Caseware UK (AP4) 2024.0.164 2024.0.164 2024-07-312024-07-312false2023-08-01falseNo description of principal activity3falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08196476 2023-08-01 2024-07-31 08196476 2022-08-01 2023-07-31 08196476 2024-07-31 08196476 2023-07-31 08196476 c:Director1 2023-08-01 2024-07-31 08196476 d:Buildings 2023-08-01 2024-07-31 08196476 d:Buildings 2024-07-31 08196476 d:Buildings 2023-07-31 08196476 d:Buildings d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 08196476 d:PlantMachinery 2023-08-01 2024-07-31 08196476 d:PlantMachinery 2024-07-31 08196476 d:PlantMachinery 2023-07-31 08196476 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 08196476 d:MotorVehicles 2023-08-01 2024-07-31 08196476 d:MotorVehicles 2024-07-31 08196476 d:MotorVehicles 2023-07-31 08196476 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 08196476 d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 08196476 d:CurrentFinancialInstruments 2024-07-31 08196476 d:CurrentFinancialInstruments 2023-07-31 08196476 d:Non-currentFinancialInstruments 2024-07-31 08196476 d:Non-currentFinancialInstruments 2023-07-31 08196476 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 08196476 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 08196476 d:Non-currentFinancialInstruments d:AfterOneYear 2024-07-31 08196476 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 08196476 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-07-31 08196476 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-07-31 08196476 d:ShareCapital 2024-07-31 08196476 d:ShareCapital 2023-07-31 08196476 d:RetainedEarningsAccumulatedLosses 2024-07-31 08196476 d:RetainedEarningsAccumulatedLosses 2023-07-31 08196476 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-07-31 08196476 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-07-31 08196476 c:OrdinaryShareClass1 2023-08-01 2024-07-31 08196476 c:OrdinaryShareClass1 2024-07-31 08196476 c:OrdinaryShareClass1 2023-07-31 08196476 c:OrdinaryShareClass2 2023-08-01 2024-07-31 08196476 c:OrdinaryShareClass2 2024-07-31 08196476 c:OrdinaryShareClass2 2023-07-31 08196476 c:OrdinaryShareClass3 2023-08-01 2024-07-31 08196476 c:OrdinaryShareClass3 2024-07-31 08196476 c:OrdinaryShareClass3 2023-07-31 08196476 c:OrdinaryShareClass4 2023-08-01 2024-07-31 08196476 c:OrdinaryShareClass4 2024-07-31 08196476 c:OrdinaryShareClass4 2023-07-31 08196476 c:FRS102 2023-08-01 2024-07-31 08196476 c:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 08196476 c:FullAccounts 2023-08-01 2024-07-31 08196476 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 08196476 d:AcceleratedTaxDepreciationDeferredTax 2024-07-31 08196476 d:AcceleratedTaxDepreciationDeferredTax 2023-07-31 08196476 6 2023-08-01 2024-07-31 08196476 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 08196476














J SKITT & SONS (HOLDINGS) LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 JULY 2024

 
J SKITT & SONS (HOLDINGS) LIMITED
REGISTERED NUMBER: 08196476

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note

Fixed assets
  

Tangible assets
 4 
358,377
395,453

Investments
 5 
10
61,000

  
358,387
456,453

Current assets
  

Debtors: amounts falling due within one year
 6 
84,618
19,254

Cash at bank and in hand
  
17,576
63,793

  
102,194
83,047

Creditors: amounts falling due within one year
 7 
(303,431)
(215,652)

Net current liabilities
  
 
 
(201,237)
 
 
(132,605)

Total assets less current liabilities
  
157,150
323,848

Creditors: amounts falling due after more than one year
 8 
-
(4,399)

Provisions for liabilities
  

Deferred tax
 11 
(36,731)
(46,000)

  
 
 
(36,731)
 
 
(46,000)

Net assets
  
£120,419
£273,449


Capital and reserves
  

Called up share capital 
 12 
61,000
61,000

Profit and loss account
  
59,419
212,449

  
£120,419
£273,449


Page 1

 
J SKITT & SONS (HOLDINGS) LIMITED
REGISTERED NUMBER: 08196476

BALANCE SHEET (CONTINUED)
AS AT 31 JULY 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 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 24 July 2025.




................................................
Mr M J Skitt
Director

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

Page 2

 
J SKITT & SONS (HOLDINGS) LIMITED
 

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

1.


