Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false142023-01-01provider of a blockchain-based network solution12truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11748734 2023-01-01 2023-12-31 11748734 2022-01-01 2022-12-31 11748734 2023-12-31 11748734 2022-12-31 11748734 c:Director2 2023-01-01 2023-12-31 11748734 d:ComputerEquipment 2023-01-01 2023-12-31 11748734 d:ComputerEquipment 2023-12-31 11748734 d:ComputerEquipment 2022-12-31 11748734 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11748734 d:PatentsTrademarksLicencesConcessionsSimilar 2023-01-01 2023-12-31 11748734 d:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 11748734 d:PatentsTrademarksLicencesConcessionsSimilar 2022-12-31 11748734 d:CurrentFinancialInstruments 2023-12-31 11748734 d:CurrentFinancialInstruments 2022-12-31 11748734 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11748734 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11748734 d:ShareCapital 2023-12-31 11748734 d:ShareCapital 2022-12-31 11748734 d:OtherMiscellaneousReserve 2023-12-31 11748734 d:OtherMiscellaneousReserve 2022-12-31 11748734 d:RetainedEarningsAccumulatedLosses 2023-12-31 11748734 d:RetainedEarningsAccumulatedLosses 2022-12-31 11748734 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 11748734 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 11748734 c:OrdinaryShareClass1 2023-01-01 2023-12-31 11748734 c:OrdinaryShareClass1 2023-12-31 11748734 c:OrdinaryShareClass1 2022-12-31 11748734 c:FRS102 2023-01-01 2023-12-31 11748734 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11748734 c:FullAccounts 2023-01-01 2023-12-31 11748734 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11748734 d:PatentsTrademarksLicencesConcessionsSimilar d:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 11748734 2 2023-01-01 2023-12-31 11748734 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2023-01-01 2023-12-31 11748734 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11748734









MINIMA GLOBAL LIMITED








FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
MINIMA GLOBAL LIMITED
REGISTERED NUMBER: 11748734

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 5 
7,869
239,039

Tangible assets
 6 
13,812
21,259

  
21,681
260,298

Current assets
  

Debtors: amounts falling due within one year
 7 
526,847
375,773

Bank and cash balances
  
15,824
99,922

  
542,671
475,695

Creditors: amounts falling due within one year
 8 
(125,241)
(192,236)

Net current assets
  
 
 
417,430
 
 
283,459

Total assets less current liabilities
  
439,111
543,757

Provisions for liabilities
  

Deferred tax
 10 
(4,736)
(4,736)

  
 
 
(4,736)
 
 
(4,736)

Net assets
  
434,375
539,021


Capital and reserves
  

Called up share capital 
 11 
100
100

Other reserves
  
25,563
24,946

Profit and loss account
  
408,712
513,975

  
434,375
539,021


Page 1

 
MINIMA GLOBAL LIMITED
REGISTERED NUMBER: 11748734
    
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 13 August 2024.




Hugo James Feiler
Director

Page 2

 
MINIMA GLOBAL 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 incorporated in England and Wales. The address of its registered office is: 15 Westferry Circus, London, England, E14 4HD, United Kingdom. The financial statements are prepared in GBP ("£") which is the functional and presentational currency of the primary economic environment in which the company operates. 

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Going concern

The Directors are satisfied that, at the time of approving the financial statements, there is a reasonable expectation that the company has adequate resources to continue in operational existence for at least 12 months. For this reason, the Directors continue to adopt the going concern basis in preparing the financial statements. 

 
2.3

Turnover

Turnover 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. 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 revenue 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 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

Interest income

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

Page 3

 
MINIMA GLOBAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

  
2.5

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in foreign currency are not translated.  

 
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.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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

Intangible assets

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Intangible assets acquired on business combinations are recognised separately from goodwill at the
acquisition date where it is probable that the expected future economic benefits that are attributable
to the asset will flow to the entity and the fair value of the asset can be measured reliably; the
intangible asset arises from contractual or other legal rights; and the intangible asset is separable
from the entity

 
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.

Page 4

 
MINIMA GLOBAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

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 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.

 
2.10

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.

 
2.11

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

Share capital

Ordinary shares are classified as equity.

Page 5

 
MINIMA GLOBAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.15

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
 
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

Page 6

 
MINIMA GLOBAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.16

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 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.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Intangible assets
Intangible assets are carried at fair value less cost to sell, which requires estimation as to the fair value of the intangible asset. Reference to publicly available market data is used to determine the fair value of each class of intangible asset.


4.


Employees

The average monthly number of employees, including directors, during the year was 12 (2022 - 14).

Page 7

 
MINIMA GLOBAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Intangible assets





£



Cost


At 1 January 2023
239,079


Additions
166,781


Disposals
(398,003)


Revaluation surplus
617



At 31 December 2023

8,474



Amortisation


At 1 January 2023
40


Charge for the year on owned assets
1,516


On disposals
(797)


Impairment charge
349


On revalued assets
(503)



At 31 December 2023

605



Net book value



At 31 December 2023
7,869



At 31 December 2022
239,039



Page 8

 
MINIMA GLOBAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 January 2023
29,497


Additions
7,010


Disposals
(5,367)



At 31 December 2023

31,140



Depreciation


At 1 January 2023
8,238


Charge for the year on owned assets
10,934


Disposals
(1,844)



At 31 December 2023

17,328



Net book value



At 31 December 2023
13,812



At 31 December 2022
21,259


7.


Trade and other receivables

2023
2022
£
£


Amounts owed by group undertakings
432,447
323,520

Other debtors
4,923
21,430

Prepayments and accrued income
3,384
15,798

Tax recoverable
86,093
15,025

526,847
375,773


The Company was owed £432,447 by its immediate parent (2022: £323,520). The unsecured amounts owed by Group undertakings are interest free, unsecured, repayable on demand and with no fixed repayment date.

Page 9

 
MINIMA GLOBAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Trade and other payables

2023
2022
£
£

Trade creditors
32,664
58,040

Other taxation and social security
37,820
44,979

Accruals and deferred income
54,757
89,217

125,241
192,236



9.


Related party transactions

At the year end, the company was owed £432,447 from its immediate parent (2022 £323,520). This loan is interest free and repayable on demand.


10.


Deferred taxation




2023


£






At beginning of year
(4,736)



At end of year
(4,736)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
4,736
4,736

4,736
4,736


11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100


Page 10

 
MINIMA GLOBAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

12.


Controlling party

The Company's immediate parent is Minima AG, incorporated in Switzerland.

Page 11