Caseware UK (AP4) 2025.0.111 2025.0.111 2025-04-30 2025-04-30 true true 2024-05-01 false Placement of temporary employees 14 13 false 04677451 2024-05-01 2025-04-30 04677451 2023-05-01 2024-04-30 04677451 2025-04-30 04677451 2024-04-30 04677451 c:Director3 2024-05-01 2025-04-30 04677451 d:OfficeEquipment 2024-05-01 2025-04-30 04677451 d:OfficeEquipment 2025-04-30 04677451 d:OfficeEquipment 2024-04-30 04677451 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-05-01 2025-04-30 04677451 d:ComputerEquipment 2024-05-01 2025-04-30 04677451 d:ComputerEquipment 2025-04-30 04677451 d:ComputerEquipment 2024-04-30 04677451 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-05-01 2025-04-30 04677451 d:OwnedOrFreeholdAssets 2024-05-01 2025-04-30 04677451 d:CurrentFinancialInstruments 2025-04-30 04677451 d:CurrentFinancialInstruments 2024-04-30 04677451 d:Non-currentFinancialInstruments 2025-04-30 04677451 d:Non-currentFinancialInstruments 2024-04-30 04677451 d:CurrentFinancialInstruments d:WithinOneYear 2025-04-30 04677451 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 04677451 d:Non-currentFinancialInstruments d:AfterOneYear 2025-04-30 04677451 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 04677451 d:ShareCapital 2025-04-30 04677451 d:ShareCapital 2024-04-30 04677451 d:CapitalRedemptionReserve 2025-04-30 04677451 d:CapitalRedemptionReserve 2024-04-30 04677451 d:RetainedEarningsAccumulatedLosses 2025-04-30 04677451 d:RetainedEarningsAccumulatedLosses 2024-04-30 04677451 c:FRS102 2024-05-01 2025-04-30 04677451 c:Audited 2024-05-01 2025-04-30 04677451 c:FullAccounts 2024-05-01 2025-04-30 04677451 c:PrivateLimitedCompanyLtd 2024-05-01 2025-04-30 04677451 d:WithinOneYear 2025-04-30 04677451 d:WithinOneYear 2024-04-30 04677451 d:BetweenOneFiveYears 2025-04-30 04677451 d:BetweenOneFiveYears 2024-04-30 04677451 c:SmallCompaniesRegimeForAccounts 2024-05-01 2025-04-30 04677451 2 2024-05-01 2025-04-30 04677451 e:PoundSterling 2024-05-01 2025-04-30 iso4217:GBP xbrli:pure

Registered number: 04677451 SIGNET RESOURCES LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
SIGNET RESOURCES LIMITED REGISTERED NUMBER: 04677451 BALANCE SHEET AS AT 30 APRIL 2025
|  |  |  | As restated
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 9,894 |  | 6,710
|  |  | 9,894 |  | 6,710
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 5 | 1,245,863 |  | 1,166,565 |
Cash at bank and in hand |  | 66,008 |  | 216,212 |
|  | 1,311,871 |  | 1,382,777 |
Current liabilities |  |  |  |  |
Creditors: amounts falling due within one year | 6 | (421,277) |  | (321,497) |
Net current assets |  |  | 890,594 |  | 1,061,280
Total assets less current liabilities |  |  | 900,488 |  | 1,067,990
Creditors: amounts falling due after more than one year | 7 |  | (1,667) |  | (11,667)
Provisions for liabilities |  |  |  |  |
Deferred tax |  | - |  | (1,537) |
|  |  | - |  | (1,537)
Net assets |  |  | 898,821 |  | 1,054,786
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 736 |  | 736
Capital redemption reserve |  |  | 394 |  | 394
Profit and loss account |  |  | 897,691 |  | 1,053,656
|  |  | 898,821 |  | 1,054,786
Page 1
SIGNET RESOURCES LIMITED REGISTERED NUMBER: 04677451 BALANCE SHEET (CONTINUED) AS AT 30 APRIL 2025 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:
................................................ J P H Stewart
Director
Date: 8 June 2026
The notes on pages 3 to 11 form part of these financial statements. Page 2
SIGNET RESOURCES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
1. | General information
The Company is a private company limited by shares, incorporated, domiciled and registered in England and Wales. The address of the registered office is Waterfront House, 35 Station Street, Nottingham, NG2 3DQ. The principal activity of the business was the placement of temporary employees. 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 Company's functional and presentational currency is British Pound Sterling (£). The following principal accounting policies have been applied:
| 2.2 | Going concern
After reviewing the Company's forecasts and projections, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company incurred a loss in the year ended 30 April 2025. However, trading performance has improved since the year end and management accounts for the year ending 30 April 2026 indicate that the Company has returned to profitability. The Company also maintains a positive working capital position. The directors have prepared forecasts covering a period of at least 12 months from the date of approval of the financial statements. These forecasts demonstrate that the Company is expected to remain profitable and maintain sufficient liquidity throughout the assessment period. Furthermore, letters of support have been provided between fellow group entities, confirming their commitment to provide financial support to each other, both operationally and financially, where required. This includes confirmation of not recalling intercompany balances until sufficient resources are available to do so and making available financial resources to assist with working capital requirements to enable the company to meet their obligations as they fall due. Accordingly, the directors consider it appropriate to prepare the financial statements on the going concern basis. Page 3
SIGNET RESOURCES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 2.Accounting policies (continued)
| 2.3 | 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. Turnover represents the amounts derived from services invoices to external customers at invoiced amounts exclusive of value added tax. Turnover from permanent placements is based on a percentage of the candidate's remuneration package, and is derived from both retained assignments (income recognised on completion of defined stages of work) and non-retained assignments (income recognised at the date which the candidate starts their position in employment at the customer). Turnover from temporary placements is recognised over the period that the temporary staff are provided. Turnover represents the amounts billed for services of temporary staff, including salary costs of those staff.
