Caseware UK (AP4) 2024.0.164 2024.0.164 2024-03-312024-03-312025-05-1522023-04-01trueNo description of principal activityfalse2trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12118494 2023-04-01 2024-03-31 12118494 2022-08-01 2023-03-31 12118494 2024-03-31 12118494 2023-03-31 12118494 2022-08-01 12118494 c:Director1 2023-04-01 2024-03-31 12118494 d:CurrentFinancialInstruments 2024-03-31 12118494 d:CurrentFinancialInstruments 2023-03-31 12118494 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 12118494 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 12118494 d:ShareCapital 2024-03-31 12118494 d:ShareCapital 2023-03-31 12118494 d:ShareCapital 2022-08-01 12118494 d:SharePremium 2023-04-01 2024-03-31 12118494 d:SharePremium 2024-03-31 12118494 d:SharePremium 2022-08-01 2023-03-31 12118494 d:SharePremium 2023-03-31 12118494 d:SharePremium 2022-08-01 12118494 d:RevaluationReserve 2023-04-01 2024-03-31 12118494 d:RevaluationReserve 2024-03-31 12118494 d:RevaluationReserve 2022-08-01 2023-03-31 12118494 d:RevaluationReserve 2023-03-31 12118494 d:RevaluationReserve 2022-08-01 12118494 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 12118494 d:RetainedEarningsAccumulatedLosses 2024-03-31 12118494 d:RetainedEarningsAccumulatedLosses 2022-08-01 2023-03-31 12118494 d:RetainedEarningsAccumulatedLosses 2023-03-31 12118494 d:RetainedEarningsAccumulatedLosses 2022-08-01 12118494 d:TaxLossesCarry-forwardsDeferredTax 2024-03-31 12118494 d:TaxLossesCarry-forwardsDeferredTax 2023-03-31 12118494 d:OtherDeferredTax 2024-03-31 12118494 d:OtherDeferredTax 2023-03-31 12118494 c:OrdinaryShareClass1 2023-04-01 2024-03-31 12118494 c:OrdinaryShareClass1 2024-03-31 12118494 c:OrdinaryShareClass1 2023-03-31 12118494 c:OrdinaryShareClass2 2023-04-01 2024-03-31 12118494 c:OrdinaryShareClass2 2024-03-31 12118494 c:OrdinaryShareClass2 2023-03-31 12118494 c:FRS102 2023-04-01 2024-03-31 12118494 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 12118494 c:FullAccounts 2023-04-01 2024-03-31 12118494 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12118494 2 2023-04-01 2024-03-31 12118494 6 2023-04-01 2024-03-31 12118494 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 12118494










PROSPECT4 LIMITED





UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
PROSPECT4 LIMITED
REGISTERED NUMBER: 12118494

BALANCE SHEET
AS AT 31 MARCH 2024

As restated
2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
6,834,506
6,215,464

  
6,834,506
6,215,464

Current assets
  

Debtors: amounts falling due within one year
 5 
289,460
271,184

Cash at bank and in hand
 6 
89,393
2,383,873

  
378,853
2,655,057

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(2,698,934)
(4,656,516)

Net current liabilities
  
 
 
(2,320,081)
 
 
(2,001,459)

Total assets less current liabilities
  
4,514,425
4,214,005

Deferred tax
 8 
(194,378)
(81,493)

  
 
 
(194,378)
 
 
(81,493)

Net assets
  
4,320,047
4,132,512


Capital and reserves
  

Called up share capital 
 9 
1,000
1,000

Share premium account
  
3,999,200
3,999,200

Revaluation reserve
  
424,767
301,190

Profit and loss account
  
(104,920)
(168,878)

  
4,320,047
4,132,512


Page 1

 
PROSPECT4 LIMITED
REGISTERED NUMBER: 12118494

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

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 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 by: 






P D Evans
Director

Date: 15 May 2025

The notes on pages 4 to 8 form part of these financial statements.

Page 2

 
PROSPECT4 LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


Called up share capital
Share premium account
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£
£


At 31 July 2022
1,000
3,999,200
369,336
(58,835)
4,310,701



Loss for the period
-
-
-
(178,189)
(178,189)

Transfer to/from profit and loss account
-
-
(68,146)
68,146
-



At 1 April 2023
1,000
3,999,200
301,190
(168,878)
4,132,512



Profit for the year
-
-
-
187,535
187,535

Transfer to/from profit and loss account
-
-
123,577
(123,577)
-


At 31 March 2024
1,000
3,999,200
424,767
(104,920)
4,320,047


The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
PROSPECT4 LIMITED
 

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

1.


General information

Prospect4 Limited is a private company, limited by share capital and incorporated in England and Wales.
The company's registered office address is 8th Floor, Reading Bridge House, George Street, Reading, Berkshire, RG1 8LS.

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.

 
2.3

Interest income

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

 
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

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
PROSPECT4 LIMITED
 

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

2.Accounting policies (continued)

 
2.6

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.


 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
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.

Page 5

 
PROSPECT4 LIMITED
 

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

2.Accounting policies (continued)

 
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.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Fixed asset investments





Investments in subsidiary companies
Listed investments
Total

£
£
£



Cost or valuation


At 1 April 2023
2,238,138
3,977,326
6,215,464


Additions
-
1,659,901
1,659,901


Disposals
-
(1,420,998)
(1,420,998)


Revaluations
-
380,139
380,139



At 31 March 2024
2,238,138
4,596,368
6,834,506




Page 6

 
PROSPECT4 LIMITED
 

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

5.


Debtors

As restated
2024
2023
£
£

Amounts owed by group undertakings
79,478
59,478

Other debtors
209,982
209,982

Prepayments and accrued income
-
1,724

289,460
271,184



6.


Cash and cash equivalents

As restated
2024
2023
£
£

Cash at bank and in hand
89,393
2,383,873

Less: bank overdrafts
(46,681)
(2,054,182)

42,712
329,691



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
46,681
2,054,182

Corporation tax
1,997
1,997

Other creditors
2,629,899
2,579,899

Accruals and deferred income
20,357
20,438

2,698,934
4,656,516


Page 7

 
PROSPECT4 LIMITED
 

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

8.


Deferred taxation




2024
2023


£

£






At beginning of year
(81,493)
(88,720)


Charged to profit or loss
(112,885)
7,227



At end of year
(194,378)
(81,493)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Tax losses carried forward
37,733
15,274

Capital gains
(232,111)
(96,767)

(194,378)
(81,493)


9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



200 (2023 - 200) A Ordinary shares of £1 each
200
200
800 (2023 - 800) B Ordinary shares of £1 each
800
800

1,000

1,000



10.


Prior year adjustment

An adjustment has been made to re-post a balance from cash and cash equivalents to amounts owed by group undertakings - in respect of a subsidiary bank account. The effect was to reduce cash and increased amounts owed by group undertakings by £2,862; there was no impact on the profit and loss account reserve.


11.


Related party transactions

At the year end the company owed it's directors £2,629,899 (2023: £2,579,899). This loan is interest free and repayable upon demand.


12.


Controlling party

The directors do not consider there to be an ultimate controlling party.


Page 8