Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-312024-05-31false2023-06-01falseNo description of principal activityfalsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10677963 2023-06-01 2024-05-31 10677963 2022-06-01 2023-05-31 10677963 2024-05-31 10677963 2023-05-31 10677963 c:Director1 2023-06-01 2024-05-31 10677963 d:Buildings 2023-06-01 2024-05-31 10677963 d:PlantMachinery 2023-06-01 2024-05-31 10677963 d:FurnitureFittings 2023-06-01 2024-05-31 10677963 d:ComputerEquipment 2023-06-01 2024-05-31 10677963 d:CurrentFinancialInstruments 2024-05-31 10677963 d:CurrentFinancialInstruments 2023-05-31 10677963 d:Non-currentFinancialInstruments 2024-05-31 10677963 d:Non-currentFinancialInstruments 2023-05-31 10677963 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 10677963 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 10677963 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 10677963 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 10677963 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-05-31 10677963 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-05-31 10677963 d:ShareCapital 2024-05-31 10677963 d:ShareCapital 2023-05-31 10677963 d:RetainedEarningsAccumulatedLosses 2024-05-31 10677963 d:RetainedEarningsAccumulatedLosses 2023-05-31 10677963 d:RetainedEarningsAccumulatedLosses 2022-06-01 10677963 c:FRS102 2023-06-01 2024-05-31 10677963 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 10677963 c:FullAccounts 2023-06-01 2024-05-31 10677963 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 10677963 d:Subsidiary1 2023-06-01 2024-05-31 10677963 d:Subsidiary1 1 2023-06-01 2024-05-31 10677963 d:Subsidiary2 2023-06-01 2024-05-31 10677963 d:Subsidiary2 1 2023-06-01 2024-05-31 10677963 d:Subsidiary3 2023-06-01 2024-05-31 10677963 d:Subsidiary3 1 2023-06-01 2024-05-31 10677963 c:Consolidated 2024-05-31 10677963 c:ConsolidatedGroupCompanyAccounts 2023-06-01 2024-05-31 10677963 5 2023-06-01 2024-05-31 10677963 6 2023-06-01 2024-05-31 10677963 d:AcceleratedTaxDepreciationDeferredTax 2024-05-31 10677963 d:TaxLossesCarry-forwardsDeferredTax 2024-05-31 10677963 d:RetirementBenefitObligationsDeferredTax 2024-05-31 10677963 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Registered number: 10677963










CONSTANT EQUITY ALPHA LIMITED 
AND ITS SUBSIDARY UNDERTAKINGS







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
CONSTANT EQUITY ALPHA LIMITED AND ITS SUBSIDARY UNDERTAKINGS
REGISTERED NUMBER: 10677963

CONSOLIDATED BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
529,079
739,975

Tangible assets
 5 
739,676
775,619

  
1,268,755
1,515,594

Current assets
  

Stocks
  
506,508
620,563

Debtors: amounts falling due within one year
 7 
570,952
531,300

Cash at bank and in hand
 8 
304,046
137,193

  
1,381,506
1,289,056

Creditors: amounts falling due within one year
 9 
(552,968)
(537,250)

Net current assets
  
 
 
828,538
 
 
751,806

Total assets less current liabilities
  
2,097,293
2,267,400

Creditors: amounts falling due after more than one year
 10 
(1,641,971)
(1,740,951)

Provisions for liabilities
  

Deferred taxation
  
(13,525)
-

  
 
 
(13,525)
 
 
-

Net assets
  
441,797
526,449


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
440,797
525,449

Equity attributable to owners of the parent Company
  
441,797
526,449


Page 1

 
CONSTANT EQUITY ALPHA LIMITED AND ITS SUBSIDARY UNDERTAKINGS
REGISTERED NUMBER: 10677963
    
CONSOLIDATED 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 consolidated 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: 





................................................
P K Moxon
Director

Date: 10 March 2025

The notes on pages 5 to 16 form part of these financial statements.