| 2.4 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to the Statement of Comprehensive Income on a straight-line basis over the lease term.
| 2.5 | Interest income
Interest income is recognised in the Statement of Comprehensive Income using the effective interest method.
| 2.6 | Finance costs
Finance costs are charged to the Statement of Comprehensive Income 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 4
SIGNET RESOURCES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 2.Accounting policies (continued)
| 2.7 | Borrowing costs
All borrowing costs are recognised in the Statement of Comprehensive Income in the year in which they are incurred.
| 2.8 | 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 the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in other creditors as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
| 2.9 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income 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
SIGNET RESOURCES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 2.Accounting policies (continued)
| 2.10 | 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 | - | 33% | straight line
|  |  |  | Computer equipment | - | 33% | 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 the Statement of Comprehensive Income.
| 2.11 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at transaction price, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.12 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice. 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.
| 2.13 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at transaction price, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 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. Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Page 6
SIGNET RESOURCES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 2.Accounting policies (continued)
| 2.14 | Financial instruments (continued)
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 the Statement of Comprehensive Income) 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. Other financial assets Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the Statement of Comprehensive Income. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment. Impairment of financial assets At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income. Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate. If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the Statement of Comprehensive Income. 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. Page 7
SIGNET RESOURCES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 2.Accounting policies (continued)
| 2.14 | Financial instruments (continued)
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 the Statement of Comprehensive Income). 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. Other financial instruments Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the Statement of Comprehensive Income. They are subsequently measured at fair value with changes in the Statement of Comprehensive Income. Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the Statement of Comprehensive Income. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy. Derecognition of financial assets Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained. Derecognition of financial liabilities Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
3. | Employees
| The average monthly number of temporary employees during the year was 23 (2024 - 30). The average monthly number of permanent employees, including directors, during the year was 14 (2024 - 13).
Page 8
SIGNET RESOURCES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
4. | Tangible fixed assets
|  | Office equipment | Computer equipment | Total
|  | £ | £ | £
| Cost or valuation |  |  |
| At 1 May 2024 | 7,654 | 2,655 | 10,309
| Additions | 4,007 | 4,950 | 8,957
| At 30 April 2025 | 11,661 | 7,605 | 19,266
| Depreciation |  |  |
| At 1 May 2024 | 3,005 | 594 | 3,599
| Charge for the year | 3,664 | 2,109 | 5,773
| At 30 April 2025 | 6,669 | 2,703 | 9,372
| Net book value |  |  |
| At 30 April 2025 | 4,992 | 4,902 | 9,894
| At 30 April 2024 | 4,649 | 2,061 | 6,710
5. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 499,414 | 442,193
| Amounts owed by group undertakings | 694,580 | 709,059
| Other debtors | 11,064 | 15,313
| Prepayments and accrued income | 25,605 | -
| Deferred taxation | 15,200 | -
|  | 1,245,863 | 1,166,565
| All debts are due within one year. Amounts owed by group undertakings are unsecured, interest free and repayable on demand.
Page 9
SIGNET RESOURCES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 10,000 | 10,000
| Trade creditors | 23,729 | 33,151
| Corporation tax | - | 3,022
| Other taxation and social security | 186,130 | 144,706
| Other creditors | 142,169 | 85,584
| Accruals and deferred income | 59,249 | 45,034
|  | 421,277 | 321,497
| A prior year adjustment has been processed as detailed in note 8 of these financial statements.
7. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 1,667 | 11,667
|  | 1,667 | 11,667
8. | Prior year adjustment
A prior year adjustment has been recognised in these financial statements. The adjustment relates to the timing of revenue recognition for certain permanent placement fees, where revenue had previously been recognised before the company's performance obligations had been satisfied in accordance with its revenue recognition policy. The adjustment has resulted in accruals and deferred income increasing from £Nil to £45,034, turnover decreasing from £3,378,750 to £3,364,716 and profit decreasing from £9,478 to a loss of £4,556. Opening reserves as at 1 May 2023 have reduced from £1,089,212 to £1,058,212 and closing reserves as at 30 April 2024 have reduced from £1,098,690 to £1,053,656.
9. | Pension commitments
The Company operates a defined contribution 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 £37,984 (2024: £40,068). Contributions totalling £3,218 (2024: £5,285) were payable to the fund at the balance sheet date and are included within other creditors. Page 10
SIGNET RESOURCES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
10. | Commitments under operating leases
| At 30 April 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Not later than 1 year | 41,530 | 37,205
| Later than 1 year and not later than 5 years | - | 32,837
|  | 41,530 | 70,042
11. | Related party transactions
| No transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A.
12. | Controlling party
The immediate parent company is Macildowie Associates Limited, a company incorporated in England, with a registered office at Waterfront House, Station Street, Nottingham, NG2 3DQ. The ultimate parent company is Greenmount Investments Limited, a company incorporated in Northern Ireland, with a registered office at c/o McGuire & Farry Limited, Emerson House, 14b Ballynahinch, Carryduff, Belfast, BT8 8DN. The only group in which the results of the Company are consolidated is that headed by Greenmount Investments Limited. The consolidated accounts of this Group are available to the public at Companies House.
13. | Auditor's information
The auditor's report on the financial statements for the year ended 30 April 2025 was unqualified. The audit report was signed on 8 June 2026 by Shelley Harvey FCCA (Senior Statutory Auditor) on behalf of MHA. MHA is the trading name of MHA Audit Services LLP, a limited liability partnership registered in England and Wales (registered number OC455542).
Page 11