Caseware UK (AP4) 2021.0.152 2021.0.152 2022-03-312022-03-31false42021-04-01falseNo description of principal activity4trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC316162 2021-04-01 2022-03-31 SC316162 2020-04-01 2021-03-31 SC316162 2022-03-31 SC316162 2021-03-31 SC316162 c:CompanySecretary1 2021-04-01 2022-03-31 SC316162 c:Director1 2021-04-01 2022-03-31 SC316162 c:Director2 2021-04-01 2022-03-31 SC316162 c:RegisteredOffice 2021-04-01 2022-03-31 SC316162 d:FurnitureFittings 2021-04-01 2022-03-31 SC316162 d:FurnitureFittings 2022-03-31 SC316162 d:FurnitureFittings 2021-03-31 SC316162 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-04-01 2022-03-31 SC316162 d:OfficeEquipment 2021-04-01 2022-03-31 SC316162 d:OfficeEquipment 2022-03-31 SC316162 d:OfficeEquipment 2021-03-31 SC316162 d:OfficeEquipment d:OwnedOrFreeholdAssets 2021-04-01 2022-03-31 SC316162 d:ComputerEquipment 2021-04-01 2022-03-31 SC316162 d:OtherPropertyPlantEquipment 2022-03-31 SC316162 d:OtherPropertyPlantEquipment 2021-03-31 SC316162 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2021-04-01 2022-03-31 SC316162 d:OwnedOrFreeholdAssets 2021-04-01 2022-03-31 SC316162 d:FreeholdInvestmentProperty 2021-04-01 2022-03-31 SC316162 d:FreeholdInvestmentProperty 2022-03-31 SC316162 d:FreeholdInvestmentProperty 2021-03-31 SC316162 d:CurrentFinancialInstruments 2022-03-31 SC316162 d:CurrentFinancialInstruments 2021-03-31 SC316162 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 SC316162 d:CurrentFinancialInstruments d:WithinOneYear 2021-03-31 SC316162 d:ShareCapital 2022-03-31 SC316162 d:ShareCapital 2021-03-31 SC316162 d:RetainedEarningsAccumulatedLosses 2022-03-31 SC316162 d:RetainedEarningsAccumulatedLosses 2021-03-31 SC316162 c:OrdinaryShareClass1 2021-04-01 2022-03-31 SC316162 c:OrdinaryShareClass1 2022-03-31 SC316162 c:FRS102 2021-04-01 2022-03-31 SC316162 c:AuditExempt-NoAccountantsReport 2021-04-01 2022-03-31 SC316162 c:FullAccounts 2021-04-01 2022-03-31 SC316162 c:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC316162










VCODEX LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

 
VCODEX LIMITED
 

COMPANY INFORMATION


Directors
Prof. I E Richardson 
Dr. P H Ballantyne 




Company Secretary
Dr. P H Ballantyne



Registered Number 
SC316162



Registered Office
31 Waterloo Quay

Aberdeen

Scotland

AB11 5BS





 
VCODEX LIMITED
REGISTERED NUMBER: SC316162

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2022

2022
2021
£
£

Fixed assets
  

Tangible assets
 4 
1,011
2,780

Investment property
 5 
281,245
280,475

  
282,256
283,255

Current assets
  

Debtors: amounts falling due within one year
 6 
4,694
153,720

Bank and cash balances
  
6,905
57,944

  
11,599
211,664

Creditors: amounts falling due within one year
 7 
(40,953)
(79,249)

Net current assets
  
 
 
(29,354)
 
 
132,415

Total assets less current liabilities
  
252,902
415,670

Provisions for liabilities
  

Deferred tax
  
(206)
(528)

  
 
 
(206)
 
 
(528)

Net assets
  
252,696
415,142


Capital and reserves
  

Called up share capital 
 8 
2
2

Profit and loss account
  
252,694
415,140

  
252,696
415,142


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 on 13 September 2022.




Page 1

 
VCODEX LIMITED
REGISTERED NUMBER: SC316162

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2022

Dr. P H Ballantyne
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
VCODEX LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1.


General information

Vcodex Limited is a private company, limited by shares, domiciled in Scotland with registration number SC316162. The registered office is Suite 4, Ocean Spirit House West, 31 Waterloo Quay, Aberdeen, Scotland, AB11 5BS. 

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

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.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
VCODEX LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)

 
2.3

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. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover 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 turnover 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.

 
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:

Sound equipment
-
25%
Office equipment
-
25%
Computer equipment
-
25%

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

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.6

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.

Page 4

 
VCODEX LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)

 
2.7

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 reporting 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 reporting 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 reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2021 - 4).

Page 5

 
VCODEX LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

4.


Tangible fixed assets





Sound equipment
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2021
15,358
5,207
22,879
43,444



At 31 March 2022

15,358
5,207
22,879
43,444



Depreciation


At 1 April 2021
15,335
4,867
20,462
40,664


Charge for the year on owned assets
23
340
1,406
1,769



At 31 March 2022

15,358
5,207
21,868
42,433



Net book value



At 31 March 2022
-
-
1,011
1,011



At 31 March 2021
23
340
2,417
2,780

Page 6

 
VCODEX LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2021
280,475


Additions at cost
770



At 31 March 2022
281,245

The 2022 valuations were made by the directors, on an open market value for existing use basis.







6.


Debtors

2022
2021
£
£


Trade debtors
-
107,346

Other debtors
1,976
44,523

Prepayments and accrued income
2,718
1,851

4,694
153,720



7.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
480
-

Amounts owed to group undertakings
36,442
56,455

Other taxation and social security
732
19,416

Other creditors
299
618

Accruals and deferred income
3,000
2,760

40,953
79,249


Page 7

 
VCODEX LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

8.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



2 Ordinary shares of £1.00 each
2
2



9.


Controlling party

The parent company is Vcodex Holdings (No.2) Limited, a private company, limited by shares, domiciled
in Scotland with registration number SC576528. The registered office of the parent company is Suite 4, Ocean Spirit House West, 31 Waterloo Quay, Aberdeen, Scotland, AB11 5BS.


Page 8