Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312024-05-132023-01-01false44truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10736602 2023-01-01 2023-12-31 10736602 2022-01-01 2022-12-31 10736602 2023-12-31 10736602 2022-12-31 10736602 c:Director1 2023-01-01 2023-12-31 10736602 d:FurnitureFittings 2023-01-01 2023-12-31 10736602 d:FurnitureFittings 2023-12-31 10736602 d:FurnitureFittings 2022-12-31 10736602 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10736602 d:ComputerEquipment 2023-01-01 2023-12-31 10736602 d:ComputerEquipment 2023-12-31 10736602 d:ComputerEquipment 2022-12-31 10736602 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10736602 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10736602 d:CurrentFinancialInstruments 2023-12-31 10736602 d:CurrentFinancialInstruments 2022-12-31 10736602 d:Non-currentFinancialInstruments 2023-12-31 10736602 d:Non-currentFinancialInstruments 2022-12-31 10736602 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 10736602 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 10736602 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 10736602 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 10736602 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 10736602 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 10736602 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 10736602 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 10736602 d:ShareCapital 2023-12-31 10736602 d:ShareCapital 2022-12-31 10736602 d:RetainedEarningsAccumulatedLosses 2023-12-31 10736602 d:RetainedEarningsAccumulatedLosses 2022-12-31 10736602 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-12-31 10736602 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-12-31 10736602 c:FRS102 2023-01-01 2023-12-31 10736602 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 10736602 c:FullAccounts 2023-01-01 2023-12-31 10736602 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10736602 2 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 10736602










HULLO AIRCREW LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
HULLO AIRCREW LIMITED
REGISTERED NUMBER: 10736602

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
833

  
-
833

Current assets
  

Debtors: amounts falling due within one year
 5 
26,246
61,159

Cash at bank and in hand
 6 
85,889
100,384

  
112,135
161,543

Creditors: amounts falling due within one year
 7 
(18,238)
(14,980)

Net current assets
  
 
 
93,897
 
 
146,563

Total assets less current liabilities
  
93,897
147,396

Creditors: amounts falling due after more than one year
 8 
(32,966)
(37,392)

  

Net assets
  
60,931
110,004


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
60,930
110,003

  
60,931
110,004


Page 1

 
HULLO AIRCREW LIMITED
REGISTERED NUMBER: 10736602
    
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: 




K Blay
Director

Date: 13 May 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

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

1.


General information

Hullo Aircrew Limited is a private company limited by shares, incorporated in the United Kingdom and registered in England and Wales. The address of the registered office is Room 12, Cherwell A Block Room 12, Cherwell A Block, Oxford Airport, Kidlington, Oxfordshire, United Kingdom, OX5 1RA.

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.

 
2.2

Going concern

The financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existance for the forseeable furture.

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

Page 3

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

2.Accounting policies (continued)

 
2.4

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover 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 turnover 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 turnover 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

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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

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.

 
2.7

Interest income

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

 
2.8

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.

Page 4

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

2.Accounting policies (continued)

 
2.9

Borrowing costs

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

 
2.10

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.

 
2.11

Development costs

The development costs are written off to the profit and loss account as incurred.  

 
2.12

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:

Fixtures and fittings
-
25%
Straight line
Computer equipment
-
25%
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.

 
2.13

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.

 
2.14

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.

Page 5

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

2.Accounting policies (continued)

 
2.15

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.

 
2.16

Financial instruments

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

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 receipts 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 6

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

2.Accounting policies (continued)

 
2.17

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 4 (2022 - 4).


4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
578
3,627
4,205


Additions
-
599
599



At 31 December 2023

578
4,226
4,804



Depreciation


At 1 January 2023
464
2,908
3,372


Charge for the year on owned assets
114
1,318
1,432



At 31 December 2023

578
4,226
4,804



Net book value



At 31 December 2023
-
-
-



At 31 December 2022
114
719
833

Page 7

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

5.


Debtors

2023
2022
£
£


Trade debtors
-
29,910

Amounts owed by group undertakings
1
1

Other debtors
26,244
31,247

Called up share capital not paid
1
1

26,246
61,159



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
85,889
100,384

85,889
100,384



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
5,460
6,600

Trade creditors
2,442
592

Other taxation and social security
6,496
4,323

Accruals and deferred income
3,840
3,465

18,238
14,980



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
32,966
37,392

32,966
37,392


Page 8

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

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
5,460
6,600


5,460
6,600

Amounts falling due 1-2 years

Bank loans
5,460
6,600


5,460
6,600

Amounts falling due 2-5 years

Bank loans
27,506
30,792


27,506
30,792


38,426
43,992



10.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
85,889
100,384




Financial assets measured at fair value through profit or loss comprise of cash and cash equivalents.


11.


Related party transactions

During the year Hullo Aircrew Ltd invoiced Hullo Limited £Nil for administrative services provided (2022: £Nil).

Page 9

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

12.


Controlling party

During this and the preceding period the ultimate controlling party was Hullo Limited.

 
Page 10