Caseware UK (AP4) 2022.0.179 2022.0.179 2022-11-302022-11-302021-11-24falseThe development of software.1falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13763622 2021-11-23 13763622 2021-11-24 2022-11-30 13763622 2020-12-01 2021-11-23 13763622 2022-11-30 13763622 c:Director1 2021-11-24 2022-11-30 13763622 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2021-11-24 2022-11-30 13763622 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-11-30 13763622 d:ComputerSoftware 2021-11-24 2022-11-30 13763622 d:ComputerSoftware 2022-11-30 13763622 d:OtherResidualIntangibleAssets 2021-11-24 2022-11-30 13763622 d:CurrentFinancialInstruments 2022-11-30 13763622 d:Non-currentFinancialInstruments 2022-11-30 13763622 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 13763622 d:Non-currentFinancialInstruments d:AfterOneYear 2022-11-30 13763622 d:ShareCapital 2022-11-30 13763622 d:RetainedEarningsAccumulatedLosses 2022-11-30 13763622 c:FRS102 2021-11-24 2022-11-30 13763622 c:AuditExempt-NoAccountantsReport 2021-11-24 2022-11-30 13763622 c:FullAccounts 2021-11-24 2022-11-30 13763622 c:PrivateLimitedCompanyLtd 2021-11-24 2022-11-30 13763622 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2021-11-24 2022-11-30 13763622 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2021-11-24 2022-11-30 13763622 d:ExternallyAcquiredIntangibleAssets 2021-11-24 2022-11-30 13763622 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2021-11-24 2022-11-30 13763622 d:ComputerSoftware d:OwnedIntangibleAssets 2021-11-24 2022-11-30 iso4217:GBP xbrli:pure

Registered number: 13763622









TENDERIZE LABS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 NOVEMBER 2022

 
TENDERIZE LABS LIMITED
REGISTERED NUMBER: 13763622

BALANCE SHEET
AS AT 30 NOVEMBER 2022

2022
Note
£

Fixed assets
  

Intangible assets
 5 
1,188,388

  
1,188,388

Current assets
  

Debtors: amounts falling due within one year
 6 
601,004

Cash at bank and in hand
 7 
93,090

  
694,094

Creditors: amounts falling due within one year
 8 
(79,173)

Net current assets
  
 
 
614,921

Total assets less current liabilities
  
1,803,309

Creditors: amounts falling due after more than one year
 9 
(2,169,966)

  

Net (liabilities)/assets
  
(366,657)


Capital and reserves
  

Called up share capital 
  
8

Profit and loss account
  
(366,665)

  
(366,657)


Page 1

 
TENDERIZE LABS LIMITED
REGISTERED NUMBER: 13763622
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2022

The director considers 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 period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his 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 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: 




Mr Nico Vergauwen
Director

Date: 16 October 2023

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
TENDERIZE LABS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2022

1.


General information

The company is a private company limited by shares incorporated in England and Wales. The address of its registered office is: Cannon Place, 78 Cannon Street, London, EC4N 6AF. The financial statements are prepared in GBP ("£") which is the functional and presentational currency of the primary economic environment in which the company operates.

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 judgement in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Going concern

The Director is satisfied that, at the time of approving the financial statements, there is a
reasonable expectation that the company has adequate resources to continue in operational
existence for at least the next 12 months. For this reason, the Director continues to adopt the going
concern basis in preparing the financial statements.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

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.

Page 3

 
TENDERIZE LABS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2022

2.Accounting policies (continued)

 
2.5

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.

 The estimated useful lives range as follows:

Development expenditure
-
3
years
Other intangible fixed assets
-
10
years

 
2.6

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.

 
2.7

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.

 
2.8

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.

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Page 4

 
TENDERIZE LABS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2022

3.


Judgements in applying accounting policies 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.
Intangible assets are carried at fair value less cost to sell, which requires estimation as to the fair value
of the intangible asset. Reference to publicly available market data is used to determine the fair value of
each class of intangible asset. 


4.


Employees

The average monthly number of employees, including directors, during the period was 1.


5.


Intangible assets



Development expenditure
Digital assets
Total

£
£
£



Cost


Additions
461,223
2,216,369
2,677,592


Disposals
-
(1,404,226)
(1,404,226)


Revaluation surplus
-
149,977
149,977



At 30 November 2022

461,223
962,120
1,423,343



Amortisation


Charge for the period on owned assets
153,741
221,637
375,378


On disposals
-
(140,423)
(140,423)



At 30 November 2022

153,741
81,214
234,955



Net book value



At 30 November 2022
307,482
880,906
1,188,388



Page 5

 
TENDERIZE LABS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2022

6.


Debtors

2022
£


Other debtors
589,024

Prepayments and accrued income
11,980

601,004



7.


Cash and cash equivalents

2022
£

Cash at bank and in hand
93,090

93,090



8.


Creditors: Amounts falling due within one year

2022
£

Trade creditors
60,696

Corporation tax
2,977

Accruals and deferred income
15,500

79,173



9.


Creditors: Amounts falling due after more than one year

2022
£

Accruals and deferred income
2,169,966

2,169,966


 
Page 6