Caseware UK (AP4) 2022.0.179 2022.0.179 2022-09-302022-09-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true2021-10-01falseNo description of principal activity44true 10051829 2021-10-01 2022-09-30 10051829 2020-10-01 2021-09-30 10051829 2022-09-30 10051829 2021-09-30 10051829 c:Director1 2021-10-01 2022-09-30 10051829 d:PlantMachinery 2021-10-01 2022-09-30 10051829 d:PlantMachinery 2022-09-30 10051829 d:PlantMachinery 2021-09-30 10051829 d:PlantMachinery d:OwnedOrFreeholdAssets 2021-10-01 2022-09-30 10051829 d:MotorVehicles 2021-10-01 2022-09-30 10051829 d:MotorVehicles 2022-09-30 10051829 d:MotorVehicles 2021-09-30 10051829 d:MotorVehicles d:OwnedOrFreeholdAssets 2021-10-01 2022-09-30 10051829 d:FurnitureFittings 2021-10-01 2022-09-30 10051829 d:FurnitureFittings 2022-09-30 10051829 d:FurnitureFittings 2021-09-30 10051829 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-10-01 2022-09-30 10051829 d:ComputerEquipment 2021-10-01 2022-09-30 10051829 d:ComputerEquipment 2022-09-30 10051829 d:ComputerEquipment 2021-09-30 10051829 d:ComputerEquipment d:OwnedOrFreeholdAssets 2021-10-01 2022-09-30 10051829 d:OwnedOrFreeholdAssets 2021-10-01 2022-09-30 10051829 d:Goodwill 2021-10-01 2022-09-30 10051829 d:Goodwill 2022-09-30 10051829 d:Goodwill 2021-09-30 10051829 d:CurrentFinancialInstruments 2022-09-30 10051829 d:CurrentFinancialInstruments 2021-09-30 10051829 d:Non-currentFinancialInstruments 2022-09-30 10051829 d:Non-currentFinancialInstruments 2021-09-30 10051829 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 10051829 d:CurrentFinancialInstruments d:WithinOneYear 2021-09-30 10051829 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-09-30 10051829 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-09-30 10051829 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-09-30 10051829 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-09-30 10051829 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-09-30 10051829 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2021-09-30 10051829 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-09-30 10051829 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2021-09-30 10051829 c:FRS102 2021-10-01 2022-09-30 10051829 c:AuditExempt-NoAccountantsReport 2021-10-01 2022-09-30 10051829 c:AbridgedAccounts 2021-10-01 2022-09-30 10051829 c:PrivateLimitedCompanyLtd 2021-10-01 2022-09-30 10051829 d:HirePurchaseContracts d:WithinOneYear 2022-09-30 10051829 d:HirePurchaseContracts d:WithinOneYear 2021-09-30 10051829 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-09-30 10051829 d:HirePurchaseContracts d:BetweenOneFiveYears 2021-09-30 10051829 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-09-30 10051829 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2021-09-30 10051829 d:LeasedAssetsHeldAsLessee 2022-09-30 10051829 d:LeasedAssetsHeldAsLessee 2021-09-30 10051829 d:Goodwill d:OwnedIntangibleAssets 2021-10-01 2022-09-30 iso4217:GBP xbrli:pure

Registered number: 10051829









ALCHEMIST DB LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2022

 
ALCHEMIST DB LIMITED
REGISTERED NUMBER: 10051829

BALANCE SHEET
AS AT 30 SEPTEMBER 2022

2022
2021
£
£


Fixed assets
19,244
19,914

Current assets
52,626
17,226

Creditors: amounts falling due within one year
(190,814)
(115,541)

Net current liabilities
 
 
(138,188)
 
 
(98,315)

Total assets less current liabilities
(118,944)
(78,401)

Creditors: amounts falling due after more than one year
(38,088)
(47,744)


Net liabilities
(157,032)
(126,145)



Capital and reserves
(157,032)
(126,145)


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 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 on 20 October 2023.



P M Lawrence
Director

The notes on pages 2 to 14 form part of these financial statements.

Page 1

 
ALCHEMIST DB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

1.


General information

Alchemist DB Limited is a private limited company limited by shares and incorporated in England and Wales. The registered office is 94 Scatterdells Lane, Chipperfield, Kings Langley, Hertfordshire WD4 9EX.
As with most businesses, we have been impacted by the Coronavirus (Covid 19). This has had an impact on our operations, customers, suppliers and staff. we have utilised the grants and benefits available from the Government and are taking all the steps we can to protect the future of our business. At the company's period end the final impact of Covid 19 is still uncertain, however, the directors believe that the company is a going concern.

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 members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future and will be able to meet its liabilities as they fall due. There is uncertainty that the director has had to consider in deciding to prepare the financial statements on a going concern basis, which is set out below.
The company has incurred an operating loss in the current period, the effect of which has been compounded by Coronavirus, and is reliant on the continued support of the principal creditors of the business in order to meet its liabilities as they fall due. The company is also dependant on the generation of profits and cash in the future as well as the control of costs.
The continuing impact of Coronavirus and associated restrictions will be monitored carefully by the business. On the basis of current disclosed intentions, the director believes that their plans for the generation of profits and the control of costs are realistic. Accordingly, the director considers that it is appropriate to prepare the financial statements on a going concern basis.
If expectations in line with the plans were not achieved, the going concern basis may be invalid, and adjustments may have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise, and to reclassify fixed assets and long term liabilities as current assets and liabilities.

