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Registered number: 13636079









NEXER INSIGHT LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
NEXER INSIGHT LIMITED
REGISTERED NUMBER: 13636079

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
406
848

Current assets
  

Debtors: amounts falling due within one year
 5 
13,190
47,131

Cash at bank and in hand
  
-
59

  
13,190
47,190

Creditors: amounts falling due within one year
 6 
(292,768)
(234,640)

Net current liabilities
  
 
 
(279,578)
 
 
(187,450)

  

Net liabilities
  
(279,172)
(186,602)


Capital and reserves
  

Called up share capital 
 7 
1,000
1,000

Profit and loss account
  
(280,172)
(187,602)

  
(279,172)
(186,602)


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 M Österlindh
Director

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 
NEXER INSIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Nexer Insight Limited ("the Company") is a private company, limited by shares, registered in England and Wales. The Company's registered number is 13636079, and registered office is 8 Northumberland Avenue, London, England, WC2N 5BY.

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 Insight 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 INSIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR 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.

 
2.5

Interest income

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

 
2.6

Borrowing costs

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

 
2.7

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.

 
2.8

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.

Page 3

 
NEXER INSIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

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 annual basis:

Office equipment
-
33%
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.

 
2.9

Debtors

Short-term debtors are measured at transaction price, 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. 

 
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.

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 2 (2022 - 2). 

Page 4

 
NEXER INSIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 January 2023
1,328



At 31 December 2023

1,328



Depreciation


At 1 January 2023
480


Charge for the year on owned assets
442



At 31 December 2023

922



Net book value



At 31 December 2023
406

Page 5

 
NEXER INSIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
7,440
28,774

Amounts owed by group companies
3,994
-

Prepayments and accrued income
1,756
18,357

13,190
47,131



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
225,247
142,445

Trade creditors
178
13,704

Amounts owed to group companies
56,928
57,991

Other taxation and social security
1,965
8,214

Other creditors
380
-

Accruals and deferred income
8,070
12,286

292,768
234,640



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,000 (2022 - 1,000) Ordinary shares of £1.00 each
1,000
1,000



8.


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 £3,748 (2022 - £2,200). Contributions totalling £380 (2022 - £Nil)  were payable to the fund at the balance sheet date and are included in creditors.

Page 6

 
NEXER INSIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


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. 
At the year end, the Company owed £Nil (
2022 - £11,356) to connected companies.
During the year the Company made payments of £32,768 
(2022 - £192,611) in respect of key management personnel.


10.


Controlling party

The Company is a subsidiary of Nexer Insight 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.


11.


Auditor's information

The auditor's report on the financial statements for the year 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 7