Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-312025-05-122025-05-12false2024-01-0161No description of principal activity64falsetruefalse SC101979 2024-01-01 2024-12-31 SC101979 2023-01-01 2023-12-31 SC101979 2024-12-31 SC101979 2023-12-31 SC101979 c:CompanySecretary1 2024-01-01 2024-12-31 SC101979 c:Director1 2024-01-01 2024-12-31 SC101979 c:Director2 2024-01-01 2024-12-31 SC101979 c:Director2 2024-12-31 SC101979 c:Director3 2024-01-01 2024-12-31 SC101979 c:Director3 2024-12-31 SC101979 c:Director4 2024-01-01 2024-12-31 SC101979 c:Director4 2024-12-31 SC101979 c:RegisteredOffice 2024-01-01 2024-12-31 SC101979 d:Buildings 2024-01-01 2024-12-31 SC101979 d:Buildings 2024-12-31 SC101979 d:Buildings 2023-12-31 SC101979 d:Buildings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC101979 d:PlantMachinery 2024-01-01 2024-12-31 SC101979 d:PlantMachinery 2024-12-31 SC101979 d:PlantMachinery 2023-12-31 SC101979 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC101979 d:FurnitureFittings 2024-01-01 2024-12-31 SC101979 d:FurnitureFittings 2024-12-31 SC101979 d:FurnitureFittings 2023-12-31 SC101979 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC101979 d:OfficeEquipment 2024-01-01 2024-12-31 SC101979 d:OfficeEquipment 2024-12-31 SC101979 d:OfficeEquipment 2023-12-31 SC101979 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC101979 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC101979 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 SC101979 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-12-31 SC101979 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 SC101979 d:ComputerSoftware 2024-12-31 SC101979 d:ComputerSoftware 2023-12-31 SC101979 d:OtherResidualIntangibleAssets 2024-01-01 2024-12-31 SC101979 d:CurrentFinancialInstruments 2024-12-31 SC101979 d:CurrentFinancialInstruments 2023-12-31 SC101979 d:Non-currentFinancialInstruments 2024-12-31 SC101979 d:Non-currentFinancialInstruments 2023-12-31 SC101979 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 SC101979 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 SC101979 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 SC101979 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 SC101979 d:ShareCapital 2024-12-31 SC101979 d:ShareCapital 2023-12-31 SC101979 d:SharePremium 2024-12-31 SC101979 d:SharePremium 2023-12-31 SC101979 d:CapitalRedemptionReserve 2024-12-31 SC101979 d:CapitalRedemptionReserve 2023-12-31 SC101979 d:InvestmentPropertiesRevaluationReserve 2024-12-31 SC101979 d:InvestmentPropertiesRevaluationReserve 2023-12-31 SC101979 d:OtherMiscellaneousReserve 2024-12-31 SC101979 d:OtherMiscellaneousReserve 2023-12-31 SC101979 d:RetainedEarningsAccumulatedLosses 2024-12-31 SC101979 d:RetainedEarningsAccumulatedLosses 2023-12-31 SC101979 c:OrdinaryShareClass1 2024-01-01 2024-12-31 SC101979 c:OrdinaryShareClass1 2024-12-31 SC101979 c:OrdinaryShareClass1 2023-12-31 SC101979 c:FRS102 2024-01-01 2024-12-31 SC101979 c:Audited 2024-01-01 2024-12-31 SC101979 c:FullAccounts 2024-01-01 2024-12-31 SC101979 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 SC101979 d:WithinOneYear 2024-12-31 SC101979 d:WithinOneYear 2023-12-31 SC101979 d:BetweenOneFiveYears 2024-12-31 SC101979 d:BetweenOneFiveYears 2023-12-31 SC101979 c:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 SC101979 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:InternallyGeneratedIntangibleAssets 2024-01-01 2024-12-31 SC101979 d:ComputerSoftware d:InternallyGeneratedIntangibleAssets 2024-01-01 2024-12-31 SC101979 d:InternallyGeneratedIntangibleAssets 2024-01-01 2024-12-31 SC101979 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2024-01-01 2024-12-31 SC101979 d:ComputerSoftware d:OwnedIntangibleAssets 2024-01-01 2024-12-31 SC101979 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: SC101979










REEL SERVICE LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

 
REEL SERVICE LIMITED
 

COMPANY INFORMATION


Directors
Mr G B Smith 
Ms A K W NG (resigned 28 March 2024)
Mr C Man Sui (resigned 19 February 2024)
Mr Y N NG (appointed 19 February 2024)




Company secretary
Mr G B Smith



Registered number
SC101979



Registered office
55 Nasmyth Road
Southfield Industrial Estate

Glenrothes

Fife

KY6 2SD




Independent auditors
Sumer Auditco Limited
Chartered Accountants & Statutory Auditors

