ACCOUNTS - Final Accounts preparation

Caseware UK (AP4) 2021.0.152 2021.0.152 2021-10-312021-10-315true2020-10-06falseSoftware publishing0falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12932932 2020-10-05 12932932 2020-10-06 2021-10-31 12932932 2019-11-01 2020-10-05 12932932 2021-10-31 12932932 c:Director5 2020-10-06 2021-10-31 12932932 d:ComputerEquipment 2020-10-06 2021-10-31 12932932 d:ComputerEquipment 2021-10-31 12932932 d:ComputerEquipment d:OwnedOrFreeholdAssets 2020-10-06 2021-10-31 12932932 d:CurrentFinancialInstruments 2021-10-31 12932932 d:CurrentFinancialInstruments d:WithinOneYear 2021-10-31 12932932 d:ShareCapital 2021-10-31 12932932 d:SharePremium 2021-10-31 12932932 d:RetainedEarningsAccumulatedLosses 2021-10-31 12932932 c:OrdinaryShareClass1 2020-10-06 2021-10-31 12932932 c:OrdinaryShareClass1 2021-10-31 12932932 c:FRS102 2020-10-06 2021-10-31 12932932 c:AuditExempt-NoAccountantsReport 2020-10-06 2021-10-31 12932932 c:FullAccounts 2020-10-06 2021-10-31 12932932 c:PrivateLimitedCompanyLtd 2020-10-06 2021-10-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12932932

7 OF D LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 OCTOBER 2021

7 OF D LIMITED

REGISTERED NUMBER: 12932932

STATEMENT OF FINANCIAL POSITION

AS AT 31 OCTOBER 2021

		2021
Note		£

Fixed assets
Tangible assets	4		10,966
			10,966
Current assets
Debtors: amounts falling due within one year	5	4,119
Cash at bank and in hand		469,813
		473,932
Creditors: amounts falling due within one year	6	(22,950)
Net current assets			450,982
Total assets less current liabilities			461,948

Net assets			461,948

Capital and reserves
Called up share capital	7	85
Share premium account		697,504
Profit and loss account		(235,641)
		461,948

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 period 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 income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

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7 OF D LIMITED

REGISTERED NUMBER: 12932932

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 OCTOBER 2021

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

S Z Skorchev

Director

Date: 15 September 2022

The notes on pages 3 to 7 form part of these financial statements.

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7 OF D LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 OCTOBER 2021

1.	General information

The company is a private company, limited by shares, registered in England and Wales and incorporated in the United Kingdom under the Companies Act 2006.
The principal activity of the company in the period under review was that of the development of software.
The registered office address is Stonecross, Trumpington High Street, Cambridge, CB2 9SU.

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

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

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.

2.3

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.

2.4

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.

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7 OF D LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 OCTOBER 2021

2.Accounting policies (continued)

2.5

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.

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7 OF D LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 OCTOBER 2021

2.Accounting policies (continued)

2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

(i) Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies,
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.
Such assets are subsequently carried at amortised cost using the effective interest method.
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 Income
and Retained Earnings.
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) 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.
(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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 receipts discounted at a market rate of
interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary
course of business from suppliers. Trade creditors are classified as current liabilities if payment is
due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are
recognised initially at transaction price and subsequently measured at amortised cost using the
effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual
obligation is discharged, cancelled or expires.

Employees

The average monthly number of employees, including directors, during the period was 5.

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7 OF D LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 OCTOBER 2021

4.	Tangible fixed assets

		Computer equipment
		£
	Cost or valuation
	Additions	11,793
	At 31 October 2021	11,793
	Depreciation
	Charge for the period on owned assets	827
	At 31 October 2021	827
	Net book value
	At 31 October 2021	10,966

Debtors

					2021
					£


	Other debtors	4,119
		4,119

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

	Trade creditors	18,647
	Other taxation and social security	1,656
	Other creditors	2,647
		22,950

7.	Share capital
		2021
		£

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7 OF D LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 OCTOBER 2021

7.Share capital (continued)

		Allotted, called up and fully paid

		8,500 Ordinary shares of £0.01 each	85

During the period, 8,500 ordinary shares were allotted for £697,589. The share have a nominal value of 0.01p per share and have an aggregate nominal value of £85.

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