Caseware UK (AP4) 2024.0.164 2024.0.164 2025-03-31 2025-03-31 15 No description of principal activity 2024-04-01 false 15 true true The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04483401 2024-04-01 2025-03-31 04483401 2023-04-01 2024-03-31 04483401 2025-03-31 04483401 2024-03-31 04483401 2023-04-01 04483401 c:Director6 2024-04-01 2025-03-31 04483401 d:Buildings d:ShortLeaseholdAssets 2024-04-01 2025-03-31 04483401 d:Buildings d:ShortLeaseholdAssets 2025-03-31 04483401 d:Buildings d:ShortLeaseholdAssets 2024-03-31 04483401 d:PlantMachinery 2024-04-01 2025-03-31 04483401 d:PlantMachinery 2025-03-31 04483401 d:PlantMachinery 2024-03-31 04483401 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 04483401 d:MotorVehicles 2024-04-01 2025-03-31 04483401 d:MotorVehicles 2025-03-31 04483401 d:MotorVehicles 2024-03-31 04483401 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 04483401 d:FurnitureFittings 2024-04-01 2025-03-31 04483401 d:FurnitureFittings 2025-03-31 04483401 d:FurnitureFittings 2024-03-31 04483401 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 04483401 d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 04483401 d:CurrentFinancialInstruments 2025-03-31 04483401 d:CurrentFinancialInstruments 2024-03-31 04483401 d:CurrentFinancialInstruments d:WithinOneYear 2025-03-31 04483401 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 04483401 d:ShareCapital 2025-03-31 04483401 d:ShareCapital 2024-03-31 04483401 d:RetainedEarningsAccumulatedLosses 2025-03-31 04483401 d:RetainedEarningsAccumulatedLosses 2024-03-31 04483401 c:FRS102 2024-04-01 2025-03-31 04483401 c:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 04483401 c:FullAccounts 2024-04-01 2025-03-31 04483401 c:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 04483401 d:AcceleratedTaxDepreciationDeferredTax 2025-03-31 04483401 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 04483401 e:PoundSterling 2024-04-01 2025-03-31 iso4217:GBP xbrli:pure

Registered number: 04483401 SSP HATS LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 MARCH 2025
SSP HATS LIMITED REGISTERED NUMBER: 04483401 STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2025
|  | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 48,932 |  | 57,567
|  |  | 48,932 |  | 57,567
Current assets |  |  |  |  |
Stocks | 5 | 1,332,800 |  | 1,920,482 |
Debtors: amounts falling due within one year | 6 | 2,094,065 |  | 2,316,489 |
Cash at bank and in hand | 7 | 88,105 |  | 171,897 |
|  | 3,514,970 |  | 4,408,868 |
Creditors: amounts falling due within one year | 8 | (756,622) |  | (1,141,159) |
Net current assets |  |  | 2,758,348 |  | 3,267,709
Total assets less current liabilities |  |  | 2,807,280 |  | 3,325,276
Provisions for liabilities |  |  |  |  |
Deferred tax | 9 | (9,297) |  | (10,938) |
|  |  | (9,297) |  | (10,938)
Net assets |  |  | 2,797,983 |  | 3,314,338
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 105,001 |  | 105,001
Profit and loss account |  |  | 2,692,982 |  | 3,209,337
|  |  | 2,797,983 |  | 3,314,338
Page 1
SSP HATS LIMITED REGISTERED NUMBER: 04483401 STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 MARCH 2025 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 comprehensive income 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 by:
Sarah Louise Fennell
Director
Date: 27 November 2025
The notes on pages 3 to 10 form part of these financial statements. Page 2
SSP HATS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. | General information
SSP Hats Limited is a private company limited by shares and incorporated in England. The registered office is Heath Road, Skegness, Lincolnshire, PE25 3ST. 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. Page 3
SSP HATS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.3 | 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:
|  |  |  | Short-term leasehold property | - | Over the life of the lease
|  |  |  | Plant and machinery | - | 15% reducing balance
|  |  |  | Motor vehicles | - | 15% reducing balance
|  |  |  | Fixtures, fittings and equipment | - | 15% - 33% reducing balance
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.
| 2.4 | 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.
| 2.5 | 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 weighted average basis. Work in progress and finished goods include labour and attributable overheads. At each reporting 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.
| 2.6 | 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. Page 4
SSP HATS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.7 | 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.
| 2.8 | 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 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.
| 2.9 | 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. Page 5
SSP HATS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.10 | Share-based payments
Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each reporting date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition. The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the Company keeping the scheme open or the employee maintaining any contributions required by the scheme). Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period. Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.
| 2.11 | 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.
| 2.12 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
3. | Employees
| The average monthly number of employees, including directors, during the year was 15 (2024 - 15).
