Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-3122022-09-01consultancyfalse2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09183360 2022-09-01 2023-08-31 09183360 2021-09-01 2022-08-31 09183360 2023-08-31 09183360 2022-08-31 09183360 c:Director1 2022-09-01 2023-08-31 09183360 d:MotorVehicles 2022-09-01 2023-08-31 09183360 d:MotorVehicles 2023-08-31 09183360 d:MotorVehicles 2022-08-31 09183360 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 09183360 d:OfficeEquipment 2022-09-01 2023-08-31 09183360 d:OfficeEquipment 2023-08-31 09183360 d:OfficeEquipment 2022-08-31 09183360 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 09183360 d:ComputerEquipment 2022-09-01 2023-08-31 09183360 d:ComputerEquipment 2023-08-31 09183360 d:ComputerEquipment 2022-08-31 09183360 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 09183360 d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 09183360 d:CurrentFinancialInstruments 2023-08-31 09183360 d:CurrentFinancialInstruments 2022-08-31 09183360 d:Non-currentFinancialInstruments 2023-08-31 09183360 d:Non-currentFinancialInstruments 2022-08-31 09183360 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 09183360 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 09183360 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 09183360 d:Non-currentFinancialInstruments d:AfterOneYear 2022-08-31 09183360 d:ShareCapital 2023-08-31 09183360 d:ShareCapital 2022-08-31 09183360 d:RetainedEarningsAccumulatedLosses 2023-08-31 09183360 d:RetainedEarningsAccumulatedLosses 2022-08-31 09183360 c:OrdinaryShareClass1 2022-09-01 2023-08-31 09183360 c:OrdinaryShareClass1 2023-08-31 09183360 c:OrdinaryShareClass1 2022-08-31 09183360 c:OrdinaryShareClass2 2022-09-01 2023-08-31 09183360 c:OrdinaryShareClass2 2023-08-31 09183360 c:OrdinaryShareClass2 2022-08-31 09183360 c:OrdinaryShareClass3 2022-09-01 2023-08-31 09183360 c:OrdinaryShareClass3 2023-08-31 09183360 c:OrdinaryShareClass3 2022-08-31 09183360 c:OrdinaryShareClass4 2022-09-01 2023-08-31 09183360 c:OrdinaryShareClass4 2023-08-31 09183360 c:OrdinaryShareClass4 2022-08-31 09183360 c:OrdinaryShareClass5 2022-09-01 2023-08-31 09183360 c:OrdinaryShareClass5 2023-08-31 09183360 c:OrdinaryShareClass5 2022-08-31 09183360 c:FRS102 2022-09-01 2023-08-31 09183360 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 09183360 c:FullAccounts 2022-09-01 2023-08-31 09183360 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 09183360 d:HirePurchaseContracts d:WithinOneYear 2023-08-31 09183360 d:HirePurchaseContracts d:WithinOneYear 2022-08-31 09183360 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-08-31 09183360 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-08-31 09183360 2 2022-09-01 2023-08-31 09183360 e:PoundSterling 2022-09-01 2023-08-31 iso4217:GBP xbrli:shares xbrli:pure


Registered number: 09183360












CAPSILEO LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023


 
REGISTERED NUMBER:09183360
CAPSILEO LIMITED

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
19,129
32,505

  
19,129
32,505

Current assets
  

Debtors: amounts falling due within one year
 5 
61,031
131,367

Cash at bank and in hand
  
96,187
102,697

  
157,218
234,064

Creditors: amounts falling due within one year
  
(52,314)
(120,669)

Net current assets
  
 
 
104,904
 
 
113,395

Total assets less current liabilities
  
124,033
145,900

Creditors: amounts falling due after more than one year
 6 
-
(2,230)

  

Net assets
  
124,033
143,670


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
123,933
143,570

  
124,033
143,670


Page 1


 
REGISTERED NUMBER:09183360
CAPSILEO LIMITED
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 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 profit and loss account 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 6 March 2024.




S D Bretagne
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 

CAPSILEO LIMITED

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

1.


General information

Capsileo Limited (Formerly B & P Approach Limited) is a private company limited by shares incorporated in England and Wales. The registered office is 16 Great Queen Street, Covent Garden, London, WC2B 5AH.
The financial statements are presented in Sterling (£), which is the functional currency of the company.
Monetary amounts in these financial statements are rounded to the nearest £.

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

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

 
2.3

Revenue

Revenue represents amounts receivable for services net of VAT.
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 it is probable will be recovered.

