Caseware UK (AP4) 2022.0.179 2022.0.179 2023-10-312023-10-312true2022-11-01falseNo description of principal activity2trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12686822 2022-11-01 2023-10-31 12686822 2021-07-01 2022-10-31 12686822 2023-10-31 12686822 2022-10-31 12686822 c:Director2 2022-11-01 2023-10-31 12686822 d:CurrentFinancialInstruments 2023-10-31 12686822 d:CurrentFinancialInstruments 2022-10-31 12686822 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 12686822 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 12686822 d:ShareCapital 2023-10-31 12686822 d:ShareCapital 2022-10-31 12686822 d:SharePremium 2023-10-31 12686822 d:SharePremium 2022-10-31 12686822 d:RetainedEarningsAccumulatedLosses 2023-10-31 12686822 d:RetainedEarningsAccumulatedLosses 2022-10-31 12686822 c:EntityNoLongerTradingButTradedInPast 2022-11-01 2023-10-31 12686822 c:FRS102 2022-11-01 2023-10-31 12686822 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 12686822 c:FullAccounts 2022-11-01 2023-10-31 12686822 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 12686822 e:PoundSterling 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure

Registered number: 12686822









ALGORITMO LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 OCTOBER 2023

 
ALGORITMO LIMITED
REGISTERED NUMBER: 12686822

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
-
14,343

Cash at bank and in hand
 5 
-
220,761

  
-
235,104

Creditors: amounts falling due within one year
 6 
-
(149,276)

Net current assets
  
 
 
-
 
 
85,828

Total assets less current liabilities
  
-
85,828

  

Net assets
  
-
85,828


Capital and reserves
  

Called up share capital 
  
100
100

Share premium account
  
300
300

Profit and loss account
  
(400)
85,428

  
-
85,828


Page 1

 
ALGORITMO LIMITED
REGISTERED NUMBER: 12686822
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 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 period 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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 Kruger
Director

Date: 12 February 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
ALGORITMO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2023

1.


General information

Algoritmo Limited is a private company, limited by shares and incorporated in England and Wales (registered number: 12686822). The registered office address is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH. 
The financial statements are presented in Sterling, which is the functional currency of the Company.

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 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 judgment in applying the Company's accounting policies.

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

 
ALGORITMO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2023

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:

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

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.

 
2.5

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 reporting date in the countries where the Company operates and generates income.

 
2.6

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.

 
2.7

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 4

 
ALGORITMO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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

31 October
2023
£

Social security costs
385

385


The average monthly number of employees, including the directors, during the period was as follows:


      31 October
     Period ended
       31 October
        2023
        2022
            No.
            No.







Directors
2
2

Page 5

 
ALGORITMO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2023

4.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
-
14,343

-
14,343



5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
-
220,761

-
220,761



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
-
137,686

Other creditors
-
11,590

-
149,276


 
Page 6