Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-312022-09-012falseConsulting2falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01909571 2022-09-01 2023-08-31 01909571 2021-09-01 2022-08-31 01909571 2023-08-31 01909571 2022-08-31 01909571 c:Director1 2022-09-01 2023-08-31 01909571 d:ComputerEquipment 2022-09-01 2023-08-31 01909571 d:ComputerEquipment 2023-08-31 01909571 d:ComputerEquipment 2022-08-31 01909571 d:CurrentFinancialInstruments 2023-08-31 01909571 d:CurrentFinancialInstruments 2022-08-31 01909571 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 01909571 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 01909571 d:ShareCapital 2023-08-31 01909571 d:ShareCapital 2022-08-31 01909571 d:SharePremium 2023-08-31 01909571 d:SharePremium 2022-08-31 01909571 d:RetainedEarningsAccumulatedLosses 2022-09-01 2023-08-31 01909571 d:RetainedEarningsAccumulatedLosses 2023-08-31 01909571 d:RetainedEarningsAccumulatedLosses 2022-08-31 01909571 c:OrdinaryShareClass1 2022-09-01 2023-08-31 01909571 c:OrdinaryShareClass1 2023-08-31 01909571 c:OrdinaryShareClass1 2022-08-31 01909571 c:FRS102 2022-09-01 2023-08-31 01909571 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 01909571 c:FullAccounts 2022-09-01 2023-08-31 01909571 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 01909571 e:PoundSterling 2022-09-01 2023-08-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 01909571









PSYCHOMETRIC RESEARCH & DEVELOPMENT LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2023

 
PSYCHOMETRIC RESEARCH & DEVELOPMENT LIMITED
REGISTERED NUMBER:01909571

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
  
17,530
17,531

Debtors: amounts falling due within one year
 6 
4,406
78,038

Cash at bank and in hand
  
116,787
42,375

  
138,723
137,944

Creditors: amounts falling due within one year
 7 
(5,642)
(5,240)

Net current assets
  
 
 
133,081
 
 
132,704

Total assets less current liabilities
  
133,081
132,704

  

Net assets
  
133,081
132,704


Capital and reserves
  

Called up share capital 
 8 
100
100

Share premium account
 9 
2,400
2,400

Profit and loss account
 9 
130,581
130,204

  
133,081
132,704


Page 1

 
PSYCHOMETRIC RESEARCH & DEVELOPMENT LIMITED
REGISTERED NUMBER:01909571
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 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 profit and loss account 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: 




S. F. Blinkhorn
Director

Date: 11 March 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
PSYCHOMETRIC RESEARCH & DEVELOPMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

Psychometric Research & Development Limited is a private company limited by shares and incorporated in England & Wales under the Companies Act 2006. The address of the registered office is given on the Company information page.

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

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Therefore, the directors have adopted the going concern basis of accounting in preparing the financial statements.

 
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

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.

Page 3

 
PSYCHOMETRIC RESEARCH & DEVELOPMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.5

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, as shown below.

Depreciation is provided on the following basis:

Computer equipment
-
Over 3 years

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.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.
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.

 
2.7

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.

 
2.8

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.

 
2.9

Creditors

Short term creditors are measured at the transaction price.

 
2.10

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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are
Page 4

 
PSYCHOMETRIC RESEARCH & DEVELOPMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)


2.10
Financial instruments (continued)

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.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. The nature of estimation means the actual outcomes could differ from those estimates.


4.


Employees




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

Page 5

 
PSYCHOMETRIC RESEARCH & DEVELOPMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

5.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 September 2022
13,051



At 31 August 2023

13,051



Depreciation


At 1 September 2022
13,051



At 31 August 2023

13,051



Net book value



At 31 August 2023
-



At 31 August 2022
-

Page 6

 
PSYCHOMETRIC RESEARCH & DEVELOPMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

6.


Debtors

2023
2022
£
£


Other debtors
2,750
76,382

Prepayments and accrued income
1,656
1,656

4,406
78,038



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
280
157

Corporation tax
25
-

Other creditors
5,337
5,083

5,642
5,240



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



9.


Reserves

Profit and loss account

The balance on the profit and loss account represents the distributable reserves of the company.

Page 7

 
PSYCHOMETRIC RESEARCH & DEVELOPMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

10.


Related party transactions

The Company is related by common control to Hectare Limited and Synsemetrics Limited.
During the year, license and royalty fees of £18,960 (2022: £17,790) were charged by the Company to Synsemetrics Limited.
During the year, S. F. Blinkhorn received £5,688 (2022: £5,391) in respect of royalties. As at the balance sheet date, the company owed S. F. Blinkhorn £2,187 (2022: £1,994).
As at the balance sheet date, there were balances outstanding with the following related companies:


2023
2022
£
£

Synsemetrics Limited
2,259
76,155
2,259
76,155


11.


Controlling party

The ultimate controlling party in both the current and comparative year is S. F. Blinkhorn by virtue of his majority shareholding.

 
Page 8