Caseware UK (AP4) 2023.0.135 2023.0.135 2025-05-13true22024-04-01falseNo description of principal activity2trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03624116 2024-04-01 2025-03-31 03624116 2023-04-01 2024-03-31 03624116 2025-03-31 03624116 2024-03-31 03624116 c:CompanySecretary1 2024-04-01 2025-03-31 03624116 c:Director1 2024-04-01 2025-03-31 03624116 c:Director2 2024-04-01 2025-03-31 03624116 c:RegisteredOffice 2024-04-01 2025-03-31 03624116 d:OfficeEquipment 2024-04-01 2025-03-31 03624116 d:OfficeEquipment 2025-03-31 03624116 d:OfficeEquipment 2024-03-31 03624116 d:CurrentFinancialInstruments d:WithinOneYear 2025-03-31 03624116 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 03624116 d:ShareCapital 2025-03-31 03624116 d:ShareCapital 2024-03-31 03624116 d:RetainedEarningsAccumulatedLosses 2025-03-31 03624116 d:RetainedEarningsAccumulatedLosses 2024-03-31 03624116 c:OrdinaryShareClass1 2024-04-01 2025-03-31 03624116 c:OrdinaryShareClass1 2025-03-31 03624116 c:OrdinaryShareClass1 2024-03-31 03624116 c:OrdinaryShareClass2 2024-04-01 2025-03-31 03624116 c:OrdinaryShareClass2 2025-03-31 03624116 c:OrdinaryShareClass2 2024-03-31 03624116 c:FRS102 2024-04-01 2025-03-31 03624116 c:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 03624116 c:AbridgedAccounts 2024-04-01 2025-03-31 03624116 c:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 03624116 d:OtherDeferredTax 2025-03-31 03624116 d:OtherDeferredTax 2024-03-31 03624116 2 2024-04-01 2025-03-31 03624116 6 2024-04-01 2025-03-31 03624116 e:PoundSterling 2024-04-01 2025-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 03624116










JOE SIMPSON LIMITED

Unaudited
Financial statements
Information for filing with the registrar
For the Year Ended 31 March 2025

 
JOE SIMPSON LIMITED
 

Company Information


Directors
J B Simpson 
C Simpson 




Company secretary
C Simpson



Registered number
03624116



Registered office
70 Clarkehouse Road

Sheffield

South Yorkshire

S10 2LJ





 
JOE SIMPSON LIMITED
Registered number: 03624116

Balance sheet
As at 31 March 2025

2025
2024
Note
£
£

Fixed assets
  

Investments
  
1,390,000
1,280,000

  
1,390,000
1,280,000

Current assets
  

Debtors
  
64,239
48,881

Cash at bank and in hand
  
306,319
320,765

  
370,558
369,646

Creditors: amounts falling due within one year
  
(16,635)
(20,950)

Net current assets
  
 
 
353,923
 
 
348,696

Total assets less current liabilities
  
1,743,923
1,628,696

Provisions for liabilities
  
(84,361)
(56,861)

Net assets
  
1,659,562
1,571,835


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
 9 
1,659,462
1,571,735

  
1,659,562
1,571,835


Page 1

 
JOE SIMPSON LIMITED
Registered number: 03624116

Balance sheet (continued)
As at 31 March 2025

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 on 13 May 2025.




J B Simpson
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
JOE SIMPSON LIMITED
 

 
Notes to the financial statements
For the Year Ended 31 March 2025

1.


General information

Joe Simpson Limited is a company limited by shares incorporated in England within the United Kingdom. The address of the registered office is given in the company information on page 1 of these financial statements.
The financial statements are presented in sterling which is the functional currency of the company.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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 members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

 
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:
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.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
JOE SIMPSON LIMITED
 

 
Notes to the financial statements
For the Year Ended 31 March 2025

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of income and retained earnings, 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.
     - Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures
       and the Company 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.

 
2.5

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, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
25%
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.

 
2.6

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

Valuation of investments

Page 4

 
JOE SIMPSON LIMITED
 

 
Notes to the financial statements
For the Year Ended 31 March 2025

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

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.

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 equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

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.

Page 5

 
JOE SIMPSON LIMITED
 

 
Notes to the financial statements
For the Year Ended 31 March 2025

2.Accounting policies (continued)


2.12
Financial instruments (continued)

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.

 
2.13

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 2 (2023 -2).


4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 April 2024
2,125



At 31 March 2025

2,125



Depreciation


At 1 April 2024
2,125



At 31 March 2025

2,125



Net book value



At 31 March 2025
-



At 31 March 2024
-

Page 6

 
JOE SIMPSON LIMITED
 

 
Notes to the financial statements
For the Year Ended 31 March 2025

5.


Fixed asset investments





Investment properties

£



Cost or valuation


At 1 April 2024
1,280,000


Revaluations
110,000



At 31 March 2025
1,390,000





6.


Cash and cash equivalents

2025
2024
£
£

Cash at bank and in hand
306,319
320,765

306,319
320,765



7.


Deferred taxation




2025


£






At 1 April 2024
56,861


Charged to profit or loss
27,500



At 31 March 2025
84,361

The provision for deferred taxation is made up as follows:

2025
2024
£
£


On unrealised gains
84,361
56,861

84,361
56,861


8.


Share capital

2025
2024
£
£
Allotted, called up and fully paid



80 (2024 -80) Ordinary "A" shares of £1 each
80
80
Page 7

 
JOE SIMPSON LIMITED
 

 
Notes to the financial statements
For the Year Ended 31 March 2025

8.Share capital (continued)

20 (2024 -20) Ordinary "B" shares of £1 each
20
20

100

100



9.


Reserves

Profit and loss account
The balance on the profit and loss account includes an amount of £569,041 (2024: £486,541) which is currently undistributable.


10.


Related party transactions

The company operates a directors current account with the directors. The year end balance owed by the
 Directors was £19,471. The amount owed to the directors at the end of the previous year was £377.


Page 8