Caseware UK (AP4) 2022.0.179 2022.0.179 2023-12-312023-12-31falsetruefalseOther information technology service activitie62023-01-019The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12680883 2023-01-01 2023-12-31 12680883 2021-07-01 2022-12-31 12680883 2023-12-31 12680883 2022-12-31 12680883 1 2023-01-01 2023-12-31 12680883 d:Director1 2023-01-01 2023-12-31 12680883 c:CurrentFinancialInstruments 2023-12-31 12680883 c:CurrentFinancialInstruments 2022-12-31 12680883 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 12680883 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 12680883 c:ShareCapital 2023-12-31 12680883 c:ShareCapital 2022-12-31 12680883 c:RetainedEarningsAccumulatedLosses 2023-12-31 12680883 c:RetainedEarningsAccumulatedLosses 2022-12-31 12680883 d:FRS102 2023-01-01 2023-12-31 12680883 d:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 12680883 d:FullAccounts 2023-01-01 2023-12-31 12680883 d:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12680883 c:WithinOneYear 2023-12-31 12680883 c:WithinOneYear 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 12680883









COLLABTECH UK LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
COLLABTECH UK LIMITED
REGISTERED NUMBER: 12680883

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
27,321
6,970

Cash at bank and in hand
  
15,792
17,754

  
43,113
24,724

Creditors: amounts falling due within one year
 5 
(2,111,573)
(1,411,404)

Net current liabilities
  
 
 
(2,068,460)
 
 
(1,386,680)

  

Net liabilities
  
(2,068,460)
(1,386,680)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(2,068,461)
(1,386,681)

  
(2,068,460)
(1,386,680)


Page 1

 
COLLABTECH UK LIMITED
REGISTERED NUMBER: 12680883
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers 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 director acknowledges his 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 by: 




S Leonard
Director

Date: 29 March 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
COLLABTECH UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Collabtech UK Limited is a private company, limited by shares, incorporated in England and Wales. The address of the registered office is Arena Offices Abbey House, 282 Farnborough Road, Farnborough, GU14 7NA and its company number is 12680883.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared 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.
The company made a loss of £681,780 for the year (2022 - £872,217) and the Statement of Financial Position shows net liabilities of £2,068,460 at year end (2022 - 1,386,680).
The parent company and fellow subsidiary companies have confirmed that they will continue to support the company for at least the next 12 months from the date of signing 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.

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

Page 3

 
COLLABTECH UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 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

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
COLLABTECH UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

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
Page 5

 
COLLABTECH UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.11
Financial instruments (continued)

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.


3.


Employees

The average monthly number of employees, during the year was 9 (2022 - 6).

Page 6

 
COLLABTECH UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Debtors

2023
2022
£
£


Trade debtors
16,532
-

Prepayments and accrued income
4,135
5,067

Other debtors
6,654
1,903

27,321
6,970



5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
1,353
1,721

Amounts owed to group undertakings
2,071,248
1,363,986

Other taxation and social security
16,496
31,992

VAT payable
768
5,288

Accruals and deferred income
21,708
8,417

2,111,573
1,411,404


Amounts owed to group undertakings of £2,071,248 (2022 - £1,363,986) are interest free and repayable on demand. 


6.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
19,800
15,000

19,800
15,000


7.


Deferred tax

At 31 December 2023, the company had an unprovided deferred tax asset of £517,113 (2022 - £346,670) available to offset against future tax charges.

Page 7

 
COLLABTECH UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Controlling party

The ultimate parent undertaking is Collabtech Global LLC, a company incorporated in the USA.

 
Page 8