Caseware UK (AP4) 2023.0.135 2023.0.135 22022-09-01falseThe principal activity of the company is software development and property development.2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04053947 2022-09-01 2023-08-31 04053947 2021-09-01 2022-08-31 04053947 2023-08-31 04053947 2022-08-31 04053947 c:Director1 2022-09-01 2023-08-31 04053947 d:OfficeEquipment 2022-09-01 2023-08-31 04053947 d:OfficeEquipment 2023-08-31 04053947 d:OfficeEquipment 2022-08-31 04053947 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 04053947 d:Goodwill 2022-09-01 2023-08-31 04053947 d:Goodwill 2023-08-31 04053947 d:Goodwill 2022-08-31 04053947 d:CurrentFinancialInstruments 2023-08-31 04053947 d:CurrentFinancialInstruments 2022-08-31 04053947 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 04053947 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 04053947 d:ShareCapital 2023-08-31 04053947 d:ShareCapital 2022-08-31 04053947 d:SharePremium 2023-08-31 04053947 d:SharePremium 2022-08-31 04053947 d:CapitalRedemptionReserve 2023-08-31 04053947 d:CapitalRedemptionReserve 2022-08-31 04053947 d:RetainedEarningsAccumulatedLosses 2023-08-31 04053947 d:RetainedEarningsAccumulatedLosses 2022-08-31 04053947 c:OrdinaryShareClass1 2022-09-01 2023-08-31 04053947 c:OrdinaryShareClass1 2023-08-31 04053947 c:OrdinaryShareClass1 2022-08-31 04053947 c:FRS102 2022-09-01 2023-08-31 04053947 c:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 04053947 c:FullAccounts 2022-09-01 2023-08-31 04053947 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 04053947 e:PoundSterling 2022-09-01 2023-08-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 04053947










Essentially Different Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 August 2023

 
Essentially Different Limited
 
  
Chartered Accountants' Report to the Director on the preparation of the Unaudited Statutory Financial Statements of Essentially Different Limited for the Year Ended 31 August 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Essentially Different Limited for the year ended 31 August 2023 which comprise  the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of Essentially Different Limited in accordance with the terms of our engagement letter dated 18 July 2024Our work has been undertaken solely to prepare for your approval the financial statements of Essentially Different Limited and state those matters that we have agreed to state to the director of Essentially Different Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Essentially Different Limited and its director for our work or for this report. 

It is your duty to ensure that Essentially Different Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Essentially Different Limited. You consider that Essentially Different Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Essentially Different Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
Springfield House
Springfield Road
Horsham
West Sussex
RH12 2RG
15 August 2024
Page 1

 
Essentially Different Limited
Registered number: 04053947

Balance Sheet
As at 31 August 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
-

Tangible assets
 5 
-
199

  
-
199

Current assets
  

Stocks
  
475,000
475,000

Debtors: amounts falling due within one year
 6 
2,610
2,610

Cash at bank and in hand
  
13
72

  
477,623
477,682

Creditors: amounts falling due within one year
 7 
(61,281)
(31,784)

Net current assets
  
 
 
416,342
 
 
445,898

Total assets less current liabilities
  
416,342
446,097

  

Net assets
  
416,342
446,097


Capital and reserves
  

Called up share capital 
 8 
1,098
1,098

Share premium account
  
179,969
179,969

Capital redemption reserve
  
69
69

Profit and loss account
  
235,206
264,961

  
416,342
446,097


Page 2

 
Essentially Different Limited
Registered number: 04053947

Balance Sheet (continued)
As at 31 August 2023

The director considers 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 director acknowledges his 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 by: 



................................................
J Connelly
Director
Date: 15 August 2024

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
Essentially Different Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 August 2023

1.


General information

The company is a private company limited by share capital incorporated in England, within the United Kingdom. The company’s registered address is: Springfield House, Springfield Road, Horsham, West Sussex, RH12 2RG.

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.

These financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £1.

The following principal accounting policies have been applied:

 
2.2

Intangible assets

Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Comprehensive Income over its useful economic life.
 
Page 4

 
Essentially Different Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 August 2023

2.Accounting policies (continued)


2.2
Intangible assets (continued)

Other 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.

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.

 The estimated useful lives range as follows:

Goodwill
-
10
years straight line

  
2.3

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.4

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%
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 profit or loss.

 
2.5

Work in progress

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks.  Net realisable value is based on selling price less anticipated costs to completion and selling costs.  Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. 

Page 5

 
Essentially Different Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 August 2023

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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.

 
2.8

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.

The company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

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.

 
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

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 6

 
Essentially Different Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 August 2023

3.


Employees

2023
£

Wages and salaries
18,200

18,200


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


4.


Intangible assets




Goodwill

£



Cost


At 1 September 2022
100,000



At 31 August 2023

100,000



Amortisation


At 1 September 2022
100,000



At 31 August 2023

100,000



Net book value



At 31 August 2023
-



At 31 August 2022
-



Page 7

 
Essentially Different Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 August 2023

5.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 September 2022
2,392



At 31 August 2023

2,392



Depreciation


At 1 September 2022
2,193


Charge for the year on owned assets
199



At 31 August 2023

2,392



Net book value



At 31 August 2023
-



At 31 August 2022
199


6.


Debtors

2023
2022
£
£


Other debtors
2,610
2,610



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
1,160
1,980

Other creditors
57,961
27,890

Accruals and deferred income
2,160
1,914

61,281
31,784


Page 8

 
Essentially Different Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 August 2023

8.


Share capital

2023
2022
£
£
Authorised, allotted, called up and fully paid



109,784 (2022 - 109,784) Ordinary shares of £0.01 each
1,098
1,098



Page 9