Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-07-01falseNo description of principal activity1613truetrue 07299691 2022-07-01 2023-06-30 07299691 2023-06-30 07299691 2021-07-01 2022-06-30 07299691 2022-06-30 07299691 c:Director4 2022-07-01 2023-06-30 07299691 d:OfficeEquipment 2022-07-01 2023-06-30 07299691 d:OfficeEquipment 2023-06-30 07299691 d:OfficeEquipment 2022-06-30 07299691 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 07299691 d:ComputerEquipment 2022-07-01 2023-06-30 07299691 d:ComputerEquipment 2023-06-30 07299691 d:ComputerEquipment 2022-06-30 07299691 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 07299691 d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 07299691 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-06-30 07299691 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-06-30 07299691 d:CurrentFinancialInstruments 2023-06-30 07299691 d:CurrentFinancialInstruments 2022-06-30 07299691 d:Non-currentFinancialInstruments 2023-06-30 07299691 d:Non-currentFinancialInstruments 2022-06-30 07299691 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 07299691 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 07299691 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 07299691 d:Non-currentFinancialInstruments d:AfterOneYear 2022-06-30 07299691 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-06-30 07299691 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-06-30 07299691 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-06-30 07299691 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-06-30 07299691 d:ShareCapital 2023-06-30 07299691 d:ShareCapital 2022-06-30 07299691 d:RetainedEarningsAccumulatedLosses 2023-06-30 07299691 d:RetainedEarningsAccumulatedLosses 2022-06-30 07299691 c:FRS102 2022-07-01 2023-06-30 07299691 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 07299691 c:FullAccounts 2022-07-01 2023-06-30 07299691 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 07299691 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:InternallyGeneratedIntangibleAssets 2022-07-01 2023-06-30 07299691 2 2022-07-01 2023-06-30 07299691 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2022-07-01 2023-06-30 07299691 e:PoundSterling 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure
Registered number: 07299691


SCHEMATIQ LIMITED








UNAUDITED

PAGES FOR FILING WITH REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2023

 
SCHEMATIQ LIMITED
REGISTERED NUMBER: 07299691

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
1,327,571
839,163

Tangible assets
 5 
9,929
9,163

  
1,337,500
848,326

Current assets
  

Debtors: amounts falling due within one year
 6 
248,552
274,313

Cash at bank and in hand
 7 
91,058
39,140

  
339,610
313,453

Creditors: amounts falling due within one year
 8 
(1,543,918)
(801,860)

Net current liabilities
  
 
 
(1,204,308)
 
 
(488,407)

Total assets less current liabilities
  
133,192
359,919

Creditors: amounts falling due after more than one year
 9 
(20,000)
(30,000)

  

Net assets
  
113,192
329,919


Capital and reserves
  

Called up share capital 
  
4
4

Profit and loss account
  
113,188
329,915

  
113,192
329,919


Page 1

 
SCHEMATIQ LIMITED
REGISTERED NUMBER: 07299691
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 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: 


................................................
A Page
Director

Date: 27 November 2023

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

Page 2

 
SCHEMATIQ LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

Schematiq Limited is a private limited company, registered in the United Kingdom, domiciled in England and Wales. The registered office address is 1 Vincent Square, London, SW1P 2PN.

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

Despite  reporting  a loss  for  the  period,  the  company  has  prepared  accounts  on  a going concern  basis.  Ongoing  financial  support  from  the  shareholders  allows  the  company  to meet its liabilities as they fall due and consequently, the directors are confident that the company will continue in operation for the foreseeable future. 

 
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 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'.

Page 3

 
SCHEMATIQ LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
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, 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 development phase only.

 
2.7

Interest income

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

 
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.

Page 4

 
SCHEMATIQ LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
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 contributes to 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

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.

 
2.12

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

Page 5

 
SCHEMATIQ LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)


2.13
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:

Office equipment
-
33%
Computer equipment
-
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

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.

 
2.15

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.

 
2.16

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 16 (2022 - 13).

Page 6

 
SCHEMATIQ LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

4.


Intangible assets




Develop-ment
 expenditure

£



Cost


At 1 July 2022
1,702,366


Additions - internal
673,443



At 30 June 2023

2,375,809



Amortisation


At 1 July 2022
863,203


Charge for the year on owned assets
185,035



At 30 June 2023

1,048,238



Net book value



At 30 June 2023
1,327,571



At 30 June 2022
839,163



Page 7

 
SCHEMATIQ LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

5.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 July 2022
1,316
13,340
14,656


Additions
-
6,736
6,736



At 30 June 2023

1,316
20,076
21,392



Depreciation


At 1 July 2022
91
5,402
5,493


Charge for the year on owned assets
434
5,536
5,970



At 30 June 2023

525
10,938
11,463



Net book value



At 30 June 2023
791
9,138
9,929



At 30 June 2022
1,225
7,938
9,163

Page 8

 
SCHEMATIQ LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

6.


Debtors

2023
2022
£
£


Trade debtors
25,080
30,169

Amounts owed by group undertakings
50
-

Other debtors
218,401
239,507

Prepayments and accrued income
5,021
4,637

248,552
274,313



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
91,058
39,140

91,058
39,140



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,000
10,000

Trade creditors
19,433
4,489

Amounts owed to group undertakings
1,190,056
490,056

Other taxation and social security
43,757
31,197

Other creditors
9,538
14,212

Accruals and deferred income
271,134
251,906

1,543,918
801,860



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
20,000
30,000

20,000
30,000


Page 9

 
SCHEMATIQ LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 1-2 years

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 2-5 years

Bank loans
10,000
20,000


10,000
20,000


30,000
40,000



11.


Pension commitments

The Company contributes to 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 £100,716 (2022: £19,426). Contributions totalling £9,536 (2022: £14,210) were payable to the fund at the balance sheet date and are included in other creditors.


12.


Related party transactions

Included within creditors as at the year end is an amount of £1,190,056 (2022: £490,056) owed to HTI Holdings Limited, the parent company. There is no interest accruing on these amounts and there are no strict repayment terms in place. 

 
Page 10