Caseware UK (AP4) 2022.0.179 2022.0.179 2023-04-302023-04-302022-05-01truefalseNo description of principal activity22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08506728 2022-05-01 2023-04-30 08506728 2021-05-01 2022-04-30 08506728 2023-04-30 08506728 2022-04-30 08506728 c:Director2 2022-05-01 2023-04-30 08506728 d:FurnitureFittings 2022-05-01 2023-04-30 08506728 d:FurnitureFittings 2023-04-30 08506728 d:FurnitureFittings 2022-04-30 08506728 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 08506728 d:CurrentFinancialInstruments 2023-04-30 08506728 d:CurrentFinancialInstruments 2022-04-30 08506728 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 08506728 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 08506728 d:ShareCapital 2023-04-30 08506728 d:ShareCapital 2022-04-30 08506728 d:RetainedEarningsAccumulatedLosses 2023-04-30 08506728 d:RetainedEarningsAccumulatedLosses 2022-04-30 08506728 c:FRS102 2022-05-01 2023-04-30 08506728 c:AuditExempt-NoAccountantsReport 2022-05-01 2023-04-30 08506728 c:FullAccounts 2022-05-01 2023-04-30 08506728 c:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 08506728 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 08506728 d:AcceleratedTaxDepreciationDeferredTax 2022-04-30 08506728 d:WithinOneYear 2023-04-30 08506728 d:WithinOneYear 2022-04-30 08506728 d:BetweenOneFiveYears 2023-04-30 08506728 d:BetweenOneFiveYears 2022-04-30 iso4217:GBP xbrli:pure
Registered number: 08506728






KORE IDEAS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023










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KORE IDEAS LIMITED
REGISTERED NUMBER:08506728

BALANCE SHEET
AS AT 30 APRIL 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
13,177
11,583

  
13,177
11,583

Current assets
  

Debtors: amounts falling due within one year
 5 
32,714
381,757

Cash at bank and in hand
 6 
875,185
390,432

  
907,899
772,189

Creditors: amounts falling due within one year
 7 
(169,755)
(283,316)

Net current assets
  
 
 
738,144
 
 
488,873

Total assets less current liabilities
  
751,321
500,456

Provisions for liabilities
  

Deferred tax
 8 
(3,294)
-

  
 
 
(3,294)
 
 
-

Net assets
  
748,027
500,456


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
747,927
500,356

  
748,027
500,456


Page 1

 
KORE IDEAS LIMITED
REGISTERED NUMBER:08506728
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 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: 


J E Hollidge
Director

Date: 1 November 2023

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
KORE IDEAS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1.


General information

Kore Ideas Limited is a private company limited by shares incorporated in England and Wales. The registered office is 168 High Street, Shoeburyness, Essex, SS3 9AT. 
The principal activity of the company continued to be that of management consultancy.

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

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.

 
2.3

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.

Page 3

 
KORE IDEAS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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:

Fixtures and fittings
-
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.

 
2.6

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.

Page 4

 
KORE IDEAS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.7

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.

 
2.8

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.

 
2.9

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.

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.

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.

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.
 
Page 5

 
KORE IDEAS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)


2.9
Financial instruments (continued)


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.

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.

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.

 
2.10

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 2 (2022 - 2).

Page 6

 
KORE IDEAS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 May 2022
20,195


Additions
7,148



At 30 April 2023

27,343



Depreciation


At 1 May 2022
8,612


Charge for the year on owned assets
5,554



At 30 April 2023

14,166



Net book value



At 30 April 2023
13,177



At 30 April 2022
11,583
Page 7

 
KORE IDEAS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

5.


Debtors

2023
2022
£
£


Trade debtors
-
381,558

Other debtors
21,748
-

Prepayments and accrued income
10,966
199

32,714
381,757



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
875,185
390,432

875,185
390,432



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
413
105,452

Other taxation and social security
84,859
136,857

Other creditors
32,597
39,007

Accruals and deferred income
51,886
2,000

169,755
283,316


Page 8

 
KORE IDEAS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

8.


Deferred taxation




2023


£






Charged to profit or loss
(3,294)



At end of year
(3,294)

The deferred taxation balance is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(3,294)
-

(3,294)
-


9.


Commitments under operating leases

At 30 April 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
6,983
-

Later than 1 year and not later than 5 years
10,475
-

17,458
-


10.


First time adoption of FRS 102

The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.

 
Page 9