Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-312023-08-01falseNo description of principal activity4744falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04182019 2023-08-01 2024-07-31 04182019 2024-07-31 04182019 2022-08-01 2023-07-31 04182019 2023-07-31 04182019 c:CompanySecretary1 2023-08-01 2024-07-31 04182019 c:Director1 2023-08-01 2024-07-31 04182019 c:Director2 2023-08-01 2024-07-31 04182019 c:Director3 2023-08-01 2024-07-31 04182019 c:Director3 2024-07-31 04182019 c:Director4 2023-08-01 2024-07-31 04182019 c:Director5 2023-08-01 2024-07-31 04182019 c:RegisteredOffice 2023-08-01 2024-07-31 04182019 c:Agent1 2023-08-01 2024-07-31 04182019 d:Buildings d:LongLeaseholdAssets 2023-08-01 2024-07-31 04182019 d:Buildings d:LongLeaseholdAssets 2024-07-31 04182019 d:Buildings d:LongLeaseholdAssets 2023-07-31 04182019 d:FurnitureFittings 2023-08-01 2024-07-31 04182019 d:FurnitureFittings 2024-07-31 04182019 d:FurnitureFittings 2023-07-31 04182019 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 04182019 d:ComputerEquipment 2023-08-01 2024-07-31 04182019 d:ComputerEquipment 2024-07-31 04182019 d:ComputerEquipment 2023-07-31 04182019 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 04182019 d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 04182019 d:CurrentFinancialInstruments 2024-07-31 04182019 d:CurrentFinancialInstruments 2023-07-31 04182019 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 04182019 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 04182019 d:ShareCapital 2024-07-31 04182019 d:ShareCapital 2023-07-31 04182019 d:RetainedEarningsAccumulatedLosses 2023-08-01 2024-07-31 04182019 d:RetainedEarningsAccumulatedLosses 2024-07-31 04182019 d:RetainedEarningsAccumulatedLosses 2023-07-31 04182019 c:FRS102 2023-08-01 2024-07-31 04182019 c:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 04182019 c:FullAccounts 2023-08-01 2024-07-31 04182019 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 04182019 d:WithinOneYear 2024-07-31 04182019 d:WithinOneYear 2023-07-31 04182019 d:BetweenOneFiveYears 2024-07-31 04182019 d:BetweenOneFiveYears 2023-07-31 04182019 d:MoreThanFiveYears 2024-07-31 04182019 d:MoreThanFiveYears 2023-07-31 iso4217:GBP xbrli:pure
Company registration number: 04182019







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JULY 2024


PI CONSULTING (UK) LIMITED






































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PI CONSULTING (UK) LIMITED
 


 
COMPANY INFORMATION


Directors
A J Burden 
A R Cooper 
J P Tyrrell (resigned 14 March 2024)
G R Ireland 
S G J Lavelle 




Company secretary
G Mitchell



Registered number
04182019



Registered office
2nd Floor, Tuition House
27-37 St George's Road

Wimbledon

London

SW19 4EU




Accountants
Menzies LLP
Chartered Accountants

Midas House

62 Goldsworth Road

Woking

Surrey

GU21 6LQ




Bankers
Lloyds Bank plc
95 George Street

Croyden

Surrey

CR9 2NS





 


PI CONSULTING (UK) LIMITED
 



CONTENTS



Page
Statement of Financial Position
1
Notes to the Financial Statements
2 - 7


 


PI CONSULTING (UK) LIMITED
REGISTERED NUMBER:04182019



STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
32,948
18,299

Current assets
  

Debtors: amounts falling due within one year
 5 
3,950,398
3,791,577

Bank and cash balances
  
343,370
328,898

  
4,293,768
4,120,475

Creditors: amounts falling due within one year
 6 
(697,692)
(882,507)

Net current assets
  
 
 
3,596,076
 
 
3,237,968

Total assets less current liabilities
  
3,629,024
3,256,267

  

Net assets
  
3,629,024
3,256,267


Capital and reserves
  

Called up share capital 
  
9,000
9,000

Profit and loss account
 7 
3,620,024
3,247,267

  
3,629,024
3,256,267


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 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: 


................................................
A J Burden
Director

Date: 11 April 2025

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

Page 1

 


PI CONSULTING (UK) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Pi Consulting (UK) Limited is a private company limited by shares incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office and principal place of business is given on the Company Information page.

