Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseNo description of principal activity1616falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12177289 2023-01-01 2023-12-31 12177289 2022-01-01 2022-12-31 12177289 2023-12-31 12177289 2022-12-31 12177289 2022-01-01 12177289 1 2022-01-01 2022-12-31 12177289 2 2023-01-01 2023-12-31 12177289 2 2022-01-01 2022-12-31 12177289 d:Director1 2023-01-01 2023-12-31 12177289 e:ComputerEquipment 2023-01-01 2023-12-31 12177289 e:ComputerEquipment 2023-12-31 12177289 e:ComputerEquipment 2022-12-31 12177289 e:CurrentFinancialInstruments 2023-12-31 12177289 e:CurrentFinancialInstruments 2022-12-31 12177289 e:Non-currentFinancialInstruments 2023-12-31 12177289 e:Non-currentFinancialInstruments 2022-12-31 12177289 e:CurrentFinancialInstruments e:WithinOneYear 2023-12-31 12177289 e:CurrentFinancialInstruments e:WithinOneYear 2022-12-31 12177289 e:Non-currentFinancialInstruments e:AfterOneYear 2023-12-31 12177289 e:Non-currentFinancialInstruments e:AfterOneYear 2022-12-31 12177289 e:ShareCapital 2023-01-01 2023-12-31 12177289 e:ShareCapital 2023-12-31 12177289 e:ShareCapital 2022-12-31 12177289 e:ShareCapital 2022-01-01 12177289 e:SharePremium 2023-01-01 2023-12-31 12177289 e:SharePremium 2023-12-31 12177289 e:SharePremium 2 2023-01-01 2023-12-31 12177289 e:SharePremium 2022-12-31 12177289 e:SharePremium 2022-01-01 12177289 e:SharePremium 1 2022-01-01 2022-12-31 12177289 e:SharePremium 2 2022-01-01 2022-12-31 12177289 e:OtherMiscellaneousReserve 2023-01-01 2023-12-31 12177289 e:OtherMiscellaneousReserve 2023-12-31 12177289 e:OtherMiscellaneousReserve 2 2023-01-01 2023-12-31 12177289 e:OtherMiscellaneousReserve 2022-12-31 12177289 e:OtherMiscellaneousReserve 2022-01-01 12177289 e:OtherMiscellaneousReserve 1 2022-01-01 2022-12-31 12177289 e:OtherMiscellaneousReserve 2 2022-01-01 2022-12-31 12177289 e:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 12177289 e:RetainedEarningsAccumulatedLosses 2023-12-31 12177289 e:RetainedEarningsAccumulatedLosses 2 2023-01-01 2023-12-31 12177289 e:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 12177289 e:RetainedEarningsAccumulatedLosses 2022-12-31 12177289 e:RetainedEarningsAccumulatedLosses 2022-01-01 12177289 e:RetainedEarningsAccumulatedLosses 1 2022-01-01 2022-12-31 12177289 e:RetainedEarningsAccumulatedLosses 2 2022-01-01 2022-12-31 12177289 d:OrdinaryShareClass1 2023-01-01 2023-12-31 12177289 d:OrdinaryShareClass1 2023-12-31 12177289 d:OrdinaryShareClass1 2022-12-31 12177289 d:FRS102 2023-01-01 2023-12-31 12177289 d:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 12177289 d:FullAccounts 2023-01-01 2023-12-31 12177289 d:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12177289 f:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 12177289










ENGINE B LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
ENGINE B LIMITED
REGISTERED NUMBER: 12177289

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Tangible assets
 4 
-
-

  
-
-

Current assets
  

Debtors: amounts falling due within one year
 5 
1,396,005
1,109,740

Cash at bank and in hand
 6 
505,488
654,559

  
1,901,493
1,764,299

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(1,288,945)
(1,031,543)

Net current assets
  
 
 
612,548
 
 
732,756

Total assets less current liabilities
  
612,548
732,756

Creditors: amounts falling due after more than one year
 8 
(34,513)
(40,198)

  

Net assets
  
578,035
692,558


Capital and reserves
  

Called up share capital 
 9 
148
139

Share premium account
 10 
3,133,194
2,231,880

Other reserves
 10 
761,563
751,101

Profit and loss account
 10 
(3,316,870)
(2,290,562)

  
578,035
692,558


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.

Page 1

 
ENGINE B LIMITED
REGISTERED NUMBER: 12177289

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


D Burrows
Director
Date: 3 April 2024

The notes on pages 4 to 9 form part of these financial statements.

Page 2

 
ENGINE B LIMITED
 

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


Called up share capital
Share premium account
Other equity reserve
Profit and loss account
Total equity

£
£
£
£
£


At 1 January 2022
139
2,231,880
-
(928,272)
1,303,747



Loss for the year
-
-
-
(1,362,290)
(1,362,290)

Issue of warrants
-
-
740,639
-
740,639

Share-based payment charge
-
-
10,462
-
10,462



At 1 January 2023
139
2,231,880
751,101
(2,290,562)
692,558



Loss for the year
-
-
-
(1,026,308)
(1,026,308)

Share-based payment charge
-
-
10,462
-
10,462

Shares issued during the year
9
901,314
-
-
901,323


At 31 December 2023
148
3,133,194
761,563
(3,316,870)
578,035


Page 3

 
ENGINE B LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Engine B Limited is a limited liability company incorporated in England and Wales. The address of its registered office and principal place of business 60 Thornhill Square, London, England, N1 1BE.

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

Revenue

Revenue is the fair value of the consideration received or receivable (excluding discounts and sales taxes) for services provided during the period.  Licence revenue is recognised over the period to which the licence relates, and other services are recognised at the point in time that the delivery obligations are met.

 
2.3

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.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

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 4

 
ENGINE B LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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.

 
2.8

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.

Page 5

 
ENGINE B LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

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:

Computer equipment
-
50%

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.

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

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.

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

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
Page 6

 
ENGINE B LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.12
Financial instruments (continued)

financial instruments.


3.


Employees

The average monthly number of employees, including directors and excluding contractors, during the year was 16 (2022 - 16).


4.


Tangible fixed assets





Fixtures, fittings and equipment

£



Cost or valuation


At 1 January 2023
4,485



At 31 December 2023

4,485



Depreciation


At 1 January 2023
4,485



At 31 December 2023

4,485



Net book value



At 31 December 2023
-



At 31 December 2022
-

Page 7

 
ENGINE B LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
1,207,008
799,804

Other debtors
100
100

Prepayments and accrued income
9,670
11,413

Tax recoverable
148,887
268,083

Deferred taxation
30,340
30,340

1,396,005
1,109,740



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
505,488
654,559



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
5,685
5,548

Trade creditors
19,464
50,663

Other taxation and social security
34,263
140,212

Other creditors
2,208
2,641

Accruals and deferred income
1,227,325
832,479

1,288,945
1,031,543



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
34,513
40,198

34,513
40,198


Page 8

 
ENGINE B LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



14,829,627 (2022 - 13,928,304) Ordinary share shares of £0.00001 each
148.30
139.28


During the year, 901,323 Ordinary shares of £0.00001 each were issued for a total consideration of £901,323.


10.


Reserves

Share premium account

Share premium account includes any premiums received on issue of share capital. Any transaction costs associated with the issuing of shares are deducted from share premium.

Other equity reserves

Other equity reserves comprise the issue of warrants and share-based payment charges.

Profit and loss account

Profit and loss account includes all current and prior period retained profits and losses.


11.


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 £3,349 (2022 - £3,526). Contributions totalling £2,205 (2022 - £2,641) were payable to the fund at the balance sheet date and are included in creditors.


Page 9