
10,000

Debtors: amounts falling due within one year
 6 
397,751
350,566

Cash at bank and in hand
 7 
28,248
24,401

  
437,999
384,967

Creditors: amounts falling due within one year
 8 
(426,692)
(372,859)

Net current assets
  
 
 
11,307
 
 
12,108

Total assets less current liabilities
  
196,984
207,443

Creditors: amounts falling due after more than one year
 9 
(64,259)
(73,425)

Provisions for liabilities
  

Deferred tax
  
(12,800)
(14,180)

  
 
 
(12,800)
 
 
(14,180)

Net assets
  
119,925
119,838


Capital and reserves
  

Called up share capital 
  
101
101

Revaluation reserve
  
92,375
92,375

Profit and loss account
  
27,449
27,362

  
119,925
119,838


Page 1

 
RESPOL LIMITED
REGISTERED NUMBER: 02386288
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 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 profit and loss account 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: 




Mrs J Turley
Director

Date: 19 February 2025

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

Page 2

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

1.


General information

Respol Limited, 02386288, is a private limited company, limited by shares, incorporated in England and Wales, with a registered office address and principal place of business at Respol Limited, Overley,Telford, Shropshire, TF6 5HD.

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

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Page 3

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

2.Accounting policies (continued)

 
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.

 
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.

 
2.7

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.

Page 4

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

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 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.


 
2.9

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Profit and loss account over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

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.

Page 5

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

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

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 and reducing balance method.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
straight line
Motor vehicles
-
25%
reducing balance
Office equipment
-
20%
straight line
Other fixed assets
-
20%
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.

 
2.11

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.13

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.

Page 6

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

2.Accounting policies (continued)

 
2.14

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.

 
2.15

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.

 
2.16

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.

 
2.17

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 12 (2023 - 12).

Page 7

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

4.


Intangible assets




Goodwill

£



Cost


At 1 September 2023
109,000



At 31 August 2024

109,000



Amortisation


At 1 September 2023
87,200


Charge for the year on owned assets
10,900



At 31 August 2024

98,100



Net book value



At 31 August 2024
10,900



At 31 August 2023
21,800



Page 8

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

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Other fixed assets
Total

£
£
£
£
£



Cost or valuation


At 1 September 2023
194,847
63,539
14,017
13,480
285,883


Additions
20,030
15,995
332
-
36,357


Disposals
(3,959)
-
-
-
(3,959)



At 31 August 2024

210,918
79,534
14,349
13,480
318,281



Depreciation


At 1 September 2023
84,626
13,740
3,198
10,784
112,348


Charge for the year on owned assets
7,456
-
340
2,696
10,492


Charge for the year on financed assets
4,175
7,176
-
-
11,351


Disposals
(2,375)
11,688
-
-
9,313



At 31 August 2024

93,882
32,604
3,538
13,480
143,504



Net book value



At 31 August 2024
117,036
46,930
10,811
-
174,777



At 31 August 2023
110,221
49,799
10,819
2,696
173,535


6.


Debtors

2024
2023
£
£


Trade debtors
345,871
299,177

Other debtors
51,378
50,930

Prepayments and accrued income
502
459

397,751
350,566


Page 9

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

7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
28,248
24,401

Less: bank overdrafts
(133,096)
(128,101)

(104,848)
(103,700)



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
133,096
128,101

Bank loans
49,919
39,835

Trade creditors
107,849
98,938

Other taxation and social security
109,874
91,708

Obligations under finance lease and hire purchase contracts
15,903
8,174

Other creditors
6,413
3,231

Accruals and deferred income
3,638
2,872

426,692
372,859



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
61,695
65,587

Net obligations under finance leases and hire purchase contracts
2,564
7,838

64,259
73,425


Page 10

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

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
49,919
39,835


49,919
39,835

Amounts falling due 1-2 years

Bank loans
10,079
12,776


10,079
12,776

Amounts falling due 2-5 years

Bank loans
30,238
51,573


30,238
51,573

Amounts falling due after more than 5 years

Bank loans
21,378
1,238

21,378
1,238

111,614
105,422



11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
15,903
8,174

Between 1-5 years
2,564
7,838

18,467
16,012

Page 11

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

12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



52 (2023 - 52) Ordinary A shares of £1.00 each
52
52
25 (2023 - 25) Ordinary B shares of £1.00 each
25
25
24 (2023 - 24) Ordinary C shares of £1.00 each
24
24

101

101


 
Page 12