Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-31true8false2021-01-01falseThe principal activity of the company continued to be that of computer technology development7The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05577050 2021-01-01 2021-12-31 05577050 2020-01-01 2020-12-31 05577050 2021-12-31 05577050 2020-12-31 05577050 c:Director1 2021-01-01 2021-12-31 05577050 d:PlantMachinery 2021-01-01 2021-12-31 05577050 d:PlantMachinery 2021-12-31 05577050 d:PlantMachinery 2020-12-31 05577050 d:PlantMachinery d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 05577050 d:ComputerEquipment 2021-01-01 2021-12-31 05577050 d:ComputerEquipment 2021-12-31 05577050 d:ComputerEquipment 2020-12-31 05577050 d:ComputerEquipment d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 05577050 d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 05577050 d:CurrentFinancialInstruments 2021-12-31 05577050 d:CurrentFinancialInstruments 2020-12-31 05577050 d:Non-currentFinancialInstruments 2021-12-31 05577050 d:Non-currentFinancialInstruments 2020-12-31 05577050 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 05577050 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 05577050 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 05577050 d:Non-currentFinancialInstruments d:AfterOneYear 2020-12-31 05577050 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-12-31 05577050 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2020-12-31 05577050 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-12-31 05577050 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2020-12-31 05577050 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2021-12-31 05577050 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2020-12-31 05577050 d:ShareCapital 2021-12-31 05577050 d:ShareCapital 2020-12-31 05577050 d:RetainedEarningsAccumulatedLosses 2021-12-31 05577050 d:RetainedEarningsAccumulatedLosses 2020-12-31 05577050 c:FRS102 2021-01-01 2021-12-31 05577050 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 05577050 c:FullAccounts 2021-01-01 2021-12-31 05577050 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 05577050 d:WithinOneYear 2021-12-31 05577050 d:WithinOneYear 2020-12-31 05577050 d:BetweenOneFiveYears 2021-12-31 05577050 d:BetweenOneFiveYears 2020-12-31 05577050 2 2021-01-01 2021-12-31 05577050 6 2021-01-01 2021-12-31 iso4217:GBP xbrli:pure

Registered number: 05577050










HILDEBRAND TECHNOLOGY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2021

 
HILDEBRAND TECHNOLOGY LIMITED
REGISTERED NUMBER: 05577050

BALANCE SHEET
AS AT 31 DECEMBER 2021

2021
2020
Note
£
£

Fixed assets
  

Tangible assets
 4 
14,267
23,123

Investments
 5 
74,907
74,907

  
89,174
98,030

Current assets
  

Stocks
  
50,400
-

Debtors: amounts falling due within one year
 7 
436,809
537,015

Cash at bank and in hand
  
109,906
66,423

  
597,115
603,438

Creditors: amounts falling due within one year
 8 
(537,994)
(526,765)

Net current assets
  
 
 
59,121
 
 
76,673

Total assets less current liabilities
  
148,295
174,703

Creditors: amounts falling due after more than one year
 9 
(40,000)
(50,000)

  

Net assets
  
108,295
124,703


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
107,295
123,703

  
108,295
124,703


Page 1

 
HILDEBRAND TECHNOLOGY LIMITED
REGISTERED NUMBER: 05577050
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2021

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 Company's financial statements have been prepared and 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 on 9 August 2022.




J Cooper
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
HILDEBRAND TECHNOLOGY 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 and is incorporated in England and Wales. The address of its registered office is 56 Conduit Street, London, W1S 2YZ. 

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 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

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
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.

Page 3

 
HILDEBRAND TECHNOLOGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.4

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:

Plant and machinery
-
33%
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.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell after making due allowance for obsolete and slow moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.



 
2.8

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.

 
2.9

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.

Page 4

 
HILDEBRAND TECHNOLOGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.10

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.

Financial assets that are 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 Statement of comprehensive income.

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.

 
2.11

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.

 
2.12

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.

 
2.13

Interest income

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

Page 5

 
HILDEBRAND TECHNOLOGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.14

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.

 
2.15

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.


3.


Employees

The average monthly number of employees, including the director, during the year was 7 (2020: 8)


Page 6

 
HILDEBRAND TECHNOLOGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

4.


Tangible fixed assets





Plant and machinery
Computer equipment
Total

£
£
£



Cost 


At 1 January 2021
5,424
120,176
125,600


Additions
115
3,017
3,132


Disposals
-
(3,054)
(3,054)



At 31 December 2021

5,539
120,139
125,678



Depreciation


At 1 January 2021
2,052
100,425
102,477


Charge for the year on owned assets
1,275
8,116
9,391


Disposals
-
(457)
(457)



At 31 December 2021

3,327
108,084
111,411



Net book value



At 31 December 2021
2,212
12,055
14,267



At 31 December 2020
3,372
19,751
23,123


5.


Fixed asset investments





Investments in subsidiary companies
Investments in associates
Loans to associates
Total

£
£
£
£



Cost 


At 1 January 2021
10,437
58,550
5,920
74,907



At 31 December 2021
10,437
58,550
5,920
74,907




Page 7

 
HILDEBRAND TECHNOLOGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

6.


Stocks

2021
2020
£
£

Finished goods and goods for resale
50,400
-



7.


Debtors

2021
2020
£
£


Trade debtors
172,535
292,229

Amounts owed by group undertakings
2,772
2,772

Other debtors
261,502
242,014

436,809
537,015



8.


Creditors: Amounts falling due within one year

2021
2020
£
£

Bank loans
10,000
-

Trade creditors
119,514
118,014

Other taxation and social security
84,015
93,648

Other creditors
318,171
308,961

Accruals and deferred income
6,294
6,142

537,994
526,765



9.


Creditors: Amounts falling due after more than one year

2021
2020
£
£

Bank loans
40,000
50,000


Page 8

 
HILDEBRAND TECHNOLOGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

10.


Loans


Analysis of the maturity of loans is given below:


2021
2020
£
£

Amounts falling due within one year

Bank loans
10,000
-

Amounts falling due 1-2 years

Bank loans
10,000
10,000

Amounts falling due 2-5 years

Bank loans
30,000
30,000

Amounts falling due after more than 5 years

Bank loans
-
10,000

50,000
50,000



11.


Commitments under operating leases

At 31 December 2021 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2021
2020
£
£


Not later than 1 year
15,143
7,571

Later than 1 year and not later than 5 years
12,446
-

27,589
7,571


12.


Related party transactions

At the balance sheet date the company was owed £102,238 (2020: £102,238) by a shareholder. The amount is unsecured and payable on demand.
At the balance sheet date the company owed the directors partner £263,910 (2020: £263,910). The amount is unsecured and payable on demand.
Included within trade debtors at the balance sheet date was an amount of £48,000 (2020: £48,000) owed by a company in which it has signifcant control. No interest is charged on the amount due and the amount is repayable on demand.

 
Page 9