Company registration number 06557609 (England and Wales)
CAPTION DATA LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
CAPTION DATA LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 10
CAPTION DATA LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2022
31 December 2022
- 1 -
31 December
30 April
2022
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
4
194,164
110,969
Tangible assets
5
11,442
12,901
205,606
123,870
Current assets
Stocks
162,742
57,007
Debtors
6
145,495
473,252
Cash at bank and in hand
88,892
42,444
397,129
572,703
Creditors: amounts falling due within one year
7
(1,105,964)
(569,133)
Net current (liabilities)/assets
(708,835)
3,570
Total assets less current liabilities
(503,229)
127,440
Creditors: amounts falling due after more than one year
8
-
(35,464)
Provisions for liabilities
9
(16,000)
-
Net (liabilities)/assets
(519,229)
91,976
Capital and reserves
Called up share capital
10
177
177
Share premium account
389,386
389,386
Profit and loss reserves
(908,792)
(297,587)
Total equity
(519,229)
91,976
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 29 September 2023 and are signed on its behalf by:
Mr P Sanders
Director
Company Registration No. 06557609
CAPTION DATA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022
- 2 -
1
Accounting policies
Company information
Caption Data Limited is a private company limited by shares incorporated in England and Wales. The registered office is Blackstone Road, Stukeley Meadows Industrial Estate, Huntingdon, Cambridgeshire, PE29 6EE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future.
In assessing the going concern basis, the directors have considered the company’s business activities and its financial position. As at 31 December 2022 the company had cash reserves of £88,892, net current liabilities of £708,835 and net liabilities of £519,229. Included in creditors amounts falling within one year are amounts totalling £466,001 owed to fellow group undertakings. To ensure that the company remains a going concern, Polygon Group AB, head of the largest consolidation group, have confirmed that they will continue to provide such financial support as the company requires to enable it to meet its liabilities as they fall due for a period of at least 12 months from the date these financial statements are approved.
The directors continue to closely monitor the company's liquidity and capital adequacy and in doing so, forecasts have been produced covering a period of at least twelve months from the date that the financial statements are approved.
1.3
Reporting period
The current reporting period for the company has been reduced to eight months to end coterminous with other group entities. The comparative reporting period was twelve months. Comparative amounts presented in the financial statements, including the related notes, are therefore not entirely comparable due to this reporting period reduction.
1.4
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.5
Research and development expenditure
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.
1.6
Intangible fixed assets - goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
CAPTION DATA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 3 -
1.7
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Development costs
Straight line over 5 years
1.8
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
Straight line over 5 years
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.9
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.10
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials only.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.11
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash at bank only.
1.12
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.
CAPTION DATA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 4 -
Basic financial assets
Basic financial assets, which include trade debtors, corporation tax recoverable, other debtors, deferred tax asset and cash and bank balances, are initially measured at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including bank loans, trade creditors, other creditors and taxation and social security, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.13
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.
1.14
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
CAPTION DATA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 5 -
1.15
Provisions
Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
1.16
Employee benefits
The costs of short-term employee benefits are recognised as an expense.
1.17
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.18
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.19
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
CAPTION DATA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2022
- 6 -
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Key sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.
Valuation and amortisation of intangible fixed assets
Intangible assets are amortised over their useful lives, taking into account, where appropriate, residual values. The annual amortisation charge for intangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates.
Dilapidations
Obligations under a lease arise from the date the lease is signed so tenants may make provision for dilapidations in anticipation of the estimated cost of future repairs and renovations that will need to be met in line with their lease obligations.
3
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
31 December
30 April
2022
2022
Number
Number
Total
16
14
CAPTION DATA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2022
- 7 -
4
Intangible fixed assets
Goodwill
Development costs
Total
£
£
£
Cost
At 1 May 2022
2,908
235,149
238,057
Additions
110,218
110,218
At 31 December 2022
2,908
345,367
348,275
Amortisation and impairment
At 1 May 2022
2,908
124,180
127,088
Amortisation charged for the period
27,023
27,023
At 31 December 2022
2,908
151,203
154,111
Carrying amount
At 31 December 2022
194,164
194,164
At 30 April 2022
110,969
110,969
5
Tangible fixed assets
Fixtures, fittings & equipment
£
Cost
At 1 May 2022
58,314
Additions
2,808
Disposals
(248)
At 31 December 2022
60,874
Depreciation and impairment
At 1 May 2022
45,413
Depreciation charged in the period
4,044
Eliminated in respect of disposals
(25)
At 31 December 2022
49,432
Carrying amount
At 31 December 2022
11,442
At 30 April 2022
12,901
CAPTION DATA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2022
- 8 -
6
Debtors
31 December
30 April
2022
2022
Amounts falling due within one year:
£
£
Trade debtors
4,518
427,164
Corporation tax recoverable
22,350
Amounts owed by group undertakings
109,485
Other debtors
31,492
23,738
145,495
473,252
7
Creditors: amounts falling due within one year
31 December
30 April
2022
2022
£
£
Bank loans
10,000
Other borrowings
31,296
Trade creditors
59,134
153,670
Amounts owed to group undertakings
466,001
Taxation and social security
26,343
21,537
Other creditors
54,000
Accruals and deferred income
554,486
298,630
1,105,964
569,133
Bank loans represent amounts outstanding under the Bounce Back Loan Scheme totalling £Nil (30 April 2022: £45,464). No repayments or interest were due from the company for a period of one year, after which interest was charged at 2.5% p.a. and repayments were due over a period of five years.
