Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.Publishing activities, information technology service activities & - Other human health activities2022-04-01false85truetrue 10810854 2022-04-01 2023-03-31 10810854 2021-04-01 2022-03-31 10810854 2023-03-31 10810854 2022-03-31 10810854 c:Director1 2022-04-01 2023-03-31 10810854 c:Director2 2022-04-01 2023-03-31 10810854 d:OfficeEquipment 2022-04-01 2023-03-31 10810854 d:ComputerEquipment 2022-04-01 2023-03-31 10810854 d:ComputerEquipment 2023-03-31 10810854 d:ComputerEquipment 2022-03-31 10810854 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 10810854 d:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 10810854 d:OtherPropertyPlantEquipment 2023-03-31 10810854 d:OtherPropertyPlantEquipment 2022-03-31 10810854 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 10810854 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 10810854 d:ComputerSoftware 2023-03-31 10810854 d:ComputerSoftware 2022-03-31 10810854 d:CurrentFinancialInstruments 2023-03-31 10810854 d:CurrentFinancialInstruments 2022-03-31 10810854 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10810854 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 10810854 d:ShareCapital 2023-03-31 10810854 d:ShareCapital 2022-03-31 10810854 d:RetainedEarningsAccumulatedLosses 2023-03-31 10810854 d:RetainedEarningsAccumulatedLosses 2022-03-31 10810854 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 10810854 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 10810854 c:OrdinaryShareClass1 2022-04-01 2023-03-31 10810854 c:OrdinaryShareClass1 2023-03-31 10810854 c:OrdinaryShareClass1 2022-03-31 10810854 c:OrdinaryShareClass2 2022-04-01 2023-03-31 10810854 c:OrdinaryShareClass2 2023-03-31 10810854 c:OrdinaryShareClass2 2022-03-31 10810854 c:FRS102 2022-04-01 2023-03-31 10810854 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 10810854 c:FullAccounts 2022-04-01 2023-03-31 10810854 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 10810854 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2022-04-01 2023-03-31 10810854 2 2022-04-01 2023-03-31 10810854 d:ComputerSoftware d:OwnedIntangibleAssets 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10810854










PSYCHOLOGY TOOLS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
PSYCHOLOGY TOOLS LIMITED
REGISTERED NUMBER: 10810854

BALANCE SHEET
AS AT 31 MARCH 2023

As restated
2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
37,792
-

Tangible assets
 5 
126,172
102,093

  
163,964
102,093

Current assets
  

Debtors: amounts falling due within one year
 6 
205,203
105,876

Cash at bank and in hand
 7 
1,769,609
1,135,672

  
1,974,812
1,241,548

Current liabilities
  

Creditors: amounts falling due within one year
 8 
(1,684,256)
(1,050,539)

Total assets less current liabilities
  
 
 
454,520
 
 
293,102

Provisions for liabilities
  

Deferred tax
 9 
(31,543)
(19,397)

  
 
 
(31,543)
 
 
(19,397)

Net assets
  
422,977
273,705


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
  
422,877
273,605

  
422,977
273,705


Page 1

 
PSYCHOLOGY TOOLS LIMITED
REGISTERED NUMBER: 10810854

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 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: 




M Whalley
L Meteyard
Director
Director


Date: 19 October 2023
Date:19 October 2023

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
PSYCHOLOGY TOOLS LIMITED
 

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

1.


General information

Psychology Tools Limited is a private Company limited by shares and incorporated in England and Wales.

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
PSYCHOLOGY TOOLS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 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:

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

Interest income

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

 
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.

Page 4

 
PSYCHOLOGY TOOLS LIMITED
 

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

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
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.

Page 5

 
PSYCHOLOGY TOOLS LIMITED
 

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

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

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
-
20%
Computer equipment
-
33%
Other fixed assets
-
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.

 
2.12

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.13

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.

Page 6

 
PSYCHOLOGY TOOLS LIMITED
 

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

2.Accounting policies (continued)

 
2.14

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2022 - 5).


4.


Intangible assets




Other intangible assets

£



Cost


Additions
40,000



At 31 March 2023

40,000



Amortisation


Charge for the year on owned assets
2,208



At 31 March 2023

2,208



Net book value



At 31 March 2023
37,792



At 31 March 2022
-



Page 7

 
PSYCHOLOGY TOOLS LIMITED
 

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

5.


Tangible fixed assets





Computer & office equipment
Website
Total

£
£
£



Cost or valuation


At 1 April 2022
39,212
178,148
217,360


Additions
17,970
77,396
95,366



At 31 March 2023

57,182
255,544
312,726



Depreciation


At 1 April 2022
18,809
96,458
115,267


Charge for the year on owned assets
11,465
59,822
71,287



At 31 March 2023

30,274
156,280
186,554



Net book value



At 31 March 2023
26,908
99,264
126,172



At 31 March 2022
20,403
81,690
102,093


6.


Debtors

2023
2022
£
£


Trade debtors
184,556
70,219

Other debtors
344
27,876

Prepayments and accrued income
20,303
7,781

205,203
105,876



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,769,609
1,135,672


Page 8

 
PSYCHOLOGY TOOLS LIMITED
 

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

8.


Creditors: Amounts falling due within one year

As restated
2023
2022
£
£

Trade creditors
480
-

Corporation tax
195,517
93,044

Other taxation and social security
71,320
32,736

Other creditors
5
1,304

Accruals and deferred income
1,416,934
923,455

1,684,256
1,050,539



9.


Deferred taxation




2023


£






At beginning of year
(19,397)


Charged to profit or loss
(12,146)



At end of year
(31,543)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(31,543)
(19,397)

(31,543)
(19,397)


10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



80 (2022 - 80) Ordinary A shares of £1.00 each
80
80
20 (2022 - 20) Ordinary B shares of £1.00 each
20
20

100

100


Page 9

 
PSYCHOLOGY TOOLS LIMITED
 

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

11.


Prior year adjustment

A prior year adjustment has been made to correct the deferred income position as at 31 March 2021. The effect of the adjustment has been to increase deferred income by £54,599 and decrease turnover by £54,599 and a corresponding decrease to the tax charge of £10,374.


12.


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 £9,254 (2022 - £4,177). 
Contributions totalling £nil (2022 - £1,304) were payable to the fund at the balance sheet date and are included in creditors. Contributions totalling £277 (2022 - £nil) were receivable from the fund at the balance sheet date and are included in debtors. An amount of £44,000 (2022 - £80,000) was also paid in respect of directors' pensions during the year.

Page 10