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Registered number: 15343853














BUCKLEYS INTERNATIONAL LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE PERIOD ENDED 31 OCTOBER 2024

 
BUCKLEYS INTERNATIONAL LIMITED
REGISTERED NUMBER: 15343853

BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
Note

Fixed assets
  

Investments
 5 
2,418,908

  
2,418,908

Current assets
  

Debtors: amounts falling due within one year
 6 
68,986

  
68,986

Creditors: amounts falling due within one year
 7 
(2,223,168)

Net current (liabilities)/assets
  
 
 
(2,154,182)

Total assets less current liabilities
  
264,726

  

Net assets
  
£264,726


Capital and reserves
  

Called up share capital 
  
100,000

Profit and loss account
  
164,726

  
£264,726


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 25 March 2025.




___________________________
Mr S B Dobson
Director

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 
BUCKLEYS INTERNATIONAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024

1.


General information

The company is a private limited company incorporated in England and Wales. The registered office of the company is The Estate Office Rotherfield Park, East Tisted, Alton, Hampshire, England, GU34 3QN.

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

Exemption from preparing consolidated financial statements

The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of any part of the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.

 
2.3

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 2

 
BUCKLEYS INTERNATIONAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
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.

 
2.5

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.7

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.

 
2.8

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.

 
2.9

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.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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
Page 3

 
BUCKLEYS INTERNATIONAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024

2.Accounting policies (continued)


2.9
Financial instruments (continued)

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 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.

Derecognition of financial instruments

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
Page 4

 
BUCKLEYS INTERNATIONAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024

2.Accounting policies (continued)


2.9
Financial instruments (continued)

discharged or cancelled.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Investment in subsidiary
During the financial period under review there were dividends received amounting to £1,579,814. Of these dividends £1,280,666 were recognised as a return of investment, as the subsidiary's initial net assets were diminshed as a result of this dividend, reducing the value of the invesment in the subsidiary. 


4.


Employees



The average monthly number of employees, including directors, during the period was 4.


5.


Fixed asset investments





Investments in subsidiary companies



Cost or valuation


Additions
3,699,574


Amounts written off
(1,280,666)



At 31 October 2024
£2,418,908





6.


Debtors

2024


Amounts owed by group undertakings
20,807

Other debtors
48,179

£68,986


Page 5

 
BUCKLEYS INTERNATIONAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024

7.


Creditors: Amounts falling due within one year

2024

Trade creditors
6,000

Amounts owed to group undertakings
1,572,231

Other taxation and social security
947

Other creditors
638,995

Accruals and deferred income
4,995

£2,223,168


Included within amounts due to group undertakings due within one year is a loan of £1,572,231 from Noar, Limited. Interest at a rate of 10% amounting to £108,489 was paid to Noar, Limited in the period.
Included within other creditors due within one year are the following loans;
Loans from directors and close family members of directors amounting to £490,483. Interest at a rate of 8% amounting to £34,463 was paid by the company in the period.
Loans from directors amounting to £50,340. Interest at a rate of 10% amounting to £3,479 was paid by the company in the period.
Loans from key management personnel amounting to £50,340. Interest at a rate of 10% amounting to £3,479 was paid by the company in the period.


8.


Related party transactions

During the period the company paid management charges amounting to £3,533 to Buckleys (UVRAL) Limited in respect of payroll costs recharged. During the period the company received management fees amounting to £60,000 in respect to management services provided to Buckleys (UVRAL) Limited.
At the balance sheet date, Buckleys (UVRAL) Limited owed the company £20,807 in respect of monies advanced.
The company paid management charges amounting to £10,000 to Noar, Limited in the period.

Page 6

 
BUCKLEYS INTERNATIONAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024

9.

Ultimate parent undertaking and controlling party

At the balance sheet date, the immediate parent undertaking is Noar, Limited, a company incorporated in England and Wales. 
Noar, Limited is the controlling party of the company.
The parent undertaking of the smallest group to consolidate their financial statements is Noar, Limited, a company incorporated in England and Wales. The registered office of the company is Estate Office Rotherfield Park Estate, East Tisted, Alton, GU34 3QN.
The parent undertaking of the largest group to consolidate these financial statements is Noar, Limited, a company incorporated in England and Wales. The registered address of the company is  Estate Office Rotherfield Park Estate, East Tisted, Alton, GU34 3QN.
The ultimate parent undertaking is Noar, Limited, a company incorporated in England and Wales.
Noar, Limited is also the most senior parent entity producing publicly available financial statements.
Noar, Limited is the ultimate controlling party of the company. The controlling party of the parent undertaking is Noar, Limited.



10.


Auditors' information

The auditors' report on the financial statements for the period ended 31 October 2024 was unqualified.

The audit report was signed on 28 March 2025 by Joshua Conlon FCCA (Senior statutory auditor) on behalf of Magee Gammon Corporate Limited.


Page 7