ACCOUNTS - Final Accounts preparation

Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-312023-05-04false2022-01-0112No description of principal activitytruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12320325 2022-01-01 2022-12-31 12320325 2021-01-01 2021-12-31 12320325 2022-12-31 12320325 2021-12-31 12320325 1 2022-01-01 2022-12-31 12320325 d:Director1 2022-01-01 2022-12-31 12320325 d:RegisteredOffice 2022-01-01 2022-12-31 12320325 c:CurrentFinancialInstruments 2022-12-31 12320325 c:CurrentFinancialInstruments 2021-12-31 12320325 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 12320325 c:CurrentFinancialInstruments c:WithinOneYear 2021-12-31 12320325 c:ShareCapital 2022-12-31 12320325 c:ShareCapital 2021-12-31 12320325 c:RetainedEarningsAccumulatedLosses 2022-12-31 12320325 c:RetainedEarningsAccumulatedLosses 2021-12-31 12320325 d:FRS102 2022-01-01 2022-12-31 12320325 d:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 12320325 d:FullAccounts 2022-01-01 2022-12-31 12320325 d:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 12320325 (England and Wales)

FIVEBY UK LTD

UNAUDITED

DIRECTOR'S REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022


FIVEBY UK LTD

COMPANY INFORMATION

Director	A G Kochis


Registered number	12320325


Registered office	New Penderel House, 4th Floor
	283-288 High Holborn
	London
	WC1V 7HP


Accountants
	ZEDRA Corporate Reporting Services (UK) Limited


FIVEBY UK LTD

CONTENTS

	Page
Balance Sheet	1 - 2
Notes to the Financial Statements	3 - 5


FIVEBY UK LTD REGISTERED NUMBER:12320325

BALANCE SHEET

AS AT 31 DECEMBER 2022

		2022		2021
		£		£


Current assets
Debtors	3	19,594		18,658
Cash at bank and in hand		9,379		19,628
		28,973		38,286
Creditors: amounts falling due within one year	4	(8,546)		(21,338)
Net current assets			20,427		16,948
Total assets less current liabilities			20,427		16,948

Net assets			20,427		16,948

Page 1


FIVEBY UK LTD REGISTERED NUMBER:12320325

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2022

		2022		2021
		£		£

Capital and reserves
Called up share capital	1	1
Profit and loss account	20,426	16,947
	20,427	16,948

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.

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

A G Kochis

Director

Date: 4 May 2023

The notes on pages 3 to 5 form part of these financial statements.

Page 2


FIVEBY UK LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

1.Accounting policies

1.1

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:

1.2

Going concern

FiveBy UK Ltd has received written confirmation from its parent company, FiveBy Solutions Inc, that it will continue to provide financial support for a period of at least 12 months from the date of signing these financial statements. For this reason, the director continues to adopt the going concern basis in preparing the financial statements.

1.3

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 profit or loss when they fall due. Amounts not paid
are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately
from the Company in independently administered funds.

1.4

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

Page 3


FIVEBY UK LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

1.Accounting policies (continued)

1.5

Turnover

Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Rendering of services

Turnover is recognised on a cost plus 7% basis, in line with the intercompany service agreement with the parent company. Intercompany turnover is recognised when all of the following conditions are satisfied:

∙the amount of turnover can be measured reliably;

∙it is probable that the Company will receive the consideration due under the intercompany service agreement;

∙the costs incurred under the intercompany service agreement can be measured reliably.

1.6

Taxation

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.

1.7

Debtors

Short term debtors are measured at transaction price, less any impairment. Amounts owed by group undertakings are intercompany loans measured at cost. These loans are unsecured, interest free and repayable on demand.

1.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions.

1.9

Creditors

Short term creditors are measured at the transaction price. Amounts owed to group undertakings are intercompany loans measured at cost. These loans are unsecured, interest free and repayable on demand.

Employees

The average monthly number of employees during the year was 1 (2021 - 2).

Page 4


FIVEBY UK LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

Debtors

					2022	2021
					£	£



Amounts owed by group undertakings	17,498	15,947
Other debtors	760	1,015
Prepayments and accrued income	1,336	1,696
	19,594	18,658

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

Trade creditors	1,140	1,240
Corporation tax	1,094	2,133
Other taxation and social security	-	3,757
Other creditors	-	1,411
Accruals and deferred income	6,312	12,797
	8,546	21,338

5.	Controlling party

FiveBy Solutions Inc. is the parent company of the smallest group for which consolidated financial statements are drawn up of which the Company is a member. The registered office of the parent company is 140 Lakeside Ave. Ste. A-#354, Seattle, WA 98122-6538, United States.

6.	Post balance sheet events

There were no adjusting or non-adjusting events occuring between the end of the reporting period and the date these financial statements were approved.

Page 5