Caseware UK (AP4) 2024.0.164 2024.0.164 true2023-11-01falseNo description of principal activityfalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05937229 2023-11-01 2024-10-31 05937229 2022-11-01 2023-10-31 05937229 2024-10-31 05937229 2023-10-31 05937229 c:Director1 2023-11-01 2024-10-31 05937229 d:FurnitureFittings 2023-11-01 2024-10-31 05937229 d:FurnitureFittings 2024-10-31 05937229 d:FurnitureFittings 2023-10-31 05937229 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 05937229 d:OfficeEquipment 2023-11-01 2024-10-31 05937229 d:OfficeEquipment 2024-10-31 05937229 d:OfficeEquipment 2023-10-31 05937229 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 05937229 d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 05937229 d:CurrentFinancialInstruments 2024-10-31 05937229 d:CurrentFinancialInstruments 2023-10-31 05937229 d:CurrentFinancialInstruments d:WithinOneYear 2024-10-31 05937229 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 05937229 d:ShareCapital 2024-10-31 05937229 d:ShareCapital 2023-10-31 05937229 d:RetainedEarningsAccumulatedLosses 2024-10-31 05937229 d:RetainedEarningsAccumulatedLosses 2023-10-31 05937229 c:FRS102 2023-11-01 2024-10-31 05937229 c:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 05937229 c:FullAccounts 2023-11-01 2024-10-31 05937229 c:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 05937229 2 2023-11-01 2024-10-31 iso4217:GBP xbrli:pure

Registered number: 05937229










Peter Anderson Studio Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 October 2024

 
Peter Anderson Studio Limited
Registered number: 05937229

Balance sheet
As at 31 October 2024


2024

2023
Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
57,632
69,905

Investments
 5 
20,000
20,000

  
77,632
89,905

Current assets
  

Stocks
 6 
35,200
40,570

Debtors: amounts falling due within one year
 7 
82,623
236,001

Cash at bank and in hand
  
658,913
746,833

  
776,736
1,023,404

Creditors: amounts falling due within one year
 8 
(103,302)
(206,157)

Net current assets
  
 
 
673,434
 
 
817,247

Total assets less current liabilities
  
751,066
907,152

  

Net assets
  
751,066
907,152


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
750,966
907,052

  
751,066
907,152


The director considers 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 Companies Act 2006.

The director acknowledges his 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 on 17 June 2025.


P Anderson
Director

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 
Peter Anderson Studio Limited
 

 
Notes to the financial statements
For the year ended 31 October 2024

1.


General information

Peter Anderson Studio Limited is a private company limited by shares incorporated and domiciled in England and Wales. The address of its registered office and the principal place of business are disclosed on the company information page.

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

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 2

 
Peter Anderson Studio Limited
 

 
Notes to the financial statements
For the year ended 31 October 2024

2.Accounting policies (continued)

 
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.

 
2.4

Interest income

Interest income is recognised in the Profit and loss account using the effective interest method.

 
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 Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds. 

 
2.6

Taxation

Tax is recognised in the Profit and loss account, 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.

 
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 3

 
Peter Anderson Studio Limited
 

 
Notes to the financial statements
For the year ended 31 October 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 a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
Office equipment
-
25%

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 the Profit and loss account.

 
2.8

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
2.9

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 outbasis. 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.

 
2.10

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.

 
2.11

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.

 
2.12

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.

 
2.13

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Page 4

 
Peter Anderson Studio Limited
 

 
Notes to the financial statements
For the year ended 31 October 2024

2.Accounting policies (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 10 (2023 - 6).


4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 November 2023
5,742
100,015
105,757


Additions
-
6,938
6,938



At 31 October 2024

5,742
106,953
112,695



Depreciation


At 1 November 2023
3,268
32,584
35,852


Charge for the year on owned assets
619
18,592
19,211



At 31 October 2024

3,887
51,176
55,063



Net book value



At 31 October 2024
1,855
55,777
57,632



At 31 October 2023
2,474
67,431
69,905


5.


Fixed asset investments





Investments in associates

£



Cost or valuation


At 1 November 2023 and 31 October 2024
20,000




Page 5

 
Peter Anderson Studio Limited
 

 
Notes to the financial statements
For the year ended 31 October 2024

6.


Stocks

2024
2023
£
£

Work in progress (goods to be sold)
35,200
40,570

35,200
40,570



7.


Debtors

2024
2023
£
£


Trade debtors
73,330
227,572

Other debtors
9,293
8,429

82,623
236,001



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
16,454
18,625

Corporation tax
12,538
105,305

Other taxation and social security
68,272
72,785

Other creditors
2,038
5,442

Accruals and deferred income
4,000
4,000

103,302
206,157



9.


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 £47,303 (2023 - £5,968) Contributions totalling £Nil (2023 - £1,434) were payable to the fund at the balance sheet date and are included in creditors.

Page 6

 
Peter Anderson Studio Limited
 

 
Notes to the financial statements
For the year ended 31 October 2024

10.


Related party transactions

The company has an investment in an associate company, Thinking Place Limited, a company registered in England in which Mr P J Anderson is also a director.
During the year the company sold services to the value of £120,716 (2023: £20,988) and purchased services to the value of £10,167 (2023: £3,979) from Thinking Place Limited. Each transaction took place at an arm's length basis and at prevailing market rates. At the balance sheet date, Trade Debtors include £45,750 (2023: £2,400) due from Thinking Place Limited.
At the balance sheet date included in Creditors: amounts falling due within one year is a loan from the director, Mr P J Anderson to the company of £2,038 (2023: £4,008). This loan is interest free and repayable on demand.
 


Page 7