Caseware UK (AP4) 2023.0.135 2023.0.135 2023-02-282023-02-28false2022-02-091The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activityfalsetrue 13904240 2022-02-08 13904240 2022-02-09 2023-02-28 13904240 2021-03-01 2022-02-08 13904240 2023-02-28 13904240 c:Director1 2022-02-09 2023-02-28 13904240 d:CurrentFinancialInstruments 2023-02-28 13904240 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 13904240 d:ShareCapital 2023-02-28 13904240 d:RetainedEarningsAccumulatedLosses 2023-02-28 13904240 c:OrdinaryShareClass1 2022-02-09 2023-02-28 13904240 c:OrdinaryShareClass1 2023-02-28 13904240 c:FRS102 2022-02-09 2023-02-28 13904240 c:AuditExempt-NoAccountantsReport 2022-02-09 2023-02-28 13904240 c:FullAccounts 2022-02-09 2023-02-28 13904240 c:PrivateLimitedCompanyLtd 2022-02-09 2023-02-28 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 13904240









FINRAY IO LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023














 
FINRAY IO LIMITED
REGISTERED NUMBER:13904240

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
Note
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
136

  
136

Creditors: amounts falling due within one year
 5 
(16,447)

Net current (liabilities)/assets
  
 
 
(16,311)

Total assets less current liabilities
  
(16,311)

  

Net (liabilities)/assets
  
(16,311)


Capital and reserves
  

Called up share capital 
  
100

Profit and loss account
  
(16,411)

  
(16,311)


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 period 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 on 5 February 2024.




Eoghan Ogriobhtha
Director

The notes on pages 2 to 4 form part of these financial statements.
Page 1

 
FINRAY IO LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

1.


General information

Finray IO Limited is a private company, limited by shares, domiciled in England and Wales. The registered office is 21 The Plantation, London, England, SE3 0AB.

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 director confirms 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

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.

Page 2

 
FINRAY IO LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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.

 
2.7

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.

 
2.8

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.

Page 3

 
FINRAY IO LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

3.


Employees

The average monthly number of employees, including directors, during the period was 1.


4.


Debtors

2023
£


Prepayments and accrued income
136

136



5.


Creditors: Amounts falling due within one year

2023
£

Amounts owed to group undertakings
247

Other taxation and social security
3,612

Other creditors
11,388

Accruals and deferred income
1,200

16,447



6.


Share capital

2023
£
Allotted, called up and fully paid


10,000 Ordinary shares of £0.01 each
100


On the date of incorporation, 9th February 2022, 10,000 ordinary shares were issued with a value of £0.01 each.

 
Page 4