Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31No description of principal activity32022-01-01false13falsetrue 13019072 2022-01-01 2022-12-31 13019072 2020-11-15 2021-12-31 13019072 2022-12-31 13019072 2021-12-31 13019072 c:Director1 2022-01-01 2022-12-31 13019072 c:Director2 2022-01-01 2022-12-31 13019072 c:RegisteredOffice 2022-01-01 2022-12-31 13019072 d:OfficeEquipment 2022-01-01 2022-12-31 13019072 d:OfficeEquipment 2022-12-31 13019072 d:OfficeEquipment 2021-12-31 13019072 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 13019072 d:ComputerEquipment 2022-01-01 2022-12-31 13019072 d:ComputerEquipment 2022-12-31 13019072 d:ComputerEquipment 2021-12-31 13019072 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 13019072 d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 13019072 d:CurrentFinancialInstruments 2022-12-31 13019072 d:CurrentFinancialInstruments 2021-12-31 13019072 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 13019072 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 13019072 d:ShareCapital 2022-12-31 13019072 d:ShareCapital 2021-12-31 13019072 d:RetainedEarningsAccumulatedLosses 2022-12-31 13019072 d:RetainedEarningsAccumulatedLosses 2021-12-31 13019072 c:OrdinaryShareClass1 2022-01-01 2022-12-31 13019072 c:OrdinaryShareClass1 2022-12-31 13019072 c:FRS102 2022-01-01 2022-12-31 13019072 c:Audited 2022-01-01 2022-12-31 13019072 c:FullAccounts 2022-01-01 2022-12-31 13019072 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 13019072 c:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 iso4217:GBP xbrli:shares xbrli:pure


Registered number: 13019072












KARBON (UK) LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

 

KARBON (UK) LIMITED

CONTENTS



Page
Company information
 
1
Balance sheet
 
2
Notes to the financial statements
 
3 - 8


 

KARBON (UK) LIMITED
 
COMPANY INFORMATION


Directors
S McLeod 
F Colich 




Registered number
13019072



Registered office
250 Wharfedale Road
Winnersh Triangle

Berkshire

RG41 5TP




Independent auditor
Blick Rothenberg Audit LLP
Chartered Accountants & Statutory Auditor

16 Great Queen Street

Covent Garden

London

WC2B 5AH




Page 1


 
REGISTERED NUMBER:13019072
KARBON (UK) LIMITED

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
17,254
7,787

Current assets
  

Debtors: amounts falling due within one year
 5 
32,961
5,218

Cash at bank and in hand
  
74,608
90,318

  
107,569
95,536

Creditors: amounts falling due within one year
 6 
(62,689)
(88,503)

Net current assets
  
 
 
44,880
 
 
7,033

Net assets
  
62,134
14,820


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
62,034
14,720

Total equity
  
62,134
14,820


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 profit and loss account 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: 




F Colich
Director

Date: 29 September 2023

Page 2

 

KARBON (UK) LIMITED

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

1.


General information

Karbon (UK) Limited is a private company limited by shares incorporated in England and Wales. The address of its registered office is 250 Wharfedele Road, Winnersh Triangle, Berkshire, England, RG41 5TP
The financial statements are presented in Sterling (£), which is the functional currency of the company.
Monetary amounts in these financial statements are rounded to the nearest £. 
The prior period financial statements were prepared for the 13 month period ended 31 December 2021. The figures reported across the two periods are therefore not entirely comparable.

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

Going concern

After making enquiries, the directors have a reasonable expectation that the company has adequate
resources to continue in operational existence and meet its liabilities as they fall due for the
foreseeable future, being a period of at least twelve months from the date these financial statements
were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial
statements.

  
2.3

Revenue

Revenue represents fees charged to group companies for services provided in the year. 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.

 
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:

Office equipment
-
20%
straight line
Computer equipment
-
33%
straight line

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.

Page 3

 

KARBON (UK) LIMITED

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

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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.

  
2.7

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new
ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.


2.8

Financial instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. 
 
The company’s policies for its major classes of financial assets and financial liabilities are set out below. 

Financial assets
Basic financial assets, including trade and other debtors, cash and bank balances, intercompany working capital balances, and intercompany financing are initially recognised at transaction price, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Page 4

 

KARBON (UK) LIMITED

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

2.Accounting policies (continued)




Financial instruments (continued)

Financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Impairment of financial assets
Financial assets 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 profit and loss account. 

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities
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.

Page 5

 

KARBON (UK) LIMITED

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

2.Accounting policies (continued)

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years.
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 arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.
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.


3.


Employees

The average monthly number of employees, including directors, during the year was 13 (2021 - 3).

Page 6

 

KARBON (UK) LIMITED

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

4.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost 


At 1 January 2022
589
7,922
8,511


Additions
568
16,916
17,484



At 31 December 2022

1,157
24,838
25,995



Depreciation


At 1 January 2022
-
724
724


Charge for the year
284
7,733
8,017



At 31 December 2022

284
8,457
8,741



Net book value



At 31 December 2022
873
16,381
17,254



At 31 December 2021
589
7,198
7,787


5.


Debtors

2022
2021
£
£


Amounts owed by group undertakings
26,635
-

Other debtors
6,326
5,218

32,961
5,218


Page 7

 

KARBON (UK) LIMITED

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

6.


Creditors: amounts falling due within one year

2022
2021
£
£

Trade creditors
2,924
3,360

Amounts owed to group undertakings
-
57,380

Corporation tax
8,328
1,570

Other taxation and social security
25,352
10,591

Other creditors
3,058
1,495

Accruals and deferred income
23,027
14,107

62,689
88,503



7.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



100 (2021 - 100) Ordinary shares of £1 each
100
100

The holders of ordinary shares are entitled to receive dividends as declared from time to time and are
entitled to one vote per share at meetings of the Company.



8.


Related party transactions

The company has taken advantage of the exemption contained in FRS 102 1A section 33 "Related Party
Disclosures" from disclosing transactions with entities which are a wholly owned part of the group.


9.


Parent undertaking

The smallest group for which consolidated financial statements are drawn up is headed by Karbon, Inc., which is registered in USA whose registered office is 548 Market St #45902, San Francisco, California, United States 94104


10.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2022 was unqualified.

The audit report was signed on 2 October 2023 by Nicholas Winters (senior statutory auditor) on behalf of Blick Rothenberg Audit LLP.

 
Page 8