Page 2

 
CONSTANT EQUITY ALPHA LIMITED AND ITS SUBSIDARY UNDERTAKINGS
REGISTERED NUMBER: 10677963

COMPANY BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
41,502
54,303

Investments
 6 
6,039,771
6,039,771

  
6,081,273
6,094,074

Current assets
  

Debtors: amounts falling due within one year
 7 
148,479
83,893

Cash at bank and in hand
 8 
46,517
33,365

  
194,996
117,258

Creditors: amounts falling due within one year
 9 
(3,363,044)
(3,400,535)

Net current liabilities
  
 
 
(3,168,048)
 
 
(3,283,277)

Total assets less current liabilities
  
2,913,225
2,810,797

  

Creditors: amounts falling due after more than one year
 10 
(1,641,971)
(1,740,951)

Provisions for liabilities
  

Deferred taxation
  
(10,376)
-

  
 
 
(10,376)
 
 
-

Net assets
  
1,260,878
1,069,846


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account brought forward
  
1,068,847
846,548

Profit for the year
  
191,031
222,298

Profit and loss account carried forward
  
1,259,878
1,068,846

  
1,260,878
1,069,846


Page 3

 
CONSTANT EQUITY ALPHA LIMITED AND ITS SUBSIDARY UNDERTAKINGS
REGISTERED NUMBER: 10677963
    
COMPANY BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024

The directors consider that the Company is entitled to exemption from the requirement to have an audit under the provisions of 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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 consolidated 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: 





................................................
P K Moxon
Director

Date: 10 March 2025

The notes on pages 5 to 16 form part of these financial statements.

Page 4

 
CONSTANT EQUITY ALPHA LIMITED AND ITS SUBSIDARY UNDERTAKINGS
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Constant Equity Alpha Limited is a private company limited by shares, registered in England and Wales, number 10677963. The registered office and principal place of business is Baird Road, Willowbrook Industrial Estate, Corby, NN17 5ZA.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The consolidated 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 Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Income and Retained Earnings in these financial statements.

The following principal accounting policies have been applied:

  
2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance Sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Income and Retained Earnings from the date on which control is obtained. They are deconsolidated from the date control ceases.

Page 5

 
CONSTANT EQUITY ALPHA LIMITED AND ITS SUBSIDARY UNDERTAKINGS
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.3

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 Consolidated 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 6

 
CONSTANT EQUITY ALPHA LIMITED AND ITS SUBSIDARY UNDERTAKINGS
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group 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 Group has transferred the significant risks and rewards of ownership to the buyer;
the Group 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 Group 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 Group 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.

 
2.5

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
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.

Page 7

 
CONSTANT EQUITY ALPHA LIMITED AND ITS SUBSIDARY UNDERTAKINGS
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.7

Borrowing costs

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

 
2.8

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group 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 Group in independently administered funds.

 
2.9

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 and the Group operate and generate 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;
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

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.


Page 8

 
CONSTANT EQUITY ALPHA LIMITED AND ITS SUBSIDARY UNDERTAKINGS
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

  
2.10

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 the Group's share 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 over between five and eight and half years on a straight line basis to the Consolidated Statement of Income and Retained Earnings.
Computer software
Computer software is measured at cost less accumulated amortisation. Computer software is amortised at 33.33% on a straight line basis to the Consolidated Statement of Income and Retained Earnings.

 
2.11

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.

Land is not depreciated. Depreciation on other assets 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:

Freehold property
-
2%
Plant and machinery
-
15%
Fixtures and fittings
-
15%
Computer equipment
-
33%

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 9

 
CONSTANT EQUITY ALPHA LIMITED AND ITS SUBSIDARY UNDERTAKINGS
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.12

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.

 
2.13

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.14

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.

 
2.15

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.

 
2.16

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.

 
2.17

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 10

 
CONSTANT EQUITY ALPHA LIMITED AND ITS SUBSIDARY UNDERTAKINGS
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.18

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 19 (2023 - 22).


4.


Intangible assets

Group





Computer software
Goodwill
Total

£
£
£



Cost


At 1 June 2023
74,497
1,750,113
1,824,610


Additions - internal
16,693
-
16,693



At 31 May 2024

91,190
1,750,113
1,841,303



Amortisation


At 1 June 2023
20,194
1,064,441
1,084,635


Charge for the year on owned assets
29,494
198,095
227,589



At 31 May 2024

49,688
1,262,536
1,312,224



Net book value



At 31 May 2024
41,502
487,577
529,079



At 31 May 2023
54,303
685,672
739,975



Page 11

 
CONSTANT EQUITY ALPHA LIMITED AND ITS SUBSIDARY UNDERTAKINGS
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


Tangible fixed assets

Group






Freehold property
Plant and machinery
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 June 2023
754,841
264,971
23,014
63,273
1,106,099


