Caseware UK (AP4) 2022.0.179 2022.0.179 2023-12-312023-12-312022-12-01falseOther education11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13722525 2022-12-01 2023-12-31 13722525 2021-11-03 2022-11-30 13722525 2023-12-31 13722525 2022-11-30 13722525 c:Director1 2022-12-01 2023-12-31 13722525 d:OfficeEquipment 2022-12-01 2023-12-31 13722525 d:OfficeEquipment 2023-12-31 13722525 d:OfficeEquipment 2022-11-30 13722525 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-12-01 2023-12-31 13722525 d:ComputerEquipment 2022-12-01 2023-12-31 13722525 d:ComputerEquipment 2023-12-31 13722525 d:ComputerEquipment 2022-11-30 13722525 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-12-01 2023-12-31 13722525 d:OwnedOrFreeholdAssets 2022-12-01 2023-12-31 13722525 d:CurrentFinancialInstruments 2023-12-31 13722525 d:CurrentFinancialInstruments 2022-11-30 13722525 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 13722525 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 13722525 d:ShareCapital 2023-12-31 13722525 d:ShareCapital 2022-11-30 13722525 d:RetainedEarningsAccumulatedLosses 2023-12-31 13722525 d:RetainedEarningsAccumulatedLosses 2022-11-30 13722525 c:OrdinaryShareClass1 2022-12-01 2023-12-31 13722525 c:OrdinaryShareClass1 2023-12-31 13722525 c:OrdinaryShareClass1 2022-11-30 13722525 c:FRS102 2022-12-01 2023-12-31 13722525 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-12-31 13722525 c:FullAccounts 2022-12-01 2023-12-31 13722525 c:PrivateLimitedCompanyLtd 2022-12-01 2023-12-31 13722525 2 2022-12-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 13722525









EDIFY LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2023

 
EDIFY LTD
REGISTERED NUMBER: 13722525

BALANCE SHEET
AS AT 31 DECEMBER 2023

31 December
30 November
2023
2022
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
18,765
2,304

  
18,765
2,304

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 5 
84,671
58,107

Cash at bank and in hand
  
213,819
168,063

  
298,490
226,170

Creditors: amounts falling due within one year
 6 
(3,593)
(35,721)

NET CURRENT ASSETS
  
 
 
294,897
 
 
190,449

TOTAL ASSETS LESS CURRENT LIABILITIES
  
313,662
192,753

  

NET ASSETS
  
313,662
192,753


CAPITAL AND RESERVES
  

Called up share capital 
 7 
1
1

Profit and loss account
  
313,661
192,752

  
313,662
192,753


Page 1

 
EDIFY LTD
REGISTERED NUMBER: 13722525
    
BALANCE SHEET (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 period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her 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 by: 




C L Ward
Director

Date: 22 April 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
EDIFY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


GENERAL INFORMATION

The Company is limited by shares and incorporated in England and Wales. The address of the registered office and the principal trading address is 20-22 Wenlock Road, London, England, N1 7GU.
The financial statements are presented in sterling which is the functional currency of the company.
The significant accounting policies applied in the preparation of these financial statements are set out below.  These policies have been consistently applied to all years presented unless otherwise stated.

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'.

 
2.3

TURNOVER

Turnover comprises revenue recognised by the Company in respect of educational services provided during the period. Revenue is recognised at the point the licenses are purchased and are available for the client to use.  

Page 3

 
EDIFY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

INTEREST INCOME

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

 
2.5

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.

 
2.6

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 balance sheet date in the countries where the Company operates and generates income.

 
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:

Office equipment
-
25%
Straight Line
Computer equipment
-
25%
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.

 
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.

Page 4

 
EDIFY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.10

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

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 period was 1 (2022 - 1).


4.


TANGIBLE FIXED ASSETS







Office equipment
Computer equipment
Total

£
£
£



COST OR VALUATION


At 1 December 2022
1,268
1,434
2,702


Additions
18,341
2,115
20,456



At 31 December 2023

19,609
3,549
23,158



DEPRECIATION


At 1 December 2022
159
239
398


Charge for the period on owned assets
3,511
484
3,995



At 31 December 2023

3,670
723
4,393



NET BOOK VALUE



At 31 December 2023
15,939
2,826
18,765



At 30 November 2022
1,109
1,195
2,304

Page 5

 
EDIFY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

5.


DEBTORS

31 December
30 November
2023
2022
£
£


Trade debtors
30,128
7,175

Other debtors
51,943
47,726

Prepayments and accrued income
2,600
3,206

84,671
58,107


Included within other debtors due within one year is repayable on demand, interest free loan to the director, amounting to £51,943 (2022 - £47,726). The loan has been repaid in full within 9 months of the balance sheet date.


6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31 December
30 November
2023
2022
£
£

Trade creditors
793
2,107

Other taxation and social security
-
1,788

Accruals and deferred income
2,800
31,826

3,593
35,721



7.


SHARE CAPITAL

31
 December
30 November
2023
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



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


 
Page 6