Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true2022-07-01falseNo description of principal activity53true 10809917 2022-07-01 2023-06-30 10809917 2021-07-01 2022-06-30 10809917 2023-06-30 10809917 2022-06-30 10809917 c:Director1 2022-07-01 2023-06-30 10809917 d:FurnitureFittings 2022-07-01 2023-06-30 10809917 d:FurnitureFittings 2023-06-30 10809917 d:FurnitureFittings 2022-06-30 10809917 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 10809917 d:ComputerEquipment 2022-07-01 2023-06-30 10809917 d:ComputerEquipment 2023-06-30 10809917 d:ComputerEquipment 2022-06-30 10809917 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 10809917 d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 10809917 d:Goodwill 2023-06-30 10809917 d:Goodwill 2022-06-30 10809917 d:CurrentFinancialInstruments 2023-06-30 10809917 d:CurrentFinancialInstruments 2022-06-30 10809917 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 10809917 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 10809917 d:ShareCapital 2023-06-30 10809917 d:ShareCapital 2022-06-30 10809917 d:SharePremium 2023-06-30 10809917 d:SharePremium 2022-06-30 10809917 d:CapitalRedemptionReserve 2023-06-30 10809917 d:CapitalRedemptionReserve 2022-06-30 10809917 d:RetainedEarningsAccumulatedLosses 2023-06-30 10809917 d:RetainedEarningsAccumulatedLosses 2022-06-30 10809917 c:OrdinaryShareClass1 2022-07-01 2023-06-30 10809917 c:OrdinaryShareClass1 2023-06-30 10809917 c:OrdinaryShareClass2 2022-07-01 2023-06-30 10809917 c:OrdinaryShareClass2 2022-06-30 10809917 c:FRS102 2022-07-01 2023-06-30 10809917 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 10809917 c:FullAccounts 2022-07-01 2023-06-30 10809917 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 10809917 2 2022-07-01 2023-06-30 10809917 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 10809917 d:AcceleratedTaxDepreciationDeferredTax 2022-06-30 10809917 d:Goodwill d:OwnedIntangibleAssets 2022-07-01 2023-06-30 10809917 e:PoundSterling 2022-07-01 2023-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10809917










KA2 LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2023

 
KA2 LIMITED
REGISTERED NUMBER: 10809917

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 6 
75,999
94,999

Tangible assets
 7 
7,008
4,803

  
83,007
99,802

Current assets
  

Debtors: amounts falling due within one year
 8 
221,897
397,887

Cash at bank and in hand
  
126,108
84,615

  
348,005
482,502

Creditors: amounts falling due within one year
 9 
(237,071)
(200,419)

Net current assets
  
 
 
110,934
 
 
282,083

Total assets less current liabilities
  
193,941
381,885

Provisions for liabilities
  

Deferred tax
 10 
(1,712)
(1,173)

  
 
 
(1,712)
 
 
(1,173)

Net assets
  
192,229
380,712


Capital and reserves
  

Called up share capital 
 11 
100
111

Share premium account
  
2,889
2,889

Capital redemption reserve
  
11
-

Profit and loss account
  
189,229
377,712

  
192,229
380,712

Page 1

 
KA2 LIMITED
REGISTERED NUMBER: 10809917
    
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 her 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: 




C D Andrews
Director

Date: 29 February 2024

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

Page 2

 
KA2 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

KA2 Limited is a private company limited by shares incorporated in England and Wales.The address of the registered office is 1 Tolherst Court, Turkey Mill, Ashford Road, Maidstone, Kent, ME14 5SF. 
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1. 

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 judgement in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis. No material uncertainties
that may cast significant doubt about the ability of the company to continue as a going concern have
been identified by the director.
The company is continuing to invest in research and development activities and, whilst this is ongoing, support is being provided by other group companies.

 
2.3

Turnover

Turnover represents amounts receivable for goods and services, net of VAT and trade discounts. Contract work income is recognised when the service has been provided by the contractor.

 
2.4

Research and development

Research and development costs incurred in connection with the development of software are included in profit and loss. Research and Development tax relief eligible on costs developing the software is recognised once the claim has been prepared for submission to HM Revenue & Customs.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
KA2 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
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.

 
2.8

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of income and retained earnings over its useful economic life.

Page 4

 
KA2 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.9

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:

Fixtures and fittings
-
15%
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.

 
2.10

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.

 
2.13

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.

Page 5

 
KA2 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.14

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. 


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

No significant judgements have been made by management in preparing these financial statements.  


4.


Employees

The average monthly number of employees, including directors, during the year was 5 (2022 - 3).


5.


Taxation

The tax credit in the profit and loss of £125,717 (2022: £111,546) comprises amounts due from other group companies of £7,798 (2022: £42,136) for losses surrendered, refund to be claimed from HMRC for R&D tax relief of £118,547 (2022: £70,548), an adjustment to the 2022 tax position of £89 (2022: £35) less deferred tax movement for the year of £539 (2022: £1,173).

Page 6

 
KA2 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

6.


Intangible assets




Goodwill

£



Cost


At 1 July 2022
189,999



At 30 June 2023

189,999



Amortisation


At 1 July 2022
95,000


Charge for the year on owned assets
19,000



At 30 June 2023

114,000



Net book value



At 30 June 2023
75,999



At 30 June 2022
94,999



Page 7

 
KA2 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

7.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 July 2022
4,518
1,531
6,049


Additions
-
5,057
5,057



At 30 June 2023

4,518
6,588
11,106



Depreciation


At 1 July 2022
678
568
1,246


Charge for the year on owned assets
678
2,174
2,852



At 30 June 2023

1,356
2,742
4,098



Net book value



At 30 June 2023
3,162
3,846
7,008



At 30 June 2022
3,840
963
4,803


8.


Debtors

2023
2022
£
£


Trade debtors
78,951
318,189

Amounts owed by group undertakings
20,459
3,950

Other debtors
118,547
74,578

Prepayments and accrued income
3,940
1,170

221,897
397,887


Included in other debtors for 2022 is the Research and Development tax relief for 2022 of £70,548. For the 2023 other debtors, there is Research and Development tax relief for 2023 of £118,547.

Page 8

 
KA2 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
29,360
35,832

Amounts owed to group undertakings
142,241
121,100

Other taxation and social security
14,823
12,911

Other creditors
14,823
17,126

Accruals and deferred income
35,824
13,450

237,071
200,419



10.


Deferred taxation




2023


£






At beginning of year
(1,173)


Charged to profit or loss
(539)



At end of year
(1,712)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(1,712)
(1,173)

(1,712)
(1,173)

Page 9

 
KA2 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



10,000 Ordinary shares of £0.01 each
100
100
1,111 Ordinary B shares of £0.01 each
-
11

100

111

On 4 April 2023 the company repurchased 1,111 ordinary B shares for a consideration of £1,500.



12.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held seperately 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 £2,450 (2022: £1,321). Contributions totalling £372 (2022: £257) were payable to the fund at the balance sheet date and are included in creditors. 

 
Page 10