Caseware UK (AP4) 2022.0.179 2022.0.179 2023-08-312023-08-3152022-09-01The principal activity of the Company is the operation of an incubator scheme focused on deep tech start-up companies.false4truetrue 12144298 2022-09-01 2023-08-31 12144298 2021-09-01 2022-08-31 12144298 2023-08-31 12144298 2022-08-31 12144298 c:Director1 2022-09-01 2023-08-31 12144298 d:FurnitureFittings 2022-09-01 2023-08-31 12144298 d:FurnitureFittings 2023-08-31 12144298 d:FurnitureFittings 2022-08-31 12144298 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 12144298 d:ComputerEquipment 2022-09-01 2023-08-31 12144298 d:ComputerEquipment 2023-08-31 12144298 d:ComputerEquipment 2022-08-31 12144298 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 12144298 d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 12144298 d:CurrentFinancialInstruments 2023-08-31 12144298 d:CurrentFinancialInstruments 2022-08-31 12144298 d:Non-currentFinancialInstruments 2023-08-31 12144298 d:Non-currentFinancialInstruments 2022-08-31 12144298 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 12144298 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 12144298 d:ShareCapital 2023-08-31 12144298 d:ShareCapital 2022-08-31 12144298 d:SharePremium 2023-08-31 12144298 d:SharePremium 2022-08-31 12144298 d:RetainedEarningsAccumulatedLosses 2023-08-31 12144298 d:RetainedEarningsAccumulatedLosses 2022-08-31 12144298 c:OrdinaryShareClass2 2022-09-01 2023-08-31 12144298 c:OrdinaryShareClass2 2023-08-31 12144298 c:FRS102 2022-09-01 2023-08-31 12144298 c:Audited 2022-09-01 2023-08-31 12144298 c:FullAccounts 2022-09-01 2023-08-31 12144298 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 12144298 c:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 12144298 6 2022-09-01 2023-08-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12144298









ACCELERATOR ADVISORY LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2023

 
ACCELERATOR ADVISORY LIMITED
REGISTERED NUMBER: 12144298

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
32,720
42,284

Investments
 5 
2
2

  
32,722
42,286

CURRENT ASSETS
  

Debtors
 6 
109,761
51,768

Cash at bank and in hand
  
238,788
95,163

  
348,549
146,931

Creditors: amounts falling due within one year
 7 
(686,435)
(185,697)

NET CURRENT LIABILITIES
  
 
 
(337,886)
 
 
(38,766)

NET (LIABILITIES)/ASSETS
  
(305,164)
3,520


CAPITAL AND RESERVES
  

Called up share capital 
 8 
28
20

Share premium account
  
1,181,774
849,980

Profit and loss account
  
(1,486,966)
(846,480)

  
(305,164)
3,520


Page 1

 
ACCELERATOR ADVISORY LIMITED
REGISTERED NUMBER: 12144298
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2023

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 profit and loss account 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: 






M A L Kirby
Director

Date: 30 January 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
ACCELERATOR ADVISORY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


GENERAL INFORMATION

Accelerator Advisory Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is c/o Mills & Reeve LLP, Botanic House, 100 Hills Road, Cambridge, CB2 1PH. Its principal place of business is First Floor, Building Number 7, Homerton Business Centre, Purbeck Road, Cambridge, CB2 8EB.
The Company's functional and presentational currency is GBP.

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

The financial statements have been prepared on the going concern basis, with the trading losses reported to date consistent with the Company's business plan as it progresses its activities.
In considering the adequacy of the Company's financial resources at the time of approving the financial statements, the directors have prepared detailed budgets and cash flow forecasts, based on which they have a reasonable expectation that the Company will be able to meet its liabilities as they fall due for the foreseeable future. 

 
2.3

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, valued added tax and other sales taxes. Advisory fees are recognised in the period in which the services are provided.

 
2.4

GOVERNMENT GRANTS

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Profit and Loss Account in the same period as the related expenditure.

Page 3

 
ACCELERATOR ADVISORY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.5

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.

 
2.6

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.

 
2.7

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

DEBTORS

Short term debtors are measured at transaction price, less any impairment.

 
2.9

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.

Page 4

 
ACCELERATOR ADVISORY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.10

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
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.

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.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 5 (2022 - 4).

Page 5

 
ACCELERATOR ADVISORY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

4.


TANGIBLE FIXED ASSETS





Fixtures and fittings
Computer equipment
Total

£
£
£



COST


At 1 September 2022
13,851
39,896
53,747


Additions
3,776
1,291
5,067


Disposals
-
(1,068)
(1,068)



At 31 August 2023

17,627
40,119
57,746



DEPRECIATION


At 1 September 2022
1,201
10,262
11,463


Charge for the year on owned assets
3,919
10,108
14,027


Disposals
-
(464)
(464)



At 31 August 2023

5,120
19,906
25,026



NET BOOK VALUE



At 31 August 2023
12,507
20,213
32,720



At 31 August 2022
12,650
29,634
42,284


5.


FIXED ASSET INVESTMENTS





Investments in subsidiary companies

£



COST


At 1 September 2022
2



At 31 August 2023
2

Page 6

 
ACCELERATOR ADVISORY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

6.


DEBTORS


2023
2022
£
£

DUE AFTER MORE THAN ONE YEAR

Other debtors
-
13,125

-
13,125

DUE WITHIN ONE YEAR

Trade debtors
45,000
-

Amounts owed by group undertakings
18,402
4,854

Other debtors
20,750
121

Prepayments and accrued income
25,609
33,668

109,761
51,768



7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Trade creditors
48,903
26,656

Amounts owed to group undertakings
482,782
2

Other taxation and social security
4,393
-

Other creditors
4,663
2,655

Accruals and deferred income
145,694
156,384

686,435
185,697


Other creditors include contributions of £3,163 (2022 - £2,655) payable to the Company's defined contribution pension scheme at the balance sheet date.

Page 7

 
ACCELERATOR ADVISORY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

8.


SHARE CAPITAL

2023
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



894,700 Ordinary shares of £0.00002237 each
20
20
350,000 Series Seed 1 shares of £0.00002237 each
8
-

28

20


On 7 August 2023, the Company issued 350,000 Series Seed 1 shares of £0.00002237 each at a rate of £1 per share. An amount of £349,992 being the difference between the total consideration and the nominal value of £8 for the shares issued has been included in the share premium account.


9.FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies that are not included in the balance sheet amount to £26,250 (2022 - £236,250).


10.


AUDITORS' INFORMATION

The auditors' report on the financial statements for the year ended 31 August 2023 was unqualified.

The audit report was signed on 30 January 2024 by Roberta Newman (Senior Statutory Auditor) on behalf of Peters Elworthy & Moore.

 
Page 8