Company registration number 07018761 (England and Wales)
APPSANYWHERE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
APPSANYWHERE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 11
APPSANYWHERE LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
192,044
172,973
Current assets
Debtors falling due after more than one year
5
91,743
14,603
Debtors falling due within one year
5
6,937,847
5,526,820
Cash at bank and in hand
769,511
884,266
7,799,101
6,425,689
Creditors: amounts falling due within one year
6
(2,298,287)
(2,066,292)
Net current assets
5,500,814
4,359,397
Total assets less current liabilities
5,692,858
4,532,370
Creditors: amounts falling due after more than one year
7
(304,761)
(49,989)
Provisions for liabilities
(30,573)
(28,213)
Net assets
5,357,524
4,454,168
Capital and reserves
Called up share capital
11
239
239
Capital redemption reserve
12
141
141
Profit and loss reserves
5,357,144
4,453,788
Total equity
5,357,524
4,454,168

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

APPSANYWHERE LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 30 August 2024 and are signed on its behalf by:
Mr N Johnson
Director
Company registration number 07018761 (England and Wales)
APPSANYWHERE LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 January 2022
239
141
3,373,799
3,374,179
Year ended 31 December 2022:
Profit and total comprehensive income
-
-
1,079,989
1,079,989
Balance at 31 December 2022
239
141
4,453,788
4,454,168
Year ended 31 December 2023:
Profit and total comprehensive income
-
-
903,356
903,356
Balance at 31 December 2023
239
141
5,357,144
5,357,524
APPSANYWHERE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
1
Accounting policies
Company information

AppsAnywhere Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Foresters Arms, 35 Kirkgate, Sherburn in Elmet, Leeds, LS25 6BH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of Software2 Holdings Ltd. These consolidated financial statements are available from its registered office, 35 Kirkgate, Sherburn In Elmet, Leeds, England, LS25 6BH.

1.2
Going concern

The directors have accessed the company's ability to continue as a going concern through the use of future cash flows and expected performance. From this review they have concluded that there are no material uncertainties related to events or conditions which cast significant doubt about the ability of the company to continue as a going concern.true

 

Additionally, the company has the financial support of group companies which ensures that the company is able to meet all its working capital requirements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

APPSANYWHERE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 5 -

Turnover (continued)

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer and the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The

stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

 

With regards to the material streams of turnover for the business:

 

Fees for installation of on-premise software

 

Fees for the installation of the software at the customer’s premises are recognised as revenue in full on completion of the installation because during installation the stage of completion cannot be estimated reliably.

Sale of the right to use on-premise licensed software

 

The Directors have assessed the substance of the commercial and contractual arrangements and concluded that the sale of a license represents a sale satisfied at a point in time and therefore license revenue is recognised in full following successful completion of the installation phase. The license allows the customer to use the installed software for pre-determined period under a non-cancellable contract for a pre-determined fee. In making their assessment the Directors took account of the following:

 

 

Sale of packaging credits

 

The sale of credits entitling the customer to receive application packaging activities from the Company are recognised on a usage-basis as the activities are performed and the credits consumed. Any credits sold but not consumed are treated as deferred income until they are consumed or expire, at which point they are recognised as revenue.

 

Sale of cloud based licensed software

 

The sale of cloud based licensed software is recognised equally over the period of the license.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

APPSANYWHERE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 6 -

Tangible fixed assets (continued)

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
10% straight line
Fixtures and fittings
33% straight line
Computer equipment
33% straight line
Motor vehicles
12.5% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet 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 debtors, amounts due from fellow group companies and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

APPSANYWHERE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 7 -
1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.9
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

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.

1.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
28
27
APPSANYWHERE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 8 -
3
Taxation
2023
2022
£
£
Current tax
UK corporation tax on profits for the current period
113,401
104,396
Adjustments in respect of prior periods
(11,767)
(23,129)
Total current tax
101,634
81,267
Deferred tax
Origination and reversal of timing differences
2,360
(5,087)
Total tax charge
103,994
76,180
4
Tangible fixed assets
Leasehold improvements
Fixtures and fittings
Computer equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2023
101,089
36,711
120,691
100,111
358,602
Additions
10,400
-
0
12,938
115,291
138,629
Disposals
-
0
-
0
(649)
(100,111)
(100,760)
At 31 December 2023
111,489
36,711
132,980
115,291
396,471
Depreciation and impairment
At 1 January 2023
37,289
32,715
88,512
27,113
185,629
Depreciation charged in the year
11,020
2,469
20,629
18,266
52,384
Eliminated in respect of disposals
-
0
-
0
(216)
(33,370)
(33,586)
At 31 December 2023
48,309
35,184
108,925
12,009
204,427
Carrying amount
At 31 December 2023
63,180
1,527
24,055
103,282
192,044
At 31 December 2022
63,800
3,996
32,179
72,998
172,973
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
989,275
862,128
Corporation tax recoverable
60,853
45,208
Amounts owed by group undertakings
5,437,902
4,178,488
Other debtors
19,756
90,059
Prepayments and accrued income
430,061
350,937
6,937,847
5,526,820
APPSANYWHERE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
5
Debtors
(Continued)
- 9 -
2023
2022
Amounts falling due after more than one year:
£
£
Prepayments and accrued income
91,743
14,603
Total debtors
7,029,590
5,541,423
6
Creditors: amounts falling due within one year
2023
2022
£
£
Obligations under finance leases
8
10,168
14,626
Trade creditors
807,044
535,969
Amounts owed to group undertakings
-
0
12,921
Taxation and social security
78,842
104,231
Other creditors
7,857
5,894
Accruals and deferred income
1,394,376
1,392,651
2,298,287
2,066,292
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Obligations under finance leases
8
87,497
49,989
Accruals and deferred income
217,264
-
0
304,761
49,989
8
Finance lease obligations
2023
2022
Future minimum lease payments due under finance leases:
£
£
Within one year
10,168
14,638
In two to five years
87,497
49,977
97,665
64,615

 

APPSANYWHERE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 10 -
9
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2023
2022
Balances:
£
£
Accelerated capital allowances
30,573
28,213
2023
Movements in the year:
£
Liability at 1 January 2023
28,213
Charge to profit or loss
2,360
Liability at 31 December 2023
30,573

The deferred tax liability set out above is expected to reverse within 12 months and relates to accelerated capital allowances that are expected to mature within the same period.

11
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
19
19
19
19
Ordinary A shares of £1 each
220
220
220
220
239
239
239
239

The company have two types of Ordinary shars which have attached to them full voting, dividend and capital distribution rights. They do not confer any rights of redemption.

12
Capital redemption reserve

The capital redemption reserve represents the value of the Company's own shares which have been repurchased.

13
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 £102,071 (2022: £94,073). Contributions totaling £7,857 (2022: £5,894) were payable to the fund at the balance sheet date and are included in creditors.

APPSANYWHERE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 11 -
14
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
3,034
59,916
15
Related party transactions

The Company is a wholly owned subsidiary of Software2 Group Limited and as such has taken advantage of the exemption permitted by Section 33 'Related Party Disclosures' not to provide disclosures of transactions entered into with the parent company or other wholly owned subsidiaries within the group.

16
Parent company

The immediate parent undertaking is S2 Group Ltd and the ultimate parent undertaking is Software2 Holdings Ltd, both companies are registered in England and Wales. N Johnson is the ultimate controlling party.

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