Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-312022-01-01The company's principal activity is that of data processing.5false6truefalse 10595943 2022-01-01 2022-12-31 10595943 2021-01-01 2021-12-31 10595943 2022-12-31 10595943 2021-12-31 10595943 c:Director1 2022-01-01 2022-12-31 10595943 d:CurrentFinancialInstruments 2022-12-31 10595943 d:CurrentFinancialInstruments 2021-12-31 10595943 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 10595943 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 10595943 d:ShareCapital 2022-12-31 10595943 d:ShareCapital 2021-12-31 10595943 d:RetainedEarningsAccumulatedLosses 2022-12-31 10595943 d:RetainedEarningsAccumulatedLosses 2021-12-31 10595943 c:FRS102 2022-01-01 2022-12-31 10595943 c:Audited 2022-01-01 2022-12-31 10595943 c:FullAccounts 2022-01-01 2022-12-31 10595943 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 10595943 c:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 10595943










BABEL STREET LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
BABEL STREET LIMITED
REGISTERED NUMBER: 10595943

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
814
20,155

Cash at bank and in hand
 5 
5,644
160,257

  
6,458
180,412

Creditors: amounts falling due within one year
 6 
(85,413)
(38,440)

Net current (liabilities)/assets
  
 
 
(78,955)
 
 
141,972

Total assets less current liabilities
  
(78,955)
141,972

  

Net (liabilities)/assets
  
(78,955)
141,972


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(79,055)
141,872

  
(78,955)
141,972


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 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 on 3 October 2023.




E A Bowen
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
BABEL STREET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

Babel Street Limited is a private company limited by shares and registered in England and Wales, registered number 10595943. The registered office address is 14th Floor, 33 Cavendish Square, London, W1G 0PW.

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

The accounts have been prepared on a going concern basis and the directors have considered atleast the next 12 months when assessing this.
The going concern basis has been considered appropriate based on post year end performance and forecasts prepared.

 
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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

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 2

 
BABEL STREET 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

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.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. 

 
2.8

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. 

 
2.9

Creditors

Short-term creditors are measured at the transaction price.

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Page 3

 
BABEL STREET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)


2.10
Financial instruments (continued)


Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2021 -6).


4.


Debtors

2022
2021
£
£


Other debtors
100
19,441

Prepayments and accrued income
714
714

814
20,155



5.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
5,644
160,257


Page 4

 
BABEL STREET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Corporation tax
-
2,055

Other taxation and social security
24,982
18,443

Other creditors
2,348
588

Accruals and deferred income
58,083
17,354

85,413
38,440



7.


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 £3,302 (2021: £2,638). Contributions totalling £2,348 (2021: £587) were payable to the fund at the balance sheet date and are included in creditors.


8.


Controlling party

The controlling party is Babel Street International LLC by virtue of it's 100% shareholding.
The entity has taken advantage of the exemption under FRS 102 from disclosing transactions with the parent company.


9.


Auditors' information

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

The audit report was signed on 4 October 2023 by Rajiv Thakerar (Senior statutory auditor) on behalf of Simmons Gainsford LLP.

 
Page 5