Caseware UK (AP4) 2023.0.135 2023.0.135 2023-01-01falseNo description of principal activityfalsetrue 12612849 2023-01-01 2023-12-31 12612849 2022-01-01 2022-12-31 12612849 2023-12-31 12612849 2022-12-31 12612849 c:Director5 2023-01-01 2023-12-31 12612849 d:OfficeEquipment 2023-01-01 2023-12-31 12612849 d:OfficeEquipment 2023-12-31 12612849 d:OfficeEquipment 2022-12-31 12612849 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12612849 d:ComputerEquipment 2023-01-01 2023-12-31 12612849 d:CurrentFinancialInstruments 2023-12-31 12612849 d:CurrentFinancialInstruments 2022-12-31 12612849 d:Non-currentFinancialInstruments 2023-12-31 12612849 d:Non-currentFinancialInstruments 2022-12-31 12612849 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 12612849 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 12612849 d:ShareCapital 2023-12-31 12612849 d:ShareCapital 2022-12-31 12612849 d:RetainedEarningsAccumulatedLosses 2023-12-31 12612849 d:RetainedEarningsAccumulatedLosses 2022-12-31 12612849 c:FRS102 2023-01-01 2023-12-31 12612849 c:Audited 2023-01-01 2023-12-31 12612849 c:FullAccounts 2023-01-01 2023-12-31 12612849 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12612849 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 12612849 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure


















PunchOut2Go Limited
























Financial statements



For the year ended 31 December 2023



Registered number: 12612849

 
PunchOut2Go Limited - Registered number:12612849


Statement of financial position
As at 31 December 2023

2023
2023
2022
2022
Note
$
$
$
$

Fixed assets
  

Tangible assets
 4 
8,963
12,458

  
8,963
12,458

Current assets
  

Debtors
 5 
243,309
163,889

  
243,309
163,889

Creditors: amounts falling due within one year
 6 
(123,188)
(85,475)

Net current assets
  
 
 
120,121
 
 
78,414

Total assets less current liabilities
  
129,084
90,872

  

Net assets
  
129,084
90,872


Capital and reserves
  

Share capital
  
128
128

Profit and loss account
  
128,956
90,744

  
129,084
90,872


The company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 income statement 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: 




................................................
D Vaisberg
Director

Date: 9 July 2024

The notes on pages 2 to 7 form part of these financial statements.
Page 1

 
PunchOut2Go Limited
 
 

Notes to the financial statements
For the year ended 31 December 2023

1.


General information

The company is a private company limited by shares and incorporated in England and Wales. The registered office is C/O Buzzacott LLP, 130 Wood Street, London, EC2V 6DL and the registered number is 12612849. 

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 Republic of Ireland' ('FRS 102') and the Companies Act 2006.

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with 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

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is USD.

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 Income statement within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 2

 
PunchOut2Go Limited
 

Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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

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 Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

 
2.5

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.

 
2.6

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.

Page 3

 
PunchOut2Go Limited
 

Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is provided on the following basis:

Computer equipment
-
5 years straight line

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 statement of income and retained earnings.

 
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.

 
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.

 
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 and loans to related parties.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Employees
9
9

Page 4

 
PunchOut2Go Limited
 
 

Notes to the financial statements
For the year ended 31 December 2023

4.


Tangible fixed assets





Office equipment

$



Cost 


At 1 January 2023
14,917


Disposals
(773)



At 31 December 2023

14,144



Depreciation


At 1 January 2023
2,459


Charge for the year
2,983


Disposals
(261)



At 31 December 2023

5,181



Net book value



At 31 December 2023
8,963



At 31 December 2022
12,458

Page 5

 
PunchOut2Go Limited
 
 

Notes to the financial statements
For the year ended 31 December 2023

5.


Debtors

2023
2022
$
$


Amounts owed by group undertakings
233,348
160,102

Other debtors
9,961
3,787

243,309
163,889



6.


Creditors: Amounts falling due within one year

2023
2022
$
$

Corporation tax
16,647
6,324

Accruals and deferred income
106,541
79,151

123,188
85,475



7.


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 $51,223 (2022: $40,447). At 31 December 2023, the amount due to the fund was $nil (2022: $nil).


8.


Related party transactions

The company has taken advantage of the exemption available in Section 33.1A of FRS 102 whereby it has not
disclosed transactions with the immediate parent company or any wholly owned subsidiary undertakings of the
group headed by TradeCentric LLC.


9.


Controlling party

The immediate parent undertaking is TradeCentric LLC, a company incorporated in the United States of America, the registered office is 3317 Berkmar Dr, Charlottesville 22901.
The ultimate controlling party is Susquehanna Growth Equity Fund VI, LLLP, by virtue of their controlling interest in TradeCentric LLC.
The smallest group of undertakings for which consolidated group accounts, which include the company, have been
drawn up is headed by TradeCentric LLC.
Page 6

 
PunchOut2Go Limited
 
 

Notes to the financial statements
For the year ended 31 December 2023

10.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2023 was unqualified.

In their report, the auditor emphasised the following matter without qualifying their report:
The prior period financial statements were not subject to audit.

The audit report was signed on 10 July 2024 by Simon Wax (Senior statutory auditor) on behalf of Buzzacott LLP.


Page 7