Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-312024-01-01truetruefalseThe principle activity of the company during the year was that of corporate management and fudiciary service provider.24truefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04280137 2024-01-01 2024-12-31 04280137 2023-01-01 2023-12-31 04280137 2024-12-31 04280137 2023-12-31 04280137 c:Director1 2024-01-01 2024-12-31 04280137 c:Director1 2024-12-31 04280137 c:Director2 2024-01-01 2024-12-31 04280137 c:Director2 2024-12-31 04280137 c:RegisteredOffice 2024-01-01 2024-12-31 04280137 d:CurrentFinancialInstruments 2024-12-31 04280137 d:CurrentFinancialInstruments 2023-12-31 04280137 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 04280137 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 04280137 d:ShareCapital 2024-12-31 04280137 d:ShareCapital 2023-12-31 04280137 d:SharePremium 2024-12-31 04280137 d:SharePremium 2023-12-31 04280137 d:RetainedEarningsAccumulatedLosses 2024-12-31 04280137 d:RetainedEarningsAccumulatedLosses 2023-12-31 04280137 c:OrdinaryShareClass1 2024-01-01 2024-12-31 04280137 c:OrdinaryShareClass1 2024-12-31 04280137 c:OrdinaryShareClass1 2023-12-31 04280137 c:FRS102 2024-01-01 2024-12-31 04280137 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 04280137 c:FullAccounts 2024-01-01 2024-12-31 04280137 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 04280137 2 2024-01-01 2024-12-31 04280137 e:PoundSterling 2024-01-01 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 04280137










CORPAG SERVICES (UK) LIMITED









DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
CORPAG SERVICES (UK) LIMITED
 
 
COMPANY INFORMATION


Directors
N Mulvihill (appointed 17 June 2022)
A C Van Munster-Visser (appointed 27 September 2022)




Registered number
04280137



Registered office
1 Charterhouse Mews

London

United Kingdom

EC1M 6BB





 
CORPAG SERVICES (UK) LIMITED
 

CONTENTS



Page
Directors' Report
1
Statement of Comprehensive Income
2
Statement of Financial Position
3 - 4
Notes to the Financial Statements
5 - 10


 
CORPAG SERVICES (UK) LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

The directors present their report and the financial statements for the year ended 31 December 2024.

Directors

The directors who served during the year were:

N Mulvihill (appointed 17 June 2022)
A C Van Munster-Visser (appointed 27 September 2022)

Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





................................................
N Mulvihill
Director
................................................
A C Van Munster-Visser
Director


Date: 24 July 2025
Date: 24 July 2025

Page 1

 
CORPAG SERVICES (UK) LIMITED
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024

2024
2023
Note
£
£

  

Turnover
  
326,852
313,091

Cost of sales
  
(30,106)
(58,267)

Gross profit
  
296,746
254,824

Administrative expenses
  
(257,690)
(310,562)

Operating profit/(loss)
  
39,056
(55,738)

Interest receivable and similar income
  
1,470
22

Interest payable and similar expenses
  
(6)
(6,008)

Profit/(loss) before tax
  
40,520
(61,724)

Tax on profit/(loss)
  
-
27,561

Profit/(loss) for the financial year
  
40,520
(34,163)

There was no other comprehensive income for 2024 (2023:£NIL).

The notes on pages 5 to 10 form part of these financial statements.

Page 2

 
CORPAG SERVICES (UK) LIMITED
REGISTERED NUMBER: 04280137

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
109,932
160,444

Cash at bank and in hand
 5 
161,202
48,994

  
271,134
209,438

Creditors: amounts falling due within one year
 6 
(182,525)
(161,350)

Net current assets
  
 
 
88,609
 
 
48,088

Total assets less current liabilities
  
88,609
48,088

  

Net assets
  
88,609
48,088


Capital and reserves
  

Called up share capital 
 7 
2,000
2,000

Share premium account
  
199,000
199,000

Profit and loss account
  
(112,391)
(152,912)

  
88,609
48,088


Page 3

 
CORPAG SERVICES (UK) LIMITED
REGISTERED NUMBER: 04280137
    
STATEMENT OF FINANCIAL POSITION (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 were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
N Mulvihill
................................................
A C Visser
Director
Director


Date: 24 July 2025

The notes on pages 5 to 10 form part of these financial statements.

Page 4

 
CORPAG SERVICES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

These financial statements are presented in Pounds (GBP), as that is the currency in which the majority of the company's transactions are denominated. They comprise the financial statements of the company for the year ended 31 December 2024 and presented to the nearest pound.
The company has determined that the GBP is its functional currency, as this is the currency of the economic environment in which the Company predominantly operates.
The principal activity of the company during the year was that of corporate management and fudiciary services provider.
The company is a United Kingdom company limited by shares. It is both incorporated and domiciled in England and Wales. The registered office address is 1 Charterhouse Mews, London, EC1M 6BB.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d).

This information is included in the consolidated financial statements of Corpag Holding B.V. as at 31 December 2024 and these financial statements may be obtained from The Netherlands.

 
2.3

Going concern

The directors of the Company are assessing the Russia-Ukraine war and the Israel-Palestine war situations continuously. The Russia-Ukraine situation had an effect on a debtor and the Fixed asset investment in this debtor. The debtor has been dissolved on 5 March 2024. The financial impact on this was limited. The directors are continually reviewing their plans and forecasts and believe that the going concern basis is appropriate in the short term. Therefore these accounts have been prepared on the company's ability to continue as a going concern.

Page 5

 
CORPAG SERVICES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

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.

 
2.5

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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.

 
2.6

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.

Page 6

 
CORPAG SERVICES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

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

 
2.9

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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting 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 reporting date.

 
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.

Page 7

 
CORPAG SERVICES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
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.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 4).

Page 8

 
CORPAG SERVICES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Debtors

2024
2023
£
£


Trade debtors
92,387
112,168

Amounts owed by group undertakings
14,620
48,276

Prepayments and accrued income
2,925
-

109,932
160,444



5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
161,202
48,994

161,202
48,994



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
34
11,596

Other taxation and social security
33,935
23,960

Accruals and deferred income
148,556
125,794

182,525
161,350



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2,000 (2023 - 2,000) Ordinary shares of £1.00 each
2,000
2,000


Page 9

 
CORPAG SERVICES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


Related party transactions

During the year the company maintained loan accounts with fellow companies within the group. The balances due from/(due to) as at 31 December 2024, and shown in total in debtors were as follows:


2024
2023
£
£

Corpag Holding BV
14,620
48,276
14,620
48,276

Group charges for management services, marketing and sales, administrative and support services were charged. 
The loan is not repayable within one year of the balance sheet date. Interest at 4,71% was paid on balances owed of £0 (2022 - £6,008) and interest at 4,71% was received on balances due of £1,470 (2022 - £0). 


9.


Controlling party

The immediate controlling party is deemed to be the directors and shareholders of Corpag Holding B.V. by virtue of their 100% shareholding.

 
Page 10