Caseware UK (AP4) 2024.0.164 2024.0.164 2025-05-31 2025-05-31 2024-06-01 false 71111 - Architectural activities true false 3 3 true The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10766396 2024-06-01 2025-05-31 10766396 2023-06-01 2024-05-31 10766396 2025-05-31 10766396 2024-05-31 10766396 2023-06-01 10766396 c:Director1 2024-06-01 2025-05-31 10766396 d:MotorVehicles 2024-06-01 2025-05-31 10766396 d:MotorVehicles 2025-05-31 10766396 d:MotorVehicles 2024-05-31 10766396 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-06-01 2025-05-31 10766396 d:FurnitureFittings 2024-06-01 2025-05-31 10766396 d:FurnitureFittings 2025-05-31 10766396 d:FurnitureFittings 2024-05-31 10766396 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-06-01 2025-05-31 10766396 d:OfficeEquipment 2024-06-01 2025-05-31 10766396 d:OfficeEquipment 2025-05-31 10766396 d:OfficeEquipment 2024-05-31 10766396 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-06-01 2025-05-31 10766396 d:ComputerEquipment 2024-06-01 2025-05-31 10766396 d:ComputerEquipment 2025-05-31 10766396 d:ComputerEquipment 2024-05-31 10766396 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-06-01 2025-05-31 10766396 d:OwnedOrFreeholdAssets 2024-06-01 2025-05-31 10766396 d:Goodwill 2024-06-01 2025-05-31 10766396 d:Goodwill 2025-05-31 10766396 d:Goodwill 2024-05-31 10766396 d:CurrentFinancialInstruments 2025-05-31 10766396 d:CurrentFinancialInstruments 2024-05-31 10766396 d:Non-currentFinancialInstruments 2025-05-31 10766396 d:Non-currentFinancialInstruments 2024-05-31 10766396 d:CurrentFinancialInstruments d:WithinOneYear 2025-05-31 10766396 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 10766396 d:Non-currentFinancialInstruments d:AfterOneYear 2025-05-31 10766396 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 10766396 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2025-05-31 10766396 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-05-31 10766396 d:ShareCapital 2025-05-31 10766396 d:ShareCapital 2024-05-31 10766396 d:RetainedEarningsAccumulatedLosses 2025-05-31 10766396 d:RetainedEarningsAccumulatedLosses 2024-05-31 10766396 d:AcceleratedTaxDepreciationDeferredTax 2025-05-31 10766396 d:AcceleratedTaxDepreciationDeferredTax 2024-05-31 10766396 d:TaxLossesCarry-forwardsDeferredTax 2025-05-31 10766396 d:TaxLossesCarry-forwardsDeferredTax 2024-05-31 10766396 c:OrdinaryShareClass1 2024-06-01 2025-05-31 10766396 c:OrdinaryShareClass1 2025-05-31 10766396 c:OrdinaryShareClass1 2024-05-31 10766396 c:OrdinaryShareClass2 2024-06-01 2025-05-31 10766396 c:OrdinaryShareClass2 2025-05-31 10766396 c:OrdinaryShareClass2 2024-05-31 10766396 c:FRS102 2024-06-01 2025-05-31 10766396 c:AuditExempt-NoAccountantsReport 2024-06-01 2025-05-31 10766396 c:FullAccounts 2024-06-01 2025-05-31 10766396 c:PrivateLimitedCompanyLtd 2024-06-01 2025-05-31 10766396 d:HirePurchaseContracts d:WithinOneYear 2025-05-31 10766396 d:HirePurchaseContracts d:WithinOneYear 2024-05-31 10766396 d:HirePurchaseContracts d:BetweenOneFiveYears 2025-05-31 10766396 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-05-31 10766396 2 2024-06-01 2025-05-31 10766396 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2025-05-31 10766396 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-05-31 10766396 d:LeasedAssetsHeldAsLessee 2025-05-31 10766396 d:LeasedAssetsHeldAsLessee 2024-05-31 10766396 d:Goodwill d:OwnedIntangibleAssets 2024-06-01 2025-05-31 10766396 e:PoundSterling 2024-06-01 2025-05-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 10766396 FOLIAT ASSOCIATES LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
