Caseware UK (AP4) 2023.0.135 2023.0.135 No description of principal activity2022-04-01false12395falsetruefalse NI620807 2022-04-01 2023-03-31 NI620807 2021-01-01 2022-03-31 NI620807 2023-03-31 NI620807 2022-03-31 NI620807 c:Director3 2022-04-01 2023-03-31 NI620807 d:Buildings d:LongLeaseholdAssets 2022-04-01 2023-03-31 NI620807 d:Buildings d:LongLeaseholdAssets 2023-03-31 NI620807 d:Buildings d:LongLeaseholdAssets 2022-03-31 NI620807 d:FurnitureFittings 2022-04-01 2023-03-31 NI620807 d:FurnitureFittings 2023-03-31 NI620807 d:FurnitureFittings 2022-03-31 NI620807 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 NI620807 d:ComputerEquipment 2022-04-01 2023-03-31 NI620807 d:ComputerEquipment 2023-03-31 NI620807 d:ComputerEquipment 2022-03-31 NI620807 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 NI620807 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 NI620807 d:CurrentFinancialInstruments 2023-03-31 NI620807 d:CurrentFinancialInstruments 2022-03-31 NI620807 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 NI620807 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 NI620807 d:ShareCapital 2023-03-31 NI620807 d:ShareCapital 2022-03-31 NI620807 d:RetainedEarningsAccumulatedLosses 2023-03-31 NI620807 d:RetainedEarningsAccumulatedLosses 2022-03-31 NI620807 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 NI620807 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 NI620807 c:OrdinaryShareClass1 2022-04-01 2023-03-31 NI620807 c:OrdinaryShareClass1 2023-03-31 NI620807 c:OrdinaryShareClass1 2022-03-31 NI620807 c:FRS102 2022-04-01 2023-03-31 NI620807 c:Audited 2022-04-01 2023-03-31 NI620807 c:FullAccounts 2022-04-01 2023-03-31 NI620807 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 NI620807 c:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 NI620807 e:PoundSterling 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: NI620807










Shopkeep.com Ltd










Financial statements

Information for filing with the registrar

For the Period Ended 31 March 2023

 
Shopkeep.com Ltd
Registered number: NI620807

Balance Sheet
As at 31 March 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
107,855
150,111

  
107,855
150,111

Current assets
  

Debtors: amounts falling due within one year
 5 
9,488,020
4,379,942

Cash at bank and in hand
 6 
495,563
143,331

  
9,983,583
4,523,273

Creditors: amounts falling due within one year
 7 
(7,454,288)
(2,199,817)

Net current assets
  
 
 
2,529,295
 
 
2,323,456

Total assets less current liabilities
  
2,637,150
2,473,567

Provisions for liabilities
  

Deferred tax
 8 
(19,600)
(27,613)

  
 
 
(19,600)
 
 
(27,613)

Net assets
  
2,617,550
2,445,954


Capital and reserves
  

Called up share capital 
 9 
1
1

Profit and loss account
  
2,617,549
2,445,953

  
2,617,550
2,445,954


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Shopkeep.com Ltd
Registered number: NI620807

Balance Sheet (continued)
As at 31 March 2023

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 28 March 2024.




Dax Dasilva
Director

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

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Shopkeep.com Ltd
 

 
Notes to the Financial Statements
For the Period Ended 31 March 2023

1.


General information

Shopkeep.com Ltd is a private company limited by shares incorporated in Northern Ireland. The registration number and address of the registered office are given in the company information section of these financial statements.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Directors of Shopkeep.com Ltd have reviewed the resources available and after considering the support available from the parent company believe that the company has adequate resources to continue in existence for the foreseeable future.
Accordingly, Shopkeep.com Ltd continues to adopt the going concern basis in preparing the 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.

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 Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

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Shopkeep.com Ltd
 

 
Notes to the Financial Statements
For the Period Ended 31 March 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

Share-based payments

Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each balance sheet date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition.
The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the Company keeping the scheme open or the employee maintaining any contributions required by the scheme).
Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period.
Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.

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Shopkeep.com Ltd
 

 
Notes to the Financial Statements
For the Period Ended 31 March 2023

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the period 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.

 
2.7

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:

Leasehold improvements
-
10 - 15% Straight Line
Fixtures and fittings
-
20% Straight Line
Computer equipment
-
33.33% 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.

 
2.8

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.

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Shopkeep.com Ltd
 

 
Notes to the Financial Statements
For the Period Ended 31 March 2023

2.Accounting policies (continued)

 
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

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 period was 123 (2022 - 95).

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Shopkeep.com Ltd
 

 
Notes to the Financial Statements
For the Period Ended 31 March 2023

4.


Tangible fixed assets





Leasehold Improvements
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2022
166,623
99,382
251,660
517,665


Additions
10,683
2,060
-
12,743


Disposals
-
-
(13,990)
(13,990)



At 31 March 2023

177,306
101,442
237,670
516,418



Depreciation


At 1 April 2022
72,753
72,522
222,280
367,555


Charge for the period on owned assets
18,383
7,235
22,676
48,294


Disposals
-
-
(7,286)
(7,286)



At 31 March 2023

91,136
79,757
237,670
408,563



Net book value



At 31 March 2023
86,170
21,685
-
107,855



At 31 March 2022
93,871
26,860
29,380
150,111

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Shopkeep.com Ltd
 

 
Notes to the Financial Statements
For the Period Ended 31 March 2023

5.


Debtors

2023
2022
£
£


Trade debtors
8,479
3,479

Amounts owed by group undertakings
9,327,190
4,273,783

Other debtors
123,363
82,703

Prepayments and accrued income
28,988
19,977

9,488,020
4,379,942



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
495,563
143,331

495,563
143,331



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
13,265
42,856

Amounts owed to group undertakings
6,596,500
1,765,587

Corporation tax
643,110
230,858

Other taxation and social security
39,473
63,700

Other creditors
441
251

Accruals and deferred income
161,499
96,565

7,454,288
2,199,817


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Page 8

 
Shopkeep.com Ltd
 

 
Notes to the Financial Statements
For the Period Ended 31 March 2023

8.


Deferred taxation




2023


£






At beginning of year
(27,613)


Charged to profit or loss
8,013



At end of year
(19,600)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(19,600)
(27,613)

(19,600)
(27,613)


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary share of £1.00
1
1



10.


Share-based payments

The Company has a share option plan which is open to all employees of the Company at the discretion of the Board. Options are exercisable at a price no less than the market price (as contemplated under the plan) of the Company's shares on the date of the grant.
Should the options remain unexercised they lapse after  years from the date of the grant. The options also lapse following the employee leaving the group and various other conditions set out in the plan rules. The company has claimed exemptions from disclosing the details around the options in place in full on the basis the disclosures are included in the immediate parent company’s financial statements.
The charge recognised in the profit and loss account is allocated on the basis of the share based payments charge for each individual employee of the UK entity to whom share options have been granted.
 


11.


Related party transactions

During the period, Shopkeep.com Ltd sold services to the value of £9,611,906 (2022: £7,853,446) to Lightspeed Commerce Inc

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Shopkeep.com Ltd
 

 
Notes to the Financial Statements
For the Period Ended 31 March 2023

12.


Ultimate parent undertakings and controlling party

This company is wholly owned by Lightspeed Commerce Inc.


13.


Auditors' information

The auditors' report on the financial statements for the period ended 31 March 2023 was unqualified.

The audit report was signed on 28 March 2024 by Michael Nixon (Senior Statutory Auditor) on behalf of ASM (B) Ltd.


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