Caseware UK (AP4) 2022.0.179 2022.0.179 2023-07-312023-07-31true282022-08-01falseOther professional, scientific and technical activities not elsewhere classified26trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07708111 2022-08-01 2023-07-31 07708111 2021-08-01 2022-07-31 07708111 2023-07-31 07708111 2022-07-31 07708111 c:Director2 2022-08-01 2023-07-31 07708111 d:Buildings d:ShortLeaseholdAssets 2022-08-01 2023-07-31 07708111 d:PlantMachinery 2022-08-01 2023-07-31 07708111 d:PlantMachinery 2023-07-31 07708111 d:PlantMachinery 2022-07-31 07708111 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 07708111 d:MotorVehicles 2022-08-01 2023-07-31 07708111 d:MotorVehicles 2023-07-31 07708111 d:MotorVehicles 2022-07-31 07708111 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 07708111 d:FurnitureFittings 2022-08-01 2023-07-31 07708111 d:FurnitureFittings 2023-07-31 07708111 d:FurnitureFittings 2022-07-31 07708111 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 07708111 d:OtherPropertyPlantEquipment 2022-08-01 2023-07-31 07708111 d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 07708111 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-07-31 07708111 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-07-31 07708111 d:Goodwill 2023-07-31 07708111 d:Goodwill 2022-07-31 07708111 d:ComputerSoftware 2023-07-31 07708111 d:ComputerSoftware 2022-07-31 07708111 d:CurrentFinancialInstruments 2023-07-31 07708111 d:CurrentFinancialInstruments 2022-07-31 07708111 d:Non-currentFinancialInstruments 2023-07-31 07708111 d:Non-currentFinancialInstruments 2022-07-31 07708111 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 07708111 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 07708111 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 07708111 d:Non-currentFinancialInstruments d:AfterOneYear 2022-07-31 07708111 d:SharePremium 2023-07-31 07708111 d:SharePremium 2022-07-31 07708111 d:RetainedEarningsAccumulatedLosses 2023-07-31 07708111 d:RetainedEarningsAccumulatedLosses 2022-07-31 07708111 c:OrdinaryShareClass1 2022-08-01 2023-07-31 07708111 c:OrdinaryShareClass1 2023-07-31 07708111 c:OrdinaryShareClass1 2022-07-31 07708111 c:FRS102 2022-08-01 2023-07-31 07708111 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 07708111 c:FullAccounts 2022-08-01 2023-07-31 07708111 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 07708111 d:HirePurchaseContracts d:WithinOneYear 2023-07-31 07708111 d:HirePurchaseContracts d:WithinOneYear 2022-07-31 07708111 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-07-31 07708111 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-07-31 07708111 d:AcceleratedTaxDepreciationDeferredTax 2023-07-31 07708111 d:AcceleratedTaxDepreciationDeferredTax 2022-07-31 07708111 d:TaxLossesCarry-forwardsDeferredTax 2023-07-31 07708111 d:TaxLossesCarry-forwardsDeferredTax 2022-07-31 07708111 d:RetirementBenefitObligationsDeferredTax 2023-07-31 07708111 d:RetirementBenefitObligationsDeferredTax 2022-07-31 07708111 e:PoundSterling 2022-08-01 2023-07-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 07708111










FCS-LIVE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2023



 
FCS-LIVE LIMITED
REGISTERED NUMBER: 07708111

BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
£
£

Fixed assets
  

Tangible assets
 5 
33,312
52,217

  
33,312
52,217

Current assets
  

Debtors: amounts falling due within one year
 6 
2,001,089
1,798,806

Cash at bank and in hand
 7 
54,028
43,232

  
2,055,117
1,842,038

Creditors: amounts falling due within one year
 8 
(637,782)
(656,548)

Net current assets
  
 
 
1,417,335
 
 
1,185,490

Total assets less current liabilities
  
1,450,647
1,237,707

Creditors: amounts falling due after more than one year
 9 
(26,091)
(34,613)

  

Net assets
  
1,424,556
1,203,094


Capital and reserves
  

Share premium account
  
170,361
170,361

Profit and loss account
  
1,254,195
1,032,733

  
1,424,556
1,203,094


Page 1

 
FCS-LIVE LIMITED
REGISTERED NUMBER: 07708111

BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2023

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.

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




R L Ward
Director

Date: 31 January 2024

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
FCS-LIVE LIMITED
 

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

1.


General information

The Company is a private company, limited by share capital and incorporated in England and Wales.
The registered office and principal place of business is: Lindenmuth House, 37 Lindenmuth Way, Greenham Business Park, Newbury, Berkshire, RG19 6HW.

