Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-30true6false2022-07-01Information Technology Consultancy Activities11falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06456919 2022-07-01 2023-06-30 06456919 2021-07-01 2022-06-30 06456919 2023-06-30 06456919 2022-06-30 06456919 c:Director1 2022-07-01 2023-06-30 06456919 d:MotorVehicles 2022-07-01 2023-06-30 06456919 d:MotorVehicles 2023-06-30 06456919 d:MotorVehicles 2022-06-30 06456919 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 06456919 d:FurnitureFittings 2022-07-01 2023-06-30 06456919 d:FurnitureFittings 2023-06-30 06456919 d:FurnitureFittings 2022-06-30 06456919 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 06456919 d:ComputerEquipment 2022-07-01 2023-06-30 06456919 d:ComputerEquipment 2023-06-30 06456919 d:ComputerEquipment 2022-06-30 06456919 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 06456919 d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 06456919 d:CurrentFinancialInstruments 2023-06-30 06456919 d:CurrentFinancialInstruments 2022-06-30 06456919 d:Non-currentFinancialInstruments 2023-06-30 06456919 d:Non-currentFinancialInstruments 2022-06-30 06456919 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 06456919 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 06456919 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 06456919 d:Non-currentFinancialInstruments d:AfterOneYear 2022-06-30 06456919 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-06-30 06456919 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-06-30 06456919 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-06-30 06456919 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-06-30 06456919 d:ShareCapital 2023-06-30 06456919 d:ShareCapital 2022-06-30 06456919 d:OtherMiscellaneousReserve 2023-06-30 06456919 d:OtherMiscellaneousReserve 2022-06-30 06456919 d:RetainedEarningsAccumulatedLosses 2023-06-30 06456919 d:RetainedEarningsAccumulatedLosses 2022-06-30 06456919 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 06456919 d:AcceleratedTaxDepreciationDeferredTax 2022-06-30 06456919 d:TaxLossesCarry-forwardsDeferredTax 2023-06-30 06456919 d:TaxLossesCarry-forwardsDeferredTax 2022-06-30 06456919 c:FRS102 2022-07-01 2023-06-30 06456919 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 06456919 c:FullAccounts 2022-07-01 2023-06-30 06456919 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure

Registered number: 06456919









ETHERLIVE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2023

 
ETHERLIVE LIMITED
REGISTERED NUMBER: 06456919

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
42,536
83,981

  
42,536
83,981

Current assets
  

Stocks
 5 
-
11,590

Debtors
 6 
773,381
581,661

Cash at bank and in hand
 7 
152,879
162,886

  
926,260
756,137

Creditors: amounts falling due within one year
 8 
(880,794)
(962,141)

Net current assets/(liabilities)
  
 
 
45,466
 
 
(206,004)

Total assets less current liabilities
  
88,002
(122,023)

Creditors: amounts falling due after more than one year
 9 
(19,870)
(30,000)

  

Net assets/(liabilities)
  
68,132
(152,023)


Capital and reserves
  

Called up share capital 
  
6,790
6,790

Other reserves
  
253,059
253,059

Profit and loss account
  
(191,717)
(411,872)

  
68,132
(152,023)


Page 1

 
ETHERLIVE LIMITED
REGISTERED NUMBER: 06456919
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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: 




P Yeomans
Director

Date: 4 March 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
ETHERLIVE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

Etherlive Limited is a private company, limited by shares, incorporated in the United Kingdom and registered in England and Wales. The company's registered office address is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.
The financial statements are presented in Sterling, which is the functional currency of the company.

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 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

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.

 
2.3

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.

Page 3

 
ETHERLIVE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.4

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.

 
2.5

Borrowing costs

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

 
2.6

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.

 
2.7

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.

Page 4

 
ETHERLIVE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.8

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:

Motor vehicles
-
25%
on straight line method
Fixtures and fittings
-
25%
on straight line method
Computer equipment
-
25%
on straight line method

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.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

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.

 
2.11

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.

 
2.12

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 5

 
ETHERLIVE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.13

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.


3.


Employees

The average monthly number of employees, including the director, during the year was as follows:


        2023
        2022
            No.
            No.







Employees
6
11

Page 6

 
ETHERLIVE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 July 2022
27,776
38,360
628,233
694,369


Additions
-
931
6,738
7,669


Disposals
(13,286)
-
(6,983)
(20,269)



At 30 June 2023

14,490
39,291
627,988
681,769



Depreciation


At 1 July 2022
23,549
38,287
548,552
610,388


Charge for the year on owned assets
3,623
1,004
37,504
42,131


Disposals
(13,286)
-
-
(13,286)



At 30 June 2023

13,886
39,291
586,056
639,233



Net book value



At 30 June 2023
604
-
41,932
42,536



At 30 June 2022
4,227
73
79,681
83,981


5.


Stocks

2023
2022
£
£

Finished goods
-
11,590

-
11,590


Page 7

 
ETHERLIVE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

6.


Debtors


2023
2022
£
£



Trade debtors
204,332
317,412

Amounts owed by group undertakings
452,452
160,617

Other debtors
7,062
8

Prepayments and accrued income
15,850
9,939

Deferred taxation
93,685
93,685

773,381
581,661



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
152,879
162,886

152,879
162,886



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,000
8,864

Trade creditors
6,274
141,191

Amounts owed to group undertakings
682,965
524,498

Other taxation and social security
107,761
105,110

Other creditors
13,090
18,085

Accruals and deferred income
60,704
164,393

880,794
962,141


The bank overdrafts are repayable on demand and are secured by fixed and floating charges on the assets of the company.

Page 8

 
ETHERLIVE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
19,870
30,000

19,870
30,000



10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,000
8,864


10,000
8,864

Amounts falling due 1-2 years

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 2-5 years

Bank loans
9,870
20,000


9,870
20,000


29,870
38,864


Page 9

 
ETHERLIVE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

11.


Deferred taxation




2023


£






At beginning of year
93,685



At end of year
93,685

The deferred tax asset is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(20,056)
(20,056)

Tax losses carried forward
113,741
113,741

93,685
93,685


12.


Pension commitments

The Company operates a defined contributions scheme. The assets of the scheme are held separately from those of the company in an independent administrated fund. The pension cost charged represents contributions payable by the Company to the fund and amounted to £5,054 (2022: £7,572). Contributions totalling £Nil (2022: £3,019) were payable to the fund at 30 June 2022 and are included within creditors.


13.


Controlling party

The parent company is PMY Technologies (UK) Limited; a company registered in England & Wales.

 
Page 10