Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-312025-05-29149137false2023-11-09falseNo description of principal activity1falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 15272971 2023-11-08 15272971 2023-11-09 2024-12-31 15272971 2022-11-09 2023-11-08 15272971 2024-12-31 15272971 c:Director1 2023-11-09 2024-12-31 15272971 d:Buildings d:LongLeaseholdAssets 2023-11-09 2024-12-31 15272971 d:Buildings d:LongLeaseholdAssets 2024-12-31 15272971 d:PlantMachinery 2023-11-09 2024-12-31 15272971 d:PlantMachinery 2024-12-31 15272971 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-11-09 2024-12-31 15272971 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-11-09 2024-12-31 15272971 d:MotorVehicles 2023-11-09 2024-12-31 15272971 d:MotorVehicles 2024-12-31 15272971 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-11-09 2024-12-31 15272971 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-11-09 2024-12-31 15272971 d:FurnitureFittings 2023-11-09 2024-12-31 15272971 d:FurnitureFittings 2024-12-31 15272971 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-11-09 2024-12-31 15272971 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-11-09 2024-12-31 15272971 d:ComputerEquipment 2023-11-09 2024-12-31 15272971 d:ComputerEquipment 2024-12-31 15272971 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-11-09 2024-12-31 15272971 d:ComputerEquipment d:LeasedAssetsHeldAsLessee 2023-11-09 2024-12-31 15272971 d:OwnedOrFreeholdAssets 2023-11-09 2024-12-31 15272971 d:LeasedAssetsHeldAsLessee 2023-11-09 2024-12-31 15272971 d:Goodwill 2023-11-09 2024-12-31 15272971 d:Goodwill 2024-12-31 15272971 d:ComputerSoftware 2024-12-31 15272971 d:CurrentFinancialInstruments 2024-12-31 15272971 d:Non-currentFinancialInstruments 2024-12-31 15272971 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 15272971 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 15272971 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-12-31 15272971 d:ShareCapital 2024-12-31 15272971 d:RetainedEarningsAccumulatedLosses 2024-12-31 15272971 c:OrdinaryShareClass1 2023-11-09 2024-12-31 15272971 c:OrdinaryShareClass1 2024-12-31 15272971 c:FRS102 2023-11-09 2024-12-31 15272971 c:AuditExempt-NoAccountantsReport 2023-11-09 2024-12-31 15272971 c:FullAccounts 2023-11-09 2024-12-31 15272971 c:PrivateLimitedCompanyLtd 2023-11-09 2024-12-31 15272971 d:Goodwill d:ExternallyAcquiredIntangibleAssets 2023-11-09 2024-12-31 15272971 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2023-11-09 2024-12-31 15272971 2 2023-11-09 2024-12-31 15272971 d:ExternallyAcquiredIntangibleAssets 2023-11-09 2024-12-31 15272971 d:Goodwill d:OwnedIntangibleAssets 2023-11-09 2024-12-31 15272971 d:ComputerSoftware d:OwnedIntangibleAssets 2023-11-09 2024-12-31 15272971 e:PoundSterling 2023-11-09 2024-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 15272971









THRUXTON CIRCUIT LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2024

 
THRUXTON CIRCUIT LIMITED
REGISTERED NUMBER: 15272971

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
Note
£

Fixed assets
  

Intangible assets
 4 
354,493

Tangible assets
 5 
3,798,038

  
4,152,531

Current assets
  

Stocks
  
20,890

Debtors: amounts falling due within one year
 6 
403,146

Cash at bank and in hand
 7 
654,132

  
1,078,168

Creditors: amounts falling due within one year
 8 
(328,801)

Net current assets
  
 
 
749,367

Total assets less current liabilities
  
4,901,898

Creditors: amounts falling due after more than one year
 9 
(4,329,054)

  

Net assets
  
572,844


Capital and reserves
  

Called up share capital 
 11 
1

Profit and loss account
  
572,843

  
572,844


Page 1

 
THRUXTON CIRCUIT LIMITED
REGISTERED NUMBER: 15272971
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 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 Period 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 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: 




A Thistlethwayte
Director

Date: 29 May 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
THRUXTON CIRCUIT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

1.


General information

Thruxton Circuit Limited is a private company limited by shares and incorporated in England and Wales (registered number 15272971). The registered office address is Control Tower, Thruxton Airport, Andover, SP11 8PW.
The financial statements are presented in Sterling, which is the functional currency of the company.
The company was incorporated on 9 November 2023 and began trading on the same day.

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

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Page 3

 
THRUXTON CIRCUIT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.3

Interest income

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

 
2.4

Borrowing costs

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

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. 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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Comprehensive Income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.

 
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.

Page 4

 
THRUXTON CIRCUIT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Motor vehicles
-
25%
Fixtures and fittings
-
25%
Computer equipment
-
25%

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

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
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.


3.


Employees

The average monthly number of employees, including directors, during the Period was 1.

Page 5

 
THRUXTON CIRCUIT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

4.


Intangible assets



Computer software
Goodwill
Total

£
£
£



Cost


Additions
1
379,999
380,000



At 31 December 2024

1
379,999
380,000



Amortisation


Charge for the Period on owned assets
-
25,507
25,507



At 31 December 2024

-
25,507
25,507



Net book value



At 31 December 2024
1
354,492
354,493



Page 6

 
THRUXTON CIRCUIT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

5.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Computer equipment

£
£
£
£
£



Cost or valuation


Additions
3,794,415
33,436
121,731
10,227
318



At 31 December 2024

3,794,415
33,436
121,731
10,227
318



Depreciation


Charge for the Period on owned assets
-
5,061
7,297
546
48


Charge for the Period on financed assets
149,137
-
-
-
-



At 31 December 2024

149,137
5,061
7,297
546
48



Net book value



At 31 December 2024
3,645,278
28,375
114,434
9,681
270

Total

£



Cost or valuation


Additions
3,960,127



At 31 December 2024

3,960,127



Depreciation


Charge for the Period on owned assets
12,952


Charge for the Period on financed assets
149,137



At 31 December 2024

162,089



Net book value



At 31 December 2024
3,798,038

Page 7

 
THRUXTON CIRCUIT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

6.


Debtors

2024
£


Trade debtors
167,693

Other debtors
147,000

Prepayments and accrued income
88,453

403,146



7.


Cash and cash equivalents

2024
£

Cash at bank and in hand
654,132

654,132



8.


Creditors: Amounts falling due within one year

2024
£

Trade creditors
10,554

Other taxation and social security
117,244

Other creditors
6,669

Accruals and deferred income
194,334

328,801



9.


Creditors: Amounts falling due after more than one year

2024
£

Bank loans
4,329,054

4,329,054


Page 8

 
THRUXTON CIRCUIT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
£


Amounts falling due 1-2 years

Bank loans
4,329,055


4,329,055



4,329,055



11.


Share capital

2024
£
Allotted, called up and fully paid


1 Ordinary shares share of £1.00
1


On incorporation the company issued 1 ordinary share of £1.

 
Page 9