Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-3144falsetrue2022-04-01trueReady-made interactive leisure and entertainment software development.The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11273134 2022-04-01 2022-12-31 11273134 2021-04-01 2022-03-31 11273134 2022-12-31 11273134 2022-03-31 11273134 2021-04-01 11273134 c:Director2 2022-04-01 2022-12-31 11273134 d:OfficeEquipment 2022-04-01 2022-12-31 11273134 d:OfficeEquipment 2022-12-31 11273134 d:OfficeEquipment 2022-03-31 11273134 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2022-12-31 11273134 d:ComputerEquipment 2022-04-01 2022-12-31 11273134 d:ComputerEquipment 2022-12-31 11273134 d:ComputerEquipment 2022-03-31 11273134 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-04-01 2022-12-31 11273134 d:OwnedOrFreeholdAssets 2022-04-01 2022-12-31 11273134 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 11273134 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-03-31 11273134 d:CurrentFinancialInstruments 2022-12-31 11273134 d:CurrentFinancialInstruments 2022-03-31 11273134 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11273134 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 11273134 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 11273134 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 11273134 d:ShareCapital 2022-04-01 2022-12-31 11273134 d:ShareCapital 2022-12-31 11273134 d:ShareCapital 2021-04-01 2022-03-31 11273134 d:ShareCapital 2022-03-31 11273134 d:ShareCapital 2021-04-01 11273134 d:SharePremium 2022-04-01 2022-12-31 11273134 d:SharePremium 2022-12-31 11273134 d:SharePremium 2021-04-01 2022-03-31 11273134 d:SharePremium 2022-03-31 11273134 d:SharePremium 2021-04-01 11273134 d:RetainedEarningsAccumulatedLosses 2022-04-01 2022-12-31 11273134 d:RetainedEarningsAccumulatedLosses 2022-12-31 11273134 d:RetainedEarningsAccumulatedLosses 2021-04-01 2022-03-31 11273134 d:RetainedEarningsAccumulatedLosses 2022-03-31 11273134 d:RetainedEarningsAccumulatedLosses 2021-04-01 11273134 c:OrdinaryShareClass1 2022-04-01 2022-12-31 11273134 c:OrdinaryShareClass1 2022-12-31 11273134 c:OrdinaryShareClass1 2022-03-31 11273134 c:OrdinaryShareClass2 2022-04-01 2022-12-31 11273134 c:OrdinaryShareClass2 2022-12-31 11273134 c:OrdinaryShareClass2 2022-03-31 11273134 c:FRS102 2022-04-01 2022-12-31 11273134 c:AuditExempt-NoAccountantsReport 2022-04-01 2022-12-31 11273134 c:FullAccounts 2022-04-01 2022-12-31 11273134 c:PrivateLimitedCompanyLtd 2022-04-01 2022-12-31 11273134 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:InternallyGeneratedIntangibleAssets 2022-04-01 2022-12-31 11273134 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2022-04-01 2022-12-31 11273134 e:PoundSterling 2022-04-01 2022-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 11273134










LABOURS OF HERCULES LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2022

 
LABOURS OF HERCULES LTD
REGISTERED NUMBER: 11273134

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2022

31 December
31 March
2022
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
707,322
856,801

Tangible assets
 5 
-
17,596

  
707,322
874,397

Current assets
  

Debtors: amounts falling due within one year
 6 
165,077
234,041

Cash at bank and in hand
  
73,204
248,937

  
238,281
482,978

Creditors: amounts falling due within one year
 7 
(5,765)
(70,328)

Net current assets
  
 
 
232,516
 
 
412,650

Total assets less current liabilities
  
939,838
1,287,047

Creditors: amounts falling due after more than one year
  
(3,522)
-

  

Net assets
  
936,316
1,287,047


Capital and reserves
  

Called up share capital 
  
165
164

Share premium account
  
2,066,788
2,016,818

Profit and loss account
  
(1,130,637)
(729,935)

  
936,316
1,287,047


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 period 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 comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
Page 1

 
LABOURS OF HERCULES LTD
REGISTERED NUMBER: 11273134
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2022


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
S W Britton
Director

Date: 6 February 2024

The notes on pages 4 to 10 form part of these financial statements.

