Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false2023-01-01falseEngineering related scientific and technical consulting activities55truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11059163 2023-01-01 2023-12-31 11059163 2022-01-01 2022-12-31 11059163 2023-12-31 11059163 2022-12-31 11059163 c:Director1 2023-01-01 2023-12-31 11059163 d:PlantMachinery 2023-01-01 2023-12-31 11059163 d:PlantMachinery 2023-12-31 11059163 d:PlantMachinery 2022-12-31 11059163 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11059163 d:ComputerEquipment 2023-01-01 2023-12-31 11059163 d:ComputerEquipment 2023-12-31 11059163 d:ComputerEquipment 2022-12-31 11059163 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11059163 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11059163 d:CurrentFinancialInstruments 2023-12-31 11059163 d:CurrentFinancialInstruments 2022-12-31 11059163 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11059163 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11059163 d:ShareCapital 2023-12-31 11059163 d:ShareCapital 2022-12-31 11059163 d:SharePremium 2023-12-31 11059163 d:SharePremium 2022-12-31 11059163 d:RetainedEarningsAccumulatedLosses 2023-12-31 11059163 d:RetainedEarningsAccumulatedLosses 2022-12-31 11059163 c:OrdinaryShareClass1 2023-01-01 2023-12-31 11059163 c:OrdinaryShareClass1 2023-12-31 11059163 c:OrdinaryShareClass1 2022-12-31 11059163 c:OrdinaryShareClass2 2023-01-01 2023-12-31 11059163 c:OrdinaryShareClass2 2023-12-31 11059163 c:OrdinaryShareClass2 2022-12-31 11059163 c:FRS102 2023-01-01 2023-12-31 11059163 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11059163 c:FullAccounts 2023-01-01 2023-12-31 11059163 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11059163 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11059163









CENTILLION TECHNOLOGY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
CENTILLION TECHNOLOGY LIMITED
REGISTERED NUMBER: 11059163

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
201,505
61,099

  
201,505
61,099

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 5 
144,030
43,072

Cash at bank and in hand
  
281,684
166,546

  
425,714
209,618

Creditors: amounts falling due within one year
 6 
(258,312)
(267,332)

NET CURRENT ASSETS/(LIABILITIES)
  
 
 
167,402
 
 
(57,714)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
368,907
3,385

  

NET ASSETS
  
368,907
3,385


CAPITAL AND RESERVES
  

Called up share capital 
 7 
682
682

Share premium account
  
149,880
149,880

Profit and loss account
  
218,345
(147,177)

  
368,907
3,385


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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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.

Page 1

 
CENTILLION TECHNOLOGY LIMITED
REGISTERED NUMBER: 11059163
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




C Makatsoris
Director

Date: 21 August 2024

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

Page 2

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

1.


GENERAL INFORMATION

The Company is a private company limited by shares and incorporated in England and Wales. Its registered office address is Harwood House, 43 Harwood Road, London, United Kingdom, SW6 4QP.
The Company's functional and presentational currency is GBP. 

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 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.

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 profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.3

RESEARCH AND DEVELOPMENT

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.4

GOVERNMENT GRANTS

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Profit and Loss Account in the same period as the related expenditure.

 
2.5

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.

 
2.6

BORROWING COSTS

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

 
2.7

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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.8

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 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.

 
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:

Plant and machinery
-
20%
Straight Line
Computer equipment
-
33%
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.

 
2.10

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.

Page 5

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

2.ACCOUNTING POLICIES (CONTINUED)

 
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. 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.

 
2.12

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.


3.


EMPLOYEES




The average number of employees, including directors during the year was 5 (2022: 5).


4.


TANGIBLE FIXED ASSETS





Plant and machinery
Computer equipment
Total

£
£
£



COST OR VALUATION


At 1 January 2023
57,472
8,176
65,648


Additions
184,419
-
184,419



At 31 December 2023

241,891
8,176
250,067



DEPRECIATION


At 1 January 2023
4,164
385
4,549


Charge for the year on owned assets
41,288
2,725
44,013



At 31 December 2023

45,452
3,110
48,562



NET BOOK VALUE



At 31 December 2023
196,439
5,066
201,505



At 31 December 2022
53,308
7,791
61,099

Page 6

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

5.


DEBTORS

2023
2022
£
£


Other debtors
107,709
38,395

Prepayments and accrued income
36,321
4,677

144,030
43,072



6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Bank loans
3,171
4,095

Trade creditors
83,094
60,020

Other taxation and social security
13,299
-

Other creditors
1,606
1,171

Accruals and deferred income
157,142
202,046

258,312
267,332


Included within other creditors is an amount payable to the company's defined pension contrbution scheme of £1,541 (2022: £1,106).


7.


SHARE CAPITAL

2023
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



6,200,000 (2022 - 6,200,000) Ordinary shares of £0.0001- each
620
620
620,000 (2022 - 620,000) VV shares of £0.0001- each
62
62

682

682



8.


CONTINGENT LIABILITIES

The Company has an obligation under contract to pay Consultancy Services amounting to £540,175 at such a point that the Company reaches cumulative revenue of £1,000,000. This disclosure has been made according to FRS 102 Paragraph 21.15

 
Page 7