Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-302022-12-01falseNo description of principal activity6565truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04801836 2022-12-01 2023-11-30 04801836 2021-12-01 2022-11-30 04801836 2023-11-30 04801836 2022-11-30 04801836 c:Director5 2022-12-01 2023-11-30 04801836 d:Buildings d:ShortLeaseholdAssets 2022-12-01 2023-11-30 04801836 d:Buildings d:ShortLeaseholdAssets 2023-11-30 04801836 d:Buildings d:ShortLeaseholdAssets 2022-11-30 04801836 d:PlantMachinery 2022-12-01 2023-11-30 04801836 d:PlantMachinery 2023-11-30 04801836 d:PlantMachinery 2022-11-30 04801836 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 04801836 d:ComputerEquipment 2022-12-01 2023-11-30 04801836 d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 04801836 d:CurrentFinancialInstruments 2023-11-30 04801836 d:CurrentFinancialInstruments 2022-11-30 04801836 d:CurrentFinancialInstruments 4 2023-11-30 04801836 d:CurrentFinancialInstruments 4 2022-11-30 04801836 d:CurrentFinancialInstruments 5 2023-11-30 04801836 d:CurrentFinancialInstruments 5 2022-11-30 04801836 d:Non-currentFinancialInstruments 2023-11-30 04801836 d:Non-currentFinancialInstruments 2022-11-30 04801836 d:MergerReserve 2023-11-30 04801836 d:MergerReserve 2022-11-30 04801836 d:RetainedEarningsAccumulatedLosses 2023-11-30 04801836 d:RetainedEarningsAccumulatedLosses 2022-11-30 04801836 c:OrdinaryShareClass1 2022-12-01 2023-11-30 04801836 c:OrdinaryShareClass1 2023-11-30 04801836 c:OrdinaryShareClass1 2022-11-30 04801836 c:FRS102 2022-12-01 2023-11-30 04801836 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 04801836 c:FullAccounts 2022-12-01 2023-11-30 04801836 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 04801836 f:PoundSterling 2022-12-01 2023-11-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 04801836










FISCAL TECHNOLOGIES LTD.








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
FISCAL TECHNOLOGIES LTD.
REGISTERED NUMBER: 04801836

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
124,487
124,460

  
124,487
124,460

Current assets
  

Debtors
 5 
1,824,827
1,255,721

Cash at bank and in hand
  
2,201,868
2,496,108

  
4,026,695
3,751,829

  

Total assets
  
4,151,182
3,876,289


Equity and liabilities
  

Current liabilities
  

Creditors: amounts falling due within one
year
 6 
2,791,652
2,654,795

Deferred income falling due within one year
 6 
2,976,538
2,370,361

Non-current liabilities
  

Deferred income falling due after more than
one year
 7 
227,548
513,942

Capital and reserves
  

Share capital
  
3,300,001
3,300,001

Profit and loss account
  
(5,144,557)
(4,962,810)

  
4,151,182
3,876,289


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.

Page 1

 
FISCAL TECHNOLOGIES LTD.
REGISTERED NUMBER: 04801836

BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




F M Lawrence
Director

Date: 20 August 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
FISCAL TECHNOLOGIES LTD.
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

Fiscal Technologies Ltd. is a limited liability company incorporated in England and Wales. The address of its registered office is 448 Basingstoke Road, Reading, Berkshire, RG2 0LP.

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 following principal accounting policies have been applied:

 
2.2

Going concern

The group has substantial cash reserves and, having reviewed recent trading results, the cash flow forecasts and the funding in place, the directors are confident that the group can and will continue to operate on a going concern basis for the foreseeable future. 

 
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.

 
2.4

Revenue

Revenue, which excludes value added tax and similar based taxes, represents subscription revenue and professional services.
 
Subscription revenue comprises recurring annual fees from subscribers to the group’s cloud-based software products.  Subscribers are typically billed annually, although some customers have historically paid multiple years in advance. Unearned revenue received at the balance sheet date is recognised in the balance sheet as deferred income and is included within current and non-current liabilities.  
 
Subscription revenue is recognised over time as performance obligations under contracts with customers are met.  Performance obligations for subscriptions to the group’s cloud-based software consist of the provisioning of the software and related support services over the term of the contract.
 
Revenue from professional services is recognised over the period that the services are provided. 

Page 3

 
FISCAL TECHNOLOGIES LTD.
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
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

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.

 
2.8

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:

S/Term Leasehold property
-
Over the term of the lease
Fixtures, fittings & equipment
-
20-50% straight line
Computer equipment
-
33.33% 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.

 
2.9

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.

Page 4

 
FISCAL TECHNOLOGIES LTD.
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.10

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.

 
2.11

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.

 
2.12

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, loans to related parties and investments in ordinary shares. 


3.


Employees

The average monthly number of employees, including directors, during the year was 65 (2022 - 65).

Page 5

 
FISCAL TECHNOLOGIES LTD.
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

4.


Tangible fixed assets





S/Term Leasehold Property
Equipment
Total

£
£
£



Cost or valuation


At 1 December 2022
41,976
404,588
446,564


Additions
-
59,230
59,230


Disposals
-
(4,385)
(4,385)



At 30 November 2023

41,976
459,433
501,409



Depreciation


At 1 December 2022
18,688
303,416
322,104


Charge for the year
7,553
51,650
59,203


Disposals
-
(4,385)
(4,385)



At 30 November 2023

26,241
350,681
376,922



Net book value



At 30 November 2023
15,735
108,752
124,487



At 30 November 2022
23,288
101,172
124,460

Page 6

 
FISCAL TECHNOLOGIES LTD.
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

5.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors
183,269
180,563

183,269
180,563

Due within one year

Trade debtors
1,235,262
601,688

Amounts owed by group undertakings
202,910
295,382

Other debtors
60,496
36,752

Prepayments and accrued income
142,890
141,336

1,824,827
1,255,721



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
82,648
21,695

Amounts owed to group undertakings
1,895,164
1,985,712

Other taxation and social security
369,731
170,641

Other creditors
44,039
26,510

Accruals
400,070
450,237

Deferred income
2,976,538
2,370,361

5,768,190
5,025,156



7.


Creditors: amounts falling due after more than one year

2023
2022
£
£

Deferred income
227,548
513,942



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



3,300,001 (2022 - 3,300,001) Ordinary shares of £1.00 each
3,300,001
3,300,001


Page 7

 
FISCAL TECHNOLOGIES LTD.
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 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 charge represents contributions payable by the Company to the fund and amounted to £122,862 (2022: £59,345). Contributions totalling £29,607 (2022: £17,290) were payable to the fund at the balance sheet date and are included in creditors.


10.


Related party transactions

The Company is exempt from disclosing related party transactions with other 100% owned members of the Group headed by Fiscaltec Group Limited by virtue of FRS 102 section 33.1A.
At the year end, included in other debtors is a balance of £183,269 (2022: £180,563) owed by the directors of the company.  


11.


Parent company

The immediate and ultimate parent company is Fiscaltec Group Limited


Page 8