Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31true2023-01-01falseNo description of principal activity67trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01207085 2023-01-01 2023-12-31 01207085 2022-01-01 2022-12-31 01207085 2023-12-31 01207085 2022-12-31 01207085 2022-01-01 01207085 c:Director1 2023-01-01 2023-12-31 01207085 d:MotorVehicles 2023-01-01 2023-12-31 01207085 d:MotorVehicles 2023-12-31 01207085 d:MotorVehicles 2022-12-31 01207085 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01207085 d:FurnitureFittings 2023-01-01 2023-12-31 01207085 d:FurnitureFittings 2023-12-31 01207085 d:FurnitureFittings 2022-12-31 01207085 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01207085 d:OfficeEquipment 2023-01-01 2023-12-31 01207085 d:ComputerEquipment 2023-01-01 2023-12-31 01207085 d:ComputerEquipment 2023-12-31 01207085 d:ComputerEquipment 2022-12-31 01207085 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01207085 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01207085 d:CurrentFinancialInstruments 2023-12-31 01207085 d:CurrentFinancialInstruments 2022-12-31 01207085 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 01207085 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 01207085 d:ShareCapital 2023-12-31 01207085 d:ShareCapital 2022-12-31 01207085 d:RetainedEarningsAccumulatedLosses 2023-12-31 01207085 d:RetainedEarningsAccumulatedLosses 2022-12-31 01207085 c:FRS102 2023-01-01 2023-12-31 01207085 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 01207085 c:FullAccounts 2023-01-01 2023-12-31 01207085 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 01207085 d:Subsidiary1 2023-01-01 2023-12-31 01207085 d:Subsidiary1 1 2023-01-01 2023-12-31 01207085 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 01207085 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 01207085 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 01207085 d:TaxLossesCarry-forwardsDeferredTax 2022-12-31 01207085 d:RetirementBenefitObligationsDeferredTax 2023-12-31 01207085 d:RetirementBenefitObligationsDeferredTax 2022-12-31 01207085 d:OtherDeferredTax 2023-12-31 01207085 d:OtherDeferredTax 2022-12-31 01207085 6 2023-01-01 2023-12-31 01207085 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 01207085










BORER DATA SYSTEMS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
BORER DATA SYSTEMS LIMITED
REGISTERED NUMBER: 01207085

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
228
490

Investments
 5 
126,828
126,829

  
127,056
127,319

Current assets
  

Stocks
  
75,532
69,523

Debtors: amounts falling due within one year
 6 
365,325
347,048

Current asset investments
  
285,288
264,351

Cash at bank and in hand
  
237,148
277,387

  
963,293
958,309

Creditors: amounts falling due within one year
 7 
(77,968)
(66,322)

Net current assets
  
 
 
885,325
 
 
891,987

Total assets less current liabilities
  
1,012,381
1,019,306

  

Net assets
  
1,012,381
1,019,306


Capital and reserves
  

Called up share capital 
  
40,000
40,000

Profit and loss account
  
972,381
979,306

  
1,012,381
1,019,306


Page 1

 
BORER DATA SYSTEMS LIMITED
REGISTERED NUMBER: 01207085
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

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 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: 






R G Chapman
Director

Date: 19 August 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
BORER DATA SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Borer Data Systems Limited is a private company limited by shares and incorporated in England. Its registered office address is Unit 4 Winnersh Fields, Gazelle Close, Winnersh, Wokingham, RG41 5QS and registered number is 01207085.

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:

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 3

 
BORER DATA SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
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.

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:

Motor vehicles
-
20% straight line
Fixtures & fittings
-
15% to 33% straight line
Office equipment
-
15% straight line
Computer equipment
-
25% 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.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on a first in first out basis and includes all direct costs and an appropriate proportion of fixed and variable overheads.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Debtors

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

 
2.7

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.

Page 4

 
BORER DATA SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

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.

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.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

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.

 
2.9

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.

Page 5

 
BORER DATA SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

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.

 
2.11

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.

 
2.12

Leased assets: the company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.13

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 Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

Page 6

 
BORER DATA SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.14

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 reporting date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2022 - 7).

Page 7

 
BORER DATA SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Motor vehicles
Fixtures & fittings
Office & computer equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2023
32,352
13,155
20,434
65,941


Disposals
(19,950)
-
-
(19,950)



At 31 December 2023

12,402
13,155
20,434
45,991



Depreciation


At 1 January 2023
32,352
13,155
19,944
65,451


Charge for the year on owned assets
-
-
262
262


Disposals
(19,950)
-
-
(19,950)



At 31 December 2023

12,402
13,155
20,206
45,763



Net book value



At 31 December 2023
-
-
228
228



At 31 December 2022
-
-
490
490


5.


Fixed asset investments





Investments in subsidiary companies
Listed investments
Total

£
£
£



Cost or valuation


At 1 January 2023
116,792
10,036
126,828



At 31 December 2023
116,792
10,036
126,828




Page 8

 
BORER DATA SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

Subsidiary undertaking


The following was a subsidiary undertaking of the company:

Name

Registered office

Class of shares

Holding

Borer Sistemas de Autenticação de Acesso do Brasil
Brazil
Ordinary
99%


6.


Debtors

2023
2022
£
£


Trade debtors
105,412
99,171

Other debtors
95,403
79,694

Prepayments and accrued income
7,101
7,575

Deferred taxation
157,409
160,608

365,325
347,048



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
4,162
8,239

Other taxation and social security
21,221
14,362

Accruals and deferred income
52,585
43,721

77,968
66,322



8.


Deferred taxation




2023
2022


£

£






At beginning of year
160,608
152,860


Charged to profit or loss
(3,199)
7,748



At end of year
157,409
160,608

Page 9

 
BORER DATA SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
 
8.Deferred taxation (continued)

The deferred tax asset is made up as follows:

2023
2022
£
£


Accelerated capital allowances
978
1,913

Tax losses carried forward
161,530
161,530

Short term timing differences
123
119

Capital gains
(5,222)
(2,954)

157,409
160,608


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 cost charge represents contributions payable by the company to the fund and amounted to £31,657 (2022 - £22,874). Employee and employer contributions totalling £992 (2022 - £957) were payable to the fund at the balance sheet date and are included in creditors.


10.


Related party transactions

The company has a subsidiary undertaking, Borer Sistemas de Autenticação de Acesso do Brasil, who owed Borer Data Systems Limited at the year end £106,701 (2022 - £106,701).

 
Page 10