FOLIAT ASSOCIATES LIMITED REGISTERED NUMBER: 10766396 BALANCE SHEET AS AT 31 MAY 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible assets | 4 |  | - |  | 50,000
Tangible assets | 5 |  | 15,453 |  | 28,792
|  |  | 15,453 |  | 78,792
Current assets |  |  |  |  |
Stocks | 6 | 497,084 |  | 710,482 |
Debtors: amounts falling due within one year | 7 | 63,417 |  | 131,895 |
Cash at bank and in hand | 8 | 671,565 |  | - |
|  | 1,232,066 |  | 842,377 |
Creditors: amounts falling due within one year | 9 | (695,085) |  | (763,214) |
Net current assets |  |  | 536,981 |  | 79,163
Total assets less current liabilities |  |  | 552,434 |  | 157,955
Creditors: amounts falling due after more than one year | 10 |  | - |  | (18,260)
Deferred tax | 13 | (128) |  | (3,208) |
|  |  | (128) |  | (3,208)
Net assets |  |  | 552,306 |  | 136,487
Capital and reserves |  |  |  |  |
Called up share capital | 14 |  | 1,000 |  | 1,000
Profit and loss account |  |  | 551,306 |  | 135,487
|  |  | 552,306 |  | 136,487
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 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. Page 1
FOLIAT ASSOCIATES LIMITED REGISTERED NUMBER: 10766396 BALANCE SHEET (CONTINUED) AS AT 31 MAY 2025 The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
D G Franklin
Director
Date: 9 April 2026
The notes on pages 3 to 13 form part of these financial statements. Page 2
FOLIAT ASSOCIATES LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MAY 2025
1. | General information
Foliat Associates Limited is a private company, limited by share capital and incorporated in England and Wales. The company's registered office address is The Vicarage, Chilton Foliat, Hungerford, Berkshire, RG17 0TF. 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 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: 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 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.4 | 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.
| 2.5 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred. Page 3
FOLIAT ASSOCIATES LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MAY 2025 2.Accounting policies (continued)
| 2.6 | 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.
| 2.7 | 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 Comprehensive Income 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.
| 2.8 | 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. Page 4
FOLIAT ASSOCIATES LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MAY 2025 2.Accounting policies (continued)
| 2.8 | Tangible fixed assets (continued)
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:
|  |  |  | Motor vehicles | - | 25% |
|  |  |  | Fixtures and fittings | - | 25% |
|  |  |  | Office equipment | - | 25% |
|  |  |  | Computer equipment | - | 25% |
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.
| 2.9 | 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.
| 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.
| 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. Page 5
FOLIAT ASSOCIATES LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MAY 2025 2.Accounting policies (continued)
| 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. Page 6
FOLIAT ASSOCIATES LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MAY 2025 2.Accounting policies (continued)
| 2.14 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Basic financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
3. | Employees
| The average monthly number of employees, including directors, during the year was 3 (2024 - 3).
