Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-312022-01-011truefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activityfalse1 09278393 2022-01-01 2022-12-31 09278393 2021-01-01 2021-12-31 09278393 2022-12-31 09278393 2021-12-31 09278393 c:Director1 2022-01-01 2022-12-31 09278393 d:CurrentFinancialInstruments 2022-12-31 09278393 d:CurrentFinancialInstruments 2021-12-31 09278393 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 09278393 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 09278393 d:ShareCapital 2022-12-31 09278393 d:ShareCapital 2021-12-31 09278393 d:RetainedEarningsAccumulatedLosses 2022-12-31 09278393 d:RetainedEarningsAccumulatedLosses 2021-12-31 09278393 c:FRS102 2022-01-01 2022-12-31 09278393 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 09278393 c:FullAccounts 2022-01-01 2022-12-31 09278393 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 09278393 e:PoundSterling 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 09278393









THEOREM TECHNOLOGY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

 
THEOREM TECHNOLOGY LIMITED
REGISTERED NUMBER: 09278393

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Current assets
  

Debtors: amounts falling due within one year
 4 
214,241
214,241

Cash at bank and in hand
 5 
1
1

Creditors: amounts falling due within one year
 6 
(509,140)
(507,016)

Net current liabilities
  
 
 
(294,898)
 
 
(292,774)

Net liabilities
  
(294,898)
(292,774)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(294,899)
(292,775)

  
(294,898)
(292,774)


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 15 March 2024.




Sanjay Shah
Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
THEOREM TECHNOLOGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

Theorem Technology Limited ("the Company") is a Company limited by shares, incorporated in England and Wales. Its registered office is C/O Meaby & Co Solicitors LLP, 25 Upper Brook Street, London, England, W1K 7QD.

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

As part of the going concern review, the directors have followed the guidelines published by the Financial Reporting Council entitled "Going Concern and Liquidity Risk Guidance for UK Companies 2009". The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. On this basis, the directors consider that the going concern basis of accounting remains appropriate.

 
2.3

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.

 
2.4

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.

 
2.5

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.

Page 2

 
THEOREM TECHNOLOGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.6

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 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.


Employees

The average monthly number of employees, including directors, during the year was 1 (2021 - 1).

Page 3

 
THEOREM TECHNOLOGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

4.


Debtors

2022
2021
£
£

Other debtors
180,019
180,019

Prepayments and accrued income
34,222
34,222

214,241
214,241



5.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
1
1



6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
1,800
5,640

Amounts owed to connected companies
503,416
499,576

Accruals and deferred income
3,924
1,800

509,140
507,016



7.


Related party transactions

At the year end, the Company owed £503,416 (2021 - £499,576) to the parent company.


8.


Controlling party

In the opinion of the directors, the Company's ultimate parent company is Elysium Global Limited, a company incorporated in British Virgin Islands.

 
Page 4