Page 2

 

 
LABOURS OF HERCULES LTD


 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 DECEMBER 2022



Called up share capital
Share premium account
Profit and loss account
Total equity


£
£
£
£



At 1 April 2021
151
1,143,310
(291,454)
852,007





Loss for the year
-
-
(438,481)
(438,481)


Shares issued during the year
13
873,508
-
873,521





At 1 April 2022
164
2,016,818
(729,935)
1,287,047





Loss for the period
-
-
(400,702)
(400,702)


Shares issued during the period
1
49,970
-
49,971



At 31 December 2022
165
2,066,788
(1,130,637)
936,316



The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
LABOURS OF HERCULES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

1.


General information

Labours of Hercules is a private company, limited by shares, incorporated in the United Kingdom and
registered in England and Wales (Registered number 11273134). The company's registered office
address is 2b Woodcourt Road, Harbertonford, Totnes, England, TQ9 7TY.

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

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.

Page 4

 
LABOURS OF HERCULES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
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

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 of 5 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 research phase only.

 
2.5

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 Statement of Comprehensive Income in the same period as the related expenditure.

 
2.6

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 5

 
LABOURS OF HERCULES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.7

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.

 
2.8

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 reporting date in the countries where the Company operates and generates income.

 
2.9

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.

The estimated useful lives range as follows:
Development expenditure - 5 years

 
2.10

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 6

 
LABOURS OF HERCULES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

2.Accounting policies (continued)


2.10
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
-
20%
Computer equipment
-
20%

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.

 
2.11

Debtors

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

 
2.12

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.13

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.


3.


Employees

Period ended
31 December
Year ended
31 March
2022
2022
£
£

Wages and salaries
98,869
198,439

Social security costs
3,402
15,679

Cost of defined contribution scheme
1,793
4,242

104,064
218,360


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

Page 7

 
LABOURS OF HERCULES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

4.


Intangible assets






Development expenditure

£



Cost


At 1 April 2022
1,283,082


Additions
40,352



At 31 December 2022

1,323,434



Amortisation


At 1 April 2022
426,281


Charge for the period
189,831



At 31 December 2022

616,112



Net book value



At 31 December 2022
707,322



At 31 March 2022
856,801



Page 8

 
LABOURS OF HERCULES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

5.


Tangible fixed assets







Office equipment
Computer equipment
Total

£
£
£



Cost


At 1 April 2022
11,774
10,708
22,482


Additions
-
644
644


Disposals
(11,774)
(11,352)
(23,126)



At 31 December 2022

-
-
-


At 1 April 2022
1,882
3,004
4,886


Charge for the period
1,570
1,490
3,060


Disposals
(3,452)
(4,494)
(7,946)



At 31 December 2022

-
-
-



Net book value



At 31 December 2022
-
-
-



At 31 March 2022
9,892
7,704
17,596


6.


Debtors

31 December
31 March
2022
2022
£
£


Trade debtors
2,925
2,629

Other debtors
9,680
24,584

Prepayments
-
1,342

Tax recoverable
152,472
205,486

165,077
234,041


Page 9

 
LABOURS OF HERCULES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

7.


Creditors: amounts falling due within one year

31 December
31 March
2022
2022
£
£

Trade creditors
300
54,462

Other taxation and social security
3,215
7,070

Other creditors
-
7,296

Accruals
2,250
1,500

5,765
70,328



8.


Share capital

31 December
31 March
2022
2022
£
£
Allotted, called up and fully paid



76,819 (Year ended 31 March 2022: 76,819) Ordinary shares of £0.001 each
77
77
88,103 (Year ended 31 March 2022: 86,695) Non-voting shares of £0.001 each
88
87

165

164


During the period, the Company issued 1408 (Year ended 31 March 2022: 13,203) Non-voting Ordinary shares of £0.001 each.
The Ordinary shares and Non-voting shares have the same dividend and distributions rights.


9.


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 £1,793 (Year ended 31 March 2022: £4,242). Contributions totalling £Nil (Year ended 31 March 2022: £1,089) were payable to the fund at the reporting date and are included in Other creditors.

 
Page 10