Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-015falseNo description of principal activity10falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12882612 2022-04-01 2023-03-31 12882612 2021-04-01 2022-03-31 12882612 2023-03-31 12882612 2022-03-31 12882612 c:Director2 2022-04-01 2023-03-31 12882612 d:PlantMachinery 2022-04-01 2023-03-31 12882612 d:PlantMachinery 2023-03-31 12882612 d:PlantMachinery 2022-03-31 12882612 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 12882612 d:MotorVehicles 2022-04-01 2023-03-31 12882612 d:MotorVehicles 2023-03-31 12882612 d:MotorVehicles 2022-03-31 12882612 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 12882612 d:FurnitureFittings 2022-04-01 2023-03-31 12882612 d:FurnitureFittings 2023-03-31 12882612 d:FurnitureFittings 2022-03-31 12882612 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 12882612 d:OfficeEquipment 2022-04-01 2023-03-31 12882612 d:ComputerEquipment 2022-04-01 2023-03-31 12882612 d:ComputerEquipment 2023-03-31 12882612 d:ComputerEquipment 2022-03-31 12882612 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 12882612 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 12882612 d:CurrentFinancialInstruments 2023-03-31 12882612 d:CurrentFinancialInstruments 2022-03-31 12882612 d:Non-currentFinancialInstruments 2023-03-31 12882612 d:Non-currentFinancialInstruments 2022-03-31 12882612 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 12882612 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 12882612 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 12882612 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 12882612 d:ShareCapital 2023-03-31 12882612 d:ShareCapital 2022-03-31 12882612 d:RetainedEarningsAccumulatedLosses 2023-03-31 12882612 d:RetainedEarningsAccumulatedLosses 2022-03-31 12882612 c:FRS102 2022-04-01 2023-03-31 12882612 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 12882612 c:FullAccounts 2022-04-01 2023-03-31 12882612 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 12882612









IT'S SO SIMPLE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
IT'S SO SIMPLE LIMITED
REGISTERED NUMBER: 12882612

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
86,317
30,042

  
86,317
30,042

Current assets
  

Debtors: amounts falling due within one year
 5 
4,185
2,327

Cash at bank and in hand
 6 
32,439
55,588

  
36,624
57,915

Creditors: amounts falling due within one year
 7 
(46,816)
(33,952)

Net current (liabilities)/assets
  
 
 
(10,192)
 
 
23,963

Total assets less current liabilities
  
76,125
54,005

Creditors: amounts falling due after more than one year
 8 
(19,471)
(8,657)

  

Net assets
  
56,654
45,348


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
56,652
45,346

  
56,654
45,348


Page 1

 
IT'S SO SIMPLE LIMITED
REGISTERED NUMBER: 12882612
    
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: 




R  Sacerdoti
Director

Date: 5 November 2023

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
IT'S SO SIMPLE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

It's So Simple Limited is a private company, limited by shares, registered in England and Wales, registration number 12882612. The registered office is 101 New Cavendish Street, 1st Floor South, London, England, W1W 6XH.

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

In assessing the ability of the company to operate as a going concern, management have evaluated current and forecasted operational results, and the solvency of the company. As a result, the directors consider it appropriate to prepare the financial statements on a 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.

 
2.4

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 3

 
IT'S SO SIMPLE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
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:

Plant and machinery
-
20%
Straight line method
Motor vehicles
-
20%
Straight line method
Fixtures and fittings
-
Office equipment
-
20%
Straight line method
Computer equipment
-
20%
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.

 
2.6

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.

 
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

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 4

 
IT'S SO SIMPLE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2022 - 5).


4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 April 2022
-
26,240
-
12,530
38,770


Additions
494
62,235
208
6,595
69,532



At 31 March 2023

494
88,475
208
19,125
108,302



Depreciation


At 1 April 2022
-
5,248
-
3,480
8,728


Charge for the year on owned assets
34
9,920
30
3,273
13,257



At 31 March 2023

34
15,168
30
6,753
21,985



Net book value



At 31 March 2023
460
73,307
178
12,372
86,317



At 31 March 2022
-
20,992
-
9,050
30,042


5.


Debtors

2023
2022
£
£


Trade debtors
570
565

Other debtors
1,123
-

Prepayments and accrued income
2,492
1,762

4,185
2,327


Page 5

 
IT'S SO SIMPLE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
32,439
55,588

Less: bank overdrafts
(164)
(1,582)

32,275
54,006



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
164
1,582

Trade creditors
7,925
5,631

Corporation tax
1,162
12,700

Other taxation and social security
19,845
5,558

Obligations under finance lease and hire purchase contracts
13,394
3,848

Other creditors
2,012
4,633

Accruals and deferred income
2,314
-

46,816
33,952



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
19,471
8,657

19,471
8,657


 
Page 6