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 2006.2023-12-01false17No description of principal activity15falsetruefalse 14492529 2023-12-01 2024-11-30 14492529 2022-11-18 2023-11-30 14492529 2024-11-30 14492529 2023-11-30 14492529 c:Director2 2023-12-01 2024-11-30 14492529 d:PlantMachinery 2023-12-01 2024-11-30 14492529 d:PlantMachinery 2024-11-30 14492529 d:PlantMachinery 2023-11-30 14492529 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 14492529 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-12-01 2024-11-30 14492529 d:MotorVehicles 2023-12-01 2024-11-30 14492529 d:MotorVehicles 2024-11-30 14492529 d:MotorVehicles 2023-11-30 14492529 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 14492529 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-12-01 2024-11-30 14492529 d:OfficeEquipment 2023-12-01 2024-11-30 14492529 d:OfficeEquipment 2024-11-30 14492529 d:OfficeEquipment 2023-11-30 14492529 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 14492529 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-12-01 2024-11-30 14492529 d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 14492529 d:LeasedAssetsHeldAsLessee 2023-12-01 2024-11-30 14492529 d:Goodwill 2023-12-01 2024-11-30 14492529 d:Goodwill 2024-11-30 14492529 d:Goodwill 2023-11-30 14492529 d:CurrentFinancialInstruments 2024-11-30 14492529 d:CurrentFinancialInstruments 2023-11-30 14492529 d:Non-currentFinancialInstruments 2024-11-30 14492529 d:Non-currentFinancialInstruments 2023-11-30 14492529 d:CurrentFinancialInstruments d:WithinOneYear 2024-11-30 14492529 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 14492529 d:Non-currentFinancialInstruments d:AfterOneYear 2024-11-30 14492529 d:Non-currentFinancialInstruments d:AfterOneYear 2023-11-30 14492529 d:ShareCapital 2024-11-30 14492529 d:ShareCapital 2023-11-30 14492529 d:SharePremium 2024-11-30 14492529 d:SharePremium 2023-11-30 14492529 d:RetainedEarningsAccumulatedLosses 2024-11-30 14492529 d:RetainedEarningsAccumulatedLosses 2023-11-30 14492529 d:AcceleratedTaxDepreciationDeferredTax 2024-11-30 14492529 d:AcceleratedTaxDepreciationDeferredTax 2023-11-30 14492529 d:TaxLossesCarry-forwardsDeferredTax 2024-11-30 14492529 d:TaxLossesCarry-forwardsDeferredTax 2023-11-30 14492529 c:OrdinaryShareClass1 2023-12-01 2024-11-30 14492529 c:OrdinaryShareClass1 2024-11-30 14492529 c:OrdinaryShareClass1 2023-11-30 14492529 c:FRS102 2023-12-01 2024-11-30 14492529 c:AuditExemptWithAccountantsReport 2023-12-01 2024-11-30 14492529 c:FullAccounts 2023-12-01 2024-11-30 14492529 c:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 14492529 d:Goodwill d:ExternallyAcquiredIntangibleAssets 2023-12-01 2024-11-30 14492529 2 2023-12-01 2024-11-30 14492529 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-11-30 14492529 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-11-30 14492529 e:PoundSterling 2023-12-01 2024-11-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 14492529










PIVOT365 LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2024

 
PIVOT365 LIMITED
 
  
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PIVOT365 LIMITED
FOR THE YEAR ENDED 30 NOVEMBER 2024

You consider that the Company is exempt from an audit for the year ended 30 November 2024. You have acknowledged, on the Balance sheet, your responsibilities for ensuring that the Company keeps adequate accounting records which comply with section 386 of the Companies Act 2006, and for preparing the financial statements which give a true and fair view of the state of affairs of the Company and of its profit or loss for the financial year.

In accordance with your instructions, we have prepared the financial statements on pages 3 - 10 from the accounting records of the Company and on the basis of information and explanations you have given to us.

We have not carried out an audit or any other review, and consequently we do not express any opinion on these financial statements.

