Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-31trueNo description of principal activity2022-09-01false22falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 05904024 2022-09-01 2023-08-31 05904024 2021-09-01 2022-08-31 05904024 2023-08-31 05904024 2022-08-31 05904024 c:Director2 2022-09-01 2023-08-31 05904024 d:CurrentFinancialInstruments 2023-08-31 05904024 d:CurrentFinancialInstruments 2022-08-31 05904024 d:Non-currentFinancialInstruments 2023-08-31 05904024 d:Non-currentFinancialInstruments 2022-08-31 05904024 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 05904024 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 05904024 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 05904024 d:Non-currentFinancialInstruments d:AfterOneYear 2022-08-31 05904024 d:ShareCapital 2023-08-31 05904024 d:ShareCapital 2022-08-31 05904024 d:RetainedEarningsAccumulatedLosses 2023-08-31 05904024 d:RetainedEarningsAccumulatedLosses 2022-08-31 05904024 c:FRS102 2022-09-01 2023-08-31 05904024 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 05904024 c:FullAccounts 2022-09-01 2023-08-31 05904024 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 05904024 e:PoundSterling 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure

Registered number: 05904024










STEANNE SOLUTIONS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2023

 
STEANNE SOLUTIONS LIMITED
REGISTERED NUMBER: 05904024

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
As restated 2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
857
94,101

  
857
94,101

Creditors: amounts falling due within one year
 7 
(21,826)
(35,126)

Net current (liabilities)/assets
  
 
 
(20,969)
 
 
58,975

Total assets less current liabilities
  
(20,969)
58,975

Creditors: amounts falling due after more than one year
 8 
(21,746)
(30,000)

  

Net (liabilities)/assets
  
(42,715)
28,975


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
(43,715)
27,975

  
(42,715)
28,975


Page 1

 
STEANNE SOLUTIONS LIMITED
REGISTERED NUMBER: 05904024
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 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 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: 




................................................
M B Kirkland
Director

Date: 30 August 2024

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

Page 2

 
STEANNE SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

Steanne Solutions Limited is a private company, limited by shares, which is registered in England and Wales, registration number 05904024. The registered office is Charnwood Building Holywell Park, Ashby Road, Loughborough, LE11 3AQ.
Principal activities
The principal activity of the Company during the year was that of software development services.

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:


3.


Going concern

The Company is supported by the shareholders and directors of the Company, who will continue to support the Company for the foreseeable future. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis.






 
3.1

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:

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 3

 
STEANNE SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
3.2

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.

 
3.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
3.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
3.5

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.

 
3.6

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.

 
3.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

 
STEANNE SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
3.8

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
3.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at transaction price, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
3.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at transaction price, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
3.11

Financial instruments

The Company only enters into basic financial instruments 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 non-puttable 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 transaction price, net of transaction costs, 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 financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
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 Profit and Loss Account.
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.
 
Page 5

 
STEANNE SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)


3.11
Financial instruments (continued)

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.


4.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


5.


Debtors

2023
2022
£
£


Trade debtors
-
31,510

Other debtors
857
62,591

857
94,101



6.


Cash and cash equivalents

2023
2022
£
£

Less: bank overdrafts
(2,496)
(6,242)

(2,496)
(6,242)


Page 6

 
STEANNE SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
2,496
6,242

Bank loans
9,820
10,000

Corporation tax
-
6,087

Other creditors
6,797
10,084

Accruals and deferred income
2,713
2,713

21,826
35,126



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
21,746
30,000

21,746
30,000



9.


Related party transactions

In accordance with FRS 102 35.1 AC the Company is exempt from the requirements to disclose transactions with wholly owned members of the group.
No other transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102, section 1AC 35.
All transactions are considered to be at arms length.


10.


Prior year adjustment

During the year ending 31 August 2023 it was noted that the Intangible assets had been overstated, in the year ended 31 August 2021, in order to correct this the intangible asset value was reduced by £187,200 and this impairment was expensed to the profit and loss.
Total net assets have been reduced by £187,200 from £216,175 to £28,975 at 31 August 2022. 

 
Page 7