Page 7
FOLIAT ASSOCIATES LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MAY 2025
4. | Intangible assets
|  | Goodwill
|  | £
| Cost |
| At 1 June 2024 | 400,000
| At 31 May 2025 | 400,000
| Amortisation |
| At 1 June 2024 | 350,000
| Charge for the year | 50,000
| At 31 May 2025 | 400,000
| Net book value |
| At 31 May 2025 | -
| At 31 May 2024 | 50,000
Page 8
FOLIAT ASSOCIATES LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MAY 2025
5. | Tangible fixed assets
|  | Motor vehicles | Fixtures and fittings | Office equipment | Computer equipment | Total
|  | £ | £ | £ | £ | £
| Cost or valuation |  |  |  |  |
| At 1 June 2024 | 62,853 | 4,476 | 272 | 11,078 | 78,679
| Additions | - | - | - | 683 | 683
| At 31 May 2025 | 62,853 | 4,476 | 272 | 11,761 | 79,362
| Depreciation |  |  |  |  |
| At 1 June 2024 | 36,337 | 4,026 | 272 | 9,252 | 49,887
| Charge for the year | 13,259 | 150 | - | 613 | 14,022
| At 31 May 2025 | 49,596 | 4,176 | 272 | 9,865 | 63,909
| Net book value |  |  |  |  |
| At 31 May 2025 | 13,257 | 300 | - | 1,896 | 15,453
| At 31 May 2024 | 26,516 | 450 | - | 1,826 | 28,792
| The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Motor vehicles | 13,257 | 26,516
|  | 13,257 | 26,516
Page 9
FOLIAT ASSOCIATES LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MAY 2025
6. | Stocks
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Work in progress | 497,084 | 710,482
|  | 497,084 | 710,482
7. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 43,067 | 91,030
| Other debtors | 20,350 | 40,865
|  | 63,417 | 131,895
8. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 671,565 | -
| Less: bank overdrafts | - | (88,729)
|  | 671,565 | (88,729)
9. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank overdrafts | - | 88,729
| Bank loans | 10,000 | 10,000
| Trade creditors | 44,079 | 23,748
| Corporation tax | 158,988 | 89,934
| Other taxation and social security | 79,159 | -
| Obligations under finance lease and hire purchase contracts | 5,759 | 5,884
| Other creditors | 226,091 | 506,090
| Accruals and deferred income | 171,009 | 38,829
|  | 695,085 | 763,214
Page 10
FOLIAT ASSOCIATES LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MAY 2025
10. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | - | 10,000
| Net obligations under finance leases and hire purchase contracts | - | 8,260
|  | - | 18,260
| Obligations under finance lease and hire purchase contracts are secured against the assets to which they relate.
11. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts falling due within one year |  |
| Bank loans | 10,000 | 10,000
| Amounts falling due 1-2 years |  |
| Bank loans | - | 10,000
|  | 10,000 | 20,000
12. | Hire purchase and finance leases
| Minimum lease payments under hire purchase fall due as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Within one year | 5,759 | 5,884
| Between 1-5 years | - | 8,260
|  | 5,759 | 14,144
Page 11
FOLIAT ASSOCIATES LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MAY 2025
13. | Deferred taxation
|  | 2025 | 2024
|  | £ | £
| At beginning of year | (3,208) | (5,389)
| Charged to profit or loss | 3,080 | 2,181
| At end of year | (128) | (3,208)
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Fixed asset differences | (2,708) | (5,788)
| Short term timing differences | 2,580 | 2,580
|  | (128) | (3,208)
14. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 750 (2024 - 750) Ordinary A shares of £1.00 each | 750 | 750
|  | 250 (2024 - 250) Ordinary B shares of £1.00 each | 250 | 250
|  |  | 1,000 | 1,000
15. | Related party transactions
| At the year end the company owed £27,507 (2024: £341,401) to its director. This amount is interest free and repayable upon demand. At the year end the company owed £93,728 (2024: £114,128) to its shareholders. These amounts are interest free and repayable upon demand. At the year end the company was owed £20,350 (2024: £13,200) by MCB Project Services Limited, a company under common control. During the year sales of £27,068 (2024: £24,440) were made to A6 Management Limited, a company under common control, at the year end there was no outstanding balance. During the year sales of £16,133 (2024: £54,196) were made to Duntshill Limited, a company under common control, at the year end there was an outstanding balance of £23,372 (2024: £16,032)
Page 12
FOLIAT ASSOCIATES LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MAY 2025
16. | Controlling party
The company is controlled by its director, by virtue of his majority shareholding.
Page 13