Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-31true1No description of principal activity12021-01-01falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 4308624 2021-01-01 2021-12-31 4308624 2020-01-01 2020-12-31 4308624 2021-12-31 4308624 2020-12-31 4308624 c:Director1 2021-01-01 2021-12-31 4308624 d:CurrentFinancialInstruments 2021-12-31 4308624 d:CurrentFinancialInstruments 2020-12-31 4308624 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 4308624 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 4308624 d:ShareCapital 2021-12-31 4308624 d:ShareCapital 2020-12-31 4308624 d:RetainedEarningsAccumulatedLosses 2021-12-31 4308624 d:RetainedEarningsAccumulatedLosses 2020-12-31 4308624 c:FRS102 2021-01-01 2021-12-31 4308624 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 4308624 c:FullAccounts 2021-01-01 2021-12-31 4308624 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 iso4217:GBP xbrli:pure

Registered number: 4308624









AUDIOCREATE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2021

 
AUDIOCREATE LIMITED
REGISTERED NUMBER:4308624

BALANCE SHEET
AS AT 31 DECEMBER 2021

2021
2020
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
9,284
14,464

Cash at bank and in hand
 5 
151
101

  
9,435
14,565

Creditors: amounts falling due within one year
 6 
(668)
(7,495)

Net current assets
  
 
 
8,767
 
 
7,070

Total assets less current liabilities
  
8,767
7,070

  

Net assets
  
8,767
7,070


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
8,667
6,970

  
8,767
7,070


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 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: 


................................................
J S Parker
Director

Date: 9 September 2022

Page 1

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

1.


General information

The company is incorporated in the United Kingdom under the Companies Act. The company is a private limited company and is registered in England and Wales. The address of the registered office is shown on the company information page.
The company’s functional and presentation currency is GBP.

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:

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Page 2

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

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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.

 
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.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2020 - 1).


4.


Debtors

2021
2020
£
£


Trade debtors
-
4,824

Other debtors
-
116

Deferred taxation
9,284
9,524

9,284
14,464



5.


Cash and cash equivalents

2021
2020
£
£

Cash at bank and in hand
151
101

151
101


Page 3

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

6.


Creditors: Amounts falling due within one year

2021
2020
£
£

Trade creditors
-
6,495

Other creditors
158
-

Accruals and deferred income
510
1,000

668
7,495


 
Page 4