Caseware UK (AP4) 2022.0.179 2022.0.179 2022-05-01falseNo description of principal activity1210truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03183925 2022-05-01 2023-04-30 03183925 2021-05-01 2022-04-30 03183925 2023-04-30 03183925 2022-04-30 03183925 2021-05-01 03183925 c:Director1 2022-05-01 2023-04-30 03183925 d:FurnitureFittings 2022-05-01 2023-04-30 03183925 d:FurnitureFittings 2023-04-30 03183925 d:FurnitureFittings 2022-04-30 03183925 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 03183925 d:OfficeEquipment 2022-05-01 2023-04-30 03183925 d:OfficeEquipment 2023-04-30 03183925 d:OfficeEquipment 2022-04-30 03183925 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 03183925 d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 03183925 d:CurrentFinancialInstruments 2023-04-30 03183925 d:CurrentFinancialInstruments 2022-04-30 03183925 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 03183925 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 03183925 d:ShareCapital 2023-04-30 03183925 d:ShareCapital 2022-04-30 03183925 d:ShareCapital 2021-05-01 03183925 d:RetainedEarningsAccumulatedLosses 2022-05-01 2023-04-30 03183925 d:RetainedEarningsAccumulatedLosses 2023-04-30 03183925 d:RetainedEarningsAccumulatedLosses 2021-05-01 2022-04-30 03183925 d:RetainedEarningsAccumulatedLosses 2022-04-30 03183925 d:RetainedEarningsAccumulatedLosses 2021-05-01 03183925 c:OrdinaryShareClass1 2022-05-01 2023-04-30 03183925 c:OrdinaryShareClass1 2023-04-30 03183925 c:OrdinaryShareClass1 2022-04-30 03183925 c:FRS102 2022-05-01 2023-04-30 03183925 c:AuditExempt-NoAccountantsReport 2022-05-01 2023-04-30 03183925 c:FullAccounts 2022-05-01 2023-04-30 03183925 c:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 03183925 2 2022-05-01 2023-04-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 03183925










Etymax Limited








Unaudited

Financial statements

For the Year Ended 30 April 2023

 
Etymax Limited
Registered number: 03183925

Balance Sheet
As at 30 April 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
12,987
15,748

  
12,987
15,748

Current assets
  

Debtors: amounts falling due within one year
 5 
153,735
247,336

Cash at bank and in hand
  
167,386
339,189

  
321,121
586,525

Creditors: amounts falling due within one year
 6 
(177,715)
(329,133)

Net current assets
  
 
 
143,406
 
 
257,392

Total assets less current liabilities
  
156,393
273,140

  

Net assets
  
156,393
273,140


Capital and reserves
  

Called up share capital 
 7 
4
4

Profit and loss account
 8 
156,389
273,136

  
156,393
273,140


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 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: 




F K Johnstone
Director
Date: 17 October 2023

The notes on pages 3 to 8 form part of these financial statements.

Page 1

 
Etymax Limited
 

Statement of Changes in Equity
For the Year Ended 30 April 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 May 2021
4
286,458
286,462


Comprehensive income for the year

Profit for the year
-
192,678
192,678


Contributions by and distributions to owners

Dividends: Equity capital
-
(206,000)
(206,000)



At 1 May 2022
4
273,136
273,140


Comprehensive income for the year

Profit for the year
-
86,253
86,253


Contributions by and distributions to owners

Dividends: Equity capital
-
(203,000)
(203,000)


At 30 April 2023
4
156,389
156,393


The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
Etymax Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 2023

1.


General information

The company is a private limited company, incorporated and domiciled in England & Wales. The company's registered office is 2nd Floor, 168 Shoreditch High Street, London, E1 6RA. The Company's trading address is 6 Bickels Yard, 151-153 Bermondsey Street, London, SE1 3HA. The principal activity of the company continued to be that of a translation agency.

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

Turnover

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.

 
2.3

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 3

 
Etymax Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 2023

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures & fittings
-
25%
reducing balance

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.

 
2.4

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.

 
2.5

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.

 
2.6

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.

 
2.7

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.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. 

Page 4

 
Etymax Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 2023

2.Accounting policies (continued)

 
2.9

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.

 
2.10

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.

 
2.11

Interest income

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

 
2.12

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 12 (2022 - 10).

Page 5

 
Etymax Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 2023

4.


Tangible fixed assets





Fixtures & fittings
Furniture, fittings and equipment
Total

£
£
£



Cost or valuation


At 1 May 2022
5,156
26,435
31,591


Additions
-
3,251
3,251


Disposals
-
(7,660)
(7,660)



At 30 April 2023

5,156
22,026
27,182



Depreciation


At 1 May 2022
4,708
11,135
15,843


Charge for the year on owned assets
112
3,709
3,821


Disposals
-
(5,469)
(5,469)



At 30 April 2023

4,820
9,375
14,195



Net book value



At 30 April 2023
336
12,651
12,987



At 30 April 2022
448
15,300
15,748

Page 6

 
Etymax Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 2023

5.


Debtors

2023
2022
£
£


Trade debtors
142,338
236,084

Other debtors
-
1,217

Prepayments and accrued income
11,397
10,035

153,735
247,336



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
64,586
98,582

Corporation tax
21,210
44,837

Other taxation and social security
66,512
142,211

Other creditors
11,008
8,372

Accruals and deferred income
14,399
35,131

177,715
329,133



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



4 (2022 - 4) Ordinary shares of £1.00 each
4
4



8.


Reserves

Profit & loss account

The profit and loss account comprises all current and prior period retained profits and losses.
Share Capital
This represents the nominal value of shares that have been issued by the company.
 


9.


Dividends

2023
2022
£
£


Interim Dividends paid on equity capital
203,000
206,000

Page 7

 
Etymax Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 2023

10.


Pension commitments

The company operates a defined contribution 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 £21,042 (2022 - £100,355). Contributions totalling £1,504 (2022 - £1,870) were payable to the fund at the balance sheet date and are included in creditors.


11.


Related party transactions

During the year the company operated directors loan accounts with its directors. At the year end F K Johnstone and S L West owed the company £Nil (2022: £330) and £Nil (2022: £887) respectively.


12.


Controlling party

The company is controlled by its directors, F K Johnstone and S L West.


Page 8