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Registered number: 11835374












REGENERATE ASSET MANAGEMENT LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED
 30 SEPTEMBER 2024





















 


img50db.png
01483 755 399
hamlyns.com

 
REGENERATE ASSET MANAGEMENT LIMITED
REGISTERED NUMBER: 11835374

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
41,150
37,179

Investments
 5 
50
50

  
41,200
37,229

Current assets
  

Debtors: amounts falling due within one year
 6 
486,291
121,902

Cash at bank and in hand
 7 
90,064
215,296

  
576,355
337,198

Creditors: amounts falling due within one year
 8 
(586,412)
(354,643)

Net current liabilities
  
 
 
(10,057)
 
 
(17,445)

Total assets less current liabilities
  
31,143
19,784

Provisions for liabilities
  

Deferred tax
 10 
(10,287)
-

  
 
 
(10,287)
 
 
-

Net assets
  
20,856
19,784


Capital and reserves
  

Called up share capital 
  
15,000
15,000

Profit and loss account
  
5,856
4,784

  
20,856
19,784


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 comprehensive income 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 9 May 2025.




___________________________
David Austin Allen Bates
Director

The notes on pages 2 to 9 form part of these financial statements.

Page 1

 
REGENERATE ASSET MANAGEMENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Regenerate Asset Management Limited is a private company, limited by shares, registered in England and
Wales. The company's registered number and registered office address are detailed below:
Registered number: 11835374
Registered office: 2nd Floor Marshalls Mill, Marshall Street, Leeds, England, LS11 9YJ

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

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 statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 2

 
REGENERATE ASSET MANAGEMENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
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.

 
2.4

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 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.

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.

Page 3

 
REGENERATE ASSET MANAGEMENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

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:

Plant and machinery
-
50%
Straight Line
Office equipment
-
33%
Straight Line
Computer 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

Valuation of investments

 
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

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.

 
2.9

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.

 
2.10

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 12 (2023 - 6).

Page 4

 
REGENERATE ASSET MANAGEMENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


Tangible fixed assets





Plant and machinery
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 October 2023
1,791
19,300
21,526
42,617


Additions
-
8,352
13,623
21,975



At 30 September 2024

1,791
27,652
35,149
64,592



Depreciation


At 1 October 2023
373
2,402
2,662
5,437


Charge for the year on owned assets
895
10,150
6,960
18,005



At 30 September 2024

1,268
12,552
9,622
23,442



Net book value



At 30 September 2024
523
15,100
25,527
41,150



At 30 September 2023
1,418
16,897
18,864
37,179


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 October 2023
50



At 30 September 2024
50





6.


Debtors

2024
2023
£
£


Trade debtors
255,948
-

Other debtors
115,923
25,964

Prepayments and accrued income
114,420
95,938

486,291
121,902

Page 5

 
REGENERATE ASSET MANAGEMENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6.Debtors (continued)



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
90,064
215,296

90,064
215,296



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
47,917
86,693

Amounts owed to group undertakings
-
22,610

Corporation tax
2,134
-

Other taxation and social security
32,654
19,607

Other creditors
71,580
68,868

Accruals and deferred income
432,127
156,865

586,412
354,643



9.


Creditors: Amounts falling due after more than one year





10.


Deferred taxation




2024


£






Charged to profit or loss
(10,287)



At end of year
(10,287)

Page 6

 
REGENERATE ASSET MANAGEMENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
 
10.Deferred taxation (continued)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Deferred Tax
(10,287)
-

(10,287)
-

Page 7
 


 
REGENERATE ASSET MANAGEMENT LIMITED


 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

11.


First time adoption of FRS 102

The Company transitioned to FRS 102 from previously extant UK GAAP as at 1 October 2022. The impact of the transition to FRS 102 is as follows:

As previously stated
1 October
2022
Effect of transition
1 October
2022
FRS 102
(as restated)
1 October
2022
As previously stated
30 September
2023
Effect of transition
30 September
2023
FRS 102
(as restated)
30 September
2023
Note
£
£
£
£
£
£

Fixed assets
  
-
50
50
-
37,229
37,229

Current assets
  
-
9,985
9,985
-
337,199
337,199

Creditors: amounts falling due within one year
  
-
(29,205)
(29,205)
-
(354,643)
(354,643)

Net current liabilities
  
 
-
 
(19,220)
 
(19,220)
 
-
 
(17,444)
 
(17,444)

Total assets less current liabilities
  
 
-
 
(19,170)
 
(19,170)
 
-
 
19,785
 
19,785

Net  (liabilities)/assets
  
 
-
 
(19,170)
 
(19,170)
 
-
 
19,785
 
19,785

Capital and reserves
  
-
(19,170)
(19,170)
-
19,785
19,785
Page 8
 
REGENERATE ASSET MANAGEMENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

           11.First time adoption of FRS 102 (continued)

As previously stated
30 September
2023
Effect of transition
30 September
2023
FRS 102
(as restated)
30 September
2023
Note
£
£
£

Turnover
  
-
908,683
908,683

  
 
-
 
908,683
 
908,683

Distribution expenses
  
-
(454,632)
(454,632)

Administrative expenses
  
-
(429,948)
(429,948)

Operating profit
  
 
-
 
24,103
 
24,103

Profit on ordinary activities after taxation and for the financial year
  
 
-
 
24,103
 
24,103

Explanation of changes to previously reported profit and equity:

1



12.
 

Provisions available for audits of small entities

In common with many other businesses of our size and nature, we use our auditor to prepare and submit
returns to the tax authorities and assist with the preparation of the financial statements.


13.


Auditors' information

The auditors' report on the financial statements for the year ended 30 September 2024 was unqualified.

The audit report was signed on 19 May 2025 by Oliver Spevack ACA FCCA (senior statutory auditor) on behalf of Hamlyns Limited.


Page 9