Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false2023-01-012No description of principal activity0falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13728159 2023-01-01 2023-12-31 13728159 2021-11-08 2022-12-31 13728159 2023-12-31 13728159 2022-12-31 13728159 c:Director1 2023-01-01 2023-12-31 13728159 c:Director2 2023-01-01 2023-12-31 13728159 d:CurrentFinancialInstruments 2023-12-31 13728159 d:CurrentFinancialInstruments 2022-12-31 13728159 d:Non-currentFinancialInstruments 2023-12-31 13728159 d:Non-currentFinancialInstruments 2022-12-31 13728159 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 13728159 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 13728159 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 13728159 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 13728159 d:ShareCapital 2023-01-01 2023-12-31 13728159 d:ShareCapital 2023-12-31 13728159 d:ShareCapital 2022-12-31 13728159 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 13728159 d:RetainedEarningsAccumulatedLosses 2023-12-31 13728159 d:RetainedEarningsAccumulatedLosses 2022-12-31 13728159 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 13728159 d:TaxLossesCarry-forwardsDeferredTax 2022-12-31 13728159 c:FRS102 2023-01-01 2023-12-31 13728159 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 13728159 c:FullAccounts 2023-01-01 2023-12-31 13728159 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13728159 2 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

13728159







DOCUMENT 360 LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED
31 DECEMBER 2023

































DOCUMENT 360 LIMITED
REGISTERED NUMBER:13728159

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
934,460
497,464

Cash at bank and in hand
  
2,690,603
217,081

  
3,625,063
714,545

Creditors: amounts falling due within one year
 5 
(5,145,586)
(1,446,123)

Net current liabilities
  
 
 
(1,520,523)
 
 
(731,578)

Total assets less current liabilities
  
(1,520,523)
(731,578)

Creditors: amounts falling due after more than one year
 6 
(400,257)
(92,627)

  

Net liabilities
  
(1,920,780)
(824,205)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(1,920,880)
(824,305)

  
(1,920,780)
(824,205)


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 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 29 August 2024.


M. V. Saravana-Kumar
G. Ramkumar
Director
Director

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

Page 1

DOCUMENT 360 LIMITED

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 January 2023
100
(824,305)
(824,205)


Comprehensive income for the year

Loss for the year

-
(1,096,575)
(1,096,575)


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
(1,096,575)
(1,096,575)


Total transactions with owners
-
-
-


At 31 December 2023
100
(1,920,880)
(1,920,780)


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

Page 2

DOCUMENT 360 LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Document360 Limited (the Company) 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, 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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

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

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

Going concern

During the year the Company made a loss and at the year-end the Company has net liabilities. Having taken into account all available information about the Company’s trading prospects and cashflow requirements for 12 months from the date of approval of the financial statements, the directors consider that the Company is a going concern given the expected future performance of the Group.  

 
2.3

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.

Page 3

DOCUMENT 360 LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

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. 
Software licensing income is recognised in the period to which the license relates.  

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.

 
2.5

Interest income

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

 
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 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.

Page 4

DOCUMENT 360 LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

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 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.

 
2.8

Debtors

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

 
2.9

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. 

 
2.10

 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.

 
2.11

 Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.12

 Financial instruments

Page 5

DOCUMENT 360 LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.12
 Financial instruments (continued)

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 and loans from related parties.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022: 2).



4.


Debtors

2023
2022
£
£


Trade debtors
902,089
223,007

Amounts owed by group undertakings
-
100

Other debtors
28,250
-

Prepayments and accrued income
4,121
-

Deferred taxation
-
274,357

934,460
497,464



5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
21
-

Trade creditors
15,854
42,214

Amounts owed to group undertakings
2,680,563
136,353

Other taxation and social security
25,482
12,880

Accruals and deferred income
2,423,666
1,254,676

5,145,586
1,446,123



6.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Accruals and deferred income
400,257
92,627


Page 6

DOCUMENT 360 LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Deferred taxation




2023


£






At beginning of year
274,357


Charged to profit or loss
(274,357)



At end of year
-

The deferred tax asset is made up as follows:

2023
2022
£
£


Tax losses carried forward
-
274,357

-
274,357


8.


Related party transactions

During the period, the Company made purchases of £726,568 (2022: £1,846,030) from Kovai Systems Pvt Ltd, a company registered in India under common control.


9.


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, BR8 7AG. 
The ultimate controlling party is M. V. Saravana-Kumar by virtue of their shareholding in Kovai Holdings Limited.  

 
Page 7