Page 2

 
ALCHEMIST DB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

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:

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred as a proportion of total costs. When the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

 
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.

The Company has taken advantage of the optional exemption available on transition to FRS 102 which allows lease incentives on leases entered into before the date of transition to the standard 01 October 2020 to continue to be charged over the period to the first market rent review rather than the term of the lease.

 
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 Profit and Loss Account in the same period as the related expenditure.

 
2.6

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.

 
2.7

Borrowing costs

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

Page 3

 
ALCHEMIST DB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

2.Accounting policies (continued)

 
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.

 
2.9

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.

 
2.10

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Profit and Loss Account over its useful economic life.

Other 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.

 The estimated useful lives range as follows:

Goodwill
-
10
years

 
2.11

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 4

 
ALCHEMIST DB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

2.Accounting policies (continued)


2.11
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:

Plant and machinery
-
15%
reducing balance
Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
15%
reducing balance
Computer equipment
-
33%
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.

 
2.12

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.

 
2.13

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.

 
2.14

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.

 
2.15

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.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

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.
Page 5

 
ALCHEMIST DB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

2.Accounting policies (continued)


2.15
Financial instruments (continued)


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.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

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.

Page 6

 
ALCHEMIST DB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

2.Accounting policies (continued)


2.15
Financial instruments (continued)

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.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2021 - 4).

Page 7

 
ALCHEMIST DB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

4.


Intangible assets




Goodwill

£



Cost


At 1 October 2021
4,000



At 30 September 2022

4,000



Amortisation


At 1 October 2021
2,200


Charge for the year on owned assets
400



At 30 September 2022

2,600



Net book value



At 30 September 2022
1,400



At 30 September 2021
1,800



Page 8

 
ALCHEMIST DB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 October 2021
10,145
23,702
387
1,309
35,543


Additions
4,453
-
-
-
4,453



At 30 September 2022

14,598
23,702
387
1,309
39,996



Depreciation


At 1 October 2021
4,352
12,429
219
431
17,431


Charge for the year on owned assets
1,442
2,818
25
436
4,721



At 30 September 2022

5,794
15,247
244
867
22,152



Net book value



At 30 September 2022
8,804
8,455
143
442
17,844



At 30 September 2021
5,793
11,274
168
878
18,113

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2022
2021
£
£



Motor vehicles
7,567
10,090

7,567
10,090

Page 9

 
ALCHEMIST DB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

6.


Debtors

2022
2021
£
£


Trade debtors
5,985
(15,097)

Other debtors
(9,080)
(994)

Prepayments and accrued income
43,562
32,434

40,467
16,343



7.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
12,159
884

12,159
884


Page 10

 
ALCHEMIST DB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

8.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank loans
5,156
5,030

Trade creditors
19,964
16,459

Corporation tax
800
-

Other taxation and social security
103,652
69,769

Obligations under finance lease and hire purchase contracts
4,500
4,500

Other creditors
55,742
18,783

Accruals and deferred income
1,000
1,000

190,814
115,541


The following liabilities were secured:

2022
2021
£
£



Bank loan
5,156
5,030

Hire purchase
4,500
4,500

9,656
9,530

Details of security provided:

The hire purchase loan is secured on the asset which the loan was acquired to buy.
The bank loan was taken out under the Coronavirus Bounceback loan scheme. Security for this loan is provided by the government.

Page 11

 
ALCHEMIST DB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

9.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Bank loans
37,713
42,869

Net obligations under finance leases and hire purchase contracts
375
4,875

38,088
47,744


The following liabilities were secured:

2022
2021
£
£



Bank loan
37,713
42,869

Hire purchase
375
4,875

38,088
47,744

Details of security provided:

Details of the security provided are as described in the note above, Creditors: Amounts falling due within one year.

Page 12

 
ALCHEMIST DB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

10.


Loans


Analysis of the maturity of loans is given below:


2022
2021
£
£

Amounts falling due within one year

Bank loans
5,156
5,030


5,156
5,030

Amounts falling due 1-2 years

Bank loans
5,285
5,156


5,285
5,156

Amounts falling due 2-5 years

Bank loans
16,660
16,254


16,660
16,254

Amounts falling due after more than 5 years

Bank loans
15,768
21,459

15,768
21,459

42,869
47,899



11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2022
2021
£
£


Within one year
4,500
4,500

Between 1-5 years
375
4,875

4,875
9,375

Page 13

 
ALCHEMIST DB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

12.


Financial instruments

2022
2021
£
£

Financial assets


Financial assets measured at fair value through profit or loss
12,159
12,159




Financial assets measured at fair value through profit or loss comprise of cash at bank.


13.


Pension commitments

During the year the company made contributions totalling £973 (2021 - £939) to defined contribution schemes.

 
Page 14