Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31No description of principal activity02022-01-010falsefalsetrue 12070197 2022-01-01 2022-12-31 12070197 2021-01-01 2021-12-31 12070197 2022-12-31 12070197 2021-12-31 12070197 1 2022-01-01 2022-12-31 12070197 d:Director4 2022-01-01 2022-12-31 12070197 c:CurrentFinancialInstruments 2022-12-31 12070197 c:CurrentFinancialInstruments 2021-12-31 12070197 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 12070197 c:CurrentFinancialInstruments c:WithinOneYear 2021-12-31 12070197 c:ShareCapital 2022-12-31 12070197 c:ShareCapital 2021-12-31 12070197 c:RetainedEarningsAccumulatedLosses 2022-12-31 12070197 c:RetainedEarningsAccumulatedLosses 2021-12-31 12070197 d:FRS102 2022-01-01 2022-12-31 12070197 d:Audited 2022-01-01 2022-12-31 12070197 d:FullAccounts 2022-01-01 2022-12-31 12070197 d:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 12070197 d:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 12070197









6 RIVER SYSTEMS LTD









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
6 RIVER SYSTEMS LTD
REGISTERED NUMBER: 12070197

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
7,035
6,121

  
7,035
6,121

Creditors: amounts falling due within one year
 5 
(5,079)
(4,310)

Net current assets
  
 
 
1,956
 
 
1,811

Total assets less current liabilities
  
1,956
1,811

  

Net assets
  
1,956
1,811


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,856
1,711

  
1,956
1,811


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 profit and loss account 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: 




................................................
N Abrams
Director

Date: 18 October 2023

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

Page 1

 
6 RIVER SYSTEMS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

6 River Systems Ltd (the Company) is a company incorporated in the United Kingdom under the Companies Act. The Company is a private company limited by shares and is registered in England and Wales. The registered office is Buildings One and Two Trident Place, Mosquito Way, Hatfield, Hertfordshore, AL10 9UL.
The principal activity of the Company in the period under review was to faciliate the sales process in the UK, by generating sales leads and meeting with potential customers on behalf of the parent company, who sell a warehouse automation system, composed of software and robotics hardware.
The presentation currency of the financial statements is GBP and balances are rounded to the nearest whole £.

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 Company has obtained a letter of support from 6 River Systems LLC, its immediate parent company. The directors of 6 River Systems LLC have provided a financial commitment to provide any financial support which may be necessary in order that the Company can meet its liabilities, as they fall due and for the foreseeable future.
As a result of the above the directors of the Company have continued to adopt the going concern basis in preparing these financial statements.

 
2.3

Revenue

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
The Company is controlled by its ultimate parent company, Shopify, Inc., to provide services within specific, contracted regions. The Company is remunerated by its parent for these services. The total turnover of the Company for the year has been derived from its principal activity in the UK. Intercompany revenue is based on a service agreement with the parent. The turnover is recognised at 100% of cost, plus 5% mark up on cost.

Page 2

 
6 RIVER SYSTEMS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.4

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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.5

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.

 
2.6

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.

Page 3

 
6 RIVER SYSTEMS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.7

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.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

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 Company has no employees other than the directors, who did not receive any remuneration (2021 - £NIL).

Page 4

 
6 RIVER SYSTEMS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

4.


Debtors

2022
2021
£
£


Amounts owed by group undertakings
7,035
3,591

Other debtors
-
2,530

7,035
6,121



5.


Creditors: Amounts falling due within one year

2022
2021
£
£

Corporation tax
104
60

Accruals and deferred income
4,975
4,250

5,079
4,310



6.


Post balance sheet events

Subsequent to the balance sheet date on 30 June 2023 the immediate parent company, 6 River Systems, LLC, was acquired by the Ocado group. As such, the ultimate parent undertaking and controlling party is now Ocado Group plc, a company incorporated in the United Kingdom. As part of this acquisition directors of the Company are now included within Ocado Group liability insurance and are indemnified under an indemnity deed between Ocado Group Plc and each director.


7.


Controlling party

6 River Systems, LLC, (incorporated in USA) is regarded by the directors as being the Company’s immediate parent company. For the financial period  Shopify Inc, (incorporated in Canada) is regarded by the directors as being the Company’s ultimate parent company. Subsequent to the balance sheet date, as per note 6, the ultimate parent company changed.
The smallest company for which the group accounts have been prepared and which includes 6 River Systems Ltd, was that headed by 6 River Systems, LLC. The largest company for which group accounts have been prepared and which includes 6 River Systems Ltd is that headed by Shopify Inc, with its principal place of business at 151 O’Connor Street, Ground Floor Ottawa, Ontario, Canada K2P 2L8.


8.


Auditor's information

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

The audit report was signed on 18 October 2023 by Simon Buss (Senior Statutory Auditor) on behalf of Nortons Assurance Limited.

 
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