Page 6
SSP HATS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
4. | Tangible fixed assets
|  | Short-term leasehold property | Plant and machinery | Motor vehicles | Fixtures and fittings | Total
|  | £ | £ | £ | £ | £
| Cost or valuation |  |  |  |  |
| At 1 April 2024 | 76,251 | 64,281 | 24,783 | 174,213 | 339,528
| Additions | - | 479 | - | 1,075 | 1,554
| Disposals | - | - | - | (2,327) | (2,327)
| At 31 March 2025 | 76,251 | 64,760 | 24,783 | 172,961 | 338,755
| Depreciation |  |  |  |  |
| At 1 April 2024 | 48,191 | 53,743 | 24,469 | 155,557 | 281,960
| Charge for the year on owned assets | 3,168 | 1,619 | 47 | 5,324 | 10,158
| Disposals | - | - | - | (2,295) | (2,295)
| At 31 March 2025 | 51,359 | 55,362 | 24,516 | 158,586 | 289,823
| Net book value |  |  |  |  |
| At 31 March 2025 | 24,892 | 9,398 | 267 | 14,375 | 48,932
| At 31 March 2024 | 28,060 | 10,538 | 314 | 18,655 | 57,567
5. | Stocks
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Finished goods and goods for resale | 1,332,800 | 1,920,482
|  | 1,332,800 | 1,920,482
Page 7
SSP HATS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 50,541 | 96,933
| Amounts owed by group undertakings | 1,866,060 | 1,869,060
| Other debtors | - | 15,075
| Prepayments and accrued income | 177,464 | 335,421
|  | 2,094,065 | 2,316,489
7. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 88,105 | 171,897
|  | 88,105 | 171,897
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 472,177 | 698,161
| Trade creditors | 156,938 | 357,095
| Other taxation and social security | 49,522 | 14,300
| Other creditors | 2,424 | 2,364
| Accruals and deferred income | 75,561 | 69,239
|  | 756,622 | 1,141,159
| The stock financing facility is secured on the assets concerned.
Page 8
SSP HATS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
9. | Deferred taxation
|  | 2025 | 2024
|  | £ | £
| At beginning of year | (10,938) | (8,617)
| Charged to profit or loss | 1,641 | (2,321)
| At end of year | (9,297) | (10,938)
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accelerated capital allowances | (9,297) | (10,938)
|  | (9,297) | (10,938)
10. | Contingent liabilities
At 31 March 2025, HSBC Plc held a fixed and floating charge over the assets of the company, in relation to liabilities that may become due on certain commercial facilities provided by the bank. A second fixed and floating charge covering all assets of the company is in favour of Cressney Limited in respect of borrowings. The company has provided a guarantee to its parent company in respect of certain secured loan notes.
11. | Share-based payments
The company's parent, SSP Hats Holdings Limited, operates two EMI based equity settled share option schemes for certain employees of SSP Hats Limited, none of which have been exercised as at the date of signing the financial statements. Options are forfeited if the employee leaves the group before the options vest. 5,000 Ordinary Shares of £0.10 each have been offered at an option price of £0.10 per share exercisable for a period of 10 years after the date of grant, which was 11 August 2014 to 3 employees.
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 £9,962 (2024: £9,894). Page 9
SSP HATS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
13. | Ultimate parent company and controlling party
The company is a wholly owned subsidiary of SSP Hats Holdings Limited, which is the ultimate parent company and controlling party of the company.
14. | Related party transactions
| Included within administrative expenses are management fees of £18,000 (2024: £18,000) charged by SSP Hats Holdings Limited.
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