Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31false2022-04-01No description of principal activity22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10086761 2022-04-01 2023-03-31 10086761 2021-04-01 2022-03-31 10086761 2023-03-31 10086761 2022-03-31 10086761 c:Director1 2022-04-01 2023-03-31 10086761 d:ComputerEquipment 2022-04-01 2023-03-31 10086761 d:ComputerEquipment 2023-03-31 10086761 d:ComputerEquipment 2022-03-31 10086761 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 10086761 d:CurrentFinancialInstruments 2023-03-31 10086761 d:CurrentFinancialInstruments 2022-03-31 10086761 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10086761 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 10086761 d:ShareCapital 2023-03-31 10086761 d:ShareCapital 2022-03-31 10086761 d:RetainedEarningsAccumulatedLosses 2023-03-31 10086761 d:RetainedEarningsAccumulatedLosses 2022-03-31 10086761 c:FRS102 2022-04-01 2023-03-31 10086761 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 10086761 c:FullAccounts 2022-04-01 2023-03-31 10086761 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 10086761










ELLYPSIS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

 
ELLYPSIS LIMITED
REGISTERED NUMBER: 10086761

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
3
176

  
3
176

Current assets
  

Debtors: amounts falling due within one year
 5 
20,530
17,935

Cash at bank and in hand
 6 
41,696
43,665

  
62,226
61,600

Creditors: amounts falling due within one year
 7 
(59,763)
(53,380)

Net current assets
  
 
 
2,463
 
 
8,220

  

Net assets
  
2,466
8,396


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
2,366
8,296

  
2,466
8,396


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: 

E Lefranc
Director

Date: 6 March 2024

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 
ELLYPSIS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Ellypsis Limited is a private company, limited by shares, registered in England and Wales, registration number 10086761. The registered office is 6th Floor, 2 London Wall Place, London, United Kingdom,  EC2Y 5AU.

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

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 2

 
ELLYPSIS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
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 reporting 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 reporting 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 reporting date.

 
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.

Page 3

 
ELLYPSIS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

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:

Computer equipment
-
3 years 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.

 
2.6

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.

 
2.7

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.

 
2.8

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.

 
2.9

Financial instruments

The Company only enters into basic financial instrument 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.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Page 4

 
ELLYPSIS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.9
Financial instruments (continued)

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and loss account.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the Statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.10

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

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

Page 5

 
ELLYPSIS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 April 2022
5,497



At 31 March 2023

5,497



Depreciation


At 1 April 2022
5,321


Charge for the year on owned assets
173



At 31 March 2023

5,494



Net book value



At 31 March 2023
3



At 31 March 2022
176


5.


Debtors

2023
2022
£
£


Trade debtors
20,530
17,935

20,530
17,935



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
41,696
43,665

41,696
43,665


Page 6

 
ELLYPSIS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
1,451
-

Corporation tax
23,514
19,818

Other taxation and social security
4,263
3,094

Other creditors
27,535
27,468

Accruals and deferred income
3,000
3,000

59,763
53,380



8.


Related party transactions

At 31 March 2023 a balance in the sum of £27,535 (2022: £27,468) was due to the directors. The loan is unsecured, interest free and repayable on demand. 

 
Page 7