Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-312022-01-01false67No description of principal activity37falsetrue 09899629 2022-01-01 2022-12-31 09899629 2021-01-01 2021-12-31 09899629 2022-12-31 09899629 2021-12-31 09899629 c:Director1 2022-01-01 2022-12-31 09899629 d:FurnitureFittings 2022-01-01 2022-12-31 09899629 d:FurnitureFittings 2022-12-31 09899629 d:FurnitureFittings 2021-12-31 09899629 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 09899629 d:OfficeEquipment 2022-01-01 2022-12-31 09899629 d:OfficeEquipment 2022-12-31 09899629 d:OfficeEquipment 2021-12-31 09899629 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 09899629 d:ComputerEquipment 2022-01-01 2022-12-31 09899629 d:ComputerEquipment 2022-12-31 09899629 d:ComputerEquipment 2021-12-31 09899629 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 09899629 d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 09899629 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-01-01 2022-12-31 09899629 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 09899629 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2021-12-31 09899629 d:ComputerSoftware 2022-01-01 2022-12-31 09899629 d:ComputerSoftware 2022-12-31 09899629 d:ComputerSoftware 2021-12-31 09899629 d:OtherResidualIntangibleAssets 2022-01-01 2022-12-31 09899629 d:CurrentFinancialInstruments 2022-12-31 09899629 d:CurrentFinancialInstruments 2021-12-31 09899629 d:Non-currentFinancialInstruments 2022-12-31 09899629 d:Non-currentFinancialInstruments 2021-12-31 09899629 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 09899629 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 09899629 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 09899629 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 09899629 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 09899629 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-12-31 09899629 d:ShareCapital 2022-12-31 09899629 d:ShareCapital 2021-12-31 09899629 d:SharePremium 2022-12-31 09899629 d:SharePremium 2021-12-31 09899629 d:RetainedEarningsAccumulatedLosses 2022-12-31 09899629 d:RetainedEarningsAccumulatedLosses 2021-12-31 09899629 c:OrdinaryShareClass1 2022-01-01 2022-12-31 09899629 c:OrdinaryShareClass1 2022-12-31 09899629 c:OrdinaryShareClass1 2021-12-31 09899629 c:OrdinaryShareClass2 2022-01-01 2022-12-31 09899629 c:OrdinaryShareClass2 2022-12-31 09899629 c:OrdinaryShareClass2 2021-12-31 09899629 c:OrdinaryShareClass3 2022-01-01 2022-12-31 09899629 c:OrdinaryShareClass3 2022-12-31 09899629 c:OrdinaryShareClass3 2021-12-31 09899629 c:OrdinaryShareClass4 2022-01-01 2022-12-31 09899629 c:OrdinaryShareClass4 2022-12-31 09899629 c:OrdinaryShareClass4 2021-12-31 09899629 c:OrdinaryShareClass5 2022-01-01 2022-12-31 09899629 c:OrdinaryShareClass5 2022-12-31 09899629 c:OrdinaryShareClass5 2021-12-31 09899629 c:FRS102 2022-01-01 2022-12-31 09899629 c:Audited 2022-01-01 2022-12-31 09899629 c:FullAccounts 2022-01-01 2022-12-31 09899629 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 09899629 c:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 09899629 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2022-01-01 2022-12-31 09899629 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2022-01-01 2022-12-31 09899629 d:ExternallyAcquiredIntangibleAssets 2022-01-01 2022-12-31 09899629 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 09899629 d:AcceleratedTaxDepreciationDeferredTax 2021-12-31 09899629 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2022-01-01 2022-12-31 09899629 d:ComputerSoftware d:OwnedIntangibleAssets 2022-01-01 2022-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09899629









CLICKTECH SOLUTIONS LTD









FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

 
CLICKTECH SOLUTIONS LTD
REGISTERED NUMBER: 09899629

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Intangible assets
 4 
1,501,516
1,264,788

