Caseware UK (AP4) 2024.0.164 2024.0.164 2024-11-302024-11-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.12023-12-01falseNo description of principal activity1falsetruefalse 07111109 2023-12-01 2024-11-30 07111109 2022-12-01 2023-11-30 07111109 2024-11-30 07111109 2023-11-30 07111109 2022-12-01 07111109 c:Director1 2023-12-01 2024-11-30 07111109 d:OfficeEquipment 2023-12-01 2024-11-30 07111109 d:OfficeEquipment 2024-11-30 07111109 d:OfficeEquipment 2023-11-30 07111109 d:ComputerEquipment 2023-12-01 2024-11-30 07111109 d:ComputerEquipment 2024-11-30 07111109 d:ComputerEquipment 2023-11-30 07111109 d:CurrentFinancialInstruments 2024-11-30 07111109 d:CurrentFinancialInstruments 2023-11-30 07111109 d:Non-currentFinancialInstruments 2024-11-30 07111109 d:Non-currentFinancialInstruments 2023-11-30 07111109 d:CurrentFinancialInstruments d:WithinOneYear 2024-11-30 07111109 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 07111109 d:UKTax 2023-12-01 2024-11-30 07111109 d:UKTax 2022-12-01 2023-11-30 07111109 d:ShareCapital 2024-11-30 07111109 d:ShareCapital 2023-11-30 07111109 d:ShareCapital 2022-12-01 07111109 d:RetainedEarningsAccumulatedLosses 2023-12-01 2024-11-30 07111109 d:RetainedEarningsAccumulatedLosses 2024-11-30 07111109 d:RetainedEarningsAccumulatedLosses 2022-12-01 2023-11-30 07111109 d:RetainedEarningsAccumulatedLosses 2023-11-30 07111109 d:RetainedEarningsAccumulatedLosses 2022-12-01 07111109 c:OrdinaryShareClass1 2023-12-01 2024-11-30 07111109 c:OrdinaryShareClass1 2024-11-30 07111109 c:OrdinaryShareClass1 2023-11-30 07111109 c:FRS102 2023-12-01 2024-11-30 07111109 c:AuditExempt-NoAccountantsReport 2023-12-01 2024-11-30 07111109 c:FullAccounts 2023-12-01 2024-11-30 07111109 c:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 07111109 d:AcceleratedTaxDepreciationDeferredTax 2024-11-30 07111109 d:AcceleratedTaxDepreciationDeferredTax 2023-11-30 07111109 2 2023-12-01 2024-11-30 07111109 e:PoundSterling 2023-12-01 2024-11-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number:  07111109














FS COMMERCIAL LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024


 
FS COMMERCIAL LIMITED
REGISTERED NUMBER: 07111109

BALANCE SHEET
AS AT 30 NOVEMBER 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due after more than one year
 6 
-
115,000

Debtors: amounts falling due within one year
 6 
134,274
240,506

Cash at bank and in hand
 7 
486
8,956

  
134,760
364,462

Creditors: amounts falling due within one year
 8 
(421,546)
(110,217)

Net current (liabilities)/assets
  
 
 
(286,786)
 
 
254,245

Total assets less current liabilities
  
(286,786)
254,245

  

Net (liabilities)/assets
  
(286,786)
254,245


Capital and reserves
  

Called up share capital 
 10 
1
1

Profit and loss account
  
(286,787)
254,244

  
(286,786)
254,245


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 the 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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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.





 
Page 1

 
FS COMMERCIAL LIMITED
REGISTERED NUMBER: 07111109
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 August 2025.



P C Hudson
Director

The notes on pages 4 to 10 form part of these financial statements.

Page 2

 
FS COMMERCIAL LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2024


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 December 2023
1
254,244
254,245



Loss for the year
-
(541,031)
(541,031)


At 30 November 2024
1
(286,787)
(286,786)


The notes on pages 4 to 10 form part of these financial statements.


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 December 2022
1
327,424
327,425



Loss for the year
-
(73,180)
(73,180)


At 30 November 2023
1
254,244
254,245


The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
FS COMMERCIAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1.


General information

The entity is a private limited liability company, limited by shares registered in England and Wales within the United Kingdom.  The registered office is Helix 3rd Floor, Edmund Street, Liverpool, England, L3 9NY and the company number is 07111109.
These financial statements are for FS Commercial Limited as a individual single company entity only.

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 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 judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Interest income

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

 
2.3

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.


Page 4

 
FS COMMERCIAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.4

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.

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.

 
2.5

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, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
5 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.

 
2.6

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.

 
2.7

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.

 
2.8

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.

Page 5

 
FS COMMERCIAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.9

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.


Employees

The average monthly number of employees, including the director, during the year was as follows:


        2024
        2023
            No.
            No.







Directors
1
1

Page 6

 
FS COMMERCIAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

4.


Taxation


2024
2023
£
£

Corporation tax


Adjustments in respect of previous periods
-
(17,449)

-
(17,449)


Deferred tax


Origination and reversal of timing differences
(900)
(6,400)


(900)
(23,849)

Factors affecting tax charge for the year

The tax assessed for the year is the same as (2023 - the same as) the standard rate of corporation tax in the UK of 25% (2023 - 23.01%) as set out below:

2024
2023
£
£


Loss on ordinary activities before tax
(541,931)
(97,029)


Loss on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 23.01%)
(135,483)
(22,326)

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
134,556
531

Utilisation of tax losses
-
21,167

Adjustments to tax charge in respect of prior periods
-
(11,974)

Effect of a change in tax rate leading to an increase (decrease) in taxation
(900)
(11,852)

Unrelieved tax losses carried forward
927
605

Total tax charge for the year
(900)
(23,849)


Factors that may affect future tax charges

The company has £6,129 (2023: £2,423) of tax losses available to carry forward.

Page 7

 
FS COMMERCIAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

5.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 December 2023
8,599
51,830
60,429



At 30 November 2024

8,599
51,830
60,429



Depreciation


At 1 December 2023
8,599
51,830
60,429



At 30 November 2024

8,599
51,830
60,429



Net book value



At 30 November 2024
-
-
-



At 30 November 2023
-
-
-

Page 8

 
FS COMMERCIAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

6.


Debtors

2024
2023
£
£

Due after more than one year

Amounts due from associated companies
-
115,000

-
115,000


2024
2023
£
£

Due within one year

Trade debtors
-
89,200

Other debtors
109,074
117,982

Prepayments
-
9,024

Deferred taxation
25,200
24,300

134,274
240,506



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
486
8,956

486
8,956



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
6,392
12,284

Other creditors
415,154
97,933

421,546
110,217


Page 9

 
FS COMMERCIAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

9.


Deferred taxation




2024


£






At beginning of year
24,300


Charged to profit or loss
900



At end of year
25,200

The deferred tax asset is made up as follows:

2024
2023
£
£


Accelerated capital allowances
25,200
24,300

25,200
24,300


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) Ordinary share of £1.00
1
1



11.


Related party transactions

Included within debtors is an amount of £18,744 (2023: £115,000) owed from related parties.
Included within creditors is an amount of £320,874 (2023: £nil) owed to related parties.
All transactions were conducted at an arms length basis.


12.


Controlling party

The ultimate controlling party is P C Hudson by virtue of his 100% shareholding in the company.

 
Page 10