Caseware UK (AP4) 2023.0.135 2023.0.135 2023-09-302023-09-30No description of principal activity2022-10-01false156107falsetrue 12888264 2022-10-01 2023-09-30 12888264 2021-10-01 2022-09-30 12888264 2023-09-30 12888264 2022-09-30 12888264 c:Director1 2022-10-01 2023-09-30 12888264 c:Director2 2022-10-01 2023-09-30 12888264 c:Director2 2023-09-30 12888264 c:Director4 2022-10-01 2023-09-30 12888264 c:RegisteredOffice 2022-10-01 2023-09-30 12888264 d:ComputerEquipment 2022-10-01 2023-09-30 12888264 d:CurrentFinancialInstruments 2023-09-30 12888264 d:CurrentFinancialInstruments 2022-09-30 12888264 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 12888264 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 12888264 d:ShareCapital 2023-09-30 12888264 d:ShareCapital 2022-09-30 12888264 d:RetainedEarningsAccumulatedLosses 2023-09-30 12888264 d:RetainedEarningsAccumulatedLosses 2022-09-30 12888264 c:OrdinaryShareClass1 2022-10-01 2023-09-30 12888264 c:OrdinaryShareClass1 2023-09-30 12888264 c:OrdinaryShareClass1 2022-09-30 12888264 c:FRS102 2022-10-01 2023-09-30 12888264 c:Audited 2022-10-01 2023-09-30 12888264 c:FullAccounts 2022-10-01 2023-09-30 12888264 c:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 12888264 c:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 12888264









GOGLOBAL GEO UK LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2023

 
GOGLOBAL GEO UK LIMITED
 
 
COMPANY INFORMATION


Directors
S J Robertson (appointed 16 August 2023)
N J Broughton (resigned 16 August 2023)
L Wong (resigned 16 August 2023)




Registered number
12888264



Registered office
3rd Floor, Waverley House
7-12 Noel Street

London

W1F 8GQ




Independant auditors
Ecovis Wingrave Yeats LLP
Chartered Accountants & Statutory Auditors

3rd Floor, Waverley House

7-12 Noel Street

London

W1F 8GQ





 
GOGLOBAL GEO UK LIMITED
 

CONTENTS



Page
Balance Sheet
1
Notes to the Financial Statements
2 - 8


 
GOGLOBAL GEO UK LIMITED
REGISTERED NUMBER: 12888264

BALANCE SHEET
AS AT 30 SEPTEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
736,247
805,993

Cash at bank and in hand
  
536,381
9,691

  
1,272,628
815,684

Creditors: amounts falling due within one year
 6 
(705,390)
(416,049)

Net current assets
  
 
 
567,238
 
 
399,635

  
567,238
399,635

  

Net assets
  
567,238
399,635


Capital and reserves
  

Called up share capital 
 7 
1
1

Profit and loss account
  
567,237
399,634

Shareholder's funds
  
567,238
399,635


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 30 July 2024.


S J Robertson
Director

The notes on pages 2 to 8 form part of these financial statements.
Page 1

 
GOGLOBAL GEO UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.


General information

GoGlobal GEO UK Limited is a private limited company, limited by shares, domiciled in England and Wales, registration number 12888264. The registered office is 3rd Floor, Waverley House, 7-12 Noel Street, London, W1F 8GQ.

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

The financial statements have been prepared on a going concern basis which assumes that the Company will continue in operational existence for the foreseeable future.
The Company meets day to day working capital requirements through the continued support of its parent company. The parent company has confirmed that it is willing to provide ongoing support to the Company to meet its financial obligations as they fall due, and that it will not seek repayment of the intercompany balance if it will jeopardise the Company's ability to continue as a going concern. The directors are therefore satisfied that the statutory financial statements can be prepared 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.

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.

