ACCOUNTS - Final Accounts

Caseware UK (AP4) 2022.0.179 2022.0.179 2022-11-302022-11-30false2021-12-01No description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07449288 2021-12-01 2022-11-30 07449288 2020-12-01 2021-11-30 07449288 2022-11-30 07449288 2021-11-30 07449288 c:Director1 2021-12-01 2022-11-30 07449288 d:ComputerEquipment 2021-12-01 2022-11-30 07449288 d:ComputerEquipment 2022-11-30 07449288 d:ComputerEquipment 2021-11-30 07449288 d:CurrentFinancialInstruments 2022-11-30 07449288 d:CurrentFinancialInstruments 2021-11-30 07449288 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 07449288 d:CurrentFinancialInstruments d:WithinOneYear 2021-11-30 07449288 d:ShareCapital 2022-11-30 07449288 d:ShareCapital 2021-11-30 07449288 d:RetainedEarningsAccumulatedLosses 2022-11-30 07449288 d:RetainedEarningsAccumulatedLosses 2021-11-30 07449288 c:OrdinaryShareClass1 2021-12-01 2022-11-30 07449288 c:OrdinaryShareClass1 2022-11-30 07449288 c:OrdinaryShareClass1 2021-11-30 07449288 c:FRS102 2021-12-01 2022-11-30 07449288 c:AuditExempt-NoAccountantsReport 2021-12-01 2022-11-30 07449288 c:FullAccounts 2021-12-01 2022-11-30 07449288 c:PrivateLimitedCompanyLtd 2021-12-01 2022-11-30 07449288 2 2021-12-01 2022-11-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 07449288

010011001 LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2022

010011001 LIMITED

CONTENTS

	Page
Balance sheet	1
Notes to the financial statements	2 - 6

REGISTERED NUMBER:07449288

010011001 LIMITED

BALANCE SHEET

AS AT 30 NOVEMBER 2022

		2022		2021
Note		£		£


Current assets
Debtors: amounts falling due within one year	5	15,742		450
Cash at bank and in hand		41,676		361
		57,418		811
Creditors: amounts falling due within one year	6	(73,720)		(47,033)
Net current liabilities			(16,302)		(46,222)
Total assets less current liabilities			(16,302)		(46,222)

Net liabilities			(16,302)		(46,222)

Capital and reserves
Called up share capital	7	100	100
Profit and loss account		(16,402)	(46,322)
Total deficit		(16,302)	(46,222)

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 profit and loss account 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:

T J Millar

Director

Date: 1 September 2023

The notes on pages 2 to 6 form part of these financial statements.

Page 1

010011001 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2022

1.	General information

010011001 Limited is a private company limited by shares incorporated in England and Wales. The address of its registered office is 16 Great Queen Street, Covent Garden, London, WC2B 5AH.
The financial statements are presented in Sterling (£) which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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 following principal accounting policies have been applied:

2.2

Going concern

The financial statements have been prepared on a going concern basis notwithstanding the fact that the company has a deficiency on total equity at the end of the year. The director considers this basis to be appropriate as the company has sufficient facilities available from its shareholder to fund its working capital requirements for a period of at least twelve months from the date these financial statements were approved.

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.

2.4

Interest income

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

Page 2

010011001 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2022

2.Accounting policies (continued)

2.5

Taxation

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.

2.6

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:

Computer equipment

33%

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.

2.7

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

Financial instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument.

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 deducting all of its liabilities.

The company’s policies for its major classes of financial assets and financial liabilities are set out below.

Page 3

010011001 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2022

2.Accounting policies (continued)

Financial instruments (continued)

Financial assets
Basic financial assets, including trade and other debtors and cash and bank balances, are initially recognised at transaction price, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Financial liabilities

Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Page 4

010011001 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2022

2.Accounting policies (continued)

Financial instruments (continued)

Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.

Employees

The average monthly number of employees, including directors, during the year was 1 (2021 - 1).

4.	Tangible fixed assets

		Computer equipment
		£
	Cost
	At 1 December 2021	2,002
	At 30 November 2022	2,002
	Depreciation
	At 1 December 2021	2,002
	At 30 November 2022	2,002
	Net book value
	At 30 November 2022	-
	At 30 November 2021	-

Debtors

					2022	2021
					£	£


Other debtors	11,770	450
Tax recoverable	3,972	-
	15,742	450

Page 5

010011001 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2022

6.	Creditors: Amounts falling due within one year
		2022	2021
		£	£

Trade creditors	300	-
Corporation tax	10,273	-
Other taxation and social security	15,897	-
Other creditors	-	44,483
Accruals and deferred income	47,250	2,550
	73,720	47,033

7.	Share capital
		2022	2021
		£	£

Allotted, called up and fully paid

100 (2021 - 100) Ordinary shares of £1 each	100	100

8.	Related party transactions

As at 30 November 2022, an amount included within other debtors of £11,770 was owed by the director to the company (2021: amount owed by the company to the director of £44,483). The loan is provided to the director at a rate of 2% per annum. There are no formal terms or conditions regarding repayment of the loan.

Page 6