Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-3130truefalse2023-01-01No description of principal activity18trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11200977 2023-01-01 2023-12-31 11200977 2022-01-01 2022-12-31 11200977 2023-12-31 11200977 2022-12-31 11200977 c:Director2 2023-01-01 2023-12-31 11200977 d:OfficeEquipment 2023-01-01 2023-12-31 11200977 d:OfficeEquipment 2023-12-31 11200977 d:OfficeEquipment 2022-12-31 11200977 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11200977 d:ComputerEquipment 2023-01-01 2023-12-31 11200977 d:ComputerEquipment 2023-12-31 11200977 d:ComputerEquipment 2022-12-31 11200977 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11200977 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11200977 d:ComputerSoftware 2023-12-31 11200977 d:ComputerSoftware 2022-12-31 11200977 d:CurrentFinancialInstruments 2023-12-31 11200977 d:CurrentFinancialInstruments 2022-12-31 11200977 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11200977 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11200977 d:ShareCapital 2023-12-31 11200977 d:ShareCapital 2022-12-31 11200977 d:SharePremium 2023-01-01 2023-12-31 11200977 d:SharePremium 2023-12-31 11200977 d:SharePremium 2022-12-31 11200977 d:OtherMiscellaneousReserve 2023-01-01 2023-12-31 11200977 d:OtherMiscellaneousReserve 2023-12-31 11200977 d:OtherMiscellaneousReserve 2022-12-31 11200977 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 11200977 d:RetainedEarningsAccumulatedLosses 2023-12-31 11200977 d:RetainedEarningsAccumulatedLosses 2022-12-31 11200977 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-01-01 2023-12-31 11200977 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-12-31 11200977 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2022-12-31 11200977 c:OrdinaryShareClass1 2023-01-01 2023-12-31 11200977 c:OrdinaryShareClass1 2023-12-31 11200977 c:OrdinaryShareClass1 2022-12-31 11200977 c:OrdinaryShareClass2 2023-01-01 2023-12-31 11200977 c:OrdinaryShareClass2 2023-12-31 11200977 c:OrdinaryShareClass2 2022-12-31 11200977 c:FRS102 2023-01-01 2023-12-31 11200977 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11200977 c:FullAccounts 2023-01-01 2023-12-31 11200977 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11200977 d:Subsidiary1 2023-01-01 2023-12-31 11200977 d:Subsidiary1 1 2023-01-01 2023-12-31 11200977 d:Subsidiary2 2023-01-01 2023-12-31 11200977 d:Subsidiary2 1 2023-01-01 2023-12-31 11200977 d:ComputerSoftware d:InternallyGeneratedIntangibleAssets 2023-01-01 2023-12-31 11200977 6 2023-01-01 2023-12-31 11200977 d:ComputerSoftware d:OwnedIntangibleAssets 2023-01-01 2023-12-31 11200977 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11200977










CIRCA5000 LTD








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
CIRCA5000 LTD
REGISTERED NUMBER: 11200977

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
1,717,140
1,731,208

Tangible assets
 5 
4,800
17,473

Investments
 6 
2
2

  
1,721,942
1,748,683

Current assets
  

Debtors: amounts falling due within one year
 7 
26,443
437,148

Cash at bank and in hand
 8 
379,893
784,716

  
406,336
1,221,864

Creditors: amounts falling due within one year
 9 
(607,471)
(1,179,254)

Net current (liabilities)/assets
  
 
 
(201,135)
 
 
42,610

Total assets less current liabilities
  
1,520,807
1,791,293

Provisions for liabilities
  

Other provisions
 10 
-
(15,333)

  
 
 
-
 
 
(15,333)

Net assets
  
1,520,807
1,775,960


Capital and reserves
  

Called up share capital 
 11 
2,676
2,270

Share premium account
 12 
13,897,501
11,069,152

Advance subscriptions
 12 
-
535,852

Profit and loss account
 12 
(12,379,370)
(9,831,314)

  
1,520,807
1,775,960


Page 1

 
CIRCA5000 LTD
REGISTERED NUMBER: 11200977
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 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 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 1 August 2024.