Page 2

 
GOGLOBAL GEO UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 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:

The principal activity of the Company in the year under review was that of the provision of human resources under service agreements with both third parties and a related party by virtue of common ownership. The Company employs individuals to fulfil the contracts and acts as both principal and agent, depending on the contract terms. 
The Company acts as agent where the Company provides human resources as specified by the customer and that customer retains the majority of the risks and rewards associated with the human resource. In these arrangements, the customer is usually responsible for hiring decisions, directing the employees, determining their position and remuneration including the associated payroll taxes. Where this is the case, the company recognises only the predetermined monthly fee within revenue for the duration of the contract. All costs incurred which are recharged to the customer are offset against the revenue generated.
The Company acts as principal where the Company provides human resources as specified by the customer and the Company retains the majority of the risks and rewards associated with the human resource. In these arrangements, the Company is usually responsible for hiring decisions, directing the employees, determining their position and remuneration including the associated payroll taxes. Where this is the case, the Company recognises the employment related costs within Cost of Sales and the gross revenue received.
For all types of contract there is usually a predetermined fee or agreed mark up for providing these
services.

 
2.5

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.

Page 3

 
GOGLOBAL GEO UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.6

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.

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.

 
2.7

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.

 
2.8

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
-
3 years

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.

Page 4

 
GOGLOBAL GEO UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Investments in non-derivative instruments that are equity to the issuer are measured:
at fair value with changes recognised in the Statement of Comprehensive Income if the shares are publicly traded or their fair value can otherwise be measured reliably;
at cost less impairment for all other investments.

Financial assets that are 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 Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Page 5

 
GOGLOBAL GEO UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The following are critical estimates that the directors have made in the process of applying the Company's accounting policies and that have the most significant effect on the amounts recognised in the financial statements.
Revenue recognition
The principal activity of the Company in the year under review was that of the provision of human resources under service agreements.  The contract terms between customers vary and therefore management must assess the terms of the contract to assess whether the Company is acting as principal or as agent. Judgement is involved as typically the contracts include a predetermined fee or agreed mark up for providing these services which is usually an indicator of an agency relationship, however, all terms outlined in each contract is reviewed to determine whether there are other factors that should be considered to determine whether the company is acting as principal or as agent.  Management have concluded that during the year the Company has acted as principal in respect of the services provided to a related party, under common control up to 31 December 2022. From 1 January 2023 onwards the company is deemed to act as an agent due to a change in contract. The Company has acted as an agent for the contracts in place with third parties.  See note 2.3 for details about the Company’s revenue recognition policy.


4.


Employees

The average monthly number of employees, including directors, during the year was 156 (2022 - 107).

Page 6

 
GOGLOBAL GEO UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
16,872
-

Amounts owed by group undertakings
701,084
796,913

Other debtors
570
8,830

Prepayments and accrued income
17,721
250

736,247
805,993


Amounts owed by group undertakings are unsecured, interest free and repayable on demand.


6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
28,379
7,764

Amounts owed to group undertakings
134,060
195,921

Corporation tax
53,638
98,974

Other taxation and social security
-
547

Other creditors
43,639
13,904

Accruals and deferred income
445,674
98,939

705,390
416,049


Included within the amounts owed to group undertakings is an amount of £Nil (2022 - £24,298), which is an unsecured loan, bearing interest of 3% per annum and was repaid in 2023.. The remaining amounts owed to group undertakings are unsecured, interest free and repayable on demand. 


7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary share of £1.00
1
1

The share has attached to it full voting, dividend and capital distribution (including on winding up) rights; it does not confer any rights of redemption.


Page 7

 
GOGLOBAL GEO UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

8.


Related party transactions

The Company has taken advantage of the exemption under Paragraph 33.1A of FRS 102 from disclosing transactions with wholly owned members of the same group.


9.


Controlling party

The immediate parent company is GoGlobal K.K. GoGlobal K.K., a company registered in Japan. 
During the year, the ultimate parent company changed to Investopedia Limited, a company incorporated in British Virgin Islands, registered address Wickhams Cay II, Road Town, Tortola VG1110. The Company is not included within group financial statements. The previous ultimate parent company was Boardroom Nominee (HK) Limited, a company incorporated in Hong Kong, registered address 31/F 148 Electric Rd North Point.


10.


Auditors' information

The auditors' report on the financial statements for the year ended 30 September 2023 was unqualified.

The audit report was signed on 30 July 2024 by Jessica Teague (Senior Statutory Auditor) on behalf of Ecovis Wingrave Yeats LLP.

 
Page 8