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

Page 3

 
FCS-LIVE LIMITED
 

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

2.Accounting policies (continued)

  
2.3

Revenue

About 65% of the revenue of the business derives from Fire Risk Assessments. In every case revenue is recognised after the completion of the assessment at which point the customer is contractually required to pay for the delivered service.
There are three other significant revenue streams: Software Licences, Fire Engineering Services and the completion of building Fire Plans.
Software Licences are, in almost every case, invoiced 12 months in advance and once paid are not refundable in any circumstances. Revenue is recognised at the date of invoice.
Fire Engineering Services may involve work over an extended period. A schedule of milestones is agreed with the customer at the outset of each project and invoicing takes place as each milestone is reached. The value of the invoicing reflects the estimated value of work done at that point.
Fire Plan work consists of a building inspection and the subsequent completion of a building Fire Plan in electronic and hard copy form. Each piece of work is normally invoiced on completion. If invoicing cannot take place for contractual reasons an estimate of the work done is included in the financial statements.
In the event of non-payment by customers after the end of an agreed credit period, an assessment of the collectability of the debt is made and a bad debt provision is applied based on the assessed likelihood of collecting the debt in question. All such application is on an invoice-by-invoice basis.
All revenue excludes VAT and any discount claimed or claimable.

 
2.4

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.

 
2.5

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.

Page 4

 
FCS-LIVE LIMITED
 

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

2.Accounting policies (continued)

 
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 Comprehensive Income in the same period as the related expenditure.

 
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:

Leasehold improvements
-
20%
Motor vehicles
-
25%
Fixtures and fittings
-
33%
Other property, plant and equipment
-
20%

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

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

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.

Page 5

 
FCS-LIVE LIMITED
 

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

2.Accounting policies (continued)

 
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

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.13

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.

 
2.14

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.

 
2.15

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 6

 
FCS-LIVE LIMITED
 

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

2.Accounting policies (continued)

 
2.16

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 28 (2022 - 26).

Page 7

 
FCS-LIVE LIMITED
 

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

4.


Intangible assets




Development expenditure
Other Intangible assets
Goodwill
Total

£
£
£
£



Cost


At 1 August 2022
172,914
22,000
145,660
340,574



At 31 July 2023

172,914
22,000
145,660
340,574



Amortisation


At 1 August 2022
172,914
22,000
145,660
340,574



At 31 July 2023

172,914
22,000
145,660
340,574



Net book value



At 31 July 2023
-
-
-
-



At 31 July 2022
-
-
-
-



Page 8

 
FCS-LIVE LIMITED
 

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

5.


Tangible fixed assets





Other property, plant and equipment
Motor vehicles
Fixtures and fittings and leasehold improvements
Total

£
£
£
£



Cost or valuation


At 1 August 2022
3,721
61,438
79,364
144,523


Additions
-
-
7,524
7,524



At 31 July 2023

3,721
61,438
86,888
152,047



Depreciation


At 1 August 2022
2,996
25,601
63,709
92,306


Charge for the year on owned assets
483
15,360
10,586
26,429



At 31 July 2023

3,479
40,961
74,295
118,735



Net book value



At 31 July 2023
242
20,477
12,593
33,312



At 31 July 2022
725
35,837
15,655
52,217

Page 9

 
FCS-LIVE LIMITED
 

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

6.


Debtors

2023
2022
£
£


Trade debtors
743,685
644,482

Other debtors
1,077,291
955,152

Prepayments and accrued income
179,595
178,772

Deferred taxation
518
20,400

2,001,089
1,798,806



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
54,028
43,232

54,028
43,232



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
305,837
338,606

Corporation tax
42,906
-

Other taxation and social security
207,064
182,226

Obligations under finance lease and hire purchase contracts
10,497
10,496

Other creditors
12,585
4,603

Accruals and deferred income
58,893
120,617

637,782
656,548



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
26,091
34,613

26,091
34,613


Page 10

 
FCS-LIVE LIMITED
 

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

10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
10,497
10,496

Between 1-5 years
26,091
34,613

36,588
45,109


11.


Deferred taxation




2023


£






At beginning of year
20,400


Charged to profit or loss
(19,882)



At end of year
518

The deferred tax asset is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(275)
(3,830)

Short term timing differences
793
490

Losses and other deductions
-
23,740

518
20,400

Page 11

 
FCS-LIVE LIMITED
 

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

12.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £0.00010 each
0.01
0.01



13.


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 £24,826 (2022 - £20,056). Contributions totalling £5,384 (2022- £4,603) were payable to the fund at the balance sheet date and are included in creditors.


14.


Controlling party

The Company is controlled by Dutton Ward Limited - the parent company.


Page 12