Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-312025-05-28true172024-01-01falseInformation technology consultancy activities18trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02803958 2024-01-01 2024-12-31 02803958 2022-08-01 2023-12-31 02803958 2024-12-31 02803958 2023-12-31 02803958 2022-08-01 02803958 c:Director4 2024-01-01 2024-12-31 02803958 d:Buildings 2024-01-01 2024-12-31 02803958 d:Buildings 2024-12-31 02803958 d:Buildings 2023-12-31 02803958 d:Buildings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 02803958 d:Buildings d:LongLeaseholdAssets 2024-01-01 2024-12-31 02803958 d:PlantMachinery 2024-01-01 2024-12-31 02803958 d:PlantMachinery 2024-12-31 02803958 d:PlantMachinery 2023-12-31 02803958 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 02803958 d:FurnitureFittings 2024-01-01 2024-12-31 02803958 d:FurnitureFittings 2024-12-31 02803958 d:FurnitureFittings 2023-12-31 02803958 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 02803958 d:OfficeEquipment 2024-01-01 2024-12-31 02803958 d:OfficeEquipment 2024-12-31 02803958 d:OfficeEquipment 2023-12-31 02803958 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 02803958 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 02803958 d:CurrentFinancialInstruments 2024-12-31 02803958 d:CurrentFinancialInstruments 2023-12-31 02803958 d:Non-currentFinancialInstruments 2024-12-31 02803958 d:Non-currentFinancialInstruments 2023-12-31 02803958 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 02803958 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 02803958 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 02803958 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 02803958 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-12-31 02803958 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 02803958 d:ShareCapital 2024-12-31 02803958 d:ShareCapital 2023-12-31 02803958 d:RetainedEarningsAccumulatedLosses 2024-12-31 02803958 d:RetainedEarningsAccumulatedLosses 2023-12-31 02803958 d:AcceleratedTaxDepreciationDeferredTax 2024-12-31 02803958 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 02803958 c:OrdinaryShareClass1 2024-01-01 2024-12-31 02803958 c:OrdinaryShareClass1 2024-12-31 02803958 c:OrdinaryShareClass1 2023-12-31 02803958 c:OrdinaryShareClass2 2024-01-01 2024-12-31 02803958 c:OrdinaryShareClass2 2024-12-31 02803958 c:OrdinaryShareClass2 2023-12-31 02803958 c:FRS102 2024-01-01 2024-12-31 02803958 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 02803958 c:FullAccounts 2024-01-01 2024-12-31 02803958 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 02803958 2 2024-01-01 2024-12-31 02803958 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 02803958










SIRE TECHNOLOGY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
SIRE TECHNOLOGY LIMITED
REGISTERED NUMBER: 02803958

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
918,669
800,381

  
918,669
800,381

Current assets
  

Stocks
 5 
-
1,525

Debtors: amounts falling due within one year
 6 
1,074,155
978,928

Cash at bank and in hand
 7 
402,442
476,279

  
1,476,597
1,456,732

Creditors: amounts falling due within one year
 8 
(1,285,563)
(1,043,704)

Net current assets
  
 
 
191,034
 
 
413,028

Total assets less current liabilities
  
1,109,703
1,213,409

Creditors: amounts falling due after more than one year
 9 
-
(218,008)

Provisions for liabilities
  

Deferred tax
 11 
(27,531)
(20,540)

  
 
 
(27,531)
 
 
(20,540)

Net assets
  
1,082,172
974,861


Capital and reserves
  

Called up share capital 
 12 
1,580
1,580

Profit and loss account
  
1,080,592
973,281

  
1,082,172
974,861


Page 1

 
SIRE TECHNOLOGY LIMITED
REGISTERED NUMBER: 02803958

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 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 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: 




M Allen
Director

Date: 28 May 2025

The notes on pages 3 to 11 form part of these financial statements.
Page 2

 
SIRE TECHNOLOGY LIMITED
 

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

1.


General information

SIRE Technology Limited is a  private  Company, limited by share capital and incorporated in England and Wales.   
The Company's registered office and prinicpal place of business is 23 Wellington Business Park, Crowthorne, Berkshire, RG45 6LS. 

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, 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.

