Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29true2023-03-01falseNo description of principal activity22falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05718967 2023-03-01 2024-02-29 05718967 2022-03-01 2023-02-28 05718967 2024-02-29 05718967 2023-02-28 05718967 c:Director1 2023-03-01 2024-02-29 05718967 d:CurrentFinancialInstruments 2024-02-29 05718967 d:CurrentFinancialInstruments 2023-02-28 05718967 d:Non-currentFinancialInstruments 2024-02-29 05718967 d:Non-currentFinancialInstruments 2023-02-28 05718967 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 05718967 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 05718967 d:ShareCapital 2024-02-29 05718967 d:ShareCapital 2023-02-28 05718967 d:RetainedEarningsAccumulatedLosses 2024-02-29 05718967 d:RetainedEarningsAccumulatedLosses 2023-02-28 05718967 c:FRS102 2023-03-01 2024-02-29 05718967 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 05718967 c:AbridgedAccounts 2023-03-01 2024-02-29 05718967 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 05718967 2 2023-03-01 2024-02-29 05718967 6 2023-03-01 2024-02-29 05718967 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Registered number: 05718967









ASCENSIO SYSTEM LIMITED








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
ASCENSIO SYSTEM LIMITED
REGISTERED NUMBER: 05718967

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Investments
  
86,624
86,624

  
86,624
86,624

Current assets
  

Debtors
  
53,010
53,127

Cash at bank and in hand
  
35,716
47,100

  
88,726
100,227

Creditors: amounts falling due within one year
 7 
(354,397)
(365,051)

Net current liabilities
  
 
 
(265,671)
 
 
(264,824)

Total assets less current liabilities
  
(179,047)
(178,200)

Net liabilities
  
(179,047)
(178,200)


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
(180,047)
(179,200)

Shareholders' funds
  
(179,047)
(178,200)


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 20 June 2024.



Page 1

 
ASCENSIO SYSTEM LIMITED
REGISTERED NUMBER: 05718967
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024


Aleksei Miasnikov
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
ASCENSIO SYSTEM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

The ASCENSIO SYSTEM LIMITED (the "Company'') was incorporated in United Kingdom on 22
February 2006 as a private company limited by shares.
lts registered office is at Suite 12, 2nd Floor, Queens House, 180 Tottenham Court Road, London, United
Kingdom, W1T 7PD.
The principal activity of the company is software publishing.

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 members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
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.

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 profit or loss within 'other operating income'.

Page 3

 
ASCENSIO SYSTEM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

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:

 
2.5

Interest income

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

 
2.6

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.

 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

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.

Page 4

 
ASCENSIO SYSTEM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Fixed asset investments








Investments in subsidiary companies

£



Cost or valuation


At 1 March 2023
86,624



At 29 February 2024
86,624





5.


Debtors

29 February
28 February
2024
2023
£
£

Due after more than one year

Other debtors
47,876
47,993

47,876
47,993

Due within one year

Other debtors
5,134
5,134

53,010
53,127



6.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
35,716
47,100

35,716
47,100


Page 5

 
ASCENSIO SYSTEM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

7.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Trade creditors
354,397
365,051

354,397
365,051


Page 6