Caseware UK (AP4) 2022.0.179 2022.0.179 2023-04-302023-04-30false02022-08-24No description of principal activity2truetrue 14314970 2022-08-23 14314970 2023-04-30 14314970 2022-08-24 2023-04-30 14314970 2021-08-24 2022-08-23 14314970 c:Director1 2022-08-24 2023-04-30 14314970 d:ComputerEquipment 2022-08-24 2023-04-30 14314970 d:ComputerEquipment 2023-04-30 14314970 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-08-24 2023-04-30 14314970 d:CurrentFinancialInstruments 2023-04-30 14314970 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 14314970 d:ShareCapital 2022-08-24 2023-04-30 14314970 d:ShareCapital 2023-04-30 14314970 d:RetainedEarningsAccumulatedLosses 2022-08-24 2023-04-30 14314970 d:RetainedEarningsAccumulatedLosses 2023-04-30 14314970 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-04-30 14314970 c:OrdinaryShareClass1 2022-08-24 2023-04-30 14314970 c:OrdinaryShareClass1 2023-04-30 14314970 c:FRS102 2022-08-24 2023-04-30 14314970 c:Audited 2022-08-24 2023-04-30 14314970 c:FullAccounts 2022-08-24 2023-04-30 14314970 c:PrivateLimitedCompanyLtd 2022-08-24 2023-04-30 14314970 c:SmallCompaniesRegimeForAccounts 2022-08-24 2023-04-30 14314970 e:PoundSterling 2022-08-24 2023-04-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 14314970














FTI ONLINE LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE PERIOD ENDED 30 APRIL 2023

 
FTI ONLINE LIMITED
REGISTERED NUMBER: 14314970

BALANCE SHEET
AS AT 30 APRIL 2023

2023
Note

Fixed assets
  

Tangible assets
 4 
4,796

 
Current assets
  

Stocks
  
49,755

Debtors: amounts falling due within one year
 5 
9,029

Cash at bank and in hand
 6 
5,131

Current liabilities
  
63,915

Creditors: amounts falling due within one year
 7 
(174,585)

Net current (liabilities)/assets
  
 
 
(110,670)

  

Net (liabilities)/assets
  
£(105,874)


Capital and reserves
  

Called up share capital 
 9 
100

Profit and loss account
  
(105,974)

  
£(105,874)


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 16 April 2024.




................................................
M F Roscoe
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 1

 
FTI ONLINE LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 30 APRIL 2023


Called up share capital
Profit and loss account
Total equity


Comprehensive income for the period

Loss for the period
-
(105,974)
(105,974)
Total comprehensive income for the period
-
(105,974)
(105,974)


Contributions by and distributions to owners

Shares issued during the period
100
-
100


Total transactions with owners
100
-
100


At 30 April 2023
£100
£(105,974)
£(105,874)

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
FTI ONLINE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

1.


General information

FTI Online Limited is a private company, limited by shares, incorporated in England and Wales. 
The company registration number is 14314970. 
The registered office address is Henwood House, Henwood, Ashford, Kent TN24 8DH.
The principal place of business address is 12-16 Grosvenor Road, Tunbridge Wells, Kent, TN1 2AB.

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 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

Going concern

The financial statements have been prepared on a going concern basis.  The company is a subsidiary of Food Team Group Limited and is dependent on the continuing financial support of its parent undertaking to operate as a going concern. Accordingly, the directors consider that it is appropriate to prepare the financial statements on the going concern basis.

 
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.

The amounts presented in the accounts are rounded to the nearest whole GBP (£).

Page 3

 
FTI ONLINE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 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:

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.

 
2.5

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, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
20%

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.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

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

 
FTI ONLINE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
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. 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.

 
2.9

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.

 
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.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

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.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Page 5

 
FTI ONLINE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

2.Accounting policies (continued)


2.10
Financial instruments (continued)

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument 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.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees




The average monthly number of employees, including directors, during the period was 2.

Page 6

 
FTI ONLINE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

4.


Tangible fixed assets





Computer equipment



Cost or valuation


Additions
5,232



At 30 April 2023

5,232



Depreciation


Charge for the period on owned assets
436



At 30 April 2023

436



Net book value



At 30 April 2023
£4,796


5.


Debtors

2023


Trade debtors
3,789

Amounts owed by group undertakings
60

Amounts owed by joint ventures and associated undertakings
40

Other debtors
2,046

Prepayments and accrued income
3,094

£9,029



6.


Cash and cash equivalents

2023

Cash at bank and in hand
£5,131


Page 7

 
FTI ONLINE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

7.


Creditors: Amounts falling due within one year

2023

Trade creditors
71,181

Amounts owed to group undertakings
64,738

Accruals and deferred income
38,666

£174,585



8.


Financial instruments

2023

Financial assets


Financial assets measured at fair value through profit or loss
£5,131




Financial assets measured at fair value through profit or loss comprise of cash at bank and in hand.


9.


Share capital

2023
Allotted, called up and fully paid


100 ordinary shares of £1.00 each
£100


On incorporation, 100 ordinary shares were issued at a nominal value of £1.00.


10.
Ultimate parent undertaking and controlling party

At the balance sheet date, the immediate and ultimate parent undertaking is Food Team Group Limited, a company incorporated in England and Wales. 
M Roscoe is the controlling party of the company.
The parent undertaking of the group to consolidate their financial statements is Food Team Group Limited, a company incorporated in England and Wales. The registered office of the company is 
Henwood House, Henwood, Ashford, Kent TN24 8DH. 
Food Team Group Limited is also the most senior parent entity producing publicly available financial statements.
Food Team Group Limited has prepared consolidated financial statements which include this company and are publicly available.
 


Page 8

 
FTI ONLINE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

11.


Auditors' information

The auditors' report on the financial statements for the period ended 30 April 2023 was unqualified.

The audit report was signed on 17 April 2024 by Andrew John Childs FCA (Senior statutory auditor) on behalf of Magee Gammon Corporate Limited.


Page 9