Additions
-
3,720
-
3,996
7,716



At 31 May 2024

754,841
268,691
23,014
67,269
1,113,815



Depreciation


At 1 June 2023
59,335
199,120
18,211
53,814
330,480


Charge for the year on owned assets
10,231
23,954
2,150
7,324
43,659



At 31 May 2024

69,566
223,074
20,361
61,138
374,139



Net book value



At 31 May 2024
685,275
45,617
2,653
6,131
739,676



At 31 May 2023
695,506
65,851
4,803
9,459
775,619

The valuation on freehold property was made by Underwoods LLP, chartered surveyors, on an open market for existing use basis in February 2017.

Page 12

 
CONSTANT EQUITY ALPHA LIMITED AND ITS SUBSIDARY UNDERTAKINGS
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

6.


Fixed asset investments

Company





Investments in subsidiary companies

£



Cost or valuation


At 1 June 2023
6,039,771



At 31 May 2024
6,039,771





Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Registered office

Class of shares

Holding

Keencut Technology Limited
Baird Road, Willowbrook Industrial Estate, Corby, NN17 5ZA
Ordinary
100%
Keencut Limited
Baird Road, Willowbrook Industrial Estate, Corby, NN17 5ZA
Ordinary
100%
Keencut Inc
1675 South State Steet, Suite B, Dover, Kent County, Delaware 19901
Ordinary
100%


7.


Debtors

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£


Trade debtors
438,544
380,662
-
-

Amounts owed by group undertakings
-
-
148,479
52,619

Other debtors
80,288
54,002
-
-

Prepayments and accrued income
52,120
96,636
-
31,274

570,952
531,300
148,479
83,893


Page 13

 
CONSTANT EQUITY ALPHA LIMITED AND ITS SUBSIDARY UNDERTAKINGS
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

8.


Cash and cash equivalents

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Cash at bank and in hand
304,046
137,193
46,517
33,365

304,046
137,193
46,517
33,365



9.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Bank loans
130,000
130,000
130,000
130,000

Trade creditors
154,527
240,047
18,437
84,246

Amounts owed to group undertakings
3,019
-
3,111,235
3,108,216

Corporation tax
59,527
37,308
-
-

Other taxation and social security
61,804
26,053
34,772
9,524

Other creditors
70,976
65,000
65,000
65,000

Accruals and deferred income
73,115
38,842
3,600
3,549

552,968
537,250
3,363,044
3,400,535


The bank loan and deferred consideration shown in other creditors are secured by way of fixed and floating charges over the Group's assets.


10.


Creditors: Amounts falling due after more than one year

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Bank loans
15,001
145,001
15,001
145,001

Other creditors
1,626,970
1,595,950
1,626,970
1,595,950

1,641,971
1,740,951
1,641,971
1,740,951


The bank loan and deferred consideration shown in other creditors are secured by way of fixed and floating charges over the Group's assets.

Page 14

 
CONSTANT EQUITY ALPHA LIMITED AND ITS SUBSIDARY UNDERTAKINGS
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

11.


Loans


Analysis of the maturity of loans is given below:


Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Amounts falling due within one year

Bank loans
130,000
130,000
130,000
130,000

Amounts falling due 1-2 years

Bank loans
15,001
145,001
15,001
145,001



145,001
275,001
145,001
275,001



12.


Deferred taxation


Group



2024


£






Charged to profit or loss
(13,525)



At end of year
(13,525)

Page 15

 
CONSTANT EQUITY ALPHA LIMITED AND ITS SUBSIDARY UNDERTAKINGS
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
 
12.Deferred taxation (continued)

Company


2024


£






Charged to profit or loss
(10,376)



At end of year
(10,376)

Group
Company
2024
2024
£
£

Fixed asset timing differences
(4,529)
(10,376)

Short term timing differences
563
-

Pension surplus
(9,559)
-

(13,525)
(10,376)


13.


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 £14,348 (2023 - £18,319). The amount owed at the end of the year was £3,108 (2023 - £nil).


14.


Related party transactions

At the year end there were balances owed to the Directors of £774,000 (2023 - £774,000). These loans are interest free and repayable on the 10 year anniversary.


15.


Controlling party

The Directors consider the ultimate controlling party to be P K Moxon.

 
Page 16