Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-312022-01-01falseNo description of principal activity12truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08440878 2022-01-01 2022-12-31 08440878 2021-01-01 2021-12-31 08440878 2022-12-31 08440878 2021-12-31 08440878 c:Director1 2022-01-01 2022-12-31 08440878 c:RegisteredOffice 2022-01-01 2022-12-31 08440878 d:ComputerEquipment 2022-01-01 2022-12-31 08440878 d:ComputerEquipment 2022-12-31 08440878 d:ComputerEquipment 2021-12-31 08440878 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 08440878 d:CurrentFinancialInstruments 2022-12-31 08440878 d:CurrentFinancialInstruments 2021-12-31 08440878 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 08440878 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 08440878 d:ShareCapital 2022-12-31 08440878 d:ShareCapital 2021-12-31 08440878 d:RetainedEarningsAccumulatedLosses 2022-12-31 08440878 d:RetainedEarningsAccumulatedLosses 2021-12-31 08440878 c:FRS102 2022-01-01 2022-12-31 08440878 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 08440878 c:FullAccounts 2022-01-01 2022-12-31 08440878 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure
Company registration number: 08440878







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2022


RIGHTITNOW LIMITED






































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RIGHTITNOW LIMITED
 


 
COMPANY INFORMATION


Director
Marc Christian Ferrie 




Registered number
08440878



Registered office
Magna House
18-32 London Road

Staines-Upon-Thames

TW18 4BP




Accountants
Menzies LLP
Chartered Accountants

Magna House

18-32 London Road

Staines-Upon-Thames

TW18 4BP





 


RIGHTITNOW LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 6


 


RIGHTITNOW LIMITED
REGISTERED NUMBER:08440878



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
483

  
-
483

Current assets
  

Debtors: amounts falling due within one year
 5 
49,944
29,030

  
49,944
29,030

Creditors: amounts falling due within one year
 6 
(300,884)
(287,929)

Net current liabilities
  
 
 
(250,940)
 
 
(258,899)

Total assets less current liabilities
  
(250,940)
(258,416)

  

Net liabilities
  
(250,940)
(258,416)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(250,941)
(258,417)

  
(250,940)
(258,416)


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.

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: 




Marc Christian Ferrie
Director

Date: 23 November 2023

The notes on pages 3 to 6 form part of these financial statements.
Page 1

 


RIGHTITNOW LIMITED
REGISTERED NUMBER:08440878


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2022


Page 2

 


RIGHTITNOW LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

The company is limited by shares and incorporated in England. The address of the registered office is given in the company information page of these financial statements. There is no  principal place of business.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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

At the balance sheet date the company had net liabilities of £250,940 (2021: £258,416). The company is dependant on the financial support of the directors and the associated US company and as continuing support has been agreed, the financial statements have been prepared 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:

 
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.

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:

Computer equipment
-
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.

 
2.5

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.

Page 3

 


RIGHTITNOW LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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 Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

 
2.8

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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting 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 reporting date.

Page 4

 


RIGHTITNOW LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.9

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2021 - 2).


4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 January 2022
8,267



At 31 December 2022

8,267



Depreciation


At 1 January 2022
7,784


Charge for the year on owned assets
483



At 31 December 2022

8,267



Net book value



At 31 December 2022
-



At 31 December 2021
483

Page 5

 


RIGHTITNOW LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

5.


Debtors

2022
2021
£
£


Other debtors
10,123
6,165

Prepayments and accrued income
593
585

Tax recoverable
39,228
22,280

49,944
29,030



6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
2,448
10,872

Other taxation and social security
22,494
17,464

Other creditors
272,092
255,743

Accruals and deferred income
3,850
3,850

300,884
287,929


 
Page 6