Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-3114true2022-01-01falseNo description of principal activity8truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12452230 2022-01-01 2022-12-31 12452230 2021-01-01 2021-12-31 12452230 2022-12-31 12452230 2021-12-31 12452230 2021-01-01 12452230 2 2022-01-01 2022-12-31 12452230 d:Director3 2022-01-01 2022-12-31 12452230 e:OfficeEquipment 2022-01-01 2022-12-31 12452230 e:OfficeEquipment 2022-12-31 12452230 e:OfficeEquipment 2021-12-31 12452230 e:OfficeEquipment e:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 12452230 e:CurrentFinancialInstruments 2022-12-31 12452230 e:CurrentFinancialInstruments 2021-12-31 12452230 e:CurrentFinancialInstruments e:WithinOneYear 2022-12-31 12452230 e:CurrentFinancialInstruments e:WithinOneYear 2021-12-31 12452230 e:ShareCapital 2022-01-01 2022-12-31 12452230 e:ShareCapital 2022-12-31 12452230 e:ShareCapital 2021-01-01 2021-12-31 12452230 e:ShareCapital 2021-12-31 12452230 e:ShareCapital 2021-01-01 12452230 e:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 12452230 e:RetainedEarningsAccumulatedLosses 2022-12-31 12452230 e:RetainedEarningsAccumulatedLosses 2 2022-01-01 2022-12-31 12452230 e:RetainedEarningsAccumulatedLosses 2021-01-01 2021-12-31 12452230 e:RetainedEarningsAccumulatedLosses 2021-12-31 12452230 e:RetainedEarningsAccumulatedLosses 2021-01-01 12452230 d:OrdinaryShareClass1 2022-01-01 2022-12-31 12452230 d:OrdinaryShareClass1 2022-12-31 12452230 d:OrdinaryShareClass1 2021-12-31 12452230 d:FRS102 2022-01-01 2022-12-31 12452230 d:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 12452230 d:FullAccounts 2022-01-01 2022-12-31 12452230 d:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 xbrli:shares iso4217:GBP xbrli:pure


Registered number: 12452230












ALLBOUND UK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022


 
REGISTERED NUMBER:12452230
ALLBOUND UK LIMITED

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
4,280

  
-
4,280

Current assets
  

Debtors: amounts falling due within one year
 5 
226,407
84,919

Cash at bank and in hand
  
25,865
59,552

  
252,272
144,471

Creditors: amounts falling due within one year
 6 
(79,869)
(83,788)

Net current assets
  
 
 
172,403
 
 
60,683

Total assets less current liabilities
  
172,403
64,963

  

Net assets
  
172,403
64,963


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
172,303
64,863

Total equity
  
172,403
64,963


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 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: 

L M Henderson
Director

Date: 29 September 2023

The notes on pages 4 to 9 form part of these financial statements.
Page 1


 
REGISTERED NUMBER:12452230
ALLBOUND UK LIMITED
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022


Page 2

 

ALLBOUND UK LIMITED

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2022


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 January 2021
100
22,056
22,156


Comprehensive income for the year

Profit for the year
-
42,807
42,807
Total comprehensive income for the year
-
42,807
42,807



At 1 January 2022
100
64,863
64,963


Comprehensive income for the year

Profit for the year
-
95,872
95,872
Total comprehensive income for the year
-
95,872
95,872


Contributions by and distributions to owners

Equity settled share based payment charge
-
11,568
11,568


Total transactions with owners
-
11,568
11,568


At 31 December 2022
100
172,303
172,403


Page 3

 

ALLBOUND UK LIMITED

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

1.


General information

Allbound UK Limited is a private company limited by shares incorporated in England and Wales. The address of  its registered office is 5 New Street Square, London, EC4A 3TW.
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 £.

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 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

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 forseeable 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 from contracts to provide sales and marketing services to the parent company is recognised in the period in which the services are provided. Revenue is recognised to the extent that is probable that the company will receive the consideration due under the contract and amount of revenue can be measured reliably. Revenue is measured as the fair value of the consideration received or receivable, excluding value added tax.

 
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.

Page 4

 

ALLBOUND UK LIMITED

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

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

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
-
33%
on straight line basis

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

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 other debtors, cash and bank balances, intercompany working capital balances 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.

Financial liabilities

Basic financial liabilities, including trade and other creditors 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.

Page 5

 

ALLBOUND UK LIMITED

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

2.Accounting policies (continued)





Financial instruments (continued)

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.

  
2.6

Share capital

Ordinary shares are classified as equity.

 
2.7

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.

Page 6

 

ALLBOUND UK LIMITED

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

2.Accounting policies (continued)

 
2.8

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.

 
2.9

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is Sterling (£).

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 profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'administrative expenses'.

  
2.10

Taxation

The tax expense for the year comprises of current 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

 
2.11

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 7

 

ALLBOUND UK LIMITED

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

2.Accounting policies (continued)

 
2.12

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 14 (2021 -8).


4.


Tangible fixed assets





Office equipment

£



Cost


At 1 January 2022
8,775



At 31 December 2022

8,775



Depreciation


At 1 January 2022
4,495


Charge for the year
4,280



At 31 December 2022

8,775



Net book value



At 31 December 2022
-



At 31 December 2021
4,280

Page 8

 

ALLBOUND UK LIMITED

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

5.


Debtors

2022
2021
£
£


Amounts owed by group undertakings
226,407
84,919



6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
16,291
5,801

Corporation tax
10,000
10,267

Other taxation and social security
32,544
23,497

Accruals and deferred income
21,034
44,223

79,869
83,788



7.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



100 (2021 -100) Ordinary shares of £1.00 each
100
100



8.


Contingent liabilities

The parent company has entered into a financing arrangement with its bankers which is partly secured over the assets of the UK company.  As at 31 December 2022 the liability was US$10,000,000 (2021: US$3,000,000).


9.


Related party transactions

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

 
Page 9