Pentland House

Saltire Centre

Glenrothes

KY6 2AH





 
REEL SERVICE LIMITED
REGISTERED NUMBER: SC101979

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
£
£

Fixed assets
  

Intangible assets
 4 
100,054
100,276

Tangible assets
 5 
937,917
1,114,411

  
1,037,971
1,214,687

Current assets
  

Stocks
  
563,251
669,262

Debtors: amounts falling due within one year
 6 
647,485
685,875

Cash at bank and in hand
  
533,667
693,895

  
1,744,403
2,049,032

Creditors: amounts falling due within one year
 7 
(305,927)
(668,624)

Net current assets
  
 
 
1,438,476
 
 
1,380,408

Total assets less current liabilities
  
2,476,447
2,595,095

Creditors: amounts falling due after more than one year
 8 
(38,317)
(73,693)

Provisions for liabilities
  

Deferred tax
  
(140,459)
(171,499)

  
 
 
(140,459)
 
 
(171,499)

Net assets
  
2,297,671
2,349,903


Capital and reserves
  

Called up share capital 
 9 
29,412
29,412

Share premium account
  
64,413
64,413

Capital redemption reserve
  
114,705
114,705

Revaluation reserve
  
170,635
175,809

Other reserves
  
122,449
122,449

Profit and loss account
  
1,796,057
1,843,115

  
2,297,671
2,349,903


Page 1

 
REEL SERVICE LIMITED
REGISTERED NUMBER: SC101979

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024

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 income statement 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: 




Mr G B Smith
Director

Date: 12 May 2025

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
REEL SERVICE LIMITED
 

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

1.


General information

Reel Service Limited is a private company limited by shares incorporated in Scotland with registration number SC101979. The registered office is situated in 55 Nasmyth Road, Southfield Industrial Estate, Glenrothes, Fife KY6 2SD.
The financial statements are prepared in sterling which is the functional currency of the company and rounded to the nearest £.

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

Going concern

The directors, having made due and careful enquiry, are of the opinion that the Company has adequate working capital to execute their operations over the next 12 months. The directors, therefore, have made an informed judgement, at the time of approving the financial statements, that there is a reasonable expectation that the Company has adequate resources to continue in the operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

 
2.3

Tangible fixed assets

Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes the cost of replacing part of the tangible assets if the recognition criteria are met and costs of dismantling and removing the asset. When significant parts of tangible assets are required to be replaced at intervals, the company depreciates them separately based on their specific useful lives. Likewise, when a major inspection is performed, its cost is recognised in the carrying amount of the tangible assets as a replacement if the recognition criteria are satisfied. All other repair and maintenance costs are recognised in profit or loss as incurred.
An amount equal to the excess of the annual depreciation charge on revalued assets over the notional historic cost depreciation charge on these assets is transferred annually from the revaluation reserve to the profit and loss reserve.

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.

The estimated useful lives range as follows:

Freehold property
-
50
years
Plant and machinery
-
5
years
Fixtures and fittings
-
10
years
Office equipment
-
5
years

The carrying values of tangible fixed assets are reviewed for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.



Page 3

 
REEL SERVICE LIMITED
 

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

2.Accounting policies (continued)

 
2.4

Intangible assets

Intangible assets acquired separately from a business are capitalised at cost. Subsequent to initial recognition, intangible assets are stated at cost less accumulated amortisation and accumulated impairment. Intangible assets are amortised on a straight-line basis over their estimated useful lives. The carrying value of intangible assets is reviewed for impairment if events or changes in circumstances indicate the carrying value may not be recoverable.

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.

 The estimated useful lives range as follows:

Website development costs
-
10
years
Computer software
-
5
years

If there are indicators that the residual value or useful life of an intangible asset has changed since the most recent annual reporting period previous estimates shall be reviewed and, if current expectations differ the residual value, amortisation method or useful life shall be amended. Changes in the expected useful life or the expected pattern of consumption of benefit shall be accounted for as a change in accounting estimate.

 
2.5

Turnover

Turnover is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales taxes or duty.
Sale of goods
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually on dispatch of the goods.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value using the first-in, first-out method of valuation. Cost includes all costs incurred in bringing each product to its present location and condition, as follows:
Raw materials, consumables and goods for resale — purchase cost on a first-in, first-out
Work in progress and finished goods — cost of direct materials and labour plus attributable overheads based on a normal level of activity.
Net realisable value is based on estimated selling price less any further costs expected to be incurred to completion and disposal. Provision is made where necessary for obsolete, slow moving and defective stocks.



Page 4

 
REEL SERVICE LIMITED
 

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

2.Accounting policies (continued)

 
2.7

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 Statement of financial position 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.

 
2.8

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.

