Caseware UK (AP4) 2022.0.179 2022.0.179 2023-08-312023-08-31102022-09-01falseNo description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05541919 2022-09-01 2023-08-31 05541919 2021-09-01 2022-08-31 05541919 2023-08-31 05541919 2022-08-31 05541919 2021-09-01 05541919 1 2022-09-01 2023-08-31 05541919 1 2021-09-01 2022-08-31 05541919 d:Director2 2022-09-01 2023-08-31 05541919 e:FurnitureFittings 2022-09-01 2023-08-31 05541919 e:FurnitureFittings 2023-08-31 05541919 e:FurnitureFittings 2022-08-31 05541919 e:FurnitureFittings e:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 05541919 e:OfficeEquipment 2022-09-01 2023-08-31 05541919 e:OfficeEquipment 2023-08-31 05541919 e:OfficeEquipment 2022-08-31 05541919 e:OfficeEquipment e:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 05541919 e:ComputerEquipment 2022-09-01 2023-08-31 05541919 e:ComputerEquipment 2023-08-31 05541919 e:ComputerEquipment 2022-08-31 05541919 e:ComputerEquipment e:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 05541919 e:OtherPropertyPlantEquipment 2022-09-01 2023-08-31 05541919 e:OtherPropertyPlantEquipment 2023-08-31 05541919 e:OtherPropertyPlantEquipment 2022-08-31 05541919 e:OtherPropertyPlantEquipment e:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 05541919 e:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 05541919 e:CurrentFinancialInstruments 2023-08-31 05541919 e:CurrentFinancialInstruments 2022-08-31 05541919 e:CurrentFinancialInstruments 1 2023-08-31 05541919 e:CurrentFinancialInstruments 1 2022-08-31 05541919 e:CurrentFinancialInstruments 6 2023-08-31 05541919 e:CurrentFinancialInstruments 6 2022-08-31 05541919 e:CurrentFinancialInstruments e:WithinOneYear 2023-08-31 05541919 e:CurrentFinancialInstruments e:WithinOneYear 2022-08-31 05541919 e:ShareCapital 2023-08-31 05541919 e:ShareCapital 2022-08-31 05541919 e:ShareCapital 2021-09-01 05541919 e:CapitalRedemptionReserve 2023-08-31 05541919 e:CapitalRedemptionReserve 1 2022-09-01 2023-08-31 05541919 e:CapitalRedemptionReserve 2022-08-31 05541919 e:CapitalRedemptionReserve 2021-09-01 05541919 e:RevaluationReserve 1 2021-09-01 2022-08-31 05541919 e:OtherMiscellaneousReserve 2023-08-31 05541919 e:OtherMiscellaneousReserve 1 2022-09-01 2023-08-31 05541919 e:OtherMiscellaneousReserve 2022-08-31 05541919 e:OtherMiscellaneousReserve 2021-09-01 05541919 e:OtherMiscellaneousReserve 1 2021-09-01 2022-08-31 05541919 e:RetainedEarningsAccumulatedLosses 2022-09-01 2023-08-31 05541919 e:RetainedEarningsAccumulatedLosses 2023-08-31 05541919 e:RetainedEarningsAccumulatedLosses 1 2022-09-01 2023-08-31 05541919 e:RetainedEarningsAccumulatedLosses 2021-09-01 2022-08-31 05541919 e:RetainedEarningsAccumulatedLosses 2022-08-31 05541919 e:RetainedEarningsAccumulatedLosses 2021-09-01 05541919 e:RetainedEarningsAccumulatedLosses 1 2021-09-01 2022-08-31 05541919 d:FRS102 2022-09-01 2023-08-31 05541919 d:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 05541919 d:FullAccounts 2022-09-01 2023-08-31 05541919 d:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 05541919 e:AcceleratedTaxDepreciationDeferredTax 2023-08-31 05541919 e:AcceleratedTaxDepreciationDeferredTax 2022-08-31 05541919 2 2022-09-01 2023-08-31 05541919 9 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure

Registered number: 05541919









STRUCTUREIT LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2023

 
STRUCTUREIT LIMITED
REGISTERED NUMBER: 05541919

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
19,493
49,590

  
19,493
49,590

Current assets
  

Debtors: amounts falling due within one year
 5 
1,649,365
1,244,664

Current asset investments
 6 
450,008
450,008

Cash at bank and in hand
 7 
2,317,962
1,941,043

  
4,417,335
3,635,715

Creditors: amounts falling due within one year
 8 
(1,476,204)
(1,350,489)

