Caseware UK (AP4) 2022.0.179 2022.0.179 2024-03-312024-03-31true2023-04-013falseNo description of principal activity2trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09861733 2023-04-01 2024-03-31 09861733 2022-04-01 2023-03-31 09861733 2024-03-31 09861733 2023-03-31 09861733 c:Director2 2023-04-01 2024-03-31 09861733 d:OfficeEquipment 2023-04-01 2024-03-31 09861733 d:OfficeEquipment 2024-03-31 09861733 d:OfficeEquipment 2023-03-31 09861733 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09861733 d:PatentsTrademarksLicencesConcessionsSimilar 2024-03-31 09861733 d:PatentsTrademarksLicencesConcessionsSimilar 2023-03-31 09861733 d:CurrentFinancialInstruments 2024-03-31 09861733 d:CurrentFinancialInstruments 2023-03-31 09861733 d:Non-currentFinancialInstruments 2024-03-31 09861733 d:Non-currentFinancialInstruments 2023-03-31 09861733 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 09861733 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09861733 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 09861733 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 09861733 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 09861733 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 09861733 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 09861733 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 09861733 d:ShareCapital 2024-03-31 09861733 d:ShareCapital 2023-03-31 09861733 d:RetainedEarningsAccumulatedLosses 2024-03-31 09861733 d:RetainedEarningsAccumulatedLosses 2023-03-31 09861733 c:OrdinaryShareClass1 2023-04-01 2024-03-31 09861733 c:OrdinaryShareClass1 2024-03-31 09861733 c:OrdinaryShareClass1 2023-03-31 09861733 c:FRS102 2023-04-01 2024-03-31 09861733 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 09861733 c:FullAccounts 2023-04-01 2024-03-31 09861733 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09861733 2 2023-04-01 2024-03-31 09861733 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2023-04-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 09861733










TRUCRYO LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
TRUCRYO LIMITED
REGISTERED NUMBER: 09861733

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
9,319
10,835

Tangible assets
 5 
285
788

  
9,604
11,623

Current assets
  

Stocks
  
185,662
266,986

Debtors: amounts falling due within one year
 6 
361,933
290,191

Cash at bank and in hand
 7 
130,603
76,308

  
678,198
633,485

Creditors: amounts falling due within one year
 8 
(255,338)
(242,931)

Net current assets
  
 
 
422,860
 
 
390,554

Total assets less current liabilities
  
432,464
402,177

Creditors: amounts falling due after more than one year
 9 
(11,653)
(21,884)

  

Net assets
  
420,811
380,293


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
419,811
379,293

  
420,811
380,293


Page 1

 
TRUCRYO LIMITED
REGISTERED NUMBER: 09861733
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

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 profit and loss account 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: 




Christopher J Davies
Director

Date: 23 April 2024

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

Page 2

 
TRUCRYO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

TruCryo Limited is a private limited company, limited by shares, with its registered office at Belmont House, Shrewsbury Business Park , Shrewsbury , Shropshire SY2 6LG.

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

Page 3

 
TRUCRYO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

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

Interest income

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

 
2.5

Borrowing costs

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

 
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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
TRUCRYO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

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

 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

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
-
3 years 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.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 5

 
TRUCRYO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.11

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.

 
2.12

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.

 
2.13

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.

 
2.14

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 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.

 
2.15

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 3 (2023 - 2).

Page 6

 
TRUCRYO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Intangible assets




Patents

£



Cost


At 1 April 2023
15,610



At 31 March 2024

15,610



Amortisation


At 1 April 2023
4,775


Charge for the year on owned assets
1,516



At 31 March 2024

6,291



Net book value



At 31 March 2024
9,319



At 31 March 2023
10,835



Page 7

 
TRUCRYO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 April 2023
2,193


Additions
426



At 31 March 2024

2,619



Depreciation


At 1 April 2023
1,405


Charge for the year on owned assets
929



At 31 March 2024

2,334



Net book value



At 31 March 2024
285



At 31 March 2023
788


6.


Debtors

2024
2023
£
£


Trade debtors
262,785
201,497

Other debtors
80,149
71,634

Prepayments and accrued income
18,999
17,060

361,933
290,191



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
130,603
76,308

130,603
76,308


Page 8

 
TRUCRYO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,802
10,552

Trade creditors
11,338
1,637

Amounts owed to group undertakings
231,860
134,843

Other taxation and social security
(1,078)
93,890

Other creditors
596
294

Accruals and deferred income
1,820
1,715

255,338
242,931



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
11,653
21,884

11,653
21,884


Page 9

 
TRUCRYO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,802
10,552


10,802
10,552

Amounts falling due 1-2 years

Bank loans
10,802
10,552


10,802
10,552

Amounts falling due 2-5 years

Bank loans
851
11,332


851
11,332


22,455
32,436



11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,000 (2023 - 1,000) Ordinary shares of £1.00 each
1,000
1,000


 
Page 10