Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-3122022-06-01falseNo description of principal activity1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06563413 2022-06-01 2023-05-31 06563413 2021-06-01 2022-05-31 06563413 2023-05-31 06563413 2022-05-31 06563413 c:Director1 2022-06-01 2023-05-31 06563413 d:OfficeEquipment 2022-06-01 2023-05-31 06563413 d:OfficeEquipment 2023-05-31 06563413 d:OfficeEquipment 2022-05-31 06563413 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 06563413 d:CurrentFinancialInstruments 2023-05-31 06563413 d:CurrentFinancialInstruments 2022-05-31 06563413 d:Non-currentFinancialInstruments 2023-05-31 06563413 d:Non-currentFinancialInstruments 2022-05-31 06563413 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 06563413 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 06563413 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 06563413 d:Non-currentFinancialInstruments d:AfterOneYear 2022-05-31 06563413 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-05-31 06563413 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-05-31 06563413 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-05-31 06563413 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-05-31 06563413 d:ShareCapital 2023-05-31 06563413 d:ShareCapital 2022-05-31 06563413 d:RetainedEarningsAccumulatedLosses 2023-05-31 06563413 d:RetainedEarningsAccumulatedLosses 2022-05-31 06563413 c:FRS102 2022-06-01 2023-05-31 06563413 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 06563413 c:FullAccounts 2022-06-01 2023-05-31 06563413 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure

Registered number: 06563413









SEISMIK LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

 
SEISMIK LIMITED
REGISTERED NUMBER: 06563413

BALANCE SHEET
AS AT 31 MAY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
5,691
7,588

Current assets
  

Debtors: amounts falling due within one year
 5 
9,767
14,010

Cash at bank and in hand
  
3,113
2,467

  
12,880
16,477

Creditors: amounts falling due within one year
 6 
(7,860)
(10,935)

Net current assets
  
 
 
5,020
 
 
5,542

Total assets less current liabilities
  
10,711
13,130

Creditors: amounts falling due after more than one year
 7 
(8,305)
(10,783)

Provisions for liabilities
  

Deferred tax
  
(1,081)
(1,441)

Net assets
  
1,325
906


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
1,324
905

  
1,325
906


Page 1

 
SEISMIK LIMITED
REGISTERED NUMBER: 06563413
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 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 on 14 February 2024.




Simon Dunn
Director

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

Page 2

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

1.


General information

The company is a private limited company, which is incorporated and registered in England (registration number: 06563413). The address of the registered office is Cromwell House, 68 West Gate, Mansfield, Nottinghamshire, NG18 1RR.

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 financial statements have been prepared on the going concern basis. The director believes that the company has sufficient resources to be able to continue to trade until at least February 2025.
At the time of signing there is a degree of uncertainty about the full economic impact of COVID-19, the cost of living crisis and the wider geopolitical issues. The director continues to monitor the position closely, however believes that the company can continue at an appropriate level of activity, subject to the continued support of the bank.

 
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

Government grants

Grants of a revenue nature are recognised in the statement of comprehensive income upon receipt.

Page 3

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

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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 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.

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.

 
2.7

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 4

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

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
25% reducing balance

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.


3.


Employees

2023
2022
£
£

Wages and salaries
12,286
19,806

Social security costs
379
-

Cost of defined contribution scheme
-
58

12,665
19,864


The average monthly number of employees, including directors, during the year was 1 (2022 - 2).

Page 5

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

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 June 2022
27,918



At 31 May 2023

27,918



Depreciation


At 1 June 2022
20,330


Charge for the year on owned assets
1,897



At 31 May 2023

22,227



Net book value



At 31 May 2023
5,691



At 31 May 2022
7,588


5.


Debtors

2023
2022
£
£


Trade debtors
9,767
10,863

Other debtors
-
3,147

9,767
14,010


Page 6

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

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
2,508
2,508

Trade creditors
680
963

Corporation tax
3,097
5,545

Other taxation and social security
1,125
1,529

Other creditors
10
-

Accruals and deferred income
440
390

7,860
10,935



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
8,305
10,783



8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
2,508
2,508

Amounts falling due 1-2 years

Bank loans
3,009
3,009

Amounts falling due 2-5 years

Bank loans
5,296
7,774


10,813
13,291



9.


Transactions with director

During the year the director repaid an interest free loan from the company.  At the previous year end date £3,147 was owed to the company and was included in other debtors. 

 
Page 7