General information

J Skitt & Sons (Holdings) Limited is a private company, limited by shares, incorporated in England and Wales.
The registered number is 08196476.
The registered office is Cowells Yard, Ashford Road, Kingsnorth, Ashford, Kent, TN26 2NJ.

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

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

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.

 
2.4

Borrowing costs

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

Page 3

 
J SKITT & SONS (HOLDINGS) LIMITED
 

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

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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.


 
2.7

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.

Page 4

 
J SKITT & SONS (HOLDINGS) LIMITED
 

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

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis;.

Depreciation is provided on the following basis:

Freehold property
-
Not depreciated
Plant and machinery
-
25%
reducing balance basis
Motor vehicles
-
25%
reducing balance basis

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.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

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.

 
2.13

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
Page 5

 
J SKITT & SONS (HOLDINGS) LIMITED
 

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

2.Accounting policies (continued)


2.13
Financial instruments (continued)

party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
Page 6

 
J SKITT & SONS (HOLDINGS) LIMITED
 

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

2.Accounting policies (continued)


2.13
Financial instruments (continued)


 
2.14

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 2).


4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Total



Cost or valuation


At 1 August 2023
211,453
132,000
52,000
395,453


Additions
-
60,425
26,195
86,620


Disposals
-
(51,000)
(41,500)
(92,500)



At 31 July 2024

211,453
141,425
36,695
389,573



Depreciation


Charge for the year on owned assets
-
31,435
11,606
43,041


Disposals
-
(6,501)
(5,344)
(11,845)



At 31 July 2024

-
24,934
6,262
31,196



Net book value



At 31 July 2024
£211,453
£116,491
£30,433
£358,377



At 31 July 2023
£211,453
£132,000
£52,000
£395,453

Page 7

 
J SKITT & SONS (HOLDINGS) LIMITED
 

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

5.


Fixed asset investments





Investments in subsidiary companies



Cost or valuation


At 1 August 2023
61,000


Additions
10



At 31 July 2024

61,010



Impairment


Charge for the period
61,000



At 31 July 2024

61,000



Net book value



At 31 July 2024
£10



At 31 July 2023
£61,000


6.


Debtors

2024
2023


Amounts owed by group undertakings
82,244
19,254

Other debtors
2,374
-

£84,618
£19,254



7.


Creditors: Amounts falling due within one year

2024
2023

Bank loans
4,399
12,834

Amounts owed to group undertakings
610
-

Corporation tax
5,555
2,373

Other taxation and social security
5,332
-

Other creditors
279,107
200,445

Accruals and deferred income
8,428
-

£303,431
£215,652


Page 8

 
J SKITT & SONS (HOLDINGS) LIMITED
 

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

8.


Creditors: Amounts falling due after more than one year

2024
2023

Bank loans
-
4,399

£-
£4,399



9.


Loans


Analysis of the maturity of loans is given below:


2024
2023

Amounts falling due within one year

Bank loans
4,399
12,834


4,399
12,834

Amounts falling due 1-2 years

Bank loans
-
4,399


-
4,399



£4,399
£17,233



10.


Financial instruments

2024
2023

Financial assets


Financial assets measured at fair value through profit or loss
£17,576
£63,793




Financial assets measured at fair value through profit or loss comprise of cash at bank and in hand. 


11.


Deferred taxation




2024





At beginning of year
46,000


Charged to profit or loss
(9,269)



At end of year
£36,731

Page 9

 
J SKITT & SONS (HOLDINGS) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
 
11.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2024
2023


Accelerated capital allowances
36,731
46,000

£36,731
£46,000


12.


Share capital

2024
2023
Allotted, called up and fully paid



500 (2023 - 500) A Ordinary shares of £1.00 each
500
500
56,950 (2023 - 56,950) B Ordinary shares of £1.00 each
56,950
56,950
500 (2023 - 500) C Ordinary shares of £1.00 each
500
500
3,050 (2022 - nil 3,050) D Ordinary shares of £1.00 each
3,050
3,050

£61,000

£61,000


Page 10

 
J SKITT & SONS (HOLDINGS) LIMITED
 

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

13.

Ultimate parent undertaking and controlling party

There is no immediate or ultimate parent undertaking of the company. 
There is no controlling party of the company.
The company is exempt from the requirement of preparing consolidated financial statements as it is a parent undertaking of a small group under section 383 of the Companies Act 2006.



14.


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 £95 (2023 - £nil) . Contributions totalling £39 (2023 - £39) were payable to the fund at the balance sheet date and are included in creditors.

Page 11