Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302024-09-30false2023-10-01falseholding of investments and provision of loans22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11380104 2023-10-01 2024-09-30 11380104 2022-10-01 2023-09-30 11380104 2024-09-30 11380104 2023-09-30 11380104 c:Director1 2023-10-01 2024-09-30 11380104 d:MotorVehicles 2023-10-01 2024-09-30 11380104 d:MotorVehicles 2024-09-30 11380104 d:MotorVehicles 2023-09-30 11380104 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 11380104 d:OfficeEquipment 2023-10-01 2024-09-30 11380104 d:OfficeEquipment 2024-09-30 11380104 d:OfficeEquipment 2023-09-30 11380104 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 11380104 d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 11380104 d:CurrentFinancialInstruments 2024-09-30 11380104 d:CurrentFinancialInstruments 2023-09-30 11380104 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 11380104 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 11380104 d:ShareCapital 2024-09-30 11380104 d:ShareCapital 2023-09-30 11380104 d:RevaluationReserve 2024-09-30 11380104 d:RevaluationReserve 2023-09-30 11380104 d:OtherMiscellaneousReserve 2023-10-01 2024-09-30 11380104 d:RetainedEarningsAccumulatedLosses 2023-10-01 2024-09-30 11380104 d:RetainedEarningsAccumulatedLosses 2024-09-30 11380104 d:RetainedEarningsAccumulatedLosses 2023-09-30 11380104 c:FRS102 2023-10-01 2024-09-30 11380104 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 11380104 c:FullAccounts 2023-10-01 2024-09-30 11380104 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 11380104 d:AcceleratedTaxDepreciationDeferredTax 2024-09-30 11380104 d:AcceleratedTaxDepreciationDeferredTax 2023-09-30 11380104 d:TaxLossesCarry-forwardsDeferredTax 2024-09-30 11380104 d:TaxLossesCarry-forwardsDeferredTax 2023-09-30 11380104 d:OtherDeferredTax 2024-09-30 11380104 d:OtherDeferredTax 2023-09-30 11380104 6 2023-10-01 2024-09-30 11380104 e:PoundSterling 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure

Registered number: 11380104









POCKET HERCULES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
POCKET HERCULES LIMITED
REGISTERED NUMBER: 11380104

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
117,831
2,320

Investments
 6 
6,375,558
6,888,180

  
6,493,389
6,890,500

Current assets
  

Debtors: amounts falling due within one year
 7 
2,819,711
2,817,710

Cash at bank and in hand
  
1,086
778

  
2,820,797
2,818,488

Creditors: amounts falling due within one year
 8 
(8,801,875)
(9,349,585)

Net current liabilities
  
 
 
(5,981,078)
 
 
(6,531,097)

Total assets less current liabilities
  
512,311
359,403

  

Net assets
  
512,311
359,403


Capital and reserves
  

Called up share capital 
  
100
100

Fair value reserve
 10 
398,534
370,627

Profit and loss account
 10 
113,677
(11,324)

  
512,311
359,403

Page 1

 
POCKET HERCULES LIMITED
REGISTERED NUMBER: 11380104
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 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 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 P McConnell
Director

Date: 19 June 2025

The notes on pages 3 to 10 form part of these financial statements.
Page 2

 
POCKET HERCULES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Pocket Hercules Limited is a company limited by shares incorporated in England and Wales under the Companies Act 2006. The address of the registered office is given on the Company information page. The principal activity of the company is the holding of investments and provision of loans.

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 financial statements have been prepared on the going concern basis as the Directors believe that adequate cash resources will be available to cover the Company’s requirements for working capital and capital expenditure for at least the next twelve months.

 
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.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
POCKET HERCULES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
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

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.

 
2.6

Borrowing costs

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

 
2.7

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.

Page 4

 
POCKET HERCULES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 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.


 
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, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
15%
reducing balance
Office equipment
-
3 year straight-line

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.

Page 5

 
POCKET HERCULES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.10

Valuation of investments

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.

 
2.11

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

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.

 
2.13

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.

 
2.14

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.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. The nature of estimation means the actual outcomes could differ from those estimates.


4.


Employees

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

Page 6

 
POCKET HERCULES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 October 2023
-
2,856
2,856


Additions
129,403
-
129,403



At 30 September 2024

129,403
2,856
132,259



Depreciation


At 1 October 2023
-
536
536


Charge for the year on owned assets
12,940
952
13,892



At 30 September 2024

12,940
1,488
14,428



Net book value



At 30 September 2024
116,463
1,368
117,831



At 30 September 2023
-
2,320
2,320


6.


Fixed asset investments





Listed investments

£



Cost or valuation


At 1 October 2023
6,888,180


Disposals
(1,076,920)


Revaluations
564,298



At 30 September 2024
6,375,558




Page 7

 
POCKET HERCULES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7.


Debtors

2024
2023
£
£


Other debtors
2,810,663
2,810,663

Deferred taxation
9,048
7,047

2,819,711
2,817,710



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other loans
4,653,715
4,652,986

Other creditors
4,144,758
4,693,899

Accruals and deferred income
3,402
2,700

8,801,875
9,349,585


The following liabilities were secured:

2024
2023
£
£



Other loan
4,653,714
4,652,986

4,653,714
4,652,986

Details of security provided:

The loan is secured over the investments of the Company.

Page 8

 
POCKET HERCULES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

9.


Deferred taxation




2024


£






At beginning of year
7,047


Charged to profit or loss
2,001



At end of year
9,048

The deferred tax arises on the unrealised gains on the listed investments as at the Balance Sheet date.

The deferred tax asset is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(29,458)
(580)

Tax losses carried forward
171,351
134,093

Capital gains
(132,845)
(126,466)

9,048
7,047


10.


Reserves

Other reserves

The balance in the fair value reserve arises from the restatement of fixed asset investments to market
value at the balance sheet date.

Profit and loss account

The profit and loss account represents the distributable reserves of the Company.


11.


Prior year adjustment

A reclassification of a loan has taken place to an inter company debt. There was no effect on the Profit and Loss Account.


12.


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 £960 (2023 - £720). Contributions totalling £nil (2022 - £nil) were payable to the fund at the balance sheet date.

Page 9

 
POCKET HERCULES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

13.


Related party transactions

Included in other creditors is a loan from the Directors of £4,144,758 (2023: £4,693,899). No interest is charged on this loan and it is repayable on demand.

 
Page 10