Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31falsetruetrue462022-01-01No description of principal activity17falsetrue 08259952 2022-01-01 2022-12-31 08259952 2020-10-01 2021-12-31 08259952 2022-12-31 08259952 2021-12-31 08259952 2020-10-01 08259952 c:Director2 2022-01-01 2022-12-31 08259952 c:Director3 2022-01-01 2022-12-31 08259952 c:RegisteredOffice 2022-01-01 2022-12-31 08259952 d:ComputerEquipment 2022-01-01 2022-12-31 08259952 d:ComputerEquipment 2022-12-31 08259952 d:ComputerEquipment 2021-12-31 08259952 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 08259952 d:CurrentFinancialInstruments 2022-12-31 08259952 d:CurrentFinancialInstruments 2021-12-31 08259952 d:Non-currentFinancialInstruments 2022-12-31 08259952 d:Non-currentFinancialInstruments 2021-12-31 08259952 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 08259952 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 08259952 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 08259952 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 08259952 d:ShareCapital 2022-01-01 2022-12-31 08259952 d:ShareCapital 2022-12-31 08259952 d:ShareCapital 2020-10-01 2021-12-31 08259952 d:ShareCapital 2021-12-31 08259952 d:ShareCapital 2020-10-01 08259952 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 08259952 d:RetainedEarningsAccumulatedLosses 2022-12-31 08259952 d:RetainedEarningsAccumulatedLosses 2020-10-01 2021-12-31 08259952 d:RetainedEarningsAccumulatedLosses 2021-12-31 08259952 d:RetainedEarningsAccumulatedLosses 2020-10-01 08259952 c:OrdinaryShareClass1 2022-01-01 2022-12-31 08259952 c:OrdinaryShareClass1 2022-12-31 08259952 c:OrdinaryShareClass1 2021-12-31 08259952 c:FRS102 2022-01-01 2022-12-31 08259952 c:Audited 2022-01-01 2022-12-31 08259952 c:FullAccounts 2022-01-01 2022-12-31 08259952 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 08259952 c:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 08259952 2 2022-01-01 2022-12-31 iso4217:GBP xbrli:shares xbrli:pure


Registered number: 08259952












BLUEVOYANT LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

 

BLUEVOYANT LTD

CONTENTS



Page
Company information
 
1
Balance sheet
 
2
Statement of changes in equity
 
3
Notes to the financial statements
 
4 - 11

 

BLUEVOYANT LTD
 
COMPANY INFORMATION


Directors
J A Rosenthal 
M W Twomey 




Registered number
08259952



Registered office
16 Great Queen Street

London

United Kingdom

WC2B 5AH




Independent auditor
Blick Rothenberg Audit LLP
Chartered Accountants & Statutory Auditor

16 Great Queen Street

Covent Garden

London

WC2B 5AH




Page 1


 
REGISTERED NUMBER:08259952
BLUEVOYANT LTD

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
63,801
44,535

  
63,801
44,535

Current assets
  

Debtors: amounts falling due within one year
 5 
3,477,462
527,648

Bank and cash balances
  
257,427
195,279

  
3,734,889
722,927

Creditors: amounts falling due within one year
 6 
(7,819,789)
(782,751)

Net current liabilities
  
 
 
(4,084,900)
 
 
(59,824)

Total assets less current liabilities
  
(4,021,099)
(15,289)

Creditors: amounts falling due after more than one year
 7 
-
(33,140)

  

Net liabilities
  
(4,021,099)
(48,429)


Capital and reserves
  

Called up share capital 
 8 
200
200

Profit and loss account
  
(4,021,299)
(48,629)

Total equity
  
(4,021,099)
(48,429)


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: 1 November 2023.