Net current assets
  
2,941,131
2,285,226

Total assets less current liabilities
  
2,960,624
2,334,816

Provisions for liabilities
  

Deferred tax
 9 
-
(3,533)

Net assets
  
2,960,624
2,331,283


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Capital redemption reserve
  
100
100

Equity hedge reserve
  
(45,933)
(11,053)

Profit and loss account
  
3,005,457
2,341,236

  
2,960,624
2,331,283


Page 1

 
STRUCTUREIT LIMITED
REGISTERED NUMBER: 05541919
    
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 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 8 January 2024.




................................................
Llewellyn Watson
Director

Page 2

 
STRUCTUREIT LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2023


Called up share capital
Capital redemption reserve
Equity hedge reserve
Profit and loss account
Total equity

£
£
£
£
£


At 1 September 2021
1,000
100
(32,657)
1,863,687
1,832,130



Profit for the year
-
-
-
1,577,549
1,577,549

Hedge movement
-
-
21,604
-
21,604

Dividends: Equity capital
-
-
-
(1,100,000)
(1,100,000)



At 1 September 2022
1,000
100
(11,053)
2,341,236
2,331,283



Profit for the year
-
-
-
1,865,221
1,865,221

Hedge movement
-
-
(34,880)
-
(34,880)

Dividends: Equity capital
-
-
-
(1,201,000)
(1,201,000)


At 31 August 2023
1,000
100
(45,933)
3,005,457
2,960,624


The notes on pages 4 to 11 form part of these financial statements.

Page 3

 
STRUCTUREIT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

StructureIt Limited is a private company limited by share capital, incorporated in England and Wales, registration number 05541919. The address of the registered office is Wisteria Grange Barn, Pikes End, Pinner, Middlesex, England, HA5 2EX.

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 a going concern basis as the director believes adequate resources exist to enable it to meet its working capital requirements for at least twelve months from approval of these financial statements.

 
2.3

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.

Page 4

 
STRUCTUREIT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.4

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.

 
2.5

Interest income

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

 
2.6

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.

 
2.7

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.

Page 5

 
STRUCTUREIT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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
-
25%
Office equipment
-
25%
Computer equipment
-
25%
Other fixed assets
-
100%

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.

Page 6

 
STRUCTUREIT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
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

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.

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 Statement of Comprehensive Income.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet 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.

 
2.13

Hedge accounting

The Company uses foreign currency forward contracts to manage its exposure to fair value risk on its foreign exchange transactions. These derivatives are measured at fair value at each balance sheet date.

To the extent the cash flow hedge is effective, movements in fair value are recognised in other comprehensive income and presented in a separate cash flow hedge reserve. Any ineffective portions of those movements are recognised in profit or loss for the year.

Gains and losses on the hedging instruments and the hedged items are recognised in profit or loss for the year. When a hedged item is an unrecognised firm commitment, the cumulative hedging gain or loss on the hedged item is recognised as an asset or liability with a corresponding gain or loss recognised in profit or loss.

As permitted by FRS 102, the Company has applied the hedge accounting requirements in IAS 39 to its fair value hedge of interest rate exposure of a portfolio of financial assets. In this case, the Company has also designated as the hedged item a portion that is a currency amount rather than the individual assets. Gains or losses on the hedged item attributable to the hedged risk have been recognised in a separate line item within assetsAmounts included as separate line items are removed from the Balance Sheet when the assets to which they relate are derecognised.

Page 7

 
STRUCTUREIT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 11 (2022 - 10).


4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Computer equipment
Other fixed assets
Total

£
£
£
£
£



Cost or valuation


At 1 September 2022
77,285
3,048
65,632
1,090
147,055


Additions
-
-
14,211
839
15,050


Disposals
(76,671)
(998)
-
(154)
(77,823)



At 31 August 2023

614
2,050
79,843
1,775
84,282



Depreciation


At 1 September 2022
42,739
1,964
51,672
1,090
97,465


Charge for the year on owned assets
12,881
610
9,155
839
23,485


Disposals
(55,176)
(831)
-
(154)
(56,161)



At 31 August 2023

444
1,743
60,827
1,775
64,789



Net book value



At 31 August 2023
170
307
19,016
-
19,493



At 31 August 2022
34,546
1,084
13,960
-
49,590

Page 8

 
STRUCTUREIT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

5.


