Caseware UK (AP4) 2023.0.135 2023.0.135 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-01-01falseNo description of principal activity75truetrue 12231761 2023-01-01 2023-12-31 12231761 2022-01-01 2022-12-31 12231761 2023-12-31 12231761 2022-12-31 12231761 c:Director2 2023-01-01 2023-12-31 12231761 d:FurnitureFittings 2023-01-01 2023-12-31 12231761 d:FurnitureFittings 2023-12-31 12231761 d:FurnitureFittings 2022-12-31 12231761 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12231761 d:OfficeEquipment 2023-01-01 2023-12-31 12231761 d:OfficeEquipment 2023-12-31 12231761 d:OfficeEquipment 2022-12-31 12231761 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12231761 d:ComputerEquipment 2023-01-01 2023-12-31 12231761 d:ComputerEquipment 2023-12-31 12231761 d:ComputerEquipment 2022-12-31 12231761 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12231761 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12231761 d:CurrentFinancialInstruments 2023-12-31 12231761 d:CurrentFinancialInstruments 2022-12-31 12231761 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 12231761 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 12231761 d:ShareCapital 2023-12-31 12231761 d:ShareCapital 2022-12-31 12231761 d:RetainedEarningsAccumulatedLosses 2023-12-31 12231761 d:RetainedEarningsAccumulatedLosses 2022-12-31 12231761 c:FRS102 2023-01-01 2023-12-31 12231761 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 12231761 c:FullAccounts 2023-01-01 2023-12-31 12231761 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12231761 d:WithinOneYear 2023-12-31 12231761 d:WithinOneYear 2022-12-31 12231761 d:BetweenOneFiveYears 2023-12-31 12231761 d:BetweenOneFiveYears 2022-12-31 12231761 2 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure


















WALTLabs.io EMEA Limited























Unaudited

Financial statements



For the year ended 31 December 2023



Registered number: 12231761

 
WALTLabs.io EMEA Limited - Registered number:12231761


Statement of financial position
As at 31 December 2023

2023
2023
2022
2022
Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
11,891
6,260

  
11,891
6,260

Current assets
  

Debtors: amounts falling due within one year
 5 
855,384
154,076

Cash at bank and in hand
  
47,133
700

  
902,517
154,776

Creditors: amounts falling due within one year
 6 
(432,379)
(44,308)

Net current assets
  
 
 
470,138
 
 
110,468

Total assets less current liabilities
  
482,029
116,728

  

Net assets
  
482,029
116,728


Capital and reserves
  

Share capital
  
1,000
1,000

Profit and loss account
  
481,029
115,728

  
482,029
116,728


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.
Page 1

 
WALTLabs.io EMEA Limited - Registered number:12231761


Statement of financial position (continued)
As at 31 December 2023


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 income and retained earnings 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: 




S Smith
Director

Date: 28 August 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
WALTLabs.io EMEA 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 and incorporated in England and Wales. Its registered office is C/O Buzzacott LLP, 130 Wood street, London, EC2V 6DL  and principal place of business is Suites 401B-C, The Nexus Building, Broadway, Letchworth Garden City, Hertfordshire, SG6 3TA . The company registration number is 12231761.

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 Republic of Ireland' ('FRS102') 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.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover 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 turnover 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 turnover 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.

 
2.3

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 3

 
WALTLabs.io EMEA Limited
 

Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is provided on the following basis:

Fixtures and fittings
-
3 years staright line
Office equipment
-
3 years straight line
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 disposal are determined by comparing the proceeds with the carrying amount and are
recognised in the Statement of income and retained earnings.

 
2.4

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.

 
2.5

Cash

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

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.

 
2.7

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.

 
2.8

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.

Page 4

 
WALTLabs.io EMEA Limited
 

Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.9

Interest income

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

 
2.10

Operating leases: the company as lessee

Rentals paid under operating leases are charged to statement of income and retained earnings on a straight line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line
basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.11

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 statement of income and retained earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

 
2.12

Taxation

Tax is recognised in the statement of income and retained earnings 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 reporting date in the countries where the company operates and generates income.


3.


Employees

The average monthly number of employees, including the directors, during the year was 7 (2022 -5).

Page 5

 
WALTLabs.io EMEA Limited
 
 

Notes to the financial statements
For the year ended 31 December 2023

4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£



Cost 


At 1 January 2023
-
500
11,743
12,243


Additions
8,482
-
1,923
10,405



At 31 December 2023

8,482
500
13,666
22,648



Depreciation


At 1 January 2023
-
275
5,708
5,983


Charge for the year
471
165
4,138
4,774



At 31 December 2023

471
440
9,846
10,757



Net book value



At 31 December 2023
8,011
60
3,820
11,891



At 31 December 2022
-
225
6,035
6,260


5.


Debtors

2023
2022
£
£


Trade debtors
143,749
10,787

Amounts owed by group undertakings
691,602
127,545

Other debtors
9,525
15,744

Prepayments
10,508
-

855,384
154,076


Page 6

 
WALTLabs.io EMEA Limited
 
 

Notes to the financial statements
For the year ended 31 December 2023

6.


Creditors: amounts falling due within one year

2023
2022
£
£

Trade creditors
236,587
11,546

Corporation tax
115,971
11,099

Other taxation and social security
50,549
13,537

Other creditors
7,872
2,301

Accruals
21,400
5,825

432,379
44,308



7.


Pension commitments

The company operates a defined contribution 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 £7,930 (2022: £4,439). Contributions totalling to £1,538 (2022: £1,138) were payable to the fund at 31 December 2023.


8.


Commitments under operating leases

At 31 December 2023 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
34,042
18,000

Later than 1 year and not later than 5 years
208
-

34,250
18,000


9.


Controlling party

The ultimate controlling party of WALTLabs.io EMEA Limited is Root Level Technology LLC, a company incorporated in the USA and the director Eric Sengbusch has significant control over the company.


Page 7