  



Hedley Dunk Limited
 
Trinity House
3 Bullace Lane
Dartford
Kent
DA1 1BB
29 August 2025
Page 1

 
PIVOT365 LIMITED
REGISTERED NUMBER: 14492529

BALANCE SHEET
AS AT 30 NOVEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
  
50,000
-

Tangible assets
 5 
156,953
94,805

  
206,953
94,805

Current assets
  

Debtors: amounts falling due within one year
 6 
621,445
791,334

Cash at bank and in hand
 7 
91,494
42,136

  
712,939
833,470

Creditors: amounts falling due within one year
 8 
(690,976)
(843,674)

Net current assets/(liabilities)
  
 
 
21,963
 
 
(10,204)

Total assets less current liabilities
  
228,916
84,601

Creditors: amounts falling due after more than one year
 9 
(90,278)
(44,451)

Provisions for liabilities
  

Deferred tax
  
(24,000)
-

  
 
 
(24,000)
 
 
-

Net assets
  
114,638
40,150


Capital and reserves
  

Called up share capital 
  
111
100

Share premium account
  
50,000
-

Profit and loss account
  
64,527
40,050

  
114,638
40,150


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.






 
Page 2

 
PIVOT365 LIMITED
REGISTERED NUMBER: 14492529

BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 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 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 29 August 2025.




Keith Alan Phillips
Director

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

Page 3

 
PIVOT365 LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1.


General information

Pivot365 Limited is a private company, limited by shares, registered and domiciled in England with the company registration number 14492529. The registered office is Trinity House, 3 Bullace Lane, Dartford, Kent, DA1 1BB and the principal place of business is Innovation House, Discovery Park, Ramsgate Road, Sandwich, CT13 9FF.

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:

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.

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

Operating leases: the Company as lessee

Rentals paid under operating leases are charged 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.

Page 4

 
PIVOT365 LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.4

Interest income

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

 
2.5

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.

 
2.6

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.

 
2.7

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 5

 
PIVOT365 LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.8

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other 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.

 
2.9

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
reducing balance basis
Motor vehicles
-
25%
reducing balance basis
Office equipment
-
30%
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.

 
2.10

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 6

 
PIVOT365 LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 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.

 
2.13

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 directors, during the year was 17 (2023 - 15).


4.


Intangible assets




Goodwill

£



Cost


Additions
50,000



At 30 November 2024

50,000






Net book value



At 30 November 2024
50,000



At 30 November 2023
-



Page 7

 
PIVOT365 LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 December 2023
8,000
73,083
21,256
102,339


Additions
-
103,490
-
103,490



At 30 November 2024

8,000
176,573
21,256
205,829



Depreciation


At 1 December 2023
1,000
4,082
2,452
7,534


Charge for the year on owned assets
1,750
-
5,646
7,396


Charge for the year on financed assets
-
33,946
-
33,946



At 30 November 2024

2,750
38,028
8,098
48,876



Net book value



At 30 November 2024
5,250
138,545
13,158
156,953



At 30 November 2023
7,000
69,001
18,804
94,805

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
138,545
69,001


6.


Debtors

2024
2023
£
£


Trade debtors
541,034
758,722

Other debtors
16,377
-

Prepayments and accrued income
64,034
32,612

621,445
791,334


Page 8

 
PIVOT365 LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

6.Debtors (continued)

In trade debtors are £519,642 (2023 - £715,637) which relates to debts that are subject to an invoice discounting agreement. In other creditors is the amount advanced by the invoice discounting Company of £416730 (2023 - £564,486). The invoice discounting Company has a fixed and floating charge over all of the Company's assets. 


7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
91,494
42,136



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
111,165
112,783

Other taxation and social security
118,716
120,702

Obligations under finance lease and hire purchase contracts
24,318
6,418

Other creditors
416,730
583,736

Accruals and deferred income
20,047
20,035

690,976
843,674



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
90,278
44,451



10.


Deferred taxation




2024


£






Charged to profit or loss
(24,000)



At end of year
(24,000)

Page 9

 
PIVOT365 LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
 
10.Deferred taxation (continued)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(27,300)
-

Tax losses carried forward
3,300
-

(24,000)
-


11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



111 (2023 - 100) Ordinary Shares shares of £1.00 each
111
100


During the year 11 ordinary shares of £1 were issued at a £50,000 premium.


12.


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 £18,461 (2023-  £5,655). Contributions totalling £1,323 (2023 - £831) were payable to the fund at the balance sheet date and are included in creditors.


Page 10