Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-312021-04-01falseThe principal activity of the Company during the year was the sale of text messages from computers to mobiles. The Director intends to continue and develop this activity.22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05286521 2021-04-01 2021-12-31 05286521 2020-04-01 2021-03-31 05286521 2021-12-31 05286521 2021-03-31 05286521 c:Director1 2021-04-01 2021-12-31 05286521 d:OfficeEquipment 2021-04-01 2021-12-31 05286521 d:OfficeEquipment 2021-12-31 05286521 d:OfficeEquipment 2021-03-31 05286521 d:OfficeEquipment d:OwnedOrFreeholdAssets 2021-04-01 2021-12-31 05286521 d:ComputerEquipment 2021-04-01 2021-12-31 05286521 d:ComputerEquipment 2021-12-31 05286521 d:ComputerEquipment 2021-03-31 05286521 d:ComputerEquipment d:OwnedOrFreeholdAssets 2021-04-01 2021-12-31 05286521 d:OwnedOrFreeholdAssets 2021-04-01 2021-12-31 05286521 d:CurrentFinancialInstruments 2021-12-31 05286521 d:CurrentFinancialInstruments 2021-03-31 05286521 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 05286521 d:CurrentFinancialInstruments d:WithinOneYear 2021-03-31 05286521 d:ShareCapital 2021-12-31 05286521 d:ShareCapital 2021-03-31 05286521 d:RetainedEarningsAccumulatedLosses 2021-12-31 05286521 d:RetainedEarningsAccumulatedLosses 2021-03-31 05286521 c:OrdinaryShareClass1 2021-04-01 2021-12-31 05286521 c:OrdinaryShareClass1 2021-12-31 05286521 c:OrdinaryShareClass1 2021-03-31 05286521 c:FRS102 2021-04-01 2021-12-31 05286521 c:AuditExempt-NoAccountantsReport 2021-04-01 2021-12-31 05286521 c:FullAccounts 2021-04-01 2021-12-31 05286521 c:PrivateLimitedCompanyLtd 2021-04-01 2021-12-31 05286521 2 2021-04-01 2021-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 05286521









TEXTMAGIC LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2021

 
TEXTMAGIC LIMITED
REGISTERED NUMBER: 05286521

BALANCE SHEET
AS AT 31 DECEMBER 2021

31 December
31 March
2021
2021
Note
£
£

FIXED ASSETS
  

Tangible assets
 3 
17,015
6,187

  
17,015
6,187

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 4 
91,893
58,704

Cash at bank and in hand
  
3,128,710
1,993,861

  
3,220,603
2,052,565

Creditors: amounts falling due within one year
 5 
(2,994,293)
(2,038,288)

NET CURRENT ASSETS
  
 
 
226,310
 
 
14,277

TOTAL ASSETS LESS CURRENT LIABILITIES
  
243,325
20,464

  

NET ASSETS
  
243,325
20,464


CAPITAL AND RESERVES
  

Called up share capital 
 6 
1,000
1,000

Profit and loss account
  
242,325
19,464

  
243,325
20,464


Page 1

 
TEXTMAGIC LIMITED
REGISTERED NUMBER: 05286521
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2021

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 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: 






P Vaikmaa
Director

Date: 15 August 2022

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

Page 2

 
TEXTMAGIC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021

1.


GENERAL INFORMATION

Textmagic Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is Salisbury House, Station Road, Cambridge, CB1 2LA. 
The Company is a wholly owned subsidiary of TextMagic AS (Estonia), a public listed company registered in Estonia. The financial statements cover the period 1 April 2021 to 31 December 2021. The reporting period was changed to bring the year end of the Company in line with that of its parent company.

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

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 
Turnover from a contract to provide services is recognised in the period in which the services are provided when the amount of turnover can be measured reliably and it is probable that the Company will receive the consideration due under the contract.

Page 3

 
TEXTMAGIC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021

2.ACCOUNTING POLICIES (CONTINUED)

 
2.3

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
-
20% 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 profit or loss.

 
2.4

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 4

 
TEXTMAGIC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021

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.

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.

 
2.6

INTEREST INCOME

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

Page 5

 
TEXTMAGIC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021

3.


TANGIBLE FIXED ASSETS







Office equipment
Computer equipment
Total

£
£
£



COST


At 1 April 2021
2,056
10,555
12,611


Additions
-
14,637
14,637



At 31 December 2021

2,056
25,192
27,248



DEPRECIATION


At 1 April 2021
2,056
4,368
6,424


Charge for the period on owned assets
-
3,809
3,809



At 31 December 2021

2,056
8,177
10,233



NET BOOK VALUE



At 31 December 2021
-
17,015
17,015



At 31 March 2021
-
6,187
6,187

Page 6

 
TEXTMAGIC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021

4.


DEBTORS

31 December
31 March
2021
2021
£
£


Trade debtors
2
-

Other debtors
38,178
24,459

Prepayments and accrued income
53,713
34,245

91,893
58,704



5.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31 December
31 March
2021
2021
£
£

Bank overdrafts
-
1,823

Trade creditors
187,366
832,597

Amounts owed to group undertakings
1,362,287
-

Corporation tax
26,782
-

Other taxation and social security
103,352
88,058

Other creditors
437
410

Accruals and deferred income
1,314,069
1,115,400

2,994,293
2,038,288


Amounts owed to group undertakings are unsecured and repayable on demand.


6.


SHARE CAPITAL

31 December
31 March
2021
2021
£
£
ALLOTTED, CALLED UP AND FULLY PAID



1,000 (2021 - 1,000) Ordinary shares of £1 each
1,000
1,000


 
Page 7