Page 3

 
SIRE TECHNOLOGY LIMITED
 

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

2.Accounting policies (continued)

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.5

Interest income

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

 
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.

 
2.8

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

 
SIRE TECHNOLOGY LIMITED
 

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

2.Accounting policies (continued)

 
2.9

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.

 
2.10

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:

Land and buildings Freehold
-
over 50 years
Land and buildings leasehold
-
over the life of the lease
Project Equipment
-
over 3 years
Fixtures and fittings
-
over 2 or 3 years
Office equipment
-
over 2 or 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.

Page 5

 
SIRE TECHNOLOGY LIMITED
 

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

2.Accounting policies (continued)

 
2.11

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.

 
2.12

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.

 
2.13

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.

 
2.14

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.

 
2.15

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.

 
2.16

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.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

 
2.17

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.

Page 6

 
SIRE TECHNOLOGY LIMITED
 

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

3.


Employees

The average monthly number of employees, including directors, during the year was 18 (2023 - 17).


4.


Tangible fixed assets





Land and Buildings
Project Equipment
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2024
791,883
507,756
9,193
51,483
1,360,315


Additions
-
225,857
-
3,324
229,181


Disposals
-
(114,388)
-
-
(114,388)



At 31 December 2024

791,883
619,225
9,193
54,807
1,475,108



Depreciation


At 1 January 2024
85,789
428,064
9,193
36,888
559,934


Charge for the year on owned assets
15,838
86,398
-
8,657
110,893


Disposals
-
(114,388)
-
-
(114,388)



At 31 December 2024

101,627
400,074
9,193
45,545
556,439



Net book value



At 31 December 2024
690,256
219,151
-
9,262
918,669



At 31 December 2023
706,094
79,692
-
14,595
800,381


5.


Stocks

2024
2023
£
£

Finished goods and goods for resale
-
1,525

-
1,525


Page 7

 
SIRE TECHNOLOGY LIMITED
 

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

6.


Debtors

2024
2023
£
£

Trade debtors
97,249
204,528

Amounts owed by group undertakings
221,595
219,920

Prepayments and accrued income
755,311
554,480

1,074,155
978,928



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
402,442
476,279

Less: bank overdrafts
(103,987)
-

298,455
476,279



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
103,987
-

Bank loans
-
15,197

Trade creditors
187,694
201,021

Corporation tax
43,449
93,020

Other taxation and social security
36,342
67,827

Other creditors
8,560
9,721

Accruals and deferred income
905,531
656,918

1,285,563
1,043,704


Page 8

 
SIRE TECHNOLOGY LIMITED
 

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

9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
-
218,008

-
218,008



10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
-
15,197


-
15,197

Amounts falling due 1-2 years

Bank loans
-
218,008


-
218,008

-
233,205


Page 9

 
SIRE TECHNOLOGY LIMITED
 

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

11.


Deferred taxation




2024
2023


£

£






At beginning of year
(20,540)
(27,102)


Charged to profit or loss
(6,991)
6,562



At end of year
(27,531)
(20,540)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(27,531)
(20,540)

(27,531)
(20,540)

Page 10

 
SIRE TECHNOLOGY LIMITED
 

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

12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



375 (2023 - 375) Ordinary Class A shares of £1 each
375
375
1,205 (2023 - 1,205) Ordinary Class B shares of £1 each
1,205
1,205

1,580

1,580



13.


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 £29,653 (2023 - £36,176). Contributions totalling £4,343 (2023 -  £4,665) were payable to the fund at the balance sheet date and are included in creditors


14.


Related party transactions

Dividends totalling £28,500 (2023: £40,375) were declared in the year in respect of shares held by the Company's directors and their wives.
At the year end a balance of £nil (2023: £nil) was owed to one of the directors.
During the year the Company declared dividends of £114,003 (2023: £161,504) to its parent Company.
At the year end the Company was owed £221,595 (2023: £219,920) by its parent Company.


15.


Parent Company

At the balance sheet date, the ultimate parent Company is SGOC Limited, a Company registered in England and Wales. From 6 February 2025, the immediate parent Company is SGOC Limited and the ultimate parent Company is Managed IT Services Group Ltd. 


Page 11