Caseware UK (AP4) 2022.0.179 2022.0.179 2023-11-302023-11-302022-12-01falseNo description of principal activity00truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13735061 2022-12-01 2023-11-30 13735061 2021-11-10 2022-11-30 13735061 2023-11-30 13735061 2022-11-30 13735061 c:Director1 2022-12-01 2023-11-30 13735061 d:CurrentFinancialInstruments 2023-11-30 13735061 d:CurrentFinancialInstruments 2022-11-30 13735061 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 13735061 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 13735061 d:ShareCapital 2022-12-01 2023-11-30 13735061 d:ShareCapital 2023-11-30 13735061 d:ShareCapital 2021-11-10 2022-11-30 13735061 d:ShareCapital 2022-11-30 13735061 d:RetainedEarningsAccumulatedLosses 2022-12-01 2023-11-30 13735061 d:RetainedEarningsAccumulatedLosses 2023-11-30 13735061 d:RetainedEarningsAccumulatedLosses 2021-11-10 2022-11-30 13735061 d:RetainedEarningsAccumulatedLosses 2022-11-30 13735061 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-11-30 13735061 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-11-30 13735061 c:FRS102 2022-12-01 2023-11-30 13735061 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 13735061 c:FullAccounts 2022-12-01 2023-11-30 13735061 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure

Registered number: 13735061









DEFIANT SYSTEMS LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
DEFIANT SYSTEMS LTD
REGISTERED NUMBER: 13735061

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
8,931
8,402

Cash at bank and in hand
 5 
23
22

  
8,954
8,424

Creditors: amounts falling due within one year
  
(845)
(495)

Net current assets
  
 
 
8,109
 
 
7,929

Total assets less current liabilities
  
8,109
7,929

  

Net assets
  
8,109
7,929


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
8,108
7,928

  
8,109
7,929


The director considers 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 director acknowledges his 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 on 29 August 2024.




Andrew Ingpen
Director

The notes on pages 5 to 8 form part of these financial statements.
Page 1

 
DEFIANT SYSTEMS LTD
REGISTERED NUMBER: 13735061
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023


Page 2

 
DEFIANT SYSTEMS LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 December 2022
1
7,928
7,929


Comprehensive income for the year

Profit for the year

-
180
180


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
180
180


Total transactions with owners
-
-
-


At 30 November 2023
1
8,108
8,109


The notes on pages 5 to 8 form part of these financial statements.

Page 3

 
DEFIANT SYSTEMS LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2022


Called up share capital
Profit and loss account
Total equity

£
£
£


Comprehensive income for the period

Profit for the period

-
7,928
7,928


Other comprehensive income for the period
-
-
-


Total comprehensive income for the period
-
7,928
7,928

Shares issued during the period
1
-
1


Total transactions with owners
1
-
1


At 30 November 2022
1
7,928
7,929


The notes on pages 5 to 8 form part of these financial statements.

Page 4

 
DEFIANT SYSTEMS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

Defiant Systems Ltd, a private company limited by shares, is incorporated and domiciled in England and Wales and has its registered office and principal place of business at 16 Gap Way, Reading, Oxfordshire, RG8 0RU.

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

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue 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 revenue 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.

Page 5

 
DEFIANT SYSTEMS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
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. 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 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.

 
2.6

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.

 
2.7

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.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Investments in non-derivative instruments that are equity to the issuer are measured:
at fair value with changes recognised in the Statement of comprehensive income if the shares are publicly traded or their fair value can otherwise be measured reliably;
at cost less impairment for all other investments.

Page 6

 
DEFIANT SYSTEMS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)


2.7
Financial instruments (continued)

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange derivatives.


3.


Employees

The Company has no employees other than the directors, who did not receive any remuneration (2022 - £NIL).


4.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
8,930
8,401

Called up share capital not paid
1
1

8,931
8,402


Page 7

 
DEFIANT SYSTEMS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
22
22

22
22



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Accruals and deferred income
845
495

845
495



7.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
22
22




Financial assets measured at fair value through profit or loss comprise...


8.


Related party transactions

During the year the company recevied payments totalling £1,000 from Cybercom Ltd, a company in which Mr A Ingpen is both a director and shareholder. Interest has been charged at 5% per annum. At the balance sheet date the intercompany balance owed to Defiant Systems Ltd is £9,723 (2022: £10,260).

 
Page 8