Tangible assets
 5 
71,180
102,218

  
1,572,696
1,367,006

Current assets
  

Debtors: amounts falling due within one year
 6 
1,116,969
1,310,875

Bank and cash balances
  
1,116,341
162,293

  
2,233,310
1,473,168

Creditors: amounts falling due within one year
 7 
(2,796,310)
(1,807,426)

Net current liabilities
  
 
 
(563,000)
 
 
(334,258)

Total assets less current liabilities
  
1,009,696
1,032,748

Creditors: amounts falling due after more than one year
 8 
(1,675,559)
(1,278,008)

Provisions for liabilities
  

Deferred tax
 10 
(15,602)
(15,602)

Net liabilities
  
(681,465)
(260,862)


Capital and reserves
  

Called up share capital 
 11 
1,531
1,520

Share premium account
  
9,418,509
9,400,390

Profit and loss account
  
(10,101,505)
(9,662,772)

  
(681,465)
(260,862)


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 on 31 October 2023.



Mr D Sharpe
Director
Page 1

 
CLICKTECH SOLUTIONS LTD
REGISTERED NUMBER: 09899629
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022


The notes on pages 3 to 13 form part of these financial statements.

Page 2

 
CLICKTECH SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

Clicktech Solutions Ltd ("the Company") is a private company limited by shares incorporated in England and Wales. Its registered office is Leytonstone House, 3 Hanbury Drive, Leytonstone, London, E11 1GA.

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

As part of their going concern review, the directors have followed the guidelines published by the Financial Reporting Council entitled "Going Concern and Liquidity Risk Guidance for UK Companies 2009". The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. On this basis the directors consider that the going concern basis of accounting remains appropriate.

 
2.3

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 Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
CLICKTECH SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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.

 
2.6

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their useful economic lives of 10 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.7

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 Statement of comprehensive income in the same period as the related expenditure.

Page 4

 
CLICKTECH SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.8

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.

 
2.9

Borrowing costs

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

 
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

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.

Page 5

 
CLICKTECH SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.12

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.

 The estimated useful lives range as follows:

Development expenditure
-
10
years
Computer software
-
5
years

 
2.13

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 annual bases:

Fixtures and fittings
-
10%
Office equipment
-
14% to 33%
Computer equipment
-
14% to 33%

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.

 
2.14

Impairment of intangible and tangible fixed assets

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

Page 6

 
CLICKTECH SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.15

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.

 
2.16

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.

 
2.17

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.

 
2.18

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.19

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.

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.

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.
Page 7

 
CLICKTECH SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)


2.19
Financial instruments (continued)


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.


3.


Employees

The average monthly number of employees, including directors, during the year was 37 (2021 - 67).

Page 8

 
CLICKTECH SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

4.


Intangible assets




Development expenditure
Computer software
Total

£
£
£



Cost


At 1 January 2022
1,497,988
29,386
1,527,374


Additions
475,943
7,175
483,118



At 31 December 2022

1,973,931
36,561
2,010,492



Amortisation


At 1 January 2022
253,499
9,087
262,586


Charge for the year on owned assets
197,392
5,935
203,327


Impairment charge
43,063
-
43,063



At 31 December 2022

493,954
15,022
508,976



Net book value



At 31 December 2022
1,479,977
21,539
1,501,516



At 31 December 2021
1,244,489
20,299
1,264,788


The individual intangible assets which are material to the financial statements are development costs which have a net book vaue of £1,479,977 (2021 - £1,244,489). The remaining amortisation periods associated to the asset class are 10 years for assets acquired in the year ended 31 December 2022, 9 years for assets acquired in the year ended 31 December 2021, 8 years for assets acquired in the year ended 31 December 2020 and 7 years for assets acquired in the year ended 31 December 2019. 


Page 9

 
CLICKTECH SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

5.