 
2.9

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 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting 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 reporting date.


Page 5

 
REEL SERVICE LIMITED
 

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

2.Accounting policies (continued)

 
2.10

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Transactions in foreign currencies are initially recorded in the entity's functional currency by applying the spot exchange rate ruling at the date of the transaction.

Monetary assets and liabilities denominated in foreign currencies are retranslated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.

 
2.11

Company as a lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. All other leases are classified as operating leases.

Operating lease payments, other than contingent rentals, are recognised as an expense in the profit and loss account on a straight-line basis over the lease term, including the effect of lease incentives.

  
2.12

Lease commitments

The determination of whether an arrangement is (or contains) a lease is based on the substance of the arrangement at the inception of the lease. The arrangement is, or contains, a lease of fulfilment of the arrangement is dependent on the use of a specific asset or assets and the arrangement conveys a right to use the asset or assets, even if that right is not explicitly specified in an arrangement. 

  
2.13

Pensions

The company operates a defined contribution pension scheme. The company recognised the contribution payable for a period.

As a liability, after deducting any amount already paid. If contribution payments exceed the contribution due for service before the reporting date, an entity shall recognise that excess as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

As an expense, unless requires the cost to be recognised as part of the cost of an asset such as stocks or tangible assets.


3.


Employees

The average monthly number of employees, including directors, during the year was 61 (2023 - 64).

Page 6

 
REEL SERVICE LIMITED
 

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

4.


Intangible assets




Website development costs
Computer software
Total

£
£
£



Cost


At 1 January 2024
10,236
119,968
130,204


Additions
-
9,750
9,750



At 31 December 2024

10,236
129,718
139,954



Amortisation


At 1 January 2024
10,236
19,692
29,928


Charge for the year
-
9,972
9,972



At 31 December 2024

10,236
29,664
39,900



Net book value



At 31 December 2024
-
100,054
100,054



At 31 December 2023
-
100,276
100,276



Page 7

 
REEL SERVICE LIMITED
 

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

5.


Tangible fixed assets





Freehold property
Plant and machinery
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2024
960,711
3,285,979
409,357
138,987
4,795,034


Additions
-
3,119
-
3,147
6,266


Disposals
-
(54,160)
-
-
(54,160)



At 31 December 2024

960,711
3,234,938
409,357
142,134
4,747,140



Depreciation


At 1 January 2024
241,837
2,984,075
321,112
133,599
3,680,623


Charge for the year
27,676
99,834
15,133
2,237
144,880


Disposals
-
(16,280)
-
-
(16,280)



At 31 December 2024

269,513
3,067,629
336,245
135,836
3,809,223



Net book value



At 31 December 2024
691,198
167,309
73,112
6,298
937,917



At 31 December 2023
718,874
301,904
88,245
5,388
1,114,411

Page 8

 
REEL SERVICE LIMITED
 

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

6.


Debtors

2024
2023
£
£


Trade debtors
582,794
581,471

Other debtors
11,213
58,389

Prepayments and accrued income
53,478
46,015

647,485
685,875



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
42,904
306,346

Amounts owed to group undertakings
23,740
49,787

Other taxation and social security
42,617
48,020

Obligations under finance lease and hire purchase contracts
35,376
45,932

Other creditors
93,348
50,018

Accruals and deferred income
67,942
168,521

305,927
668,624


Net obligations under finance lease and hire purchase contracts are secured by the relevant assets.


8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
38,317
73,693


Net obligations under finance lease and hire purchase contracts are secured by the relevant assets.


9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



29,412 (2023 - 29,412) Ordinary shares of £1.00 each
29,412
29,412


Page 9

 
REEL SERVICE LIMITED
 

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

10.


Capital commitments


At 31 December 2024 the Company had capital commitments as follows:

2024
2023
£
£


Contracted for but not provided in these financial statements
18,661
-


11.


Commitments under operating leases

At 31 December 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
35,933
24,413

Later than 1 year and not later than 5 years
69,308
50,520

105,241
74,933


12.


Related party transactions

During the year the company entered into transactions with related parties, in the ordinary course of business. The management shall operate the exemption available under s33.1A of FRS 102 not to disclose the transactions entered into as the related parties are 100% owned by ASTI Holdings Limited


13.


Controlling party

The company's parent undertaking is ASTI Holdings Limited ("ASTI") incorporated in Singapore. In the director's opinion, the company's ultimate parent undertaking and controlling party is ASTI Holdings Limited.
A copy of the group financial statements of ASTI Holdings Limited can be obtained from its registered office located at 50 Raffles Place, Singapore Land Tower, #31-01, Singapore 048623


14.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 12 May 2025 by Greg Stapley (Senior statutory auditor) on behalf of Sumer Auditco Limited.


Page 10