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Registered number: 03677267










THE DAYLIGHT COMPANY LIMITED










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
THE DAYLIGHT COMPANY LIMITED
REGISTERED NUMBER: 03677267

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 5 
224,707
312,018

Tangible assets
 6 
7,310
5,990

  
232,017
318,008

Current assets
  

Stocks
 7 
1,243,325
1,361,933

Debtors: amounts falling due within one year
 8 
841,051
908,031

Cash at bank and in hand
  
1,071,617
1,041,726

  
3,155,993
3,311,690

Creditors: amounts falling due within one year
 9 
(981,831)
(1,286,056)

Net current assets
  
 
 
2,174,162
 
 
2,025,634

Total assets less current liabilities
  
2,406,179
2,343,642

Creditors: amounts falling due after more than one year
 10 
(20,833)
(70,833)

Provisions for liabilities
  

Other provisions
 11 
(44,331)
(34,609)

  
 
 
(44,331)
 
 
(34,609)

Net assets
  
2,341,015
2,238,200


Capital and reserves
  

Called up share capital 
 12 
206,156
206,156

Profit and loss account
  
2,134,859
2,032,044

  
2,341,015
2,238,200


Page 1

 
THE DAYLIGHT COMPANY LIMITED
REGISTERED NUMBER: 03677267
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

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: 




................................................
S Das
Director

Date: 14 July 2025

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

Page 2

 
THE DAYLIGHT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

The Daylight Company Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office is 89-91 Scrubs Lane, London, NW10 6QU.
The functional and presentational currency of the company is the pound sterling and the financial statements are rounded to the nearest £1.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis. The Directors have considered relevant information, including the annual budget, forecast future cash flows and the impact of subsequent events in making their assessment. 
Based on these assessments and having regard to the resources available to the entity, the Directors have concluded that there is no material uncertainty and that the Company can continue to adopt the going concern basis in preparing the annual report and financial statements.

 
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 Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
THE DAYLIGHT COMPANY 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:

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.

 
2.5

Operating leases: the Company as lessor

Rental income from operating leases is credited 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

Interest income

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

 
2.7

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.

 
2.8

Borrowing costs

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

Page 4

 
THE DAYLIGHT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.9

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.

 
2.10

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Computer software is amortised over the length of the licence, this being 3 years.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.11

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:

Fixtures, fittings and office equipment
-
15% reducing balance or 3 years straight line
Computer equipment
-
3 years 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.

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to sell.

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 sell. The impairment loss is recognised immediately in profit or loss.

Page 5

 
THE DAYLIGHT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.13

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.

 
2.14

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.

 
2.15

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.

 
2.16

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

Preparation of the financial statements requires management to make significant judgments and estimates. The items in the financial statements where these judgments and estimates have been made include:
Warranty provision
Provision is made for the cost of faulty goods that are returned to the company where they are covered by a warranty period. Management applies judgment in assessing the value based on levels of returns in previous years and the costs associated with making good this commitment.
Slow moving and obsolence of stocks
Management reviews stock to assess if any provision for slow moving or obsolete stock is appropriate based on their knowledge and experience of the business and future customer orders.


4.


Employees

The average monthly number of employees, including directors, during the year was 28 (2023 - 21).

Page 6

 
THE DAYLIGHT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Intangible assets




Computer software

£



Cost


At 1 January 2024
574,018


Additions
22,689


Fully amortised software
(131,000)



At 31 December 2024

465,707



Amortisation


At 1 January 2024
262,000


Charge for the year
110,000


Fully amortised software
(131,000)



At 31 December 2024

241,000



Net book value



At 31 December 2024
224,707



At 31 December 2023
312,018



Page 7

 
THE DAYLIGHT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Tangible fixed assets





Fixtures, fittings and office equipment
Computer equipment
Total

£
£
£



Cost


At 1 January 2024
56,839
39,839
96,678


Additions
-
4,595
4,595



At 31 December 2024

56,839
44,434
101,273



Depreciation


At 1 January 2024
56,301
34,387
90,688


Charge for the year
538
2,737
3,275



At 31 December 2024

56,839
37,124
93,963



Net book value



At 31 December 2024
-
7,310
7,310



At 31 December 2023
538
5,452
5,990


7.


Stocks

2024
2023
£
£

Goods for resale
1,243,325
1,361,933

1,243,325
1,361,933


Page 8

 
THE DAYLIGHT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


Debtors

2024
2023
£
£


Trade debtors
642,180
721,439

Amounts owed by group undertakings
135,032
145,865

Other debtors
26,569
36,627

Prepayments and accrued income
37,270
4,100

841,051
908,031



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
50,000
50,000

Trade creditors
477,865
626,735

Amounts owed to group undertakings
82,094
152,434

Corporation tax
51,751
71,833

Other taxation and social security
115,171
149,648

Other creditors
22,212
7,822

Accruals and deferred income
182,738
227,584

981,831
1,286,056



10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
20,833
70,833

20,833
70,833


Page 9

 
THE DAYLIGHT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

11.


Provisions





Warranty provision

£





At 1 January 2024
34,609


Charged to profit or loss
9,722



At 31 December 2024
44,331


12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



206,156 (2023 - 206,156) ordinary shares of £1.00 each
206,156
206,156



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 contributions payable by the Company to the fund amounted to £27,312 (2023 - £31,034). Contributions totalling £6,589 (2023 - £5,857) were payable to the fund at the reporting date and are included in creditors. 


14.


Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
69,972
163,983

Later than 1 year and not later than 5 years
-
25,245

69,972
189,228

Page 10

 
THE DAYLIGHT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

15.


Related party transactions

At the balance sheet date £Nil (2023 - £29,968) was due from P H Jacquelin, a director of the company. Interest at a rate of 8% per annum, was charged on this loan in the year and amounted to £Nil (2023 - £10,032). In addition to this, the company rents property from P H Jacquelin for £57,500 (2023 - £57,500) per annum.
As at 31 December 2024, an amount of £Nil (2023 - £14,726) was owed by Daylightex Limited, a company in which P H Jacquelin is the sole shareholder and director. Daylightex Limited was dissolved in 2024.
The company has taken the exemption available in FRS102 1A.35 not to disclose balances and transactions entered into between two or more members of the group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member.


16.


Controlling party

The immediate controlling parent company is The Daylight Company (Holdings) Limited, a company registered in England and Wales in the United Kingdom. The ultimate controlling party is P H Jacquelin.


17.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 14 July 2025 by Rajeev Shaunak BSc FCA (Senior Statutory Auditor) on behalf of MHA.

 
Page 11