Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01falseNo description of principal activity77truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12281293 2022-04-01 2023-03-31 12281293 2021-04-01 2022-03-31 12281293 2023-03-31 12281293 2022-03-31 12281293 c:Director1 2022-04-01 2023-03-31 12281293 c:Director2 2022-04-01 2023-03-31 12281293 d:OfficeEquipment 2022-04-01 2023-03-31 12281293 d:OfficeEquipment 2023-03-31 12281293 d:OfficeEquipment 2022-03-31 12281293 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 12281293 d:ComputerEquipment 2022-04-01 2023-03-31 12281293 d:ComputerEquipment 2023-03-31 12281293 d:ComputerEquipment 2022-03-31 12281293 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 12281293 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 12281293 d:CurrentFinancialInstruments 2023-03-31 12281293 d:CurrentFinancialInstruments 2022-03-31 12281293 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 12281293 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 12281293 d:ShareCapital 2023-03-31 12281293 d:ShareCapital 2022-03-31 12281293 d:SharePremium 2022-04-01 2023-03-31 12281293 d:SharePremium 2023-03-31 12281293 d:SharePremium 2022-03-31 12281293 d:OtherMiscellaneousReserve 2022-04-01 2023-03-31 12281293 d:OtherMiscellaneousReserve 2023-03-31 12281293 d:OtherMiscellaneousReserve 2022-03-31 12281293 d:RetainedEarningsAccumulatedLosses 2023-03-31 12281293 d:RetainedEarningsAccumulatedLosses 2022-03-31 12281293 c:OrdinaryShareClass1 2022-04-01 2023-03-31 12281293 c:OrdinaryShareClass1 2023-03-31 12281293 c:OrdinaryShareClass1 2022-03-31 12281293 c:FRS102 2022-04-01 2023-03-31 12281293 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 12281293 c:FullAccounts 2022-04-01 2023-03-31 12281293 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 12281293 2 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12281293









DWEET LTD








FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
DWEET LTD
REGISTERED NUMBER: 12281293

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
£
£

Fixed assets
  

Tangible assets
 4 
3,247
2,589

  
3,247
2,589

Current assets
  

Debtors: amounts falling due within one year
 5 
452,091
216,546

Cash at bank and in hand
 6 
819,844
228,426

  
1,271,935
444,972

Creditors: amounts falling due within one year
 7 
(495,341)
(272,468)

Net current assets
  
 
 
776,594
 
 
172,504

Total assets less current liabilities
  
779,841
175,093

  

Net assets
  
779,841
175,093


Capital and reserves
  

Called up share capital 
 8 
15,392
14,059

Share premium account
 9 
1,037,591
115,941

Other reserves
 9 
634,447
300,000

Profit and loss account
 9 
(907,589)
(254,907)

  
779,841
175,093


Page 1

 
DWEET LTD
REGISTERED NUMBER: 12281293
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

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 income and retained earnings 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 P Duane
................................................
L Piffaut
Director
Director


Date: 19 October 2023
Date:19 October 2023

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
DWEET LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Dweet Ltd is a private company limited by shares. The company was incorporated in England & Wales and its registered office address is Aston House, Cornwall Avenue, London, England, N3 1LF. The company registration number is 12281293. 

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

Whilst the company is in a net liabilities position, it retains the support of its shareholders and as such the director considers it appropriate to prepare the accounts on a going concern basis.

 
2.3

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 3

 
DWEET LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

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.

 
2.5

Government 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 Income and Retained Earnings in the same period as the related expenditure.

 
2.6

Interest income

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

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

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 4

 
DWEET LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.9

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:

Office equipment
-
25%
straight line
Computer equipment
-
25%
straight line

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.

 
2.10

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.

 
2.11

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.

 
2.12

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2022 - 7).

Page 5

 
DWEET LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 April 2022
806
3,143
3,949


Additions
337
1,860
2,197



At 31 March 2023

1,143
5,003
6,146



Depreciation


At 1 April 2022
388
974
1,362


Charge for the year on owned assets
286
1,251
1,537



At 31 March 2023

674
2,225
2,899



Net book value



At 31 March 2023
469
2,778
3,247


5.


Debtors

2023
2022
£
£


Trade debtors
331,846
173,763

Other debtors
117,580
42,783

Prepayments and accrued income
2,665
-

452,091
216,546



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
819,844
228,426

819,844
228,426


Page 6

 
DWEET LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
-
1,183

Trade creditors
277,000
140,897

Other taxation and social security
21,023
32,999

Other creditors
196,818
96,889

Accruals and deferred income
500
500

495,341
272,468



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,539,195 (2022 - 1,405,858) Ordinary A1 Shares shares of £0.01 each
15,392
14,059


On 28 June 2022, 23,828 Ordinary A1 shares of £0.01 each were issued for a total consideration of £149,762. 
On 29 June 2022, 61,905 Ordinary A1 shares of £0.01 each were issued for a total consideration of £389,381. 
On 25 January 2023, 47,602 Ordinary A1 shares of £0.01 each were issued for a total consideration of £382,507. 
The total premium received over the nominal value of the shares issued costs have been transferred to the share premium account. 


9.


Reserves

Share premium account

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Other reserves

As at 31 March 2023 the Company had received £634,448 in relation to 90,205 Ordinary A1 Shares of £0.01 each that were issued post year end. 


10.


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 £4,493 (2022: £709)

 
Page 7