Caseware UK (AP4) 2023.0.135 2023.0.135 2023-09-302023-09-302022-10-01falsethe creation of software development solutions.11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12188130 2022-10-01 2023-09-30 12188130 2021-10-01 2022-09-30 12188130 2023-09-30 12188130 2022-09-30 12188130 c:Director1 2022-10-01 2023-09-30 12188130 d:OfficeEquipment 2022-10-01 2023-09-30 12188130 d:OfficeEquipment 2023-09-30 12188130 d:OfficeEquipment 2022-09-30 12188130 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 12188130 d:CurrentFinancialInstruments 2023-09-30 12188130 d:CurrentFinancialInstruments 2022-09-30 12188130 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 12188130 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 12188130 d:ShareCapital 2023-09-30 12188130 d:ShareCapital 2022-09-30 12188130 d:RetainedEarningsAccumulatedLosses 2023-09-30 12188130 d:RetainedEarningsAccumulatedLosses 2022-09-30 12188130 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-09-30 12188130 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-09-30 12188130 c:OrdinaryShareClass1 2022-10-01 2023-09-30 12188130 c:OrdinaryShareClass1 2023-09-30 12188130 c:OrdinaryShareClass1 2022-09-30 12188130 c:FRS102 2022-10-01 2023-09-30 12188130 c:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 12188130 c:FullAccounts 2022-10-01 2023-09-30 12188130 c:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 12188130 6 2022-10-01 2023-09-30 12188130 e:PoundSterling 2022-10-01 2023-09-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12188130









IT UP LIMITED








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

 
IT UP LIMITED
REGISTERED NUMBER: 12188130

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
  
1,623
-

Investments
 5 
41,000
41,000

  
42,623
41,000

Current assets
  

Debtors: amounts falling due within one year
 6 
443
-

Cash at bank and in hand
  
744
3,728

  
1,187
3,728

Creditors: amounts falling due within one year
 7 
(41,657)
(42,100)

Net current liabilities
  
 
 
(40,470)
 
 
(38,372)

Total assets less current liabilities
  
2,153
2,628

  

Net assets
  
2,153
2,628


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
2,053
2,528

  
2,153
2,628


Page 1

 
IT UP LIMITED
REGISTERED NUMBER: 12188130
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2023

The director considers 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 director acknowledges his 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 income and retained earnings 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 27 March 2024.




Andrew David Smith
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
IT UP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.


General information

The company is registered in England and Wales. The company's registered office is Stanley House, 27
Wellington Road, Bilaton, West Midlands, WV14 6AH. The principal activity of the company is the creation of software development solutions.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Page 3

 
IT UP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.3

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.

 
2.4

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
25%
reducing balances

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

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
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.

Page 4

 
IT UP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
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.

 
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.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Tangible fixed assets





Office equipment

£



Cost or valuation


Additions
1,998



At 30 September 2023

1,998



Depreciation


Charge for the year on owned assets
375



At 30 September 2023

375



Net book value



At 30 September 2023
1,623



At 30 September 2022
-

Page 5

 
IT UP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

5.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 October 2022
41,000



At 30 September 2023
41,000





6.


Debtors

2023
2022
£
£


Other debtors
443
-

443
-



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
-
443

Other creditors
41,657
41,657

41,657
42,100



8.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
744
3,728




Financial assets measured at fair value through profit or loss comprise...


9.


Share capital

2023
2022
Page 6

 
IT UP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

9.Share capital (continued)

£
£
Allotted, called up and fully paid



100 (2022 - 100) ordinary shares of £1.00 each
100
100


 
Page 7