Tangible fixed assets





Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£



Cost


At 1 January 2022
43,808
54,203
121,378
219,389


Additions
-
-
1,712
1,712


Disposals
-
-
(3,537)
(3,537)



At 31 December 2022

43,808
54,203
119,553
217,564



Depreciation


At 1 January 2022
9,127
24,219
83,825
117,171


Charge for the year on owned assets
4,380
8,840
19,501
32,721


Disposals
-
-
(3,508)
(3,508)



At 31 December 2022

13,507
33,059
99,818
146,384



Net book value



At 31 December 2022
30,301
21,144
19,735
71,180



At 31 December 2021
34,681
29,984
37,553
102,218


6.


Debtors

2022
2021
£
£

Trade debtors
115,526
63,811

Other debtors
98,868
471,177

Prepayments and accrued income
902,575
775,887

1,116,969
1,310,875


Page 10

 
CLICKTECH SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

7.


Creditors: Amounts falling due within one year

2022
2021
£
£

Loans
1,546,669
1,179,699

Trade creditors
231,621
109,996

Other taxation and social security
293,400
61,909

Other creditors
30,933
24,886

Accruals and deferred income
693,687
430,936

2,796,310
1,807,426



8.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Loans
1,675,559
1,278,008


Loans relate to a loan agreement with a connnected entity. These funds are due for repayment on 1 March 2024. Interest is charged at 10% per annum on the loan, accruing daily.
As per the terms of the agreement, there is an option to convert the loan into shares at the option price of £2,800,000. This option is available from the repayment date and expires 12 months from the repayment date. 


9.


Loans


Analysis of the maturity of loans is given below:


2022
2021
£
£

Amounts falling due within one year

Loans
1,546,669
1,179,699

Amounts falling due 1-2 years

Loans
1,675,559
1,278,008

3,222,228
2,457,707


Page 11

 
CLICKTECH SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

10.


Deferred taxation




2022


£






At beginning of year
15,602



At end of year
15,602

The provision for deferred taxation is made up as follows:

2022
2021
£
£


Accelerated capital allowances
15,602
15,602


11.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



13,205 (2021 - 13,205) Ordinary A shares of £0.01 each
132.05
132.05
31,488 (2021 - 31,488) Ordinary B shares of £0.01 each
314.88
314.88
31,487 (2021 - 31,487) Ordinary C shares of £0.01 each
314.87
314.87
2,159 (2021 - 2,159) Ordinary D shares of £0.01 each
21.59
21.59
1,906 (2021 - 1,906) Ordinary E shares of £0.01 each
19.06
19.06
3,340 (2021 - 3,340) Ordinary F shares of £0.01 each
33.40
33.40
1,433 (2021 - 1,433) Ordinary G shares of £0.01 each
14.33
14.33
1,433 (2021 - 1,433) Ordinary H shares of £0.01 each
14.33
14.33
4 (2021 - 4) Ordinary I shares of £0.01 each
0.04
0.04
26 (2021 - 26) Ordinary J shares of £0.01 each
0.26
0.26
5,017 (2021 - 5,017) Ordinary K shares of £0.01 each
50.17
50.17
45,010 (2021 - 43,933) Ordinary L shares of £0.01 each
450.10
439.33
10,798 (2021 - 10,798) Ordinary M shares of £0.01 each
107.98
107.98
5,781 (2021 - 5,781) Ordinary N shares of £0.01 each
57.81
57.81

1,530.87

1,520.10


During the year, the Company issued 1,077 Ordinary £0.01 L shares at a premium of £16.8238.

Page 12

 
CLICKTECH SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

12.


Pension commitments

The Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the funds in respect of the year.
The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge amounted to £58,017 
(2021 - £68,520). Included in other creditors at the year-end was an amount of £12,543 (2021 - £11,690) relating to outstanding contributions.


13.


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 Andrew Barnes (Senior Statutory Auditor) on behalf of Barnes Roffe LLP.

 
Page 13