Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31true1truetruetrue22022-01-01falseNo description of principal activitytruetrue 11197344 2022-01-01 2022-12-31 11197344 2021-01-01 2021-12-31 11197344 2022-12-31 11197344 2021-12-31 11197344 c:Director1 2022-01-01 2022-12-31 11197344 d:PlantMachinery 2022-01-01 2022-12-31 11197344 d:PlantMachinery 2022-12-31 11197344 d:PlantMachinery 2021-12-31 11197344 d:FurnitureFittings 2022-01-01 2022-12-31 11197344 d:FurnitureFittings 2022-12-31 11197344 d:FurnitureFittings 2021-12-31 11197344 d:OfficeEquipment 2022-01-01 2022-12-31 11197344 d:OfficeEquipment 2022-12-31 11197344 d:OfficeEquipment 2021-12-31 11197344 d:ComputerEquipment 2022-01-01 2022-12-31 11197344 d:ComputerEquipment 2022-12-31 11197344 d:ComputerEquipment 2021-12-31 11197344 d:CurrentFinancialInstruments 2022-12-31 11197344 d:CurrentFinancialInstruments 2021-12-31 11197344 d:Non-currentFinancialInstruments 2022-12-31 11197344 d:Non-currentFinancialInstruments 2021-12-31 11197344 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11197344 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 11197344 d:ShareCapital 2022-12-31 11197344 d:ShareCapital 2021-12-31 11197344 d:RetainedEarningsAccumulatedLosses 2022-12-31 11197344 d:RetainedEarningsAccumulatedLosses 2021-12-31 11197344 c:FRS102 2022-01-01 2022-12-31 11197344 c:Audited 2022-01-01 2022-12-31 11197344 c:FullAccounts 2022-01-01 2022-12-31 11197344 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 11197344 c:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 11197344 2 2022-01-01 2022-12-31 11197344 e:PoundSterling 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 11197344










WITBE LTD










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
WITBE LTD
REGISTERED NUMBER:11197344

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
210
-

  
210
-

Current assets
  

Debtors: amounts falling due after more than one year
 5 
12,447
12,448

Debtors: amounts falling due within one year
 5 
14,168
292,419

Cash at bank and in hand
 6 
97,905
392,516

  
124,520
697,383

Creditors: amounts falling due within one year
 7 
(650,132)
(1,112,617)

Net current liabilities
  
 
 
(525,612)
 
 
(415,234)

Total assets less current liabilities
  
(525,402)
(415,234)

  

Net liabilities
  
(525,402)
(415,234)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(525,403)
(415,235)

  
(525,402)
(415,234)


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 comprehensive income 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 31 January 2024.



MV Lacaze
Director

The notes on pages 2 to 7 form part of these financial statements.

Page 1

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

1.


General information

Witbe Ltd is a private company, limited by shares, registered in England and Wales, registration
number 11197344. The registered office 7 Savoy Court, London, WC2R 0EX.

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

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A.

This information is included in the consolidated financial statements of Witbe S.A. as at 31 December 2022 and these financial statements may be obtained from 18-22 rue d'Arras, Batiment A11, 92000 Nanterre, France.

 
2.3

Going concern

During the period the company incurred a loss of £112,168 and had net liabilities of £527,402 as at the year end. 
The directors believe that the company is a going concern on the basis that the company is
supported by its parent company, Witbe S.A. and has agreed to provide additional funding as required by the company. 
The directors believe that the support available is adequate for the company's needs and therefore it is considered appropriate to prepare the financial statements on a going concern basis. However, if
the required support was not made available by Witbe S.A., conditions would exist which could
create a material uncertainty relating to the company's ability to continue as a going concern and
therefore, it may not be able to realise its assets and discharge its liabilities in the normal course of
business.

Page 2

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

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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.

 
2.6

Interest income

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

 
2.7

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

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

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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:

Plant and machinery
-
33%
on cost
Fixtures and fittings
-
33%
on cost
Office equipment
-
33%
on cost
Computer equipment
-
33%
on cost

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.

Page 4

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

2.Accounting policies (continued)

 
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.


3.


Employees

2022
2021
£
£

Wages and salaries
74,986
152,137

Social security costs
4,242
14,558

Cost of defined contribution scheme
1,964
3,672

81,192
170,367


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


4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2022
16,903
641
3,187
1,386
22,117


Additions
-
-
-
210
210



At 31 December 2022

16,903
641
3,187
1,596
22,327



Depreciation


At 1 January 2022
16,903
641
3,187
1,386
22,117



At 31 December 2022

16,903
641
3,187
1,386
22,117



Net book value



At 31 December 2022
-
-
-
210
210



At 31 December 2021
-
-
-
-
-

Page 5

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

5.


Debtors

2022
2021
£
£

Due after more than one year

Other debtors
12,447
12,448


2022
2021
£
£

Due within one year

Trade debtors
-
278,271

Prepayments and accrued income
14,168
14,148

14,168
292,419



6.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
97,905
392,516



7.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
24,236
26,353

Amounts owed to group undertakings
524,323
944,622

Other taxation and social security
15,254
59,070

Other creditors
349
-

Accruals and deferred income
85,970
82,572

650,132
1,112,617



8.


Related party transactions

Included within amounts owed to group undertakings due within one year is £395,612 (2021 - £839,850) due to Witbe S.A., a company registered in France and the ultimate parent undertaking.
Also included within amounts owed to group undertakings due within one year is £131,254 (2021 - £104,772) due to Witbe Inc., a company registered in United States of America.
 

Page 6

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

9.


Controlling party

The immediate and ultimate parent undertaking is Witbe S.A., a company registered in France. 


10.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2022 was unqualified.

The audit report was signed on 31 January 2024 by David Cox (Senior Statutory Auditor) on behalf of Haysmacintyre LLP.

Page 7