Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-05-072023-08-312022-09-01falseNo description of principal activity2120truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09592407 2022-09-01 2023-08-31 09592407 2021-09-01 2022-08-31 09592407 2023-08-31 09592407 2022-08-31 09592407 2021-09-01 09592407 c:Director1 2022-09-01 2023-08-31 09592407 c:Director2 2022-09-01 2023-08-31 09592407 c:Director2 2023-08-31 09592407 c:RegisteredOffice 2022-09-01 2023-08-31 09592407 d:PlantMachinery 2022-09-01 2023-08-31 09592407 d:PlantMachinery 2023-08-31 09592407 d:PlantMachinery 2022-08-31 09592407 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 09592407 d:OfficeEquipment 2022-09-01 2023-08-31 09592407 d:OfficeEquipment 2023-08-31 09592407 d:OfficeEquipment 2022-08-31 09592407 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 09592407 d:ComputerEquipment 2022-09-01 2023-08-31 09592407 d:ComputerEquipment 2023-08-31 09592407 d:ComputerEquipment 2022-08-31 09592407 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 09592407 d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 09592407 d:CurrentFinancialInstruments 2023-08-31 09592407 d:CurrentFinancialInstruments 2022-08-31 09592407 d:Non-currentFinancialInstruments 2023-08-31 09592407 d:Non-currentFinancialInstruments 2022-08-31 09592407 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 09592407 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 09592407 d:ShareCapital 2023-08-31 09592407 d:ShareCapital 2022-08-31 09592407 d:OtherMiscellaneousReserve 2023-08-31 09592407 d:OtherMiscellaneousReserve 2022-08-31 09592407 d:RetainedEarningsAccumulatedLosses 2023-08-31 09592407 d:RetainedEarningsAccumulatedLosses 2022-08-31 09592407 c:OrdinaryShareClass1 2022-09-01 2023-08-31 09592407 c:OrdinaryShareClass1 2023-08-31 09592407 c:OrdinaryShareClass1 2022-08-31 09592407 c:FRS102 2022-09-01 2023-08-31 09592407 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 09592407 c:FullAccounts 2022-09-01 2023-08-31 09592407 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 09592407 2 2022-09-01 2023-08-31 09592407 d:AcceleratedTaxDepreciationDeferredTax 2023-08-31 09592407 d:AcceleratedTaxDepreciationDeferredTax 2022-08-31 09592407 d:TaxLossesCarry-forwardsDeferredTax 2023-08-31 09592407 d:TaxLossesCarry-forwardsDeferredTax 2022-08-31 09592407 d:RetirementBenefitObligationsDeferredTax 2023-08-31 09592407 d:RetirementBenefitObligationsDeferredTax 2022-08-31 09592407 e:PoundSterling 2022-09-01 2023-08-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09592407









RESPONSIV SOLUTIONS LTD.







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2023

 
RESPONSIV SOLUTIONS LTD.
 
 
COMPANY INFORMATION


Directors
J. R. Whyte 
J. H. Cressey (resigned 7 May 2023)




Registered number
09592407



Registered office
38 College Road

Maidenhead

Berkshire

SL6 6AT




Accountants
Donald Reid Limited
Chartered Accountants

Prince Albert House

20 King Street

Maidenhead

Berkshire

SL6 1EF





 
RESPONSIV SOLUTIONS LTD.
 

CONTENTS



Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 14


 
RESPONSIV SOLUTIONS LTD.
REGISTERED NUMBER: 09592407

BALANCE SHEET
AS AT 31 AUGUST 2023

As restated
2023
2022
£
£

Fixed assets
  

Tangible assets
 4 
12,735
18,370

  
12,735
18,370

Current assets
  

Debtors: amounts falling due after more than one year
 5 
12,250
12,250

Debtors: amounts falling due within one year
 5 
670,837
391,180

Cash at bank and in hand
 6 
2,974,033
3,145,089

  
3,657,120
3,548,519

Creditors: amounts falling due within one year
 7 
(1,335,721)
(1,193,240)

Net current assets
  
 
 
2,321,399
 
 
2,355,279

Total assets less current liabilities
  
2,334,134
2,373,649

Provisions for liabilities
  

Deferred tax
 8 
-
(2,955)

  
 
 
-
 
 
(2,955)

Net assets
  
2,334,134
2,370,694


Capital and reserves
  

Called up share capital 
 9 
13,971
13,971

Other reserves
  
(81,403)
(81,403)

Profit and loss account
  
2,401,566
2,438,126

  
2,334,134
2,370,694


Page 1

 
RESPONSIV SOLUTIONS LTD.
REGISTERED NUMBER: 09592407
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 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 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 5 April 2024.




