Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-31trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-06-01false54true 05862103 2022-06-01 2023-05-31 05862103 2021-06-01 2022-05-31 05862103 2023-05-31 05862103 2022-05-31 05862103 2021-06-01 05862103 c:Director2 2022-06-01 2023-05-31 05862103 d:OfficeEquipment 2022-06-01 2023-05-31 05862103 d:ComputerEquipment 2022-06-01 2023-05-31 05862103 d:OtherPropertyPlantEquipment 2023-05-31 05862103 d:OtherPropertyPlantEquipment 2022-05-31 05862103 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 05862103 d:CurrentFinancialInstruments 2023-05-31 05862103 d:CurrentFinancialInstruments 2022-05-31 05862103 d:Non-currentFinancialInstruments 2023-05-31 05862103 d:Non-currentFinancialInstruments 2022-05-31 05862103 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 05862103 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 05862103 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 05862103 d:Non-currentFinancialInstruments d:AfterOneYear 2022-05-31 05862103 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-05-31 05862103 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-05-31 05862103 d:ShareCapital 2023-05-31 05862103 d:ShareCapital 2022-05-31 05862103 d:RetainedEarningsAccumulatedLosses 2023-05-31 05862103 d:RetainedEarningsAccumulatedLosses 2022-05-31 05862103 c:OrdinaryShareClass1 2022-06-01 2023-05-31 05862103 c:OrdinaryShareClass1 2023-05-31 05862103 c:FRS102 2022-06-01 2023-05-31 05862103 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 05862103 c:FullAccounts 2022-06-01 2023-05-31 05862103 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 05862103 d:Subsidiary1 2022-06-01 2023-05-31 05862103 d:Subsidiary1 1 2022-06-01 2023-05-31 05862103 6 2022-06-01 2023-05-31 05862103 d:TaxLossesCarry-forwardsDeferredTax 2023-05-31 05862103 d:TaxLossesCarry-forwardsDeferredTax 2022-05-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 05862103









WRITE THE TALK LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2023

 
WRITE THE TALK LIMITED
REGISTERED NUMBER: 05862103

BALANCE SHEET
AS AT 31 MAY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
24

Investments
 5 
1
1

  
1
25

Current assets
  

Debtors: amounts falling due within one year
 6 
159,218
110,164

Cash at bank and in hand
  
14,191
438

Current liabilities
  
173,409
110,602

Creditors: amounts falling due within one year
 7 
(163,296)
(192,090)

Net current assets/(liabilities)
  
 
 
10,113
 
 
(81,488)

Total assets less current liabilities
  
10,114
(81,463)

Creditors: amounts falling due after more than one year
 8 
(91,957)
(71,668)

  

Net liabilities
  
(81,843)
(153,131)


Capital and reserves
  

Called up share capital 
 11 
2
2

Profit and loss account
  
(81,845)
(153,133)

  
(81,843)
(153,131)


Page 1

 
WRITE THE TALK LIMITED
REGISTERED NUMBER: 05862103

BALANCE SHEET (CONTINUED)
AS AT 31 MAY 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: 


Mrs S L Madigan
Director

Date: 12 February 2024

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
WRITE THE TALK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.


GENERAL INFORMATION

Write the Talk Limited is a private Company limited by shares, incorporated in England and Wales within the United Kingdom. The address of the registered office is Bramley House, 4 Runnings Park, Malvern, Worcestershire, WR14 4DU. This Company is part of a group.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

GOING CONCERN

The company is only able to trade with the continuing support of the directors' and parent company. The directors have indicated that this support will not be withdrawn. On this basis, the directors' consider it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result from the withdrawal of this support. 

 
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.

Page 3

 
WRITE THE TALK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 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.

The Company has taken advantage of the optional exemption available on transition to FRS 102 which allows lease incentives on leases entered into before the date of transition to the standard 01 June 2021 to continue to be charged over the period to the first market rent review rather than the term of the lease.

 
2.6

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 Income and Retained Earnings in the same period as the related expenditure.

 
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.

 
2.8

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
WRITE THE TALK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.9

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.

 
2.10

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. 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 corporation 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.

Page 5

 
WRITE THE TALK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.11

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:

Office equipment
-
33%
straight line
Computer equipment
-
33%
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.

 
2.12

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.13

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.

 
2.14

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.

 
2.15

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.

Page 6

 
WRITE THE TALK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.16

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.17

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


EMPLOYEES

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

Page 7

 
WRITE THE TALK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

4.


TANGIBLE FIXED ASSETS





Other fixed assets

£



COST


At 1 June 2022
21,791



At 31 May 2023

21,791



Depreciation


At 1 June 2022
21,767


Charge for the year on owned assets
24



At 31 May 2023

21,791



Net book value



At 31 May 2023
-



At 31 May 2022
24

Page 8

 
WRITE THE TALK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

5.


FIXED ASSET INVESTMENTS





Investments in subsidiary companies

£



Cost 


At 1 June 2022
1



At 31 May 2023
1





SUBSIDIARY UNDERTAKING


The following was a subsidiary undertaking of the Company:

Name

Class of shares

Holding

Write The Talk (Hong Kong) Limited
Ordinary
100%

The aggregate of the share capital and reserves as at 31 May 2023 and the profit or loss for the year ended on that date for the subsidiary undertaking was as follows:

Name
Profit/(Loss)

Write The Talk (Hong Kong) Limited
(40,784)


6.


DEBTORS

2023
2022
£
£


Trade debtors
76,230
50,177

Other debtors
80,642
48,255

Prepayments
986
1,999

Deferred taxation
1,360
9,733

159,218
110,164


Page 9

 
WRITE THE TALK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

7.


CREDITORS: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
-
14,892

Bank loans
54,509
35,744

Trade creditors
2,755
1,155

Corporation tax
8,727
-

Other taxation and social security
31,215
17,852

Other creditors
59,680
118,139

Accruals
6,410
4,308

163,296
192,090



8.


CREDITORS: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
91,957
71,668



9.


LOANS


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
54,509
35,744


Amounts falling due 2-5 years

Bank loans
91,957
71,668


146,466
107,412


Page 10

 
WRITE THE TALK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

10.


DEFERRED TAXATION




2023
2022


£

£






At beginning of year
9,733
14,964


Charged to profit or loss
(8,373)
(5,231)



At end of year
1,360
9,733

The deferred tax asset is made up as follows:

2023
2022
£
£


Tax losses carried forward
1,360
9,733


11.


SHARE CAPITAL

2023
2022
£
£
Allotted, called up and fully paid



2 Ordinary shares of £1.00 each
2
2



12.


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 £2,943 (2022 - £2,208). No contributions (2022 - £Nil) were payable to the fund at the balance sheet date.


13.DIRECTORS' PERSONAL GUARANTEES

The directors have personal guarantees for the Company loans and overdraft facility totalling £175,000.


14.


RELATED PARTY TRANSACTIONS

During the year the Company operated loans with the directors of the Company. The amount payable to the directors of the Company at the year end was £45,350 (2022 - £103,350). These loans are interest free and repayable on demand.
During the year the Company operated a loan account with Write The Talk (Hong Kong) Limited, a subsidiary company. The balance due from the Company at the year end was £80,642 (2022 - £48,255). This loan is interest free and repayable on demand.


Page 11