Caseware UK (AP4) 2024.0.164 2024.0.164 2024-08-312024-08-312025-05-28false2true2023-09-01falseNo description of principal activity1trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12417274 2023-09-01 2024-08-31 12417274 2022-09-01 2023-08-31 12417274 2024-08-31 12417274 2023-08-31 12417274 2022-09-01 12417274 c:Director1 2023-09-01 2024-08-31 12417274 d:FurnitureFittings 2023-09-01 2024-08-31 12417274 d:ComputerEquipment 2023-09-01 2024-08-31 12417274 d:ComputerEquipment 2024-08-31 12417274 d:ComputerEquipment 2023-08-31 12417274 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 12417274 d:CurrentFinancialInstruments 2024-08-31 12417274 d:CurrentFinancialInstruments 2023-08-31 12417274 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 12417274 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 12417274 d:ShareCapital 2024-08-31 12417274 d:ShareCapital 2023-08-31 12417274 d:ShareCapital 2022-09-01 12417274 d:RevaluationReserve 2023-09-01 2024-08-31 12417274 d:RevaluationReserve 2024-08-31 12417274 d:RevaluationReserve 2023-08-31 12417274 d:RetainedEarningsAccumulatedLosses 2023-09-01 2024-08-31 12417274 d:RetainedEarningsAccumulatedLosses 2024-08-31 12417274 d:RetainedEarningsAccumulatedLosses 2022-09-01 2023-08-31 12417274 d:RetainedEarningsAccumulatedLosses 2023-08-31 12417274 d:RetainedEarningsAccumulatedLosses 2022-09-01 12417274 d:AcceleratedTaxDepreciationDeferredTax 2024-08-31 12417274 d:AcceleratedTaxDepreciationDeferredTax 2023-08-31 12417274 c:OrdinaryShareClass1 2023-09-01 2024-08-31 12417274 c:OrdinaryShareClass1 2024-08-31 12417274 c:OrdinaryShareClass1 2023-08-31 12417274 c:FRS102 2023-09-01 2024-08-31 12417274 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 12417274 c:FullAccounts 2023-09-01 2024-08-31 12417274 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 12417274 d:WithinOneYear 2024-08-31 12417274 d:BetweenOneFiveYears 2024-08-31 12417274 6 2023-09-01 2024-08-31 12417274 e:PoundSterling 2023-09-01 2024-08-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12417274










HEARN CONSULTING LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2024

 
HEARN CONSULTING LIMITED
REGISTERED NUMBER: 12417274

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
13,105
6,124

  
13,105
6,124

Current assets
  

Debtors: amounts falling due within one year
 5 
311,819
800,059

Current asset investments
 6 
522,485
9,644

Cash at bank and in hand
  
8,045
99,959

  
842,349
909,662

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(84,304)
(189,628)

Net current assets
  
 
 
758,045
 
 
720,034

Total assets less current liabilities
  
771,150
726,158

Provisions for liabilities
  

Deferred tax
 8 
(3,276)
(2,389)

  
 
 
(3,276)
 
 
(2,389)

Net assets
  
767,874
723,769


Capital and reserves
  

Called up share capital 
 9 
1
1

Revaluation reserve net of deferred tax
  
31,904
-

Profit and loss account
  
735,969
723,768

  
767,874
723,769


Page 1

 
HEARN CONSULTING LIMITED
REGISTERED NUMBER: 12417274

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

The director considers 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 director acknowledges his 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 profit and loss account 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: 





S R Hearn
Director

Date: 28 May 2025

The notes on pages 4 to 9 form part of these financial statements.

Page 2

 
HEARN CONSULTING LIMITED
 

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


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

£
£
£
£

At 1 September 2023
1
-
723,768
723,769



Profit for the year
-
-
195,217
195,217

Surplus on revaluation of current asset investments
-
31,904
(31,904)
-

Dividends: Equity capital
-
-
(151,112)
(151,112)


At 31 August 2024
1
31,904
735,969
767,874


The notes on pages 4 to 9 form part of these financial statements.


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 September 2022
1
438,043
438,044



Profit for the year
-
465,725
465,725

Dividends: Equity capital
-
(180,000)
(180,000)


At 31 August 2023
1
723,768
723,769


Page 3

 
HEARN CONSULTING LIMITED
 

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

1.


General information

Hearn Consulting Limited is a private company limited by shares and incorporated in England and Wales with company number 12417274. The registered office is 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

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 for services during the year, excluding discounts, rebates, value added tax and other sales taxes.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Pensions

The Company pays into a defined contribution plan. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
HEARN CONSULTING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 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 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.


 
2.7

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:

Fixtures and fittings
-
3 years
Computer equipment
-
3 years

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.

 
2.8

Valuation of investments

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

Page 5

 
HEARN CONSULTING LIMITED
 

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

2.Accounting policies (continued)

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

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.

 
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 - 1).

Page 6

 
HEARN CONSULTING LIMITED
 

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

4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 September 2023
12,025


Additions
11,996



At 31 August 2024

24,021



Depreciation


At 1 September 2023
5,901


Charge for the year on owned assets
5,015



At 31 August 2024

10,916



Net book value



At 31 August 2024
13,105



At 31 August 2023
6,124


5.


Debtors

2024
2023
£
£


Trade debtors
31,281
41,743

Other debtors
236,258
683,575

Prepayments and accrued income
44,280
74,741

311,819
800,059



6.


Current asset investments

2024
2023
£
£

Listed investments
522,485
9,644

522,485
9,644


Page 7

 
HEARN CONSULTING LIMITED
 

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

7.


Creditors: amounts falling due within one year

2024
2023
£
£

Trade creditors
-
5,746

Corporation tax
50,386
128,709

Other taxation and social security
6,268
21,425

Other creditors
4,840
-

Accruals and deferred income
22,810
33,748

84,304
189,628



8.


Deferred taxation




2024


£






At beginning of year
(2,389)


Charged to profit or loss
(887)



At end of year
(3,276)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(3,276)
(2,389)

(3,276)
(2,389)


9.


Share capital

2024
2023
£
£
Authorised, allotted, called up and fully paid



1 (2023 - 1) Ordinary share of £1.00
1
1



10.


Pension commitments

The Company pays into a defined contribution plan. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £220,000 (2023: £37,400).
No contributions were outstanding in the current or prior year.

Page 8

 
HEARN CONSULTING LIMITED
 

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

11.


Commitments under operating leases

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

2024
£


Not later than 1 year
6,716

Later than 1 year and not later than 5 years
8,395

15,111


12.


Related party transactions

The company paid dividends of £151,112 (2023: £180,000) to S R Hearn, director, during the year.
During the year the company provided a loan to S R Hearn. The outstanding amounts were as follows:
Beginning of year:                                                  £680,973 (2023: £600)
End of year:                                                            £222,573 (2023: £680,973)
Maximum balance outstanding during the year:    £744,965 (2023: £680,973)
During the year interest of £4,511 was charged at 2.25% per annum (2023: £6,583). The loan has no set repayment date.
In the opinion of the directors, all the above transactions were carried out at a fair market value.


Page 9