Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-302022-07-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falseNo description of principal activity32truetrue 03336119 2022-07-01 2023-06-30 03336119 2021-07-01 2022-06-30 03336119 2023-06-30 03336119 2022-06-30 03336119 c:Director1 2022-07-01 2023-06-30 03336119 d:FurnitureFittings 2022-07-01 2023-06-30 03336119 d:FurnitureFittings 2023-06-30 03336119 d:FurnitureFittings 2022-06-30 03336119 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 03336119 d:ComputerEquipment 2022-07-01 2023-06-30 03336119 d:ComputerEquipment 2023-06-30 03336119 d:ComputerEquipment 2022-06-30 03336119 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 03336119 d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 03336119 d:CurrentFinancialInstruments 2023-06-30 03336119 d:CurrentFinancialInstruments 2022-06-30 03336119 d:Non-currentFinancialInstruments 2023-06-30 03336119 d:Non-currentFinancialInstruments 2022-06-30 03336119 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 03336119 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 03336119 d:UKTax 2022-07-01 2023-06-30 03336119 d:UKTax 2021-07-01 2022-06-30 03336119 d:ShareCapital 2023-06-30 03336119 d:ShareCapital 2022-06-30 03336119 d:RetainedEarningsAccumulatedLosses 2023-06-30 03336119 d:RetainedEarningsAccumulatedLosses 2022-06-30 03336119 c:FRS102 2022-07-01 2023-06-30 03336119 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 03336119 c:FullAccounts 2022-07-01 2023-06-30 03336119 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 03336119 2 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure
Registered number: 03336119
















BRUHN NEWTECH LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
















Fletcher & Partners
Chartered Accountants
Salisbury

 
BRUHN NEWTECH LIMITED
REGISTERED NUMBER: 03336119

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
2,778
2,575

Current assets
  

Debtors: amounts falling due after more than one year
 6 
4,125
4,125

Debtors: amounts falling due within one year
 6 
263,732
407,636

Cash at bank and in hand
 7 
651,698
248,086

  
919,555
659,847

Creditors: amounts falling due within one year
 8 
(685,964)
(304,362)

Net current assets
  
 
 
233,591
 
 
355,485

  

Net assets
  
236,369
358,060


Capital and reserves
  

Called up share capital 
  
50,000
50,000

Profit and loss account
  
186,369
308,060

  
236,369
358,060


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 year 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: 




E J Ellinghaus
Director

Date: 12 October 2023

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 
BRUHN NEWTECH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

Bruhn Newtech Limited is a private company limited by shares and incorporated in England and Wales, registered number 03336119. The registered office of the company is Suite 3, Warner House, Castle Street, Salisbury, Wiltshire, SP1 3TB.

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

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

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.

Page 2

 
BRUHN NEWTECH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
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.

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

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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

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.

Page 3

 
BRUHN NEWTECH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.7

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.

 
2.8

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:

Fixtures and fittings
-
33%
Computer equipment
-
33%

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.

 
2.9

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

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.

 
2.11

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.

Page 4

 
BRUHN NEWTECH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

  
2.12

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.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 2).


4.


Taxation


2023
2022
£
£

Corporation tax


Current tax on profits for the year
-
4,751



Factors affecting tax charge for the year

The tax assessed for the year is higher than (2022 - lower than) the standard rate of corporation tax in the UK of 19% (2022 - 19%). The differences are explained below:
2023
2022
£
£


(Loss)/profit on ordinary activities before tax
(21,690)
34,013


(Loss)/profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 19% (2022 - 19%)
(4,121)
6,462

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
139
213

Capital allowances for year in excess of depreciation
(239)
719

Utilisation of tax losses
-
(2,643)

Unrelieved tax losses carried forward
4,221
-

Total tax charge for the year
-
4,751


Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 5

 
BRUHN NEWTECH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

5.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 July 2022
10,479
38,852
49,331


Additions
292
3,225
3,517



At 30 June 2023

10,771
42,077
52,848



Depreciation


At 1 July 2022
10,018
36,738
46,756


Charge for the year on owned assets
437
2,877
3,314



At 30 June 2023

10,455
39,615
50,070



Net book value



At 30 June 2023
316
2,462
2,778



At 30 June 2022
461
2,114
2,575


6.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors
4,125
4,125


2023
2022
£
£

Due within one year

Trade debtors
246,196
243,235

Amounts owed by group undertakings
-
142,789

Other debtors
72
72

Prepayments and accrued income
17,464
21,540

263,732
407,636


Page 6

 
BRUHN NEWTECH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
651,698
248,086



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
2,296
8,414

Amounts owed to group undertakings
424,242
-

Corporation tax
-
4,751

Other taxation and social security
40,186
105,948

Other creditors
4,290
3,791

Accruals and deferred income
214,950
181,458

685,964
304,362



9.


Controlling party

The company's immediate parent undertaking is Bruhn NewTech A/S which is incorporated in Denmark. It has included the company in its group accounts, copies of which are available from its registered office: Vandtaarnsvej 62A 2860 Soeborg, Denmark.


Page 7