Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31false2022-04-01No description of principal activity11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07676863 2022-04-01 2023-03-31 07676863 2021-04-01 2022-03-31 07676863 2023-03-31 07676863 2022-03-31 07676863 c:Director1 2022-04-01 2023-03-31 07676863 d:FurnitureFittings 2022-04-01 2023-03-31 07676863 d:FurnitureFittings 2023-03-31 07676863 d:FurnitureFittings 2022-03-31 07676863 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07676863 d:OfficeEquipment 2022-04-01 2023-03-31 07676863 d:OfficeEquipment 2023-03-31 07676863 d:OfficeEquipment 2022-03-31 07676863 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07676863 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07676863 d:CurrentFinancialInstruments 2023-03-31 07676863 d:CurrentFinancialInstruments 2022-03-31 07676863 d:Non-currentFinancialInstruments 2023-03-31 07676863 d:Non-currentFinancialInstruments 2022-03-31 07676863 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07676863 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 07676863 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 07676863 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 07676863 d:UKTax 2022-04-01 2023-03-31 07676863 d:UKTax 2021-04-01 2022-03-31 07676863 d:ShareCapital 2023-03-31 07676863 d:ShareCapital 2022-03-31 07676863 d:RetainedEarningsAccumulatedLosses 2023-03-31 07676863 d:RetainedEarningsAccumulatedLosses 2022-03-31 07676863 c:FRS102 2022-04-01 2023-03-31 07676863 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 07676863 c:FullAccounts 2022-04-01 2023-03-31 07676863 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 07676863 2 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure
Registered number: 07676863



POLYGON C.G.I. LIMITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED  31 MARCH 2023

 
POLYGON C.G.I. LIMITED
REGISTERED NUMBER: 07676863

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
8,837
13,252

  
8,837
13,252

Current assets
  

Stocks
 6 
15,000
15,000

Debtors: amounts falling due within one year
 7 
68,486
42,178

  
83,486
57,178

Creditors: amounts falling due within one year
 9 
(58,616)
(32,753)

Net current assets
  
 
 
24,870
 
 
24,425

Total assets less current liabilities
  
33,707
37,677

Creditors: amounts falling due after more than one year
 10 
(33,333)
(37,500)

  

Net assets
  
374
177


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
274
77

  
374
177


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.

Page 1

 
POLYGON C.G.I. LIMITED
REGISTERED NUMBER: 07676863
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

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 on 13 November 2023.




B. Mannion
Director

Page 2

 
POLYGON C.G.I. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Polygon C.G.I. Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is 30 Orange Street, London, WC2H 7HF.

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.

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

 
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 value added tax. 

 
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.

Page 3

 
POLYGON C.G.I. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

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 & fittings
-
20% Straight Line
Office equipment
-
25% 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.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value.

 
2.6

Debtors

Short term debtors are measured at transaction price.

 
2.7

Cash

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

 
2.8

Creditors

Short term creditors are measured at the transaction price.

 
2.9

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.
Financial assets that are 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 Statement of income and retained earnings.
Financial assets and liabilities are offset and the net amount reported in the Statement of financial position 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.

 
2.10

Interest income

Interest income is recognised in the Statement of income as received.

Page 4

 
POLYGON C.G.I. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.11

Finance costs

Finance costs are charged to the Statement of income and retained earnings over the term of the debt as paid.

 
2.12

Borrowing costs

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

 
2.13

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 reporting date in the countries where the Company operates and generates income.

 
2.14

Dividends

Equity dividends are recognised when paid. 


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 5

 
POLYGON C.G.I. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Taxation


2023
2022
£
£

Corporation tax


Current tax on profits for the year
1,992
-


1,992
-


Total current tax
1,992
-

Factors affecting tax charge for the year

The company had a tax loss brought forward of £5,839 to offset against the current year profit. The tax charge for the year has been calculated on the remaining profits on ordinary activities before tax at the standard rate of corporation tax in the UK of 19% (2022 - 19%).



Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 6

 
POLYGON C.G.I. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Tangible fixed assets





Fixtures & fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 April 2022
7,710
148,602
156,312


Additions
-
1,473
1,473



At 31 March 2023

7,710
150,075
157,785



Depreciation


At 1 April 2022
7,472
135,588
143,060


Charge for the year on owned assets
64
5,824
5,888



At 31 March 2023

7,536
141,412
148,948



Net book value



At 31 March 2023
174
8,663
8,837



At 31 March 2022
238
13,014
13,252


6.


Stocks

2023
2022
£
£

Work in progress
15,000
15,000

15,000
15,000


Page 7

 
POLYGON C.G.I. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Debtors

2023
2022
£
£


Trade debtors
12,100
5,500

Other debtors
56,386
27,328

Accrued income
-
9,350

68,486
42,178



8.


Cash

2023
2022
£
£

Less: bank overdrafts
(5,325)
(7,194)

(5,325)
(7,194)



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
5,325
7,194

Bounce back loan
10,000
10,000

Trade creditors
12,924
8,185

The Light House CGI Limited
4,794
4,874

Accruals
2,500
2,500

Corporation tax
11,056
-

Other creditors
4,958
-

Other taxation and social security
7,059
-

58,616
32,753


Page 8

 
POLYGON C.G.I. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bounce back loan
33,333
37,500

33,333
37,500


The company enjoyed a bounce back loan following the effect of Covid-19. The loan was for £50,000 and is repayable over 5 years commencing one year after 11th June 2020 at an initial rate of 2.5%.


11.


Related party transactions

The directors consider Monocca Limited and The Light House CGI Limited to be related parties.
During the year, Monocca Limited charged Polygon C.G.I Limited £42,000 (2022 - £42,000) for the provision of consultancy services on  a normal commercial basis.
As at the balance sheet date, there was a balance due to Monocca Limited of £nil (2022 - £nil).
As at the balance sheet date, there was a balance due to The Light House CGI Limited of £4,794 (2022 - £4,874).

 
Page 9