Other borrowings include an amount of £Nil (30 April 2022 - £16,858) in respect of a loan repayable over four years, with interest charged at 14.25% p.a. which was secured by way of fixed and floating charges over the company's assets.
Other borrowings include an amount of £Nil (30 April 2022 - £12,756) in respect of a loan repayable over three years, with interest charged at 8% p.a. secured by way of personal guarantees from directors.
During the period ended 31 December 2022, these borrowings and related securities have been cleared in full.
CAPTION DATA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2022
- 9 -
8
Creditors: amounts falling due after more than one year
31 December
30 April
2022
2022
£
£
Bank loans
35,464
Bank loans represent amounts outstanding under the Bounce Back Loan Scheme totalling £Nil (30 April 2022: £45,464). No repayments or interest were due from the company for a period of one year, after which interest was charged at 2.5% p.a. and repayments were due over a period of five years.
During the period ended 31 December 2022, these borrowings and related securities have been cleared in full.
9
Provisions for liabilities
31 December
30 April
2022
2022
£
£
Dilapidations
16,000
-
Movements on provisions:
Dilapidations
£
Charge in the period
16,000
10
Called up share capital
31 December
30 April
31 December
30 April
2022
2022
2022
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 1p each
17,725
17,725
177
177
11
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
Robert Kempson ACA
Statutory Auditor:
Edwards
CAPTION DATA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2022
- 10 -
12
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
31 December
30 April
2022
2022
£
£
77,335
77,836
13
Related party transactions
The company has taken advantage of the exemption conferred within FRS102 section 33.1A not to disclose transactions between wholly owned members of the same group.
During the period the company entered into the following transactions with related parties:
Included within creditors falling due within one year is an amount due to the directors of £Nil (30 April 2022 - £54,000). This loan was interest free and repayable on demand.
14
Parent company
The company's immediate parent undertaking is R3 Polygon UK Ltd.
In the directors opinion, the company's ultimate parent undertaking is PolyStorm Jersey Limited, incorporated in Jersey, of which AEA Investors Fund VII LP is the majority shareholder.
The largest and smallest group which consolidates the results of the company is Polygon Group AB. Copies of the group financial statements may be obtained from Hi Tech Building 21, Sveavagen, 9, 3rd Floor 101 52, Stockholm, Sweden.
2022-12-312022-05-01false30 September 2023CCH SoftwareCCH Accounts Production 2023.200No description of principal activityThis audit opinion is unqualifiedMr J PennMr P SandersMr D SimkinsMr N J BoocockMs C FinsloS A S Liljestrand065576092022-05-012022-12-31065576092022-12-31065576092022-04-3006557609core:FurnitureFittings2022-12-3106557609core:FurnitureFittings2022-04-3006557609core:ShareCapital2022-12-3106557609core:ShareCapital2022-04-3006557609core:SharePremium2022-12-3106557609core:SharePremium2022-04-3006557609core:RetainedEarningsAccumulatedLosses2022-12-3106557609core:RetainedEarningsAccumulatedLosses2022-04-3006557609bus:Director22022-05-012022-12-3106557609core:Goodwill2022-05-012022-12-3106557609core:IntangibleAssetsOtherThanGoodwill2022-05-012022-12-3106557609core:FurnitureFittings2022-05-012022-12-31065576092021-05-012022-04-3006557609core:Goodwill2022-04-3006557609core:DevelopmentCostsCapitalisedDevelopmentExpenditure2022-04-30065576092022-04-3006557609core:Goodwill2022-12-3106557609core:DevelopmentCostsCapitalisedDevelopmentExpenditure2022-12-3106557609core:Goodwillcore:ExternallyAcquiredIntangibleAssets2022-05-012022-12-3106557609core:DevelopmentCostsCapitalisedDevelopmentExpenditurecore:ExternallyAcquiredIntangibleAssets2022-05-012022-12-3106557609core:ExternallyAcquiredIntangibleAssets2022-05-012022-12-3106557609core:Goodwill2022-04-3006557609core:DevelopmentCostsCapitalisedDevelopmentExpenditure2022-04-3006557609core:FurnitureFittings2022-04-3006557609core:CurrentFinancialInstruments2022-12-3106557609core:CurrentFinancialInstruments2022-04-3006557609core:WithinOneYear2022-12-3106557609core:WithinOneYear2022-04-3006557609core:Non-currentFinancialInstruments2022-12-3106557609core:Non-currentFinancialInstruments2022-04-3006557609bus:PrivateLimitedCompanyLtd2022-05-012022-12-3106557609bus:SmallCompaniesRegimeForAccounts2022-05-012022-12-3106557609bus:FRS1022022-05-012022-12-3106557609bus:Audited2022-05-012022-12-3106557609bus:Director12022-05-012022-12-3106557609bus:Director32022-05-012022-12-3106557609bus:Director42022-05-012022-12-3106557609bus:Director52022-05-012022-12-3106557609bus:Director62022-05-012022-12-3106557609bus:FullAccounts2022-05-012022-12-31xbrli:purexbrli:sharesiso4217:GBP