Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31false42022-03-04trueNo description of principal activity0falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13955863 2022-03-03 13955863 2022-03-04 2023-03-31 13955863 2021-03-04 2022-03-03 13955863 2023-03-31 13955863 c:Director3 2022-03-04 2023-03-31 13955863 d:CurrentFinancialInstruments 2023-03-31 13955863 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 13955863 d:ShareCapital 2023-03-31 13955863 d:RetainedEarningsAccumulatedLosses 2023-03-31 13955863 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 13955863 d:FinancialLiabilitiesFairValueThroughProfitOrLoss d:UnlistedNon-exchangeTraded 2023-03-31 13955863 c:OrdinaryShareClass1 2022-03-04 2023-03-31 13955863 c:OrdinaryShareClass1 2023-03-31 13955863 c:OrdinaryShareClass2 2022-03-04 2023-03-31 13955863 c:OrdinaryShareClass2 2023-03-31 13955863 c:FRS102 2022-03-04 2023-03-31 13955863 c:AuditExempt-NoAccountantsReport 2022-03-04 2023-03-31 13955863 c:FullAccounts 2022-03-04 2023-03-31 13955863 c:PrivateLimitedCompanyLtd 2022-03-04 2023-03-31 13955863 6 2022-03-04 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 13955863










SEVENCANYON LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2023

 
SEVENCANYON LIMITED
REGISTERED NUMBER: 13955863

BALANCE SHEET
AS AT 31 MARCH 2023

2023
Note

Fixed assets
  

Investments
 4 
7,644

Current assets
  

Debtors: amounts falling due within one year
 5 
450,000

  
450,000

Creditors: amounts falling due within one year
 6 
(437,794)

Net current assets
  
 
 
12,206

  

Net assets
  
19,850


Capital and reserves
  

Called up share capital 
 8 
100

Profit and loss account
  
19,750

  
19,850


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 period 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 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 16 August 2023.




................................................
P Shah
Director

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

Page 1

 
SEVENCANYON LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

1.


General information

SevenCanyon Limited is a private company, limited by shares, registered in England and Wales under number 13955863.  The registered office is 167-169 Great Portland Street, 5th Floor, London, W1W 5PF.  The trading address is PO Box 100, Attleborough, NR17 2YU.

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

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract 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

 
SEVENCANYON LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

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

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
2.9

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.

 
2.10

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.

 
2.11

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.


3.


Employees

The average monthly number of employees, including directors, during the period was 4.

Page 3

 
SEVENCANYON LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

4.


Fixed asset investments





Investments in subsidiary companies
Investments in associates
Total



Cost or valuation


Additions
7,600
44
7,644



At 31 March 2023
7,600
44
7,644





5.


Debtors

2023


Prepayments and accrued income
450,000



6.


Creditors: Amounts falling due within one year

2023

Trade creditors
341

Amounts owed to group undertakings
413,047

Corporation tax
4,633

Other taxation and social security
14

Other creditors
15,379

Accruals and deferred income
4,380

437,794


Page 4

 
SEVENCANYON LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

7.


Financial instruments

2023

Financial assets


Financial assets measured at fair value through profit or loss
457,644


Financial liabilities


Other financial liabilities measured at fair value through profit or loss
433,414


Financial assets measured at fair value through profit or loss comprise fixed asset investments and accrued income.


Other financial liabilities measured at fair value through profit or loss comprise trade and other creditors, including amounts owed to subsidiary undertakings.


8.


Share capital

2023
Allotted, called up and fully paid


8,250 Ordinary A shares of £0.01 each
82.50
1,750 Ordinary B shares of £0.01 each
17.50

100.00


On incorporation, 2 ordinary A shares were issued at par.  During the period, a further 8,248 ordinary A shares and 1,750 ordinary B shares were issued at par.


9.


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 £54,137. Contributions totalling £15,379 were payable to the fund at the balance sheet date and are included in creditors.


Page 5