Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31truetrue2023-01-01falseNo description of principal activity1211false 05552704 2023-01-01 2023-12-31 05552704 2022-01-01 2022-12-31 05552704 2023-12-31 05552704 2022-12-31 05552704 c:Director2 2023-01-01 2023-12-31 05552704 d:PlantMachinery 2023-01-01 2023-12-31 05552704 d:PlantMachinery 2023-12-31 05552704 d:PlantMachinery 2022-12-31 05552704 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05552704 d:FurnitureFittings 2023-01-01 2023-12-31 05552704 d:FurnitureFittings 2023-12-31 05552704 d:FurnitureFittings 2022-12-31 05552704 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05552704 d:OfficeEquipment 2023-01-01 2023-12-31 05552704 d:OfficeEquipment 2023-12-31 05552704 d:OfficeEquipment 2022-12-31 05552704 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05552704 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05552704 d:CurrentFinancialInstruments 2023-12-31 05552704 d:CurrentFinancialInstruments 2022-12-31 05552704 d:Non-currentFinancialInstruments 2023-12-31 05552704 d:Non-currentFinancialInstruments 2022-12-31 05552704 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 05552704 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 05552704 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 05552704 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 05552704 d:ShareCapital 2023-12-31 05552704 d:ShareCapital 2022-12-31 05552704 d:RetainedEarningsAccumulatedLosses 2023-12-31 05552704 d:RetainedEarningsAccumulatedLosses 2022-12-31 05552704 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-12-31 05552704 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-12-31 05552704 c:OrdinaryShareClass1 2023-01-01 2023-12-31 05552704 c:OrdinaryShareClass1 2023-12-31 05552704 c:OrdinaryShareClass1 2022-12-31 05552704 c:FRS102 2023-01-01 2023-12-31 05552704 c:Audited 2023-01-01 2023-12-31 05552704 c:FullAccounts 2023-01-01 2023-12-31 05552704 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05552704 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 05552704 2 2023-01-01 2023-12-31 05552704 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 05552704










REELWORLD EUROPE LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
REELWORLD EUROPE LIMITED
REGISTERED NUMBER: 05552704

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
430

  
-
430

Current assets
  

Debtors: amounts falling due within one year
 5 
111,223
52,432

Cash at bank and in hand
  
43,511
121,502

  
154,734
173,934

Creditors: amounts falling due within one year
 6 
(92,746)
(214,529)

Net current assets/(liabilities)
  
 
 
61,988
 
 
(40,595)

Total assets less current liabilities
  
61,988
(40,165)

Creditors: amounts falling due after more than one year
 7 
-
(1,394)

  

Net assets/(liabilities)
  
61,988
(41,559)


Capital and reserves
  

Called up share capital 
 9 
10
10

Profit and loss account
  
61,978
(41,569)

  
61,988
(41,559)


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 on 13 August 2024.




A Gay
Director

The notes on pages 2 to 8 form part of these financial statements.

Page 1

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

1.Accounting policies

 
1.1

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:

 
1.2

Going concern

The financial statements have been prepared on a going concern basis.  The Directors have considered relevant information, including the annual budget, forecast future cashflows and the impact of subsequent events in making their assessment, along with the pledge of continuing support from the parent company for the forseeable future. 
Based on these assessments and having regard to the resources available to the entity, the Directors have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and accounts.

 
1.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP, figures in the accounts are rounded to the nearest £.

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.

Page 2

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

1.Accounting policies (continued)

 
1.4

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.

 
1.5

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.

 
1.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
1.7

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.

 
1.8

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 reporting date in the countries where the Company operates and generates income.

Page 3

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

1.Accounting policies (continued)

 
1.9

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:

Plant and machinery
-
33%
straight-line
Fixtures and fittings
-
20%
straight-line
Office equipment
-
20%
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.

 
1.10

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.

 
1.11

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. 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.

 
1.12

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 4

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

1.Accounting policies (continued)

 
1.13

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.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

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.

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 payments 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.

Page 5

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

2.


General information

Reelworld Europe Limited is a private company, limited by shares and registered in England.
Its registered number is:  05552704
Its Registered Office is:
Blue Tower
Mediacityuk
Salford
M50 2ST


3.


Employees

The average monthly number of employees, including directors, during the year was 12 (2022 - 11).


4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2023
1,937
4,897
2,876
9,710



At 31 December 2023

1,937
4,897
2,876
9,710



Depreciation


At 1 January 2023
1,937
4,897
2,446
9,280


Charge for the year on owned assets
-
-
430
430



At 31 December 2023

1,937
4,897
2,876
9,710



Net book value



At 31 December 2023
-
-
-
-



At 31 December 2022
-
-
430
430

Page 6

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

5.


Debtors

2023
2022
£
£


Trade debtors
5,300
40,740

Amounts owed by group undertakings
84,559
-

Other debtors
15,861
114

Prepayments and accrued income
5,503
11,578

111,223
52,432



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
15,134
-

Corporation tax
6,772
-

Other taxation and social security
-
6,049

Other creditors
5,950
155,349

Accruals and deferred income
64,890
53,131

92,746
214,529



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other creditors
-
1,394

-
1,394



8.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
43,511
43,511




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

Page 7

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

9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



10 (2022 - 10) Ordinary shares of £1.00 each
10
10



10.


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 £43,077 (2022 - £41,066) . Contributions totalling £4,556 (2022 - £4,277) were payable to the fund at the reporting date and are included in creditors.


11.


Controlling party

The ultimate parent company is Reelworld Productions Incorporated, a company registered in the United States Of America, and the ultimate controlling party of the Company is S Thomas, by virtue of his shareholding.


12.
 

Provisions available for audits of small entities

We have undertaken the audit in accordance with the requirements of APB Ethical Standards, including "APB Ethical Standards - Provisions Available for Small Entities (Revised)".  In common with many other businessess of this size and nature , the Company uses our firm to prepare and submit tax returns and assist with the preparation of the financial statements.  


13.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 14 August 2024 by Martin Van Beek (Senior statutory auditor) on behalf of Ashleys (Hitchin) Limited.

 
Page 8