Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31112022-01-01The principal activity of the company in the year under review was that of the development and sale of computer software.falsefalse9trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11308435 2022-01-01 2022-12-31 11308435 2021-01-01 2021-12-31 11308435 2022-12-31 11308435 2021-12-31 11308435 2021-01-01 11308435 2022-01-01 11308435 c:Director1 2022-01-01 2022-12-31 11308435 d:ComputerEquipment 2022-01-01 2022-12-31 11308435 d:ComputerEquipment 2022-12-31 11308435 d:ComputerEquipment 2021-12-31 11308435 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 11308435 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-01-01 2022-12-31 11308435 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 11308435 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2021-12-31 11308435 d:CurrentFinancialInstruments 2022-12-31 11308435 d:CurrentFinancialInstruments 2021-12-31 11308435 d:Non-currentFinancialInstruments 2022-12-31 11308435 d:Non-currentFinancialInstruments 2021-12-31 11308435 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11308435 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 11308435 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 11308435 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 11308435 d:ShareCapital 2022-12-31 11308435 d:ShareCapital 2021-12-31 11308435 d:OtherMiscellaneousReserve 2022-12-31 11308435 d:OtherMiscellaneousReserve 2021-12-31 11308435 d:RetainedEarningsAccumulatedLosses 2022-12-31 11308435 d:RetainedEarningsAccumulatedLosses 2021-12-31 11308435 c:OrdinaryShareClass1 2022-01-01 2022-12-31 11308435 c:OrdinaryShareClass1 2022-12-31 11308435 c:OrdinaryShareClass1 2021-12-31 11308435 c:FRS102 2022-01-01 2022-12-31 11308435 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 11308435 c:FullAccounts 2022-01-01 2022-12-31 11308435 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 11308435 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2022-01-01 2022-12-31 11308435 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2022-01-01 2022-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 11308435









THIS IS ONE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

 
THIS IS ONE LIMITED
REGISTERED NUMBER: 11308435

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Intangible assets
 4 
270,962
338,754

Tangible assets
 5 
6,254
5,577

  
277,216
344,331

Current assets
  

Debtors: amounts falling due within one year
 6 
191,359
361,231

Cash at bank and in hand
  
252,912
382,749

  
444,271
743,980

Creditors: amounts falling due within one year
 7 
(284,469)
(507,162)

Net current assets
  
 
 
159,802
 
 
236,818

Total assets less current liabilities
  
437,018
581,149

Creditors: amounts falling due after more than one year
 8 
(151,109)
(225,944)

  

Net assets
  
285,909
355,205


Capital and reserves
  

Called up share capital 
 9 
1
1

Other reserves
  
10,234
10,234

Profit and loss account
  
275,674
344,970

  
285,909
355,205


Page 1

 
THIS IS ONE LIMITED
REGISTERED NUMBER: 11308435
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022

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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 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 by: 

A Smith
Director

Date: 28 September 2023

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
THIS IS ONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

This Is One Limited is a private company, limited by shares, incorporated in England & Wales, with registered number 11308435. The registered office is One, High Street, Egham, TW20 9HJ.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

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.

Page 3

 
THIS IS ONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
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.

  
2.4

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.
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.

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
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.

Page 4

 
THIS IS ONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Share-based payments

Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each balance sheet date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition.
The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the Company keeping the scheme open or the employee maintaining any contributions required by the scheme).
Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period.
Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.

 
2.9

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.

Page 5

 
THIS IS ONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.10

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 Amortisation is provided on the following bases:

Development expenditure
-
20%

 
2.11

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:

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.

 
2.12

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.

 
2.13

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.

Page 6

 
THIS IS ONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2022
        2021
            No.
            No.







Employees
11
9


4.


Intangible assets




Development expenditure

£



Cost


At 1 January 2022
820,795


Additions
81,356



At 31 December 2022

902,151



Amortisation


At 1 January 2022
482,041


Charge for the year on owned assets
149,148



At 31 December 2022

631,189



Net book value



At 31 December 2022
270,962



At 31 December 2021
338,754



Page 7

 
THIS IS ONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

5.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 January 2022
9,275


Additions
3,964



At 31 December 2022

13,239



Depreciation


At 1 January 2022
3,698


Charge for the year on owned assets
3,287



At 31 December 2022

6,985



Net book value



At 31 December 2022
6,254



At 31 December 2021
5,577


6.


Debtors

2022
2021
£
£


Trade debtors
125,501
122,298

Other debtors
38,594
68,870

Prepayments and accrued income
27,264
170,063

191,359
361,231


Page 8

 
THIS IS ONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

7.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank loans
73,974
67,541

Trade creditors
10,045
9,259

Other taxation and social security
21,535
24,794

Other creditors
20,000
130,664

Accruals and deferred income
158,915
274,904

284,469
507,162



8.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Bank loans
151,109
225,944

151,109
225,944


The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:

2022
2021
£
£


Repayable by instalments
-
4,410

-
4,410




9.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



100,000 (2021 - 100,000) Ordinary shares of £0.00001 each
1
1


Page 9

 
THIS IS ONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

10.


Share-based payments

The company operates an Enterprise Management Incentive ("EMI") scheme for certain directors and employees. Share options are exercisable for Ordinary shares at prices determined at the date of grant.
The share options were granted on 22nd September 2020 with the expiry dates being ten years following the date of grant.
Fair value of share options granted
The Share Options were priced using the Black-Scholes option pricing model. The model is internationally recognised as being appropriate to value Share Options. The company recognised total expenses of £0 (2021: £0) related to equity settled share based payment transactions in the Statement of comprehensive income.
Movements in share options during the year
Movements in the number of share options outstanding and their related weighted average exercise prices are as follows:

Weighted average exercise price (pence)
2022
Number
2022
Weighted average exercise price
(pence)
2021
Number
2021

Outstanding at the beginning of the year

0.001

14,691

0.001
 
14,691
 
Granted during the year


-

 
-
 
Outstanding at the end of the year
0.001

14,691

0.001
 
14,691
 





11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £14,311 (2021: £13,611). Contributions totalling £0 (2021: £2,665) were payable to the fund at the balance sheet date and are included in creditors.


12.


Transactions with directors

Advances of £0 were loaned by Directors to the Company in the year to 31 December 2022 (2021: £185,000). Repayments of £108,000 were made during the year (2021: £82,000). This is provided interest free and there are no formal terms for its repayment.
A year-end balance of £20,000 is due from the Company to Directors (2021: £128,000).

Page 10

 
THIS IS ONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

13.


Related party transactions

Related party transactions include transactions with Rawnet Limited, a company in which a director and controling party is a director.
The amount due to Rawnet Limited at the year end was £7,359 (2021: £4,039). During the year, goods and services purchased from Rawnet Limited amounted to £38,904 (2021: £47,514) and payments made to Rawnet Limited were to the value of £40,885 (2021: £60,045). During the year, goods and services sold to Rawnet Limited amounted to £9,840 (2021: £45,257) and payments received from Rawnet Limited were to the value of £9,531 (2021: £69,857). The loan balance due to Rawnet Limited decreased to nil in the previous year.

 
Page 11