Caseware UK (AP4) 2022.0.179 2022.0.179 2023-07-312023-07-312022-08-01falseNo description of principal activity64truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12781067 2022-08-01 2023-07-31 12781067 2021-08-01 2022-07-31 12781067 2023-07-31 12781067 2022-07-31 12781067 c:Director1 2022-08-01 2023-07-31 12781067 d:OfficeEquipment 2022-08-01 2023-07-31 12781067 d:OfficeEquipment 2023-07-31 12781067 d:OfficeEquipment 2022-07-31 12781067 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 12781067 d:ComputerEquipment 2022-08-01 2023-07-31 12781067 d:ComputerEquipment 2023-07-31 12781067 d:ComputerEquipment 2022-07-31 12781067 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 12781067 d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 12781067 d:ComputerSoftware 2023-07-31 12781067 d:ComputerSoftware 2022-07-31 12781067 d:OtherResidualIntangibleAssets 2022-08-01 2023-07-31 12781067 d:CurrentFinancialInstruments 2023-07-31 12781067 d:CurrentFinancialInstruments 2022-07-31 12781067 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 12781067 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 12781067 d:ShareCapital 2023-07-31 12781067 d:ShareCapital 2022-07-31 12781067 d:SharePremium 2023-07-31 12781067 d:SharePremium 2022-07-31 12781067 d:RetainedEarningsAccumulatedLosses 2023-07-31 12781067 d:RetainedEarningsAccumulatedLosses 2022-07-31 12781067 c:OrdinaryShareClass1 2022-08-01 2023-07-31 12781067 c:OrdinaryShareClass1 2023-07-31 12781067 c:OrdinaryShareClass1 2022-07-31 12781067 c:FRS102 2022-08-01 2023-07-31 12781067 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 12781067 c:FullAccounts 2022-08-01 2023-07-31 12781067 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 12781067 d:ComputerSoftware d:InternallyGeneratedIntangibleAssets 2022-08-01 2023-07-31 12781067 d:ComputerSoftware d:OwnedIntangibleAssets 2022-08-01 2023-07-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12781067









PREWARP LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2023

 
PREWARP LIMITED
REGISTERED NUMBER: 12781067

BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
Note
£
£

FIXED ASSETS
  

Intangible assets
 4 
53,299
59,257

Tangible assets
 5 
1,220
1,308

  
54,519
60,565

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 6 
79,056
121,108

Cash at bank and in hand
  
28,588
1,845

  
107,644
122,953

Creditors: amounts falling due within one year
 7 
(137,178)
(43,756)

NET CURRENT (LIABILITIES)/ASSETS
  
 
 
(29,534)
 
 
79,197

TOTAL ASSETS LESS CURRENT LIABILITIES
  
24,985
139,762

  

NET ASSETS
  
24,985
139,762


CAPITAL AND RESERVES
  

Called up share capital 
 8 
96
96

Share premium account
  
259,141
259,141

Profit and loss account
  
(234,252)
(119,475)

  
24,985
139,762


Page 1

 
PREWARP LIMITED
REGISTERED NUMBER: 12781067
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2023

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 by: 






T Barber
Director

Date: 23 October 2023

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

Page 2

 
PREWARP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


GENERAL INFORMATION

Prewarp Limited is a private Company limited by shares and incorporated in England and Wales. Its registered office is 13 Pottery Lane, London, England, W11 4LY.

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.

 
2.3

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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.

Page 3

 
PREWARP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

RESEARCH AND DEVELOPMENT

Research and development expenditure is recognised in the Profit and Loss Account in the period in which the expenditure is incurred.

 
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

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.

 
2.7

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.

 
2.8

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:

Computer software
-
5
years

Page 4

 
PREWARP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 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
-
Computer equipment
-
33%
Straight line method

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.

  
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.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 6 (2022 - 4).

Page 5

 
PREWARP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

4.


INTANGIBLE ASSETS




Computer software

£



COST


At 1 August 2022
73,123


Additions - internal
10,000



At 31 July 2023

83,123



AMORTISATION


At 1 August 2022
13,866


Charge for the year on owned assets
15,958



At 31 July 2023

29,824



NET BOOK VALUE



At 31 July 2023
53,299



At 31 July 2022
59,257



Page 6

 
PREWARP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

5.


TANGIBLE FIXED ASSETS





Office equipment
Computer equipment
Total

£
£
£



COST OR VALUATION


At 1 August 2022
-
2,272
2,272


Additions
300
558
858



At 31 July 2023

300
2,830
3,130



DEPRECIATION


At 1 August 2022
-
964
964


Charge for the year on owned assets
66
880
946



At 31 July 2023

66
1,844
1,910



NET BOOK VALUE



At 31 July 2023
234
986
1,220



At 31 July 2022
-
1,308
1,308


6.


DEBTORS

2023
2022
£
£


Trade debtors
-
10,066

Other debtors
25,375
5,189

Prepayments and accrued income
53,681
105,853

79,056
121,108


Page 7

 
PREWARP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Other loans
88,112
-

Trade creditors
2,687
2,992

Other taxation and social security
18,266
25,583

Other creditors
12,623
12,781

Accruals and deferred income
15,490
2,400

137,178
43,756


Other creditors include contributions of £1,426 (2022 - £924) payable to the Company's defined contribution pension scheme at the balance sheet date.


8.


SHARE CAPITAL

2023
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



962,024 (2022 - 962,024) Ordinary shares of £0.0001 each
96
96


 
Page 8