Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2024-01-01No description of principal activityfalsefalse57falsetrue 10535616 2024-01-01 2024-12-31 10535616 2023-01-01 2023-12-31 10535616 2024-12-31 10535616 2023-12-31 10535616 c:Director1 2024-01-01 2024-12-31 10535616 d:PlantMachinery 2024-01-01 2024-12-31 10535616 d:PlantMachinery 2024-12-31 10535616 d:PlantMachinery 2023-12-31 10535616 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 10535616 d:OfficeEquipment 2024-01-01 2024-12-31 10535616 d:OfficeEquipment 2024-12-31 10535616 d:OfficeEquipment 2023-12-31 10535616 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 10535616 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 10535616 d:CurrentFinancialInstruments 2024-12-31 10535616 d:CurrentFinancialInstruments 2023-12-31 10535616 d:Non-currentFinancialInstruments 2024-12-31 10535616 d:Non-currentFinancialInstruments 2023-12-31 10535616 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 10535616 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 10535616 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 10535616 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 10535616 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-12-31 10535616 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 10535616 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-12-31 10535616 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 10535616 d:ShareCapital 2024-12-31 10535616 d:ShareCapital 2023-12-31 10535616 d:SharePremium 2024-12-31 10535616 d:SharePremium 2023-12-31 10535616 d:RetainedEarningsAccumulatedLosses 2024-12-31 10535616 d:RetainedEarningsAccumulatedLosses 2023-12-31 10535616 c:FRS102 2024-01-01 2024-12-31 10535616 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 10535616 c:FullAccounts 2024-01-01 2024-12-31 10535616 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 10535616 6 2024-01-01 2024-12-31 10535616 d:AcceleratedTaxDepreciationDeferredTax 2024-12-31 10535616 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 10535616 d:TaxLossesCarry-forwardsDeferredTax 2024-12-31 10535616 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 10535616 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure
Registered number: 10535616









FINELIGHT GROUP LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
FINELIGHT GROUP LIMITED
REGISTERED NUMBER: 10535616

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
12,884
23,527

Investments
 6 
4,030,408
468,587

  
4,043,292
492,114

Current assets
  

Debtors: amounts falling due within one year
 7 
149,597
588,553

Cash at bank and in hand
  
655,572
250,352

  
805,169
838,905

Creditors: amounts falling due within one year
 8 
(1,588,451)
(89,510)

Net current (liabilities)/assets
  
 
 
(783,282)
 
 
749,395

Total assets less current liabilities
  
3,260,010
1,241,509

Creditors: amounts falling due after more than one year
 9 
(2,436,994)
-

  

Net assets
  
823,016
1,241,509


Capital and reserves
  

Called up share capital 
  
1
1

Share premium account
  
1,787
1,787

Profit and loss account
  
821,228
1,239,721

  
823,016
1,241,509


Page 1

 
FINELIGHT GROUP LIMITED
REGISTERED NUMBER: 10535616

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 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 on 4 June 2025.




................................................
A J Schofield
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
FINELIGHT GROUP LIMITED
 

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

1.


General information

Finelight Group Limited is a private company, limited by shares, domiciled in England and Wales, registration number 10535616.  The registered office is 3 Colegate Street, Norwich, Norfolk, United Kingdom, NR3 1BN.
The financial statements are rounded to the nearest £.

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

Going concern

The directors consider that the resources available to the company will be sufficient for it to be able to continue as a going concern. The financial statements do not contain any adjustments that would be required if the company were not able to continue as a going concern.

 
2.3

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.

Page 3

 
FINELIGHT GROUP LIMITED
 

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

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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.

 
2.6

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.

 
2.7

Borrowing costs

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

Page 4

 
FINELIGHT GROUP LIMITED
 

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

2.Accounting policies (continued)

 
2.8

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.

Page 5

 
FINELIGHT GROUP LIMITED
 

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

2.Accounting policies (continued)

 
2.9

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

Depreciation is provided on the following basis:

Plant and machinery
-
20% and 25% straight line basis
Office equipment
-
33% straight line basis

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 the Profit and Loss Account.

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.11

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.

 
2.12

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.

 
2.13

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 5 (2023 - 7).

Page 6

 
FINELIGHT GROUP LIMITED
 

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

4.


Deferred taxation




2024


£






Charged to profit or loss
63,549



At end of year
63,549

The deferred tax asset is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(111)
-

Tax losses carried forward
63,660
-

63,549
-


5.


Tangible fixed assets





Plant and machinery
Office equipment
Total

£
£
£



Cost or valuation


At 1 January 2024
19,447
32,231
51,678


Additions
2,515
516
3,031



At 31 December 2024

21,962
32,747
54,709



Depreciation


At 1 January 2024
8,089
20,062
28,151


Charge for the year on owned assets
4,846
8,828
13,674



At 31 December 2024

12,935
28,890
41,825



Net book value



At 31 December 2024
9,027
3,857
12,884



At 31 December 2023
11,358
12,169
23,527

Page 7

 
FINELIGHT GROUP LIMITED
 

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

6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2024
468,587


Additions
3,561,821


On disposal of subsidiaries
-



At 31 December 2024
4,030,408




Page 8

 
FINELIGHT GROUP LIMITED
 

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

7.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
-
463,015

Other debtors
-
22,935

Prepayments
86,048
102,603

Deferred taxation
63,549
-

149,597
588,553



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
121
-

Bank loans
509,732
-

Trade creditors
4,863
5,128

Amounts owed to group undertakings
1,040,514
-

Other taxation and social security
26,742
68,404

Other creditors
564
14

Accruals
5,915
15,964

1,588,451
89,510



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
1,863,661
-

Amounts owed to group undertakings
573,333
-

2,436,994
-


Page 9

 
FINELIGHT GROUP LIMITED
 

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

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
509,732
-

Amounts falling due 1-2 years

Bank loans
524,513
-

Amounts falling due 2-5 years

Bank loans
1,339,148
-


2,373,393
-



11.


Pension commitments

The Company operates a defined contributions pension scheme. 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 £49,292 (2023 £29,185). Contributions totalling £564 (2023 £14)  were payable to the fund at the balance sheet date and are included in creditors.


Page 10