Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-06-01falseNo description of principal activity99falsetrue 08534541 2022-06-01 2023-05-31 08534541 2021-06-01 2022-05-31 08534541 2023-05-31 08534541 2022-05-31 08534541 c:Director2 2022-06-01 2023-05-31 08534541 d:PlantMachinery 2022-06-01 2023-05-31 08534541 d:PlantMachinery 2023-05-31 08534541 d:PlantMachinery 2022-05-31 08534541 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 08534541 d:ComputerEquipment 2022-06-01 2023-05-31 08534541 d:ComputerEquipment 2023-05-31 08534541 d:ComputerEquipment 2022-05-31 08534541 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 08534541 d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 08534541 d:CurrentFinancialInstruments 2023-05-31 08534541 d:CurrentFinancialInstruments 2022-05-31 08534541 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 08534541 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 08534541 d:ShareCapital 2023-05-31 08534541 d:ShareCapital 2022-05-31 08534541 d:RetainedEarningsAccumulatedLosses 2023-05-31 08534541 d:RetainedEarningsAccumulatedLosses 2022-05-31 08534541 c:FRS102 2022-06-01 2023-05-31 08534541 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 08534541 c:FullAccounts 2022-06-01 2023-05-31 08534541 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 08534541 2 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure
Registered number: 08534541









BINARY LEGAL SERVICES LTD
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023














 
BINARY LEGAL SERVICES LTD
REGISTERED NUMBER:08534541

BALANCE SHEET
AS AT 31 MAY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
4,073
5,430

  
4,073
5,430

Current assets
  

Debtors: amounts falling due within one year
 5 
171,555
107,310

Cash at bank and in hand
  
68,672
183,110

  
240,227
290,420

Creditors: amounts falling due within one year
 6 
(59,370)
(105,121)

Net current assets
  
 
 
180,857
 
 
185,299

Total assets less current liabilities
  
184,930
190,729

  

Net assets
  
184,930
190,729


Capital and reserves
  

Called up share capital 
  
200
200

Profit and loss account
  
184,730
190,529

  
184,930
190,729


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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 on 1 November 2023.



Page 1

 
BINARY LEGAL SERVICES LTD
REGISTERED NUMBER:08534541
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2023


R Chapman
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
BINARY LEGAL SERVICES LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.


General information

Binary Legal Services Ltd is a private company, limited by shares, registered in England and Wales. The registered office is 8 Victory House, Dean Clarke Gardens, Exeter, England, EX2 4AA.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors confirm that, having considered their expectations and intentions for the next twelve
months, and the availability of working capital, the company is a going concern.

 
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

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
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.

Page 3

 
BINARY LEGAL SERVICES LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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 balance sheet date in the countries where the Company operates and generates income.

 
2.8

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Computer equipment
-
25%

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.

 
2.9

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.

Page 4

 
BINARY LEGAL SERVICES LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.10

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.

 
2.11

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.

 
2.12

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.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet 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.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







No. of Employees
9
9

Page 5

 
BINARY LEGAL SERVICES LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

4.


Tangible fixed assets





Plant and machinery
Computer equipment
Total

£
£
£



Cost or valuation


At 1 June 2022
1,125
10,015
11,140



At 31 May 2023

1,125
10,015
11,140



Depreciation


At 1 June 2022
1,045
4,665
5,710


Charge for the year on owned assets
20
1,337
1,357



At 31 May 2023

1,065
6,002
7,067



Net book value



At 31 May 2023
60
4,013
4,073



At 31 May 2022
80
5,350
5,430


5.


Debtors

2023
2022
£
£


Trade debtors
155,868
91,748

Other debtors
577
-

Prepayments and accrued income
15,110
15,562

171,555
107,310


Page 6

 
BINARY LEGAL SERVICES LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
14,430
32,563

Corporation tax
-
8,174

Other taxation and social security
31,216
35,647

Other creditors
11,874
10,769

Accruals and deferred income
1,850
17,968

59,370
105,121



7.


Prior year adjustment

A prior year adjustment has been posted to reclassify gross wages, employer's national insurance, employer's pension contributions and waste disposal costs from cost of sales to administration expenses. Sales of product recharges, other operating income and other operating costs have been reclassified to sales from exceptional items. These reclassifications have no overall impact on the profit for the year or on the balance sheet.


8.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £6,672 (2022 - £6,161) . Contributions totalling £1,334 (2022 - £1,264) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 7