Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-30trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2false2022-12-012true 07850307 2022-12-01 2023-11-30 07850307 2021-12-01 2022-11-30 07850307 2023-11-30 07850307 2022-11-30 07850307 c:Director1 2022-12-01 2023-11-30 07850307 d:CurrentFinancialInstruments 2023-11-30 07850307 d:CurrentFinancialInstruments 2022-11-30 07850307 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 07850307 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 07850307 d:RetainedEarningsAccumulatedLosses 2023-11-30 07850307 d:RetainedEarningsAccumulatedLosses 2022-11-30 07850307 c:FRS102 2022-12-01 2023-11-30 07850307 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 07850307 c:FullAccounts 2022-12-01 2023-11-30 07850307 c:CompanyLimitedByGuarantee 2022-12-01 2023-11-30 07850307 2 2022-12-01 2023-11-30 07850307 e:PoundSterling 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure

Registered number: 07850307










SUBOPTIC LIMITED
(A company limited by guarantee)








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
SUBOPTIC LIMITED
 
(A company limited by guarantee)
REGISTERED NUMBER: 07850307

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
86,691
180,262

Cash at bank and in hand
  
817,153
376,994

  
903,844
557,256

Creditors: amounts falling due within one year
 5 
(54,896)
(78,307)

Net current assets
  
 
 
848,948
 
 
478,949

Total assets less current liabilities
  
848,948
478,949

  

Net assets
  
848,948
478,949


Capital and reserves
  

Profit and loss account
  
848,948
478,949

  
848,948
478,949


Page 1

 
SUBOPTIC LIMITED
 
(A company limited by guarantee)
REGISTERED NUMBER: 07850307
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 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 by: 




A Shelton
Director
Date: 30 July 2024

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

Page 2

 
SUBOPTIC LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

SubOptic Limited is a company limited by guarantee and registered in England and Wales (07850307).
The registered office address is 27 Old Gloucester Street, London, England, WC1N 3AX.

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

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 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'.

 
2.3

Revenue

Subscription revenue is recognised on an accrual basis over the period of subscription and is
measured at the fair value of consideration receivable.
Conference revenue is recognised when the event has occurred and is measured at the fair value of
consideration due under the contract with the event service provider.

Page 3

 
SUBOPTIC LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

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

 
2.6

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 balance sheet date in the countries where the Company operates and generates income.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. 

 
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.

 
2.9

Creditors

Short-term creditors are measured at the transaction price.

 
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
Page 4

 
SUBOPTIC LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)


2.10
Financial instruments (continued)

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.

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.

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 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.

Page 5

 
SUBOPTIC LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

3.


Employees

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

4.


Debtors

2023
2022
£
£


Trade debtors
23,760
31,760

Other debtors
40,036
40,727

Prepayments and accrued income
22,895
107,775

86,691
180,262



5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
(377)
9,193

Corporation tax
23,555
-

Other creditors
2,759
5,960

Accruals and deferred income
28,959
63,154

54,896
78,307




6.


Company status

The company is a private company limited by guarantee and consequently does not have share capital.
Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the
company in the event of liquidation.


7.


Related party transactions

Included in other debtors is a loan to the subsidiaries of £38,018 (2022 - £40,330). This loan is interest free and repayable on demand.

 
Page 6