Caseware UK (AP4) 2024.0.164 2024.0.164 2025-04-302025-04-30true42024-04-01falsetrue4produced and sold skincare productsThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11854609 2024-04-01 2025-04-30 11854609 2023-04-01 2024-03-31 11854609 2025-04-30 11854609 2024-03-31 11854609 c:Director1 2024-04-01 2025-04-30 11854609 d:OfficeEquipment 2024-04-01 2025-04-30 11854609 d:OfficeEquipment 2025-04-30 11854609 d:OfficeEquipment 2024-03-31 11854609 d:CurrentFinancialInstruments 2025-04-30 11854609 d:CurrentFinancialInstruments 2024-03-31 11854609 d:CurrentFinancialInstruments d:WithinOneYear 2025-04-30 11854609 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 11854609 d:ShareCapital 2025-04-30 11854609 d:ShareCapital 2024-03-31 11854609 d:SharePremium 2025-04-30 11854609 d:SharePremium 2024-03-31 11854609 d:RetainedEarningsAccumulatedLosses 2025-04-30 11854609 d:RetainedEarningsAccumulatedLosses 2024-03-31 11854609 c:OrdinaryShareClass1 2024-04-01 2025-04-30 11854609 c:OrdinaryShareClass1 2025-04-30 11854609 c:OrdinaryShareClass1 2024-03-31 11854609 c:FRS102 2024-04-01 2025-04-30 11854609 c:AuditExemptWithAccountantsReport 2024-04-01 2025-04-30 11854609 c:FullAccounts 2024-04-01 2025-04-30 11854609 c:PrivateLimitedCompanyLtd 2024-04-01 2025-04-30 11854609 e:PoundSterling 2024-04-01 2025-04-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11854609










SUBSTANCE GROUP LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 APRIL 2025

 
SUBSTANCE GROUP LTD
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SUBSTANCE GROUP LTD
FOR THE PERIOD ENDED 30 APRIL 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Substance Group Ltd for the period ended 30 April 2025 which comprise  the Statement of financial position and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Substance Group Ltd, as a body, in accordance with the terms of our engagement letter dated 1st December 2021Our work has been undertaken solely to prepare for your approval the financial statements of Substance Group Ltd and state those matters that we have agreed to state to the Board of directors of Substance Group Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Substance Group Ltd and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Substance Group Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Substance Group Ltd. You consider that Substance Group Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or review of the financial statements of Substance Group Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



McColes & Co (Herts) Ltd
 
Chartered Accountants
  
First Floor
28 Whitehorse Street
Baldock
Herts
SG7 6QQ
10 June 2025
Page 1

 
SUBSTANCE GROUP LTD
REGISTERED NUMBER: 11854609

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2025

30 April
31 March
2025
2024
Note
£
£

Fixed assets
  

Tangible assets
 5 
-
625

  
-
625

Current assets
  

Stocks
  
-
35,925

Debtors: amounts falling due within one year
 6 
-
13,125

Cash at bank and in hand
  
-
34,149

  
-
83,199

Creditors: amounts falling due within one year
 7 
(40,217)
(81,561)

Net current (liabilities)/assets
  
 
 
(40,217)
 
 
1,638

Total assets less current liabilities
  
(40,217)
2,263

  

Net (liabilities)/assets
  
(40,217)
2,263


Capital and reserves
  

Called up share capital 
 8 
144
144

Share premium account
  
656,664
656,664

Profit and loss account
  
(697,025)
(654,545)

  
(40,217)
2,263


Page 2

 
SUBSTANCE GROUP LTD
REGISTERED NUMBER: 11854609
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2025

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 period 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 income and retained earnings 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 June 2025.




B R Grace
Director

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

Page 3

 
SUBSTANCE GROUP LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2025

1.Accounting policies

 
1.1

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 Company's functional and presentational currency is GBP.
At 30th April 2025, the company had net liabilities of £40,217.  The company is reliant on the support of the Directors.  It is the intention of the directors to support the company and therefore these accounts have been prepared on a going concern basis.

The following principal accounting policies have been applied:

 
1.2

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 4

 
SUBSTANCE GROUP LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2025

1.Accounting policies (continued)

 
1.3

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
1.4

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.

 
1.5

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.

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:

Office equipment
-
33%

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.

 
1.6

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 reporting 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.

Page 5

 
SUBSTANCE GROUP LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2025

1.Accounting policies (continued)

 
1.7

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.

 
1.8

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.

 
1.9

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.


General information

The company is a private company, limited by shares and registered in England.
Its registered number is:11854609
Its Registered Office is:
61 Benslow Lane
Hitchin
Hertfordshire
SG4 9QZ


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

There have been no significant judgements made by management in preparing these financial statements.


4.


Employees

The average monthly number of employees, including directors, during the period was 4 (2024 - 4).

Page 6

 
SUBSTANCE GROUP LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2025

5.


Tangible fixed assets







Office equipment

£





At 1 April 2024
937


Disposals
(937)



At 30 April 2025

-





At 1 April 2024
312


Disposals
(312)



At 30 April 2025

-



Net book value



At 30 April 2025
-



At 31 March 2024
625


6.


Debtors

30 April
31 March
2025
2024
£
£


Trade debtors
-
915

Other debtors
-
9,635

Prepayments and accrued income
-
2,575

-
13,125


Page 7

 
SUBSTANCE GROUP LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2025

7.


Creditors: Amounts falling due within one year

30 April
31 March
2025
2024
£
£

Trade creditors
-
26,260

Other creditors
40,217
53,923

Accruals and deferred income
-
1,378

40,217
81,561



8.


Share capital

30 April
31 March
2025
2024
£
£
Allotted, called up and fully paid



144,322 (2024 - 136,288) Ordinary shares of £0.001- each
144
144



9.


Related party transactions

The amount due to one of the directors Mr B Grace at the reporting date is £40,217; (2024: £51,686).  The loan does not attract a rate of interest and is repayable on demand.  

 
Page 8