Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-31 2024-12-31 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.257 2024-01-01 false No description of principal activity 199 false true false 03601214 2024-01-01 2024-12-31 03601214 2023-01-01 2023-12-31 03601214 2024-12-31 03601214 2023-12-31 03601214 c:Director1 2024-01-01 2024-12-31 03601214 d:Buildings d:LongLeaseholdAssets 2024-01-01 2024-12-31 03601214 d:Buildings d:LongLeaseholdAssets 2024-12-31 03601214 d:Buildings d:LongLeaseholdAssets 2023-12-31 03601214 d:MotorVehicles 2024-01-01 2024-12-31 03601214 d:MotorVehicles 2024-12-31 03601214 d:MotorVehicles 2023-12-31 03601214 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 03601214 d:OfficeEquipment 2024-01-01 2024-12-31 03601214 d:OfficeEquipment 2024-12-31 03601214 d:OfficeEquipment 2023-12-31 03601214 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 03601214 d:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 03601214 d:OtherPropertyPlantEquipment 2024-12-31 03601214 d:OtherPropertyPlantEquipment 2023-12-31 03601214 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 03601214 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 03601214 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-12-31 03601214 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 03601214 d:CurrentFinancialInstruments 2024-12-31 03601214 d:CurrentFinancialInstruments 2023-12-31 03601214 d:Non-currentFinancialInstruments 2024-12-31 03601214 d:Non-currentFinancialInstruments 2023-12-31 03601214 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 03601214 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 03601214 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 03601214 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 03601214 d:ShareCapital 2024-12-31 03601214 d:ShareCapital 2023-12-31 03601214 d:CapitalRedemptionReserve 2024-12-31 03601214 d:CapitalRedemptionReserve 2023-12-31 03601214 d:RetainedEarningsAccumulatedLosses 2024-12-31 03601214 d:RetainedEarningsAccumulatedLosses 2023-12-31 03601214 c:FRS102 2024-01-01 2024-12-31 03601214 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 03601214 c:FullAccounts 2024-01-01 2024-12-31 03601214 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 03601214 d:WithinOneYear 2024-12-31 03601214 d:WithinOneYear 2023-12-31 03601214 d:BetweenOneFiveYears 2024-12-31 03601214 d:BetweenOneFiveYears 2023-12-31 03601214 2 2024-01-01 2024-12-31 03601214 d:AcceleratedTaxDepreciationDeferredTax 2024-12-31 03601214 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 03601214 d:TaxLossesCarry-forwardsDeferredTax 2024-12-31 03601214 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 03601214 d:RetirementBenefitObligationsDeferredTax 2024-12-31 03601214 d:RetirementBenefitObligationsDeferredTax 2023-12-31 03601214 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2024-01-01 2024-12-31 03601214 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 03601214 CHARLES NOVACROFT DIRECT LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2024
CHARLES NOVACROFT DIRECT LIMITED REGISTERED NUMBER:03601214
BALANCE SHEET AS AT 31 DECEMBER 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible assets | 5 |  | - |  | 253,492
Tangible assets | 6 |  | 45,494 |  | 92,110
|  |  | 45,494 |  | 345,602
Current assets |  |  |  |  |
Stocks |  | 51,117 |  | 102,659 |
Debtors: amounts falling due within one year | 7 | 1,367,779 |  | 764,452 |
Cash at bank and in hand | 8 | 733,158 |  | 972,398 |
|  | 2,152,054 |  | 1,839,509 |
Creditors: amounts falling due within one year | 9 | (1,476,432) |  | (1,585,924) |
Net current assets |  |  | 675,622 |  | 253,585
Total assets less current liabilities |  |  | 721,116 |  | 599,187
Creditors: amounts falling due after more than one year | 10 |  | (66,667) |  | (251,667)
Net assets |  |  | 654,449 |  | 347,520
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 51 |  | 51
Capital redemption reserve |  |  | 49 |  | 49
Profit and loss account |  |  | 654,349 |  | 347,420
|  |  | 654,449 |  | 347,520
Page 1
CHARLES NOVACROFT DIRECT LIMITED REGISTERED NUMBER:03601214
BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2024 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 her 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 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 by:
................................................ D L Charles
Director
Date: 4 December 2025
The notes on pages 3 to 11 form part of these financial statements. Page 2
CHARLES NOVACROFT DIRECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. | General information
Charles Novacroft Direct Limited is a private company, limited by shares. It is incorporated in England and Wales, registered number 03601214. Its registered office is at Seebeck House, 1 Seebeck Place, Knowhill, Milton Keynes, MK5 8FR. 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 judgment in applying the Company accounting policies (see note 3). 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. Page 3
CHARLES NOVACROFT DIRECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.3 | Research and development
Research expenditure is written off in the year in which it is incurred. Development expenditure incurred on clearly defined projects whose outcome can be assessed with reasonable certainty is capitalised on the Balance Sheet. Amortisation is charged on a 7 year straight line basis so as to allocate the cost of assets less their residual value over their estimated useful lives. Capitalised development expenditure is assessed each year to ensure the circumstances for capitalisation continue to exist. If there are indications that the conditions no longer apply or are doubtful then to the extent it is considered irrecoverable, is written off immediately project by project.
