Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29true2023-03-01falseNo description of principal activity33trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06356781 2023-03-01 2024-02-29 06356781 2022-03-01 2023-02-28 06356781 2024-02-29 06356781 2023-02-28 06356781 1 2023-03-01 2024-02-29 06356781 d:CompanySecretary1 2023-03-01 2024-02-29 06356781 d:Director1 2023-03-01 2024-02-29 06356781 d:Director2 2023-03-01 2024-02-29 06356781 d:Director3 2023-03-01 2024-02-29 06356781 d:RegisteredOffice 2023-03-01 2024-02-29 06356781 c:Buildings 2023-03-01 2024-02-29 06356781 c:PlantMachinery 2023-03-01 2024-02-29 06356781 c:PlantMachinery 2024-02-29 06356781 c:PlantMachinery 2023-02-28 06356781 c:PlantMachinery c:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 06356781 c:OfficeEquipment 2023-03-01 2024-02-29 06356781 c:OfficeEquipment 2024-02-29 06356781 c:OfficeEquipment 2023-02-28 06356781 c:OfficeEquipment c:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 06356781 c:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 06356781 c:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-02-29 06356781 c:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-02-28 06356781 c:CurrentFinancialInstruments 2024-02-29 06356781 c:CurrentFinancialInstruments 2023-02-28 06356781 c:CurrentFinancialInstruments c:WithinOneYear 2024-02-29 06356781 c:CurrentFinancialInstruments c:WithinOneYear 2023-02-28 06356781 c:ShareCapital 2024-02-29 06356781 c:ShareCapital 2023-02-28 06356781 c:RetainedEarningsAccumulatedLosses 2024-02-29 06356781 c:RetainedEarningsAccumulatedLosses 2023-02-28 06356781 d:FRS102 2023-03-01 2024-02-29 06356781 d:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 06356781 d:FullAccounts 2023-03-01 2024-02-29 06356781 d:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 06356781 2 2023-03-01 2024-02-29 06356781 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure
Registered number: 06356781


 
 
 
 
 
CELERITY MESSAGING UK LIMITED
FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
CELERITY MESSAGING UK LIMITED
 

COMPANY INFORMATION


Directors
R. J. B. Simpson 
D. M. Perrin 
P. E. Streicher 




Company secretary
D. M. Perrin



Registered number
06356781



Registered office
1st Floor Sackville House
143-149 Fenchurch Street

London

EC3M 6BN





 
CELERITY MESSAGING UK LIMITED
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Notes to the Financial Statements
 
3 - 8


 
CELERITY MESSAGING UK LIMITED
REGISTERED NUMBER: 06356781

BALANCE SHEET
AS AT 29 FEBRUARY 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Intangible assets
 4 
1
1

Tangible assets
 5 
3
729

  
4
730

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 6 
49,860
58,772

Cash at bank and in hand
  
1,385,882
1,349,800

  
1,435,742
1,408,572

Creditors: amounts falling due within one year
 7 
(861,683)
(900,917)

NET CURRENT ASSETS
  
 
 
574,059
 
 
507,655

PROVISIONS FOR LIABILITIES
  

Deferred tax
  
(259)
(259)

  
 
 
(259)
 
 
(259)

NET ASSETS
  
573,804
508,126


CAPITAL AND RESERVES
  

Allotted, called up and fully paid share capital
  
1,000
1,000

Profit and loss account
  
572,804
507,126

EQUITY SHAREHOLDERS' FUNDS
  
573,804
508,126


Page 1

 
CELERITY MESSAGING UK LIMITED
REGISTERED NUMBER: 06356781

BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024

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 Directors' Report and Statement of Income and Retained Earnings in accordance with provisions applicable to companies subject to the small companies regime, under section 444 of the Companies Act 2006.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on
20 August 2024.



R. J. B. Simpson
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
CELERITY MESSAGING UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


GENERAL INFORMATION

Celerity Messaging UK Limited (company number: 06356781), having its registered office at 1st Floor Sackville House, 143-149 Fenchurch Street, London, EC3M 6BN, is a private limited company incorporated in England and Wales.
There is no principal place of business.

2.ACCOUNTING POILCIES

 
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 the Republic of Ireland and the Companies Act 2006.

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 revenue 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 revenue 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 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.

 
2.3

Interest income

Interest income is recognised in the Statement of Income and Retained Earnings using the effective interest method.

  
2.4

Statement of Cash Flows

The Company has taken advantage of the exemption in Section 1A. 7 of Financial Reporting Standard 102 from the requirement to produce a Statement of Cash Flows on the grounds that it is a small company.

 
2.5

Finance costs

Finance costs are charged to Statement of Income and Retained Earnings 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.

Page 3

 
CELERITY MESSAGING UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.ACCOUNTING POILCIES (continued)

 
2.6

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.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 

The current corporation 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet 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. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.

 
2.8

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

 
CELERITY MESSAGING UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.ACCOUNTING POILCIES (continued)

 
2.9

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:

Computer equipment
-
33%
Computer software
-
50%
Office equipment
-
20%

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 the Statement of Income and Retained Earnings.

 
2.10

Debtors

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

 
2.11

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. 

 
2.12

Creditors

Short-term creditors are measured at the transaction price. 

 
2.13

Financial instruments

The Company only enters into basic fnancial instrument transactions that result in the recognition of financial assets and liabilties 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 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.
For financial asses 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.

Page 5

 
CELERITY MESSAGING UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.ACCOUNTING POILCIES (continued)

 
2.14

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.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of Income and Retained Earnings within 'other operating income'.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


4.


INTANGIBLE ASSETS






Software

£



Cost


At 1 March 2023 and 29 February 2024
521



Amortisation


At 1 March 2023 and 29 February 2024
520



Net book value



At 29 February 2024
1



At 28 February 2023
1



Page 6

 
CELERITY MESSAGING UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


TANGIBLE FIXED ASSETS







Computer equipment
Office equipment
Total

£
£
£



Cost or valuation


At 1 March 2023 and 29 February 2024

5,065
650
5,715



Depreciation


At 1 March 2023
4,337
649
4,986


Charge for the year
726
-
726



At 29 February 2024

5,063
649
5,712



Net book value



At 29 February 2024
2
1
3



At 28 February 2023
728
1
729

Page 7

 
CELERITY MESSAGING UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

6.


DEBTORS

2024
2023
£
£

Due within one year

Trade debtors
6,047
37,657

Amounts owed by group undertakings
29,595
-

Prepayments and accrued income
14,218
21,115

49,860
58,772



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
766,518
813,009

Corporation tax
21,523
1,849

Other taxation and social security
51,260
73,999

Other creditors
467
4,258

Accruals and deferred income
21,915
7,802

861,683
900,917



8.


Controlling party

As at 29 February 2024 and 28 February 2023, there was no single ultimate controlling party.


9.


Ultimate parent undertaking

As at 29 February 2024 and 28 February 2023 the ultimate parent undertaking was Celerity Systems (Pty) Limited, a company incorporated in South Africa.
The group in which the results of the company are consolidated is headed by Celerity Systems (Pty) Limited. The consolidated accounts will be available from the following address:
1st Floor
Mariott Hotel - Crystal Towers
Century Boulevard
Century City
7441


10.


Related party disclosures

The Company has taken advantage of the exemption in Financial Reporting Standard 102, Section 33.1A not to disclose transactions with group entities which are wholly owned by a member of the group.


Page 8