Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-282022-03-01falseNo description of principal activity64truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10586695 2022-03-01 2023-02-28 10586695 2023-02-28 10586695 2021-03-01 2022-02-28 10586695 2022-02-28 10586695 c:Director1 2022-03-01 2023-02-28 10586695 d:FurnitureFittings 2022-03-01 2023-02-28 10586695 d:FurnitureFittings 2023-02-28 10586695 d:FurnitureFittings 2022-02-28 10586695 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 10586695 d:OfficeEquipment 2023-02-28 10586695 d:OfficeEquipment 2022-02-28 10586695 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 10586695 d:ComputerEquipment 2022-03-01 2023-02-28 10586695 d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 10586695 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-02-28 10586695 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-02-28 10586695 d:CurrentFinancialInstruments 2023-02-28 10586695 d:CurrentFinancialInstruments 2022-02-28 10586695 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 10586695 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 10586695 d:ShareCapital 2023-02-28 10586695 d:ShareCapital 2022-02-28 10586695 d:RetainedEarningsAccumulatedLosses 2023-02-28 10586695 d:RetainedEarningsAccumulatedLosses 2022-02-28 10586695 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-02-28 10586695 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-02-28 10586695 d:FinancialLiabilitiesFairValueThroughProfitOrLoss d:UnlistedNon-exchangeTraded 2023-02-28 10586695 d:FinancialLiabilitiesFairValueThroughProfitOrLoss d:UnlistedNon-exchangeTraded 2022-02-28 10586695 c:FRS102 2022-03-01 2023-02-28 10586695 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 10586695 c:FullAccounts 2022-03-01 2023-02-28 10586695 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 10586695 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2022-03-01 2023-02-28 10586695 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 10586695 d:AcceleratedTaxDepreciationDeferredTax 2022-02-28 10586695 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure

Registered number:  10586695














EASIWEB LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

 
EASIWEB LTD
REGISTERED NUMBER: 10586695

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
171,812
181,867

Tangible assets
 5 
541
812

  
172,353
182,679

Current assets
  

Debtors: amounts falling due within one year
 6 
364,747
326,124

Cash at bank and in hand
 7 
481
881

  
365,228
327,005

Creditors: amounts falling due within one year
 8 
(498,015)
(459,490)

Net current liabilities
  
 
 
(132,787)
 
 
(132,485)

Total assets less current liabilities
  
39,566
50,194

Provisions for liabilities
  

Deferred tax
 10 
(34,111)
(38,789)

  
 
 
(34,111)
 
 
(38,789)

Net assets
  
5,455
11,405


Capital and reserves
  

Called up share capital 
  
18
2

Profit and loss account
  
5,437
11,403

  
5,455
11,405

Page 1

 
EASIWEB LTD
REGISTERED NUMBER: 10586695
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 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 Hughes
Director

Date: 16 November 2023

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
EASIWEB LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

The Company is a private company limited by shares, which is incorporated in England and Wales (no.10586695). The address of the registered office is Langtons, 11th Floor The Plaza, Old Hall Street, Liverpool, England, L3 9QJ. The principal activity of the Company is provision of management services.

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.

 
2.4

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, which range from 3 to 6 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.

Page 3

 
EASIWEB LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.5

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.

 
2.6

Borrowing costs

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

 
2.7

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.

 
2.8

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. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

 
EASIWEB LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.9

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
-
25%
straight line
Computer 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.

 
2.10

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.

 
2.11

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.

 
2.12

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.

Page 5

 
EASIWEB LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.13

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.

 
2.14

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.

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.

Page 6

 
EASIWEB LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.15

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 6 (2022 - 4).


4.


Intangible assets




Develop-ment expenditure

£



Cost


At 1 March 2022
216,435


Additions
12,875



At 28 February 2023

229,310



Amortisation


At 1 March 2022
34,567


Charge for the year on owned assets
22,931



At 28 February 2023

57,498



Net book value



At 28 February 2023
171,812



At 28 February 2022
181,868



Page 7

 
EASIWEB LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

5.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 March 2022
1,190
1,083
2,273



At 28 February 2023

1,190
1,083
2,273



Depreciation


At 1 March 2022
1,190
271
1,461


Charge for the year on owned assets
-
271
271



At 28 February 2023

1,190
542
1,732



Net book value



At 28 February 2023
-
541
541



At 28 February 2022
-
812
812


6.


Debtors

2023
2022
£
£


Other debtors
362,074
323,450

Prepayments and accrued income
2,673
2,674

364,747
326,124



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
481
881

Less: bank overdrafts
(994)
(2,058)

(513)
(1,177)


Page 8

 
EASIWEB LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
994
2,058

Trade creditors
3,854
13,114

Corporation tax
22,440
345

Other taxation and social security
5,925
26,340

Other creditors
459,276
412,305

Accruals and deferred income
5,526
5,328

498,015
459,490



9.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
481
881

Financial assets measured at amortised cost
362,074
323,450

362,555
324,331


Financial liabilities


Financial liabilities measured at amortised cost
469,650
419,817


Financial assets measured at fair value through profit or loss comprise cash at bank and at hand.


Financial assets that are debt instruments measured at amortised cost comprise other debtors.


Financial liabilities measured at amortised cost comprise bank borrowings, trade creditors, other creditors and accruals.
Page 9

 
EASIWEB LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

10.


Deferred taxation




2023


£






At beginning of year
(38,788)


Charged to profit or loss
4,677



At end of year
(34,111)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(34,111)
(38,788)

(34,111)
(38,788)


11.


Related party transactions

The following amounts within other debtors and other creditors were due to / (from) the company at the balance sheet date:


2023
2022
£
£

Oxford Vaughan Limited
317,642
240,816
Trade Gear Limited
34,800
9,000
Canbe Ltd
9,631
4,787
National Tool Hire Limited
(459,061)
(412,306)

Oxford Vaughan Limited, Trade Gear Limited and CanBe Limited are connected companies.
National Tool Hire Limited is a subsidiary company.
The loans are repayable on demand and no interest has been charged.


12.


Controlling party

The Company is controlled by J Hughes, a director and ultimate shareholder.
 
Page 10