Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01No description of principal activitytruefalse94trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06976607 2023-01-01 2023-12-31 06976607 2022-01-01 2022-12-31 06976607 2023-12-31 06976607 2022-12-31 06976607 c:Director1 2023-01-01 2023-12-31 06976607 d:PlantMachinery 2023-01-01 2023-12-31 06976607 d:PlantMachinery 2023-12-31 06976607 d:PlantMachinery 2022-12-31 06976607 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 06976607 d:OfficeEquipment 2023-01-01 2023-12-31 06976607 d:OfficeEquipment 2023-12-31 06976607 d:OfficeEquipment 2022-12-31 06976607 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 06976607 d:ComputerEquipment 2023-01-01 2023-12-31 06976607 d:ComputerEquipment 2023-12-31 06976607 d:ComputerEquipment 2022-12-31 06976607 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 06976607 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 06976607 d:PatentsTrademarksLicencesConcessionsSimilar 2023-01-01 2023-12-31 06976607 d:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 06976607 d:PatentsTrademarksLicencesConcessionsSimilar 2022-12-31 06976607 d:CurrentFinancialInstruments 2023-12-31 06976607 d:CurrentFinancialInstruments 2022-12-31 06976607 d:Non-currentFinancialInstruments 2023-12-31 06976607 d:Non-currentFinancialInstruments 2022-12-31 06976607 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 06976607 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 06976607 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 06976607 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 06976607 d:ShareCapital 2023-12-31 06976607 d:ShareCapital 2022-12-31 06976607 d:RetainedEarningsAccumulatedLosses 2023-12-31 06976607 d:RetainedEarningsAccumulatedLosses 2022-12-31 06976607 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 06976607 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 06976607 c:FRS102 2023-01-01 2023-12-31 06976607 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 06976607 c:FullAccounts 2023-01-01 2023-12-31 06976607 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06976607 d:WithinOneYear 2023-12-31 06976607 d:WithinOneYear 2022-12-31 06976607 d:BetweenOneFiveYears 2023-12-31 06976607 d:BetweenOneFiveYears 2022-12-31 06976607 2 2023-01-01 2023-12-31 06976607 6 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

06976607







INTEGRATION360 LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED
31 DECEMBER 2023

































BALANCE SHEET
AS AT 31 DECEMBER 2023


INTEGRATION360 LIMITED
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
1,570
3,400

Investments
 6 
201,647
170,149

  
203,217
173,549

Current assets
  

Debtors: amounts falling due within one year
 7 
3,706,788
1,764,578

Cash at bank and in hand
  
2,861,730
8,104,475

  
6,568,518
9,869,053

Creditors: amounts falling due within one year
 8 
(4,129,865)
(4,740,011)

Net current assets
  
 
 
2,438,653
 
 
5,129,042

Total assets less current liabilities
  
2,641,870
5,302,591

Creditors: amounts falling due after more than one year
 9 
(383,335)
(505,744)

  

Net assets
  
2,258,535
4,796,847


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
2,258,435
4,796,747

  
2,258,535
4,796,847


Page 1

INTEGRATION360 LIMITED
REGISTERED NUMBER:06976607
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 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 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: 




M. V. Saravana-Kumar
Director

Date: 29 August 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

INTEGRATION360 LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Integration360 Limited is a private company limited by shares, and is registered in England and Wales. The address of its registered office is Unit 2 White Oak Square, London Road, Swanley, Kent, BR8 7AG.

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 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.

Monetary amounts in these financial statements are stated in pounds sterling and are rounded to the nearest whole £1, except where otherwise indicated.

The following principal accounting policies have been applied:

 
2.2

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 resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of income and retained earnings.

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'.

 
2.3

Revenue

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.
Software licensing income is recognised in the period to which the license relates.  

Page 3

INTEGRATION360 LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Interest income

Interest income is recognised in the Statement of income and retained earnings using the effective interest method.

 
2.5

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 the Statement of income and retained earnings 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.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 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 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 balance sheet date.

Page 4

INTEGRATION360 LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

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.

 The estimated useful lives range as follows:

Intellectual property
-
3
years

 
2.8

 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:

Plant and machinery
-
25%
Office equipment
-
25%
Computer equipment
-
25%

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.

 
2.9

 Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
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.

Page 5

INTEGRATION360 LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.12

 Creditors

Short-term creditors are measured at the transaction price.

 
2.13

 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.

 
2.14

 Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 9 (2022 - 4).


4.


Intangible assets




Intellectual property

£



Cost


At 1 January 2023
134,861



At 31 December 2023

134,861



Amortisation


At 1 January 2023
134,861



At 31 December 2023

134,861



Net book value



At 31 December 2023
-



At 31 December 2022
-



Page 6

INTEGRATION360 LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Plant and machinery
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2023
25,826
69,382
43,145
138,353


Additions
-
-
1,932
1,932



At 31 December 2023

25,826
69,382
45,077
140,285



Depreciation


At 1 January 2023
25,826
68,456
40,671
134,953


Charge for the year on owned assets
-
926
2,836
3,762



At 31 December 2023

25,826
69,382
43,507
138,715



Net book value



At 31 December 2023
-
-
1,570
1,570



At 31 December 2022
-
926
2,474
3,400


6.


Fixed asset investments





Listed investments
Unlisted investments
Total

£
£
£



Cost or valuation


At 1 January 2023
91,165
78,984
170,149


Disposals
-
(15,727)
(15,727)



At 31 December 2023

91,165
63,257
154,422



Impairment


Charge for the period
(47,225)
-
(47,225)



At 31 December 2023

(47,225)
-
(47,225)

Page 7

INTEGRATION360 LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Debtors

2023
2022
£
£


Trade debtors
676,669
702,815

Amounts owed by group companies
2,875,244
179,272

Other debtors
61,863
760,696

Prepayments and accrued income
77,649
93,131

Deferred taxation
15,363
28,664

3,706,788
1,764,578



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
403
-

Trade creditors
176,946
161,941

Amounts owed to group companies
10
-

Corporation tax
-
908,534

Other taxation and social security
22,150
10,639

Other creditors
87,153
50,673

Accruals and deferred income
3,843,203
3,608,224

4,129,865
4,740,011



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Accruals and deferred income
383,335
505,744


Page 8

INTEGRATION360 LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Deferred taxation




2023


£






At beginning of year
28,664


Charged to profit or loss
(13,301)



At end of year
15,363

The deferred tax asset is made up as follows:

2023
2022
£
£


Accelerated capital allowances
15,363
28,664

15,363
28,664


11.


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
24,073
24,073

Later than 1 year and not later than 5 years
18,055
42,128

42,128
66,201


12.


Related party transactions

During the year, there were purchases made from Kovai Systems India Pvt Ltd, a company under common control, totalling £1,823,472 (2022: £1,571,572). At the year-end, a balance of £nil (2022: £48,622) was due from Kovai Systems India Pvt Ltd and is included within debtors.  


13.


Controlling party

The ultimate parent company is Kovai Holdings Limited, which is a private company limited by shares and is registered in England and Wales. The address of its registered office is Unit 2 White Oak Square, London Road, Swanley, Kent, BR8 7AG. The ultimate controlling party is M. V. Saravana-Kumar by virtue of their shareholding in Kovai Holdings Limited.  

 
Page 9