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Registered number: 06706978










ALPHACELLO LIMITED

AUDITED
FINANCIAL STATEMENTS

FOR THE PERIOD ENDED
31 DECEMBER 2022
 






 



 






 
ALPHACELLO LIMITED
REGISTERED NUMBER: 06706978

BALANCE SHEET
AS AT 31 DECEMBER 2022

31 December
28 February
2022
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,693
120

Current assets
  

Debtors: amounts falling due within one year
 5 
140,591
192,443

Cash at bank and in hand
  
198,776
15,408

  
339,367
207,851

Creditors: amounts falling due within one year
 6 
(241,827)
(134,283)

Net current assets
  
 
 
97,540
 
 
73,568

Total assets less current liabilities
  
99,233
73,688

Creditors: amounts falling due after more than one year
 7 
(51,000)
(66,000)

  

Net assets
  
48,233
7,688


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
 10 
48,133
7,588

Shareholders' funds
  
48,233
7,688


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: 




Mr F L Law
Director

Date: 22 December 2023

The notes on pages 2 to 8 form part of these financial statements.

Page 1

 
ALPHACELLO LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

1.


General information

Alphacello Limited is a private company, limited by shares and incorporated in England and Wales, registration number 06706978. The registered office address is The Long Barn, Cobham Park Road, Downside, Surrey, KT11 3NE.
The current period audited financial statements is for the 10 months to 31 December 2022. The prior year unaudited financial statements were for 12 months to 28 February 2022.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The financial statements are presented in sterling which is the functional currency of the Company and rounded to the nearest £.

The following principal accounting policies have been applied:

  
2.2

Compliance with accounting standards

The financial statements have been prepared in accordance with the provisions of FRS102. There have been no material deviations from the standard.

 
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:

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.

Page 2

 
ALPHACELLO LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
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

Borrowing costs

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

 
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

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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

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
-
33%

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.

Page 3

 
ALPHACELLO LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
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.

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.

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

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
Page 4

 
ALPHACELLO LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

2.Accounting policies (continued)


2.12
Financial instruments (continued)

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.

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.

 
2.13

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 2 (2022 - 2).

Page 5

 
ALPHACELLO LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

4.


Tangible fixed assets







Office equipment

£



Cost or valuation


At 1 March 2022
3,496


Additions
2,499


Disposals
(707)



At 31 December 2022

5,288



Depreciation


At 1 March 2022
3,376


Charge for the period on owned assets
926


Disposals
(707)



At 31 December 2022

3,595



Net book value



At 31 December 2022
1,693


5.


Debtors

31 December
28 February
2022
2022
£
£


Trade debtors
99,208
5,261

Other debtors
2,221
148,020

Tax recoverable
39,162
39,162

140,591
192,443


Page 6

 
ALPHACELLO LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

6.


Creditors: Amounts falling due within one year

31 December
28 February
2022
2022
£
£

Bank overdrafts
-
13,938

Bank loans
18,000
18,000

Trade creditors
1,080
-

Amounts owed to group undertakings
42,030
-

Corporation tax
128,022
73,533

Other taxation and social security
26,447
28,812

Accruals and deferred income
26,248
-

241,827
134,283


Amounts owed to group undertakings are unsecured, interest free and repayable on demand.


7.


Creditors: Amounts falling due after more than one year

31 December
28 February
2022
2022
£
£

Bank loans
51,000
66,000


Bank loans attract interest at a margin over the Bank of England base rate, are repayable in instalments and reach maturity in 2026.
Bank loans are secured over all assets of the Company.


8.


Financial instruments

31 December
28 February
2022
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
198,776
15,408




Financial assets measured at fair value through profit or loss comprise cash and cash equivalents.

Page 7

 
ALPHACELLO LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

9.


Share capital

31 December
28 February
2022
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) A Ordinary shares of £1.00 each
100
100



10.


Reserves

Profit and loss account

The profit and loss account represents cumulative profit and losses net of dividends and other adjustments.


11.


Related party transactions

The Company has taken the exemption under FRS102 section 33.1A not to disclose transactions and balances with other group companies on the basis that it is a wholly owned subsidiary.


12.


Controlling party

The immediate and ultimate controlling party is Lawmans (UK) Limited, a company incorporated in England and Wales. The registered office address is The Old Mill Yard, Cobham Park Road, Cobham, Surrey, KT11 3NE.
The smallest and largest group of financial statements into which the results of the Company are consolidated is headed by Lawmans (UK) Limited. The consolidated financial statements are available from the registered office address and Companies House.


13.


Auditors' information

The auditors' report on the financial statements for the period ended 31 December 2022 was unqualified.

The audit report was signed on 22 December 2023 by Mark Nelligan FCA (Senior Statutory Auditor) on behalf of Wellden Turnbull Limited.


Page 8