| 2.4 | 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, . Depreciation is provided on the following basis:
|  |  |  | Leasehold improvements | - | 20% Reducing balance
|  |  |  | Motor vehicles | - | 33% Reducing balance
|  |  |  | Office equipment | - | 33% Reducing balance
|  |  |  | Other fixed assets | - | 20% 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.
| 2.5 | 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 first in, first out basis. 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. Page 4
CHARLES NOVACROFT DIRECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 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.
| 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. 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 Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
| 2.10 | 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 5
CHARLES NOVACROFT DIRECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.11 | 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.
| 2.12 | 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.
| 2.13 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.14 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.15 | Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the Balance Sheet. Page 6
CHARLES NOVACROFT DIRECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.16 | 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.
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
In the application of the Company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised and if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods.
| 3.1 | Research and development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their useful economic lives. If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only. Page 7
CHARLES NOVACROFT DIRECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
4. | Employees
| The average monthly number of employees, including directors, during the year was 199 (2023 - 257).
5. | Intangible assets
|  | Development
|  | £
| Cost |
| At 1 January 2024 | 1,876,793
| At 31 December 2024 | 1,876,793
| Amortisation |
| At 1 January 2024 | 1,623,301
| Charge for the year | 253,492
| At 31 December 2024 | 1,876,793
| Net book value |
| At 31 December 2024 | -
| At 31 December 2023 | 253,492
Page 8
CHARLES NOVACROFT DIRECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
6. | Tangible fixed assets
|  | Leasehold improvements | Motor vehicles | Equipment | Other fixed assets | Total
|  | £ | £ | £ | £ | £
| Cost or valuation |  |  |  |  |
| At 1 January 2024 | 8,990 | 25,985 | 988,165 | 22,897 | 1,046,037
| Additions | - | - | 3,198 | - | 3,198
| Disposals | - | - | (128,916) | - | (128,916)
| At 31 December 2024 | 8,990 | 25,985 | 862,447 | 22,897 | 920,319
| Depreciation |  |  |  |  |
| At 1 January 2024 | 4,744 | 25,887 | 907,616 | 15,680 | 953,927
| Charge for the year | 2,997 | 32 | 41,197 | 5,588 | 49,814
| Disposals | - | - | (128,916) | - | (128,916)
| At 31 December 2024 | 7,741 | 25,919 | 819,897 | 21,268 | 874,825
| Net book value |  |  |  |  |
| At 31 December 2024 | 1,249 | 66 | 42,550 | 1,629 | 45,494
| At 31 December 2023 | 4,246 | 98 | 80,549 | 7,217 | 92,110
7. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade debtors | 573,076 | 106,845
| Other debtors | 8,302 | 5,335
| Prepayments and accrued income | 627,334 | 652,272
| Deferred taxation | 159,067 | -
|  | 1,367,779 | 764,452
Page 9
CHARLES NOVACROFT DIRECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
8. | Cash and cash equivalents
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Cash at bank and in hand | 733,158 | 972,398
9. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Bank loans | 210,000 | 260,000
| Trade creditors | 841,626 | 731,916
| Corporation tax | 1,100 | -
| Other taxation and social security | 316,991 | 477,218
| Other creditors | 63,638 | 69,802
| Accruals and deferred income | 43,077 | 46,988
|  | 1,476,432 | 1,585,924
10. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Bank loans | 66,667 | 251,667
| The loan is secured by a fixed and floating charge over the assets of the company.
Page 10
CHARLES NOVACROFT DIRECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
11. | Deferred taxation
|  | 2024
|  | £
| At beginning of year | -
| Charged to profit or loss | 159,067
| At end of year | 159,067
| The deferred tax asset is made up as follows:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Accelerated capital allowances | 3,028 | (41,142)
| Tax losses carried forward | 150,379 | 38,678
| Pension surplus | 5,660 | 2,464
|  | 159,067 | -
| The deferred tax balances are made up as follows:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Accelerated capital allowances | 3,028 | (41,142)
| Timing differences due to provisions | 5,660 | 2,464
| Tax losses carried forward | 136,978 | 38,678
|  | 145,666 | -
12. | Commitments under operating leases
| At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Not later than 1 year | 42,692 | 61,729
| Later than 1 year and not later than 5 years | 48,070 | 113,764
|  | 90,762 | 175,493
Page 11