Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302024-09-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2024-01-10falseNo description of principal activityfalse0false0true 15402729 2024-01-09 15402729 2024-01-10 2024-09-30 15402729 2023-01-10 2024-01-09 15402729 2024-09-30 15402729 c:Director2 2024-01-10 2024-09-30 15402729 d:CurrentFinancialInstruments 2024-09-30 15402729 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 15402729 d:ShareCapital 2024-09-30 15402729 d:RetainedEarningsAccumulatedLosses 2024-09-30 15402729 c:FRS102 2024-01-10 2024-09-30 15402729 c:AuditExempt-NoAccountantsReport 2024-01-10 2024-09-30 15402729 c:FullAccounts 2024-01-10 2024-09-30 15402729 c:PrivateLimitedCompanyLtd 2024-01-10 2024-09-30 15402729 e:PoundSterling 2024-01-10 2024-09-30 iso4217:GBP xbrli:pure

Registered number: 15402729










SOURCETM LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 SEPTEMBER 2024

 
SOURCETM LTD
REGISTERED NUMBER:15402729

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024

2024
Note
£

  

Current assets
  

Debtors: amounts falling due within one year
  
61,461

Cash at bank and in hand
  
35,497

  
96,958

Creditors: amounts falling due within one year
  
(42,048)

Net current assets
  
 
 
54,910

Total assets less current liabilities
  
54,910

  

Net assets
  
54,910


Capital and reserves
  

Called up share capital 
  
100

Profit and loss account
  
54,810

  
54,910


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 income statement 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: 


Mr M P Webb
Director

Date: 24 June 2025

The notes on pages 2 to 4 form part of these financial statements.
Page 1

 
SOURCETM LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

1.


General information

SourceTM Ltd is a private company limited by shares and incorporated in England and Wales, registration number 15402729. The registered office is Unit 5 Snetterton Business Park, Snetterton, Norwich, Norfolk, NR16 2JU.

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 financial statements are presented in sterling which is the functional currency of the Company and rounded to the nearest £.
The significant accounting policies applied in the prepareation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

 
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:

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.

 
2.3

Taxation

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 reporting date in the countries where the Company operates and generates income.


Page 2

 
SOURCETM LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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.

 
2.6

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 Company has no employees other than the directors, who did not receive any remuneration.

The average monthly number of employees, including directors, during the period was 0.


4.


Debtors

2024
£


Trade debtors
61,461

61,461



5.


Creditors: Amounts falling due within one year

2024
£

Trade creditors
6,929

Amounts owed to group undertakings
9,804

Corporation tax
17,909

Accruals and deferred income
7,406

42,048


Page 3

 
SOURCETM LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

6.


Related party transactions

All revenue generated by the company during the financial period was derived from services provided to its parent company, Hawthorndon Developments Limited. The total revenue from these transactions amounted to £189,915. The terms of these transactions are conducted on an arm's length basis.
The company has taken advantage of the exemption under 33.1A, allowing owned group members to depart form the requirements to disclose transactions with other group companies.

 
Page 4