Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falsetrue3Other telecommunications servicesfalsetrue2022-07-014 13454562 2022-07-01 2023-11-30 13454562 2021-07-01 2022-06-30 13454562 2023-11-30 13454562 2022-06-30 13454562 c:Director3 2022-07-01 2023-11-30 13454562 d:CurrentFinancialInstruments 2023-11-30 13454562 d:CurrentFinancialInstruments 2022-06-30 13454562 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 13454562 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 13454562 d:ShareCapital 2023-11-30 13454562 d:ShareCapital 2022-06-30 13454562 d:RetainedEarningsAccumulatedLosses 2023-11-30 13454562 d:RetainedEarningsAccumulatedLosses 2022-06-30 13454562 c:FRS102 2022-07-01 2023-11-30 13454562 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-11-30 13454562 c:FullAccounts 2022-07-01 2023-11-30 13454562 c:PrivateLimitedCompanyLtd 2022-07-01 2023-11-30 13454562 e:PoundSterling 2022-07-01 2023-11-30 iso4217:GBP xbrli:pure

Registered number: 13454562










SUBOPTIC FOUNDATION LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 NOVEMBER 2023

 
SUBOPTIC FOUNDATION LTD
REGISTERED NUMBER: 13454562

BALANCE SHEET
AS AT 30 NOVEMBER 2023

30 November
30 June
2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
1
1

Cash at bank and in hand
  
16,243
-

  
16,244
1

Creditors: amounts falling due within one year
 5 
(13,642)
(3,008)

Net current assets/(liabilities)
  
 
 
2,602
 
 
(3,007)

Total assets less current liabilities
  
2,602
(3,007)

  

Net assets/(liabilities)
  
2,602
(3,007)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
2,601
(3,008)

  
2,602
(3,007)


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 period 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 profit and loss account 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 Stowell
Director
Date: 22 August 2024

The notes on pages 2 to 4 form part of these financial statements.
Page 1

 
SUBOPTIC FOUNDATION LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023

1.


General information

Suboptic Foundation Ltd (13454562) is a private company limited by shares and is incorporated in England and Wales. The address of its registered office is 27 Old Gloucester Street, London, United Kingdom,WC1N 3AX.

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.

The following principal accounting policies have been applied:

 
2.2

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:
The amount of revenue can be measured reliably and that it is probable that the Company will receive the consideration due under the contract.

 
2.3

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.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.5

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.

 
2.6

Creditors

Short-term creditors are measured at the transaction price.

 
2.7

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.

Page 2

 
SUBOPTIC FOUNDATION LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)


2.7
Financial instruments (continued)

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

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.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument 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.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the period was 3 (2022 - 4).
Page 3

 
SUBOPTIC FOUNDATION LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023

3.Employees (continued)



4.


Debtors

30 November
30 June
2023
2022
£
£


Amounts owed by group undertakings
1
1



5.


Creditors: Amounts falling due within one year

30 November
30 June
2023
2022
£
£

Corporation tax
698
-

Other creditors
11,144
1,268

Accruals and deferred income
1,800
1,740

13,642
3,008



6.


Related party transactions

Included in other creditors is an interest free loan repayable on demand to the value of £11,144 (2022 - £1,268) due to a connected company. 
Also included within debtors is a loan of £1 (2022 - £1) to a parent company. This loan is provided interest free and repayable upon demand.

 
Page 4