Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-31falsetrue33The principle activity of the company is that of a holding company.2021-01-01falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11353590 2021-01-01 2021-12-31 11353590 2019-12-01 2020-12-31 11353590 2021-12-31 11353590 2020-12-31 11353590 c:Director1 2021-01-01 2021-12-31 11353590 d:CurrentFinancialInstruments 2021-12-31 11353590 d:CurrentFinancialInstruments 2020-12-31 11353590 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 11353590 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 11353590 d:ShareCapital 2021-12-31 11353590 d:ShareCapital 2020-12-31 11353590 d:SharePremium 2021-12-31 11353590 d:SharePremium 2020-12-31 11353590 c:FRS102 2021-01-01 2021-12-31 11353590 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 11353590 c:FullAccounts 2021-01-01 2021-12-31 11353590 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 11353590 6 2021-01-01 2021-12-31 iso4217:GBP xbrli:pure

Registered number:  11353590














LCT HOLDINGS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021


 
LCT HOLDINGS LIMITED
REGISTERED NUMBER: 11353590

BALANCE SHEET
AS AT 31 DECEMBER 2021

2021
2020
Note
£
£

Fixed assets
  

Investments
 4 
175,081
175,081

  
175,081
175,081

Current assets
  

Debtors: amounts falling due within one year
 5 
883,836
836,549

  
883,836
836,549

Creditors: amounts falling due within one year
 6 
(1,437)
(54,164)

Net current assets
  
 
 
882,399
 
 
782,385

Total assets less current liabilities
  
1,057,480
957,466

  

Net assets
  
1,057,480
957,466


Capital and reserves
  

Called up share capital 
  
66,449
65,151

Share premium account
  
991,031
892,315

  
1,057,480
957,466


Page 1

 
LCT HOLDINGS LIMITED
REGISTERED NUMBER: 11353590
    
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 year 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.

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




Jason Matthews
Director

Date: 31 August 2022

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

Page 2

 
LCT HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1.


General information

The company is a private company limited by shares, which is incorporated under the Companies Act 2006 and registered in England & Wales (no. 11353590). The registered office is 11th Floor The Plaza, 100 Old Hall Street, Liverpool, Merseyside, United Kingdom, L3 9QJ.
These financial statements present information about the company as an individual undertaking. The principal activity of the company is that of a holding 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

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Page 3

 
LCT HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.3

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.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.5

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.

 
2.6

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.

 
2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2020 - 3).

Page 4

 
LCT HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2021
175,081



At 31 December 2021
175,081





5.


Debtors

2021
2020
£
£


Amounts owed by group undertakings
883,836
836,549

883,836
836,549



6.


Creditors: Amounts falling due within one year

2021
2020
£
£

Other taxation and social security
1,437
-

Other creditors
-
54,164

1,437
54,164



7.


Related party transactions

During the year the company charged management charges of £328,463 (2020: £Nil) to its subsidiary, LCT Software Limited.
Included in debtors is an amount of £883,837 (2020: £782,385) due from LCT Software Limited, a subsidiary company. The loan is repayable on demand and no interest has been charged.


8.


Controlling party

The company is under the control of Avolve Software Corporation, a company registered in the United States of America.

 
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