J. R. Whyte
Director

The notes on pages 3 to 14 form part of these financial statements.

Page 2

 
RESPONSIV SOLUTIONS LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

Responsiv Solutions Ltd is a private company limited by shares. The company was incorporated in the United Kingdom and is registered in England and Wales. The registration number is 09592407. The registered office is 38 College Road, Maidenhead, Berkshire, United Kingdom, SL6 6AT.

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

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'.

Page 3

 
RESPONSIV SOLUTIONS LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.3

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

 
2.4

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.

Page 4

 
RESPONSIV SOLUTIONS LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.5

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.6

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.8

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.

 
2.9

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 5

 
RESPONSIV SOLUTIONS LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.10

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.

Page 6

 
RESPONSIV SOLUTIONS LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.11

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.

Page 7

 
RESPONSIV SOLUTIONS LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.12

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:

Plant and machinery
-
25% straight line
Office equipment
-
25% straight line
Computer equipment
-
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.

 
2.13

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.

 
2.14

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.

 
2.15

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.

 
2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 8

 
RESPONSIV SOLUTIONS LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.17

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.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements 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.

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.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

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

Page 9

 
RESPONSIV SOLUTIONS LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)


2.17
Financial instruments (continued)

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.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

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.

Page 10

 
RESPONSIV SOLUTIONS LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.18

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 21 (2022 - 20).


4.


Tangible fixed assets





Plant and machinery
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 September 2022
4,116
9,730
95,981
109,827


Additions
-
-
9,540
9,540



At 31 August 2023

4,116
9,730
105,521
119,367



Depreciation


At 1 September 2022
1,417
7,706
82,334
91,457


Charge for the year on owned assets
736
1,382
13,057
15,175



At 31 August 2023

2,153
9,088
95,391
106,632



Net book value



At 31 August 2023
1,963
642
10,130
12,735



At 31 August 2022
2,699
2,024
13,647
18,370

Page 11

 
RESPONSIV SOLUTIONS LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

5.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors
12,250
12,250

12,250
12,250


2023
2022
£
£

Due within one year

Trade debtors
463,167
330,874

Other debtors
-
2,365

Prepayments and accrued income
148,877
57,941

Deferred taxation
58,793
-

670,837
391,180



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
2,974,033
3,145,089

2,974,033
3,145,089



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
65,862
119,180

Corporation tax
-
65,966

Other taxation and social security
129,086
157,004

Other creditors
454,518
606,135

Accruals and deferred income
686,255
244,955

1,335,721
1,193,240




Page 12

 
RESPONSIV SOLUTIONS LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

8.


Deferred taxation




2023
2022


£

£






At beginning of year
(2,955)
27,732


Charged to profit or loss
61,748
(30,687)



At end of year
58,793
(2,955)

The deferred taxation balance is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(3,184)
(4,592)

Tax losses carried forward
60,864
-

Other timing differences
1,113
1,637

58,793
(2,955)


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



279,413 (2022 - 279,413) Ordinary shares of £0.05 each
13,971
13,971



10.


Prior year adjustment

An adjustment of £119,597 has been made to the comparative balance sheet in order to record a transfer which should have been made between the profit and loss reserve and other reserves in respect of the allocation of shares out of treasury.  The effect of the transfer is to decrease the profit and loss reserve and to decrease the negative other reserves balance at the prior period end date.  This adjustment has had no effect on prior period net assets or reported profits.  The adjustment was made as the director believes that it better enables the financial statements to show a true and fair view.


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 payable by the Company is £82,910 (2022: £75,451).  At the year end date an amount of £7,712 (2022: £6,549) was outstanding and is included in creditors.

Page 13

 
RESPONSIV SOLUTIONS LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

12.


Related party transactions

At the year end, included in other creditors is the amount of £133,315 (2022: £135,457) owed by the company to the directors.

 
Page 14