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

Going concern

The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason the directors continue to adopt the going concern basis in preparing the annual financial statements.

 
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:

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

 


PI CONSULTING (UK) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.4

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 property
-
20%
per annum on cost
Fixtures and fittings
-
25%
per annum on cost
Computer equipment
-
33%
per annum on cost

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.

 
2.5

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.

  
2.6

Pension costs

The Company operates a defined contribution pension scheme and the pension charge represents the amount payable by the company to the fund in respect of the year.

  
2.7

Share-based payments

The Company issues equity-settled share-based payments to all employees (including directors). Equity-settled share-based payments are measured at the share price as calculated in accordance with the Articles of Association at the date of grant. The share price determined at the grant date of equity-settled share-based payments is expensed on a straight-line basis over the vesting period, together with a corresponding increase in equity, based upon the Company's estimate of the shares that will eventually vest.

 
2.8

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 reporting date in the countries where the Company operates and generates income.

Page 3

 


PI CONSULTING (UK) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 47 (2023 - 44).


4.


Tangible fixed assets





Leasehold property
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 August 2023
14,710
85,247
180,211
280,168


Additions
-
24,202
9,887
34,089



At 31 July 2024

14,710
109,449
190,098
314,257



Depreciation


At 1 August 2023
11,768
73,305
176,796
261,869


Charge for the year on owned assets
2,942
10,454
6,044
19,440



At 31 July 2024

14,710
83,759
182,840
281,309



Net book value



At 31 July 2024
-
25,690
7,258
32,948



At 31 July 2023
2,942
11,942
3,415
18,299


5.


Debtors

2024
2023
£
£


Trade debtors
246,164
422,942

Amounts owed by group undertakings
3,323,775
3,059,326

Other debtors
450
400

Prepayments and accrued income
380,009
308,909

3,950,398
3,791,577


Page 4

 


PI CONSULTING (UK) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
8,998
10,352

Corporation tax
99,087
73,745

Other taxation and social security
198,825
176,690

Other creditors
-
36,482

Accruals and deferred income
390,782
585,238

697,692
882,507



7.


Reserves

Profit and loss account

This reserve records retained earnings and accumulated losses. 

Page 5

 


PI CONSULTING (UK) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

8.


Share based payments

The Company has a share option scheme for all employees (including directors). The options are settled by the transfer of shares held in the parent company, Pi Partnership Limited by the Pi Partnership (EBT) Trust. Options are exercisable at a price equal to the average market price (including a 60% minority holding discount) of the shares in the parent company, Pi Partnership Limited on the date of the grant. No options were issued during the year ended 31 July 2024. During the previous year the options issued were exercisable between 19 December 2022 to 18 January 2023. 
If the options remained unexercised after the exercise period, the options expire. 

Options were forfeited if the employee left the company before the options were exercised. 

Details of the number of share options and the weighted average exercise price (WAEP) outstanding during the year are as follows:                                                                

Weighted average exercise price (pence)
2024
Number
2024
Weighted average exercise price
(pence)
2023
Number
2023

Granted during the year

N/A

-

682
 
5,000
 
Exercised during the year

N/A

-

682
 
(5,000)
 
Expired during the year

N/A

-

0
 
-
 

The share options issued during the previous year have been deemed to have an intrinsic value of nil on the basis that the options are exercisable at market value of the shares determined at the date of grant and the exercise period is only 1 month.
The Company recognised a total expenses of £nil (2023: £17,050) related to equity-settled share-based payment transactions during the year. 



9.


Commitments under operating leases

At 31 July 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
146,025
146,025

Later than 1 year and not later than 5 years
584,100
584,100

Later than 5 years
122,499
268,524

852,624
998,649

Page 6

 


PI CONSULTING (UK) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

10.


Related party transactions

The Company has taken advantage of the exemption available under FRS102 not to disclose transactions with the parent undertaking and those subsidiary undertakings where the group controls 100% of those companies voting rights. 


11.


Parent undertaking

The parent undertaking of the company is Pi Partnership Limited.
The registered office of Pi Partnership Limited is 2nd Floor, Tuition House, 27-37 St George's Road, Wimbledon, London, SW19 4EU.

 
Page 7