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Registered number: 14461427









NEXER UNIFIED COMMERCE LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2023

 
NEXER UNIFIED COMMERCE LIMITED
REGISTERED NUMBER: 14461427

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
Note
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
79,059

Creditors: amounts falling due within one year
 5 
(191,212)

Net current (liabilities)/assets
  
 
 
(112,153)

  

Net (liabilities)/assets
  
(112,153)


Capital and reserves
  

Called up share capital 
  
1,000

Profit and loss account
  
(113,153)

  
(112,153)


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 on 19 February 2024.




D R Price
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
NEXER UNIFIED COMMERCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

Nexer Unified Commerce Limited ("the Company") is a private company, limited by shares, registered in England and Wales. The Company's registered number is 14461427, and registered office is 8 Northumberland Avenue, London, England, WC2N 5BY.
The Company was incorporated on 04 November 2022. These accounts cover the period from this date to 31 December 2023.

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

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the Company has adequate resources to continue to trade as a going concern for the foreseeable future.
The Company meets its day-to-day working capital requirements through an overdraft facility which is part of a group "cash pooling" facility; the Company's immediate parent, Nexer Unified Commerce AB, has confirmed it will continue to provide financial support for a period of at least twelve months from approval of the financial statements. On this basis, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

 
2.3

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.

Page 2

 
NEXER UNIFIED COMMERCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

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.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that is is probable will be recovered.

 
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

Debtors

Short-term debtors are measured at transaction price, less any impairment. 

 
2.8

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.

 
2.9

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.

Page 3

 
NEXER UNIFIED COMMERCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

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.

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.


3.


Employees

The average monthly number of employees, including directors, during the period was 1.


4.


Debtors

2023
£


Amounts owed by parent company
1,693

Amounts owed by group companies
72,096

Other debtors
3,602

Prepayments and accrued income
1,668

79,059


Page 4

 
NEXER UNIFIED COMMERCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

5.


Creditors: Amounts falling due within one year

2023
£

Bank overdrafts
116,152

Trade creditors
53,736

Amounts owed to group companies
562

Other taxation and social security
120

Accruals and deferred income
20,642

191,212



6.


Share capital

2023
£
Allotted, called up and fully paid


1,000 Ordinary shares of £1.00 each
1,000


On incorporation of the Company, 1,000 Ordinary shares of £1 each were issued.


7.


Related party transactions

As permitted by FRS 102, the Company has taken advantage of the exemption from disclosing transactions entered into between wholly owned group companies where those group company transactions have been prepared on an arm's length basis.
During the year the Company made payments of £144,800 in respect of key management personnel.


8.


Controlling party

The Company is a subsidiary of Nexer Unified Commerce AB, the ultimate parent company being Danir Development AB. Both companies are registered in Sweden. The financial statements of Danir Development AB are available at https://bolagsverket .se.


9.


Auditors' information

The auditors' report on the financial statements for the period ended 31 December 2023 was unqualified.

The audit report was signed on 19 February 2024 by Stuart Moon (Senior statutory auditor) on behalf of Barnes Roffe LLP.

 
Page 5