 
2.4

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

 

CAPSILEO LIMITED

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

2.Accounting policies (continued)


2.4
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 basis:

Motor vehicles
-
20%
Straight line
Office equipment
-
20%
Straight line
Computer equipment
-
20%
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.

 
2.5

Financial instruments

The Company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets and financial liabilities are recognised when the Company becomes party to the contractual provisions of the instrument. 
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. 
The component parts of compound instruments issued by the Company are classified separately as financial liabilities and equity in accordance with the substance of the contractual arrangement. On initial recognition the financial liability component is recorded at its fair value. The fair value of the liability component is estimated using the prevailing market interest rate for a similar instrument without equity features. The equity component is determined by deducting the amount of the liability component from the fair value of the compound instrument as a whole. This is recognised in equity and not subsequently remeasured.
The Company’s policies for its major classes of financial assets and financial liabilities are set out below. 
Financial assets
Basic financial assets, including trade and other debtors, and cash and bank balances, are initially recognised at transaction price, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price, which excludes transaction costs for those financial assets that are subsequently measured at fair value through profit and loss. 
 
Page 4

 

CAPSILEO LIMITED

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

2.Accounting policies (continued)


2.5
Financial instruments (continued)

Such financial assets are subsequently measured at fair value through profit or loss, where they are publicly traded, or fair value can be measured reliably, for example by using a valuation technique. Where fair value cannot be measured reliably, the financial asset is measured at cost less impairment. 
Financial liabilities
Basic financial liabilities, including trade and other creditors, and bank loans, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Derivative contracts 
Derivatives contracts, including interest rate swaps and foreign exchange forward contracts, are not basic financial instruments. 
Derivatives contracts are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in interest payable and similar expenses or interest receivable and similar income as appropriate. 
Derivative contracts 
The Company enters into floating to fixed interest rate swaps to manage its exposure to cash flow risk on its variable rate debt instruments. These derivatives are measured at fair value at each reporting date. To the extent the hedge is effective, movements in fair value are recognised in other comprehensive income and presented in a separate cash flow hedge reserve. Any ineffectiveness is recognised in the profit and loss account for the year within interest payable and similar expenses.
Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. 
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 
For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. 
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

 
Page 5

 

CAPSILEO LIMITED

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

2.Accounting policies (continued)


2.5
Financial instruments (continued)

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
If a transfer does not result in derecognition because the Company has retained significant risks and rewards of ownership of the transferred asset, the Company continues to recognise the transferred asset in its entirety and recognises a financial liability for the consideration received. The asset and liability are not offset. In subsequent periods, the Company recognises any income on the transferred asset and any expense incurred on the financial liability. 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. 
Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously

 
2.6

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

  
2.7

Share capital

Ordinary shares are classified as equity.

 
2.8

Interest income

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

 
2.9

Leased assets: the company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Page 6

 

CAPSILEO LIMITED

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

2.Accounting policies (continued)

 
2.10

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.

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.

 
2.11

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is Sterling (£).

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

 
2.12

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.. 

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.

Page 7

 

CAPSILEO LIMITED

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

2.Accounting policies (continued)

 
2.13

Taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years.
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.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Tangible fixed assets





Motor vehicles
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 September 2022
57,580
3,832
21,266
82,678


Additions
-
565
1,791
2,356



At 31 August 2023

57,580
4,397
23,057
85,034



Depreciation


At 1 September 2022
34,548
3,777
11,848
50,173


Charge for the year on owned assets
11,516
226
3,990
15,732



At 31 August 2023

46,064
4,003
15,838
65,905



Net book value



At 31 August 2023
11,516
394
7,219
19,129



At 31 August 2022
23,032
55
9,418
32,505

Page 8

 

CAPSILEO LIMITED

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

5.


Debtors

2023
2022
£
£


Trade debtors
54,793
112,459

Other debtors
207
11,835

Prepayments and accrued income
6,031
7,073

61,031
131,367



6.


Creditors: amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
-
2,230



7.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
2,230
12,164

Between 1-5 years
-
2,027

2,230
14,191


8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



47 (2022 - 47) Ordinary A shares of £1.00 each
47
47
47 (2022 - 47) Ordinary B shares of £1.00 each
47
47
2 (2022 - 2) Ordinary C shares of £1.00 each
2
2
2 (2022 - 2) Ordinary D shares of £1.00 each
2
2
2 (2022 - 2) Ordinary E shares of £1.00 each
2
2

100

100


Page 9

 

CAPSILEO LIMITED

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

9.


Related party transactions

Included within other creditors is an amount of £109 (2022: £23) due to the directors. These loans are provided interest free and are unsecured. There are no formal terms and conditions regarding repayment of these loans. 

 
Page 10