T. McGillycuddy
Director

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
CIRCA5000 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The company is a private company limited by shares, which is incorporated under the Companies Act 2006 and registered in England (number 11200977). The address of the registered office is 3rd Floor 86-90 Paul Street, London, EC2A 4NE.
These financial statements present information about the company as an individual undertaking. 
The principal activity of the company is that of an app-based thematic investment platform.

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 the Statement of comprehensive income 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 Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of comprehensive income within 'other operating income'.

Page 3

 
CIRCA5000 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

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:

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.

 
2.4

Finance costs

Finance costs are charged to the Statement of comprehensive income 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.

 
2.5

Borrowing costs

All borrowing costs are recognised in the Statement of comprehensive income in the year in which they are incurred.

 
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.

Page 4

 
CIRCA5000 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

Taxation

Tax is recognised in the Statement of comprehensive income, 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

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

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:

Office equipment
-
33%
Computer equipment
-
33%

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 5

 
CIRCA5000 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

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 balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income 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 Balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.11

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.

 
2.12

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.

 
2.13

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.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 18 (2022 - 30).

Page 6

 
CIRCA5000 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Intangible assets




Computer software

£



Cost


At 1 January 2023
2,779,507


Additions - internal
677,293



At 31 December 2023

3,456,800



Amortisation


At 1 January 2023
1,048,300


Charge for the year on owned assets
691,360



At 31 December 2023

1,739,660



Net book value



At 31 December 2023
1,717,140



At 31 December 2021
1,731,208



Page 7

 
CIRCA5000 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
7,590
65,069
72,659


Additions
-
90
90



At 31 December 2023

7,590
65,159
72,749



Depreciation


At 1 January 2023
7,191
47,995
55,186


Charge for the year on owned assets
398
12,365
12,763



At 31 December 2023

7,589
60,360
67,949



Net book value



At 31 December 2023
1
4,799
4,800



At 31 December 2022
399
17,074
17,473

Page 8

 
CIRCA5000 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
2



At 31 December 2023
2





Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Registered office

Class of shares

Holding

CIRCA5000 UK Limited
86-90 Paul Street, London, United Kingdom, EC2A 4NE
Ordinary
100%
TICKR IMPACT (IRELAND) Limited
Coliemore House, Coliemore Road, Dalkey, Dublin, A96 A8D5
Ordinary
100%

On 7 April 2021, TICKR IMPACT (IRELAND), a company registered in Ireland, was incorporated. It was dormant in the period to 31 December 2023. 
CIRCA5000 UK Limited was also dormant in the period to 31 December 2023. 

Page 9

 
CIRCA5000 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Debtors

2023
2022
£
£


Trade debtors
-
649

Other debtors
15,626
16,860

Prepayments and accrued income
10,817
69,003

Tax recoverable
-
350,636

26,443
437,148



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
379,893
784,716

379,893
784,716



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Convertible loan stock
-
375,000

Trade creditors
337,762
251,602

Other taxation and social security
243,627
411,622

Other creditors
3,582
7,838

Accruals and deferred income
22,500
133,192

607,471
1,179,254


Page 10

 
CIRCA5000 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Provisions





Other provision 1

£





At 1 January 2023
15,333


Charged to profit or loss
(15,333)



At 31 December 2023
-


11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



16,662,050 (31 December 2022 -15,877,300) Ordinary shares of £0.0001- each
1,666.21
1,587.73
10,099,597(31 December 2022 - 6,826,300) Seed shares of £0.0001 each
1,009.96
682.63

2,676.17

2,270.36


During the period, 3,273,297 seed shares of £0.0001 were issued.         
784,750 ordinary shares of £0.0001 were also issued. 


12.


Reserves

Share premium account

Represents the additional premium paid on issue of shares at above par value.

Other reserves

Represents amounts paid by subscribers for shares in the period ended 31 December 2022 which had not been issued at that balance sheet date. 

Profit and loss account

Retained earnings includes all current and prior period retained profits and losses.

Page 11

 
CIRCA5000 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £58,153 (2022 - £18,527) Contributions totalling £1,325 (2022 - £7,325) were payable to the fund at the balance sheet date.


14.


Controlling party

The company is under the control of M. Latham and T. McGillycuddy, directors, by virtue of their majority shareholdings. 

 
Page 12