Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31falsetrue2023-01-01falseOther information technology service activities44The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 14143636 2023-01-01 2023-12-31 14143636 2022-05-31 2022-12-31 14143636 2023-12-31 14143636 2022-12-31 14143636 1 2023-01-01 2023-12-31 14143636 d:Director1 2023-01-01 2023-12-31 14143636 c:OfficeEquipment 2023-01-01 2023-12-31 14143636 c:OfficeEquipment 2023-12-31 14143636 c:OfficeEquipment 2022-12-31 14143636 c:OfficeEquipment c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 14143636 c:ComputerEquipment 2023-01-01 2023-12-31 14143636 c:ComputerEquipment 2023-12-31 14143636 c:ComputerEquipment 2022-12-31 14143636 c:ComputerEquipment c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 14143636 c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 14143636 c:CurrentFinancialInstruments 2023-12-31 14143636 c:CurrentFinancialInstruments 2022-12-31 14143636 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 14143636 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 14143636 c:ShareCapital 2023-01-01 2023-12-31 14143636 c:ShareCapital 2023-12-31 14143636 c:ShareCapital 2022-05-31 2022-12-31 14143636 c:ShareCapital 2022-12-31 14143636 c:SharePremium 2023-01-01 2023-12-31 14143636 c:SharePremium 2023-12-31 14143636 c:SharePremium 2022-05-31 2022-12-31 14143636 c:SharePremium 2022-12-31 14143636 c:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 14143636 c:RetainedEarningsAccumulatedLosses 2023-12-31 14143636 c:RetainedEarningsAccumulatedLosses 2022-05-31 2022-12-31 14143636 c:RetainedEarningsAccumulatedLosses 2022-12-31 14143636 d:OrdinaryShareClass1 2023-01-01 2023-12-31 14143636 d:OrdinaryShareClass1 2023-12-31 14143636 d:OrdinaryShareClass1 2022-12-31 14143636 d:OrdinaryShareClass2 2023-01-01 2023-12-31 14143636 d:OrdinaryShareClass2 2023-12-31 14143636 d:FRS102 2023-01-01 2023-12-31 14143636 d:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 14143636 d:FullAccounts 2023-01-01 2023-12-31 14143636 d:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 14143636 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 14143636










FRACTILE LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
FRACTILE LTD
REGISTERED NUMBER: 14143636

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
  
6,379
-

  
6,379
-

Current assets
  

Debtors: amounts falling due within one year
 5 
126,192
30

Cash at bank and in hand
  
1,435,062
-

  
1,561,254
30

Creditors: amounts falling due within one year
 7 
(33,083)
(52,480)

Net current assets/(liabilities)
  
 
 
1,528,171
 
 
(52,450)

Total assets less current liabilities
  
1,534,550
(52,450)

  

Net assets/(liabilities)
  
1,534,550
(52,450)


Capital and reserves
  

Called up share capital 
 8 
3
1

Share premium account
  
1,999,999
-

Profit and loss account
  
(465,452)
(52,451)

  
1,534,550
(52,450)


Page 1

 
FRACTILE LTD
REGISTERED NUMBER: 14143636

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 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 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: 




W Goodwin
Director

Date: 19 August 2024

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

Page 2

 
FRACTILE LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£



Loss for the period
-
-
(52,451)
(52,451)

Shares issued during the period
1
-
-
1



At 1 January 2023
1
-
(52,451)
(52,450)



Loss for the year
-
-
(413,001)
(413,001)

Shares issued during the year
2
1,999,999
-
2,000,001


At 31 December 2023
3
1,999,999
(465,452)
1,534,550


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

Page 3

 
FRACTILE LTD
 

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

1.


General information

Fractile Limited is a private company limited by share capital and incorporated in England and Wales.
The registered office is 2 Communications Road, Greenham Business Park, Newbury, Berkshire, England, RG19 6AB.

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 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 judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

In June 2024 the Company received Series A investment of £11.5 million. 

 
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 4

 
FRACTILE LTD
 

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

2.Accounting policies (continued)

 
2.4

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.5

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.

 
2.6

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

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
-
5 Years
Computer equipment
-
3 Years

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

 
FRACTILE LTD
 

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

2.Accounting policies (continued)

 
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.


3.


Employees

Year ended
31 December
Period ended
31 December
2023
2022
£
£

Wages and salaries
342,791
25,962

Social security costs
34,538
-

Cost of defined contribution scheme
4,051
-

381,380
25,962


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


      Year ended
     31 December
     Period ended
      31 December
        2023
        2022
            No.
            No.







Employees
4
4

Page 6

 
FRACTILE LTD
 

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

4.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


Additions
75
7,298
7,373



At 31 December 2023

75
7,298
7,373



Depreciation


Charge for the year on owned assets
9
985
994



At 31 December 2023

9
985
994



Net book value



At 31 December 2023
66
6,313
6,379



At 31 December 2022
-
-
-

Page 7

 
FRACTILE LTD
 

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

5.


Debtors

2023
2022
£
£


Other debtors
5,822
30

Prepayments and accrued income
7,994
-

Tax recoverable
112,376
-

126,192
30



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,435,062
-

1,435,062
-



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
2,856
3,818

Other creditors
1,174
-

Accruals and deferred income
29,053
48,662

33,083
52,480



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



324,449 (2022 - 200,000) Ordinary shares of £0.000005 each
2
1
173,913 (2022 - nil) Preferred shares of £0.000005 each
1
-

3

1


During the period 124,449 Ordinary shares of £0.000005 were issued and paid at par and 173,913 Preferred shares of £0.000005 were issued and paid at par.

Page 8

 
FRACTILE LTD
 

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

9.


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 £4,890. Contributions totalling £1,174 were payable to the fund at the balance sheet date and are included in creditors.


10.


Post balance sheet events

In June 2024 the Company received Series A investment of £11.5 million. 


Page 9