Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-312022-01-01falseThe principal activity of the company during the year continued to be that of business and management consultancy33truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 05539106 2022-01-01 2022-12-31 05539106 2021-01-01 2021-12-31 05539106 2022-12-31 05539106 2021-12-31 05539106 c:Director1 2022-01-01 2022-12-31 05539106 c:Director2 2022-01-01 2022-12-31 05539106 d:FurnitureFittings 2022-01-01 2022-12-31 05539106 d:FurnitureFittings 2022-12-31 05539106 d:FurnitureFittings 2021-12-31 05539106 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 05539106 d:CurrentFinancialInstruments 2022-12-31 05539106 d:CurrentFinancialInstruments 2021-12-31 05539106 d:Non-currentFinancialInstruments 2022-12-31 05539106 d:Non-currentFinancialInstruments 2021-12-31 05539106 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 05539106 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 05539106 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 05539106 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 05539106 d:ShareCapital 2022-12-31 05539106 d:ShareCapital 2021-12-31 05539106 d:RetainedEarningsAccumulatedLosses 2022-12-31 05539106 d:RetainedEarningsAccumulatedLosses 2021-12-31 05539106 c:OrdinaryShareClass1 2022-01-01 2022-12-31 05539106 c:OrdinaryShareClass1 2022-12-31 05539106 c:FRS102 2022-01-01 2022-12-31 05539106 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 05539106 c:FullAccounts 2022-01-01 2022-12-31 05539106 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 05539106 d:Subsidiary1 2022-01-01 2022-12-31 05539106 d:Subsidiary1 1 2022-01-01 2022-12-31 05539106 6 2022-01-01 2022-12-31 05539106 e:PoundSterling 2022-01-01 2022-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 05539106









ACOSPHERE LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
ACOSPHERE LIMITED
REGISTERED NUMBER: 05539106

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,891
4,333

Investments
 5 
1,275
1,275

  
4,166
5,608

Current assets
  

Debtors: amounts falling due within one year
 6 
16,232
81

Cash at bank and in hand
  
203
14,355

  
16,435
14,436

Creditors: amounts falling due within one year
 7 
(488,534)
(506,331)

Net current liabilities
  
 
 
(472,099)
 
 
(491,895)

Total assets less current liabilities
  
(467,933)
(486,287)

Creditors: amounts falling due after more than one year
 8 
(24,587)
(34,592)

Net liabilities
  
(492,520)
(520,879)


Capital and reserves
  

Called up share capital 
 9 
2
2

Profit and loss account
  
(492,522)
(520,881)

  
(492,520)
(520,879)


Page 1

 
ACOSPHERE LIMITED
REGISTERED NUMBER: 05539106

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022

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 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 on 13 March 2024.




G M A Acogny
N Acogny
Director
Director

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

Page 2

 
ACOSPHERE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

Acosphere Limited is a private company, limited by shares, and incorporated in England and Wales. The address of its registered office is 3rd Floor, 24 Old Bond Street, London, W1S 4AP and the registered number is 05539106. The company is part of a group.

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 judgment in applying the company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operation for the foreseeable future. The directors, who are the largest creditors at the balance sheet date, have confirmed that for the foreseeable future, being a period of at least twelve months from the date of approval of these financial statements, they will continue to maintain their financial support of the company by deferment of the amounts due to the directors or by other means.
In view of the above confirmation, the directors are confident that the company will have sufficient resources to enable it to continue in operation for the foreseeable future, and that it is therefore appropriate to prepare the financial statements on a going concern basis.

 
2.3

Exemption from preparing consolidated financial statements

The company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated financial statements.

These financial statements therefore represent information about the company as an individual undertaking and not about its group.

Page 3

 
ACOSPHERE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.4

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding value added tax. 

Rendering of services

Turnover 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 turnover 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

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% 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 the Statement of Income and Retained Earnings.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.7

Debtors

Short term debtors are measured at transaction price, less any impairment. 

 
2.8

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102.

Financial instruments are recognised in the company's Balance Sheet when the company becomes party to the contractual provisions of the instrument.

Page 4

 
ACOSPHERE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)


2.8
Financial instruments (continued)

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

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



Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

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.

Page 5

 
ACOSPHERE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)


2.8
Financial instruments (continued)

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

 
2.9

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.

 
2.10

Government grants

Grants are accounted under the accruals model as permitted by FRS 102.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

 
2.11

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is pound sterling (£).

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 6

 
ACOSPHERE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.12

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 the statement of income and retained earnings 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.

 
2.13

Taxation

Tax is recognised in the Statement of Income and Retained Earnings 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 corporation 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 is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2021 - 3).

Page 7

 
ACOSPHERE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

4.


Tangible fixed assets





Other fixed assets

£



Cost 


At 1 January 2022
10,528



At 31 December 2022

10,528



Depreciation


At 1 January 2022
6,194


Charge for the year on owned assets
1,443



At 31 December 2022

7,637



Net book value



At 31 December 2022
2,891



At 31 December 2021
4,333

Page 8

 
ACOSPHERE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost 


At 1 January 2022
1,275



At 31 December 2022
1,275





Subsidiary undertaking


The following was a subsidiary undertaking of the company:

Name

Registered office

Principal activity

Class of shares

Holding

Acosphere Africa Sarl Senegal
Senegal
Business and management consultancy
Ordinary
100%


6.


Debtors

2022
2021
£
£


Trade debtors
14,733
-

Amounts owed by group undertakings
826
-

Other debtors
673
81

16,232
81



7.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank loan
10,004
9,792

Trade creditors
33,898
35,134

Other taxation and social security
3,046
2,169

Other creditors
436,518
454,336

Accruals
5,068
4,900

488,534
506,331


Page 9

 
ACOSPHERE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

8.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Bank loan
24,587
34,592


The bank loan of £34,591 (2021 - £44,384) is supported by a guarantee from the UK Government to the bank under the Bounce Back Loan Scheme.


9.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



2 Ordinary shares of £1 each
2
2



10.


Pension commitments

The company 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 £330 (2021 - £330). Contributions totalling £227 (2021 - £57) were payable to the fund at the balance sheet date.


11.


Related party transactions

The company has taken advantage of the exemption afforded by FRS 102 not to disclose transactions or balances with other wholly owned members of the group.
At the balance sheet date the amount due to the directors was £436,191 (2021 - £454,280). These loans are interest free and repayable on demand.


Page 10