J A Rosenthal
Director

The notes on pages 4 to 11 form part of these financial statements.
Page 2

 

BLUEVOYANT LTD

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2022


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 October 2020
200
376,123
376,323


Comprehensive income for the period

Loss for the period
-
(404,747)
(404,747)
Total comprehensive income for the period
-
(404,747)
(404,747)


Contributions by and distributions to owners

Dividends: Equity capital
-
(20,005)
(20,005)


Total transactions with owners
-
(20,005)
(20,005)



At 1 January 2022
200
(48,629)
(48,429)


Comprehensive income for the year

Loss for the year
-
(3,972,670)
(3,972,670)
Total comprehensive income for the year
-
(3,972,670)
(3,972,670)


At 31 December 2022
200
(4,021,299)
(4,021,099)


The notes on pages 4 to 11 form part of these financial statements.
Page 3

 

BLUEVOYANT LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

BlueVoyant Limited is a private company limited by shares incorporated in England and Wales. The address of its registered office is 16 Great Queen Street, London, England, WC2B 5AH.
The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The comparative figures in these financial statements were prepared for the period from 1 October 2020 to 31 December 2021 in order to align the year end with that of its parent company. In the current year, accounts were prepared from 1 January to 31 December 2022. Therefore, the comparative figures are not entirely comparable.

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 financial statements have been prepared on a going concern basis notwithstanding the fact that the company has a deficiency on total equity at the end of the year. The directors have received indication from the company's parent that it will continue to provide support for the foreseeable future, being a period of no less than twelve months from the date that these financial statements were approved. Consequently, they have continued to adopt the going concern basis.

 
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.
Page 4

 

BLUEVOYANT LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.4

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:

Computer equipment
-
3 years

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.


2.5

Financial instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. 
 
The company’s policies for its major classes of financial assets and financial liabilities are set out below. 

Financial assets
Basic financial assets, including trade and other debtors, cash and bank balances, intercompany working capital balances, and intercompany financing are initially recognised at transaction price, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Page 5

 

BLUEVOYANT LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)




Financial instruments (continued)

Financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. 

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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 6

 

BLUEVOYANT LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

  
2.6

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

  
2.7

Share capital

Ordinary shares are classified as equity.

 
2.8

Interest income

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

 
2.9

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.

 
2.10

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.

  
2.11

Share based payments

Where share options are awarded to employees, the fair value of the options at the date of the grant is charged to profit or loss over the vesting period. Non-market conditions are taken into account by adjusting the number of equity instruments expected to vest at each balance sheet date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition. 
The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as target based on an index) or factors which are within the control of one or other of the parties (such as the company keeping the scheme open or the employee maintaining any contributions required by the scheme). 
Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to the profit or loss over the remaining vesting period. 
Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received. 

Page 7

 

BLUEVOYANT LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.12

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 profit and loss account within 'interest receivable and similar income' or 'interest payable and similar expenses'. All other foreign exchange gains and losses are presented in profit or loss within 'administrative income'.

 
2.13

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.

Page 8

 

BLUEVOYANT LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.14

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years.
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 arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.
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. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 46 (2021 - 17).

Page 9

 

BLUEVOYANT LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 January 2022
114,475


Additions
53,679



At 31 December 2022

168,154



Depreciation


At 1 January 2022
69,940


Charge for the year on owned assets
34,413



At 31 December 2022

104,353



Net book value



At 31 December 2022
63,801



At 31 December 2021
44,535


5.


Debtors

2022
2021
£
£


Trade debtors
2,791,769
157,973

Amounts owed by group undertakings
8,755
8,755

Other debtors
78,047
78,045

Prepayments and accrued income
598,891
282,875

3,477,462
527,648


Page 10

 

BLUEVOYANT LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

6.


Creditors: amounts falling due within one year

2022
2021
£
£

Bank loans
33,140
10,648

Trade creditors
179,860
84,950

Amounts owed to group undertakings
3,870,152
500,000

Other taxation and social security
674,655
130,470

Other creditors
100,119
1,083

Accruals and deferred income
2,961,863
55,600

7,819,789
782,751



7.


Creditors: amounts falling due after more than one year

2022
2021
£
£

Bank loans
-
33,140



8.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



20,000 (2021 - 20,000) Ordinary A 1P shares of £0.01 each
200
200



9.


Related party transactions

The company has taken advantage of the exemption contained in FRS 102 section 33 "Related Party Disclosures" from disclosing transactions with entities which are a wholly owned part of the group.


10.


Parent undertaking

The smallest group for which consolidated financial statements are drawn up is headed by BlueVoyant Inc., whose registered office is 335 Madison Ave, Suite 5G, New York, NY, 10017.

11.


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 2 November 2023 by Mark Hart (senior statutory auditor) on behalf of Blick Rothenberg Audit LLP.

 
Page 11