Debtors

2023
2022
£
£


Trade debtors
1,234,666
955,831

Amounts owed by group undertakings
334,631
188,804

Other debtors
11,703
9,948

Prepayments and accrued income
65,256
84,590

Deferred taxation
3,109
-

Financial instruments
-
5,491

1,649,365
1,244,664


Amounts owed by group undertakings are unsecured, interest-free and have no fixed date of repayment and are repayable on demand.


6.


Current asset investments

2023
2022
£
£

Unlisted investments
450,008
450,008

450,008
450,008



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
2,317,962
1,941,043

2,317,962
1,941,043


Page 9

 
STRUCTUREIT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
113,757
183,913

Amounts owed to group undertakings
13,889
-

Corporation tax
247,896
180,036

Other taxation and social security
126,135
79,835

Other creditors
7,762
7,762

Accruals and deferred income
920,831
775,324

Foreign exchange contracts
45,934
123,619

1,476,204
1,350,489


Forward exchange contract liability of £45,934 (2022: £123,619) relates to the mark to market valuation of forward exchange contracts purchased as a hedge against future rand cash flow exposure. Revaluations are deferred to the equity hedge reserve until the contracts have matured and realized.


9.


Deferred taxation




2023
2022


£

£






At beginning of year
(3,533)
(5,482)


Charged to the profit or loss
6,642
1,949



At end of year
3,109
(3,533)

The deferred taxation balance is made up as follows:

2023
2022
£
£


Accelerated capital allowances
3,109
(3,533)

3,109
(3,533)


10.


Pension commitments

StructureIt Limited operates a defined contributions pension scheme. The assets of the scheme are held separately 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 £14,592 (2022 - £10,082). Contributions totalling £nil were payable to the fund at the balance sheet date (2022 - £nil).

Page 10

 
STRUCTUREIT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

11.


Related party transactions

Included in debtors at the balance sheet date are amounts due from Dealview Technologies Limited of  £368,153 (2022: £125,843). During the year a total of £75,907 (2022: £2,343,798) was charged to Dealview Technologies Limited in relation to services provided. Included in creditors at the balance sheet date are amounts due to Dealview Technologies Limited of  £21,807 (2022: £Nil). During the year a total of £140,606 (2022: £Nil) was charged from Dealview Technologies Limited in relation to services provided. The directors of StructureIT Limited are also directors of Dealview Technologies Limited. 
Included in debtors at the balance sheet date are amounts due from StructureIT International Limited of 
£Nil (2022: £Nil). During the year a total of £236,400 (2022: £253,000) was charged to StructureIT International Limited in relation to services provided. Included in creditors at the balance sheet date are amounts due to StructureIT International Limited of £10,000 (2022: £Nil). During the year a total of £40,600 (2022: £Nil) was charged from StructureIT International Limited in relation to services provided. The directors of StructureIT Limited are also directors of StructureIT International Limited. 
Included in creditors at the balance sheet date are amounts due to StructuredIt Ltd of £300 (2022: £Nil). During the year a total of £81,600 (2022: £Nil) was charged from StructuredIt Ltd in relation to services provided. Matthew Tomkinson is a common shareholder of both StructureIT Limited and StructuredIt Ltd. 
Included in creditors at the balance sheet date are amounts due to StructureIt Inc of £4,975 (2022:£Nil). During the year a total of £253,260 (2022: £Nil) was charged from StructureIt Inc in relation to services provided. The directors of StructureIT Limited are also directors of StructureIt Inc. 
Included in creditors at the balance sheet date are amounts due to Appsure (Pty) Ltd of £5,488  (2022:£Nil). During the year a total of  £2,639,933 (2022: £Nil) was charged from Appsure (Pty) Ltd in relation to services provided. The directors of StructureIT Limited are also directors of Appsure (Pty) Ltd. 
Included in debtors at the balance sheet date are amounts due from StructureIT Investments Limited of £210 (2022: £Nil). During the year a total of £Nil (2022: £Nil) was charged to StructureIT Investments Limited in relation to services provided. The directors of StructureIT Limited are also directors of StructureIT Investments Limited. 
Included in creditors at the balance sheet date are amounts due to StructureIT Holdings Limited of £13,889 (2022: £Nil). During the year a total of £Nil (2022: £Nil) was charged to StructureIT Holdings Limited in relation to services provided. The directors of StructureIT Limited are also directors of StructureIT Holdings Limited. 

 
Page 11