Caseware UK (AP4) 2022.0.179 2022.0.179 No description of principal activity12022-09-01false1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC513574 2022-09-01 2023-08-31 SC513574 2021-09-01 2022-08-31 SC513574 2023-08-31 SC513574 2022-08-31 SC513574 c:Director1 2022-09-01 2023-08-31 SC513574 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-09-01 2023-08-31 SC513574 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-08-31 SC513574 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-08-31 SC513574 d:CurrentFinancialInstruments 2023-08-31 SC513574 d:CurrentFinancialInstruments 2022-08-31 SC513574 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 SC513574 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 SC513574 d:ShareCapital 2023-08-31 SC513574 d:ShareCapital 2022-08-31 SC513574 d:RetainedEarningsAccumulatedLosses 2023-08-31 SC513574 d:RetainedEarningsAccumulatedLosses 2022-08-31 SC513574 c:FRS102 2022-09-01 2023-08-31 SC513574 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 SC513574 c:FullAccounts 2022-09-01 2023-08-31 SC513574 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 SC513574 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure

Registered number: SC513574









Poolside Worldwide Corporation Limited







Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 August 2023

 
Poolside Worldwide Corporation Limited
Registered number: SC513574

Balance Sheet
As at 31 August 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
6,944
558,765

  
6,944
558,765

Current assets
  

Stocks
  
201,458
-

Debtors: amounts falling due within one year
 5 
-
15,217

Cash at bank and in hand
 6 
894
45,621

  
202,352
60,838

Creditors: amounts falling due within one year
 7 
(84,379)
(169,997)

Net current assets/(liabilities)
  
 
 
117,973
 
 
(109,159)

Total assets less current liabilities
  
124,917
449,606

  

Net assets
  
124,917
449,606


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
124,916
449,605

  
124,917
449,606


Page 1

 
Poolside Worldwide Corporation Limited
Registered number: SC513574
    
Balance Sheet (continued)
As at 31 August 2023

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 year 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 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 by: 




M Bell
Director
Date: 13 February 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
Poolside Worldwide Corporation Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 31 August 2023

1.


General information

Poolside Worldwide Corporation Limited is a private company limited by shares, incorporated in England & Wales (registered number: SC513574). The registered office is 18 Barnyards, Beauly, Inverness-Shire, Scotalnd, IV4 7AT. The Company's principal activity is the supply of digital assets.  

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

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Page 3

 
Poolside Worldwide Corporation Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 31 August 2023

2.Accounting policies (continued)

 
2.3

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, which range from 3 to 6 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.

 
2.4

Borrowing costs

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

 
2.5

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.

 
2.6

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.

Intangible assets consisting of digital assets held for investment are determined to have an indefinite useful economic life, these are therefore not amortised but reviewed and tested for impairment on a regular basis.

 
2.7

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

Page 4

 
Poolside Worldwide Corporation Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 31 August 2023

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

2023
2022
£
£

Wages and salaries
-
180

-
180


The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 5

 
Poolside Worldwide Corporation Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 31 August 2023

4.


Intangible assets




Digital Assets

£



Cost


At 1 September 2022
606,531


Additions
5,993


Disposals
(557,754)



At 31 August 2023

54,770



Amortisation


At 1 September 2022
47,767


Impairment charge
59



At 31 August 2023

47,826



Net book value



At 31 August 2023
6,944



At 31 August 2022
558,764




5.


Debtors

2023
2022
£
£


Directors loan account
-
15,217

-
15,217


Page 6

 
Poolside Worldwide Corporation Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 31 August 2023

6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
894
45,621

Less: bank overdrafts
-
(3,741)

894
41,880



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
-
3,741

Corporation tax
79,579
144,079

Other creditors
-
1,100

Accruals and deferred income
4,800
21,077

84,379
169,997


 
Page 7