Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-05-162023-12-312024-05-2302024-05-23political intelligence monitoring, research and consulting services in the UK and EU2023-01-01false4339truetrue 08297488 2022-01-01 2022-12-31 08297488 2023-01-01 2023-12-31 08297488 2023-12-31 08297488 2022-12-31 08297488 c:Director1 2023-01-01 2023-12-31 08297488 c:Director2 2023-01-01 2023-12-31 08297488 c:Director2 2023-12-31 08297488 c:Director3 2023-01-01 2023-12-31 08297488 c:Director3 2023-12-31 08297488 c:Director4 2023-01-01 2023-12-31 08297488 c:Director4 2023-12-31 08297488 c:RegisteredOffice 2023-01-01 2023-12-31 08297488 d:FurnitureFittings 2023-01-01 2023-12-31 08297488 d:FurnitureFittings 2023-12-31 08297488 d:FurnitureFittings 2022-12-31 08297488 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08297488 d:OfficeEquipment 2023-01-01 2023-12-31 08297488 d:OfficeEquipment 2023-12-31 08297488 d:OfficeEquipment 2022-12-31 08297488 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08297488 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08297488 d:Goodwill 2023-01-01 2023-12-31 08297488 d:ComputerSoftware 2023-12-31 08297488 d:ComputerSoftware 2022-12-31 08297488 d:CurrentFinancialInstruments 2023-12-31 08297488 d:CurrentFinancialInstruments 2022-12-31 08297488 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 08297488 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 08297488 d:SharePremium 2023-12-31 08297488 d:SharePremium 2022-12-31 08297488 d:RetainedEarningsAccumulatedLosses 2023-12-31 08297488 d:RetainedEarningsAccumulatedLosses 2022-12-31 08297488 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 08297488 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 08297488 c:OrdinaryShareClass1 2023-01-01 2023-12-31 08297488 c:OrdinaryShareClass1 2023-12-31 08297488 c:OrdinaryShareClass1 2022-12-31 08297488 c:FRS102 2023-01-01 2023-12-31 08297488 c:Audited 2023-01-01 2023-12-31 08297488 c:FullAccounts 2023-01-01 2023-12-31 08297488 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08297488 d:WithinOneYear 2023-12-31 08297488 d:WithinOneYear 2022-12-31 08297488 d:BetweenOneFiveYears 2023-12-31 08297488 d:BetweenOneFiveYears 2022-12-31 08297488 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08297488 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 08297488 d:ComputerSoftware d:OwnedIntangibleAssets 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure
Company registration number: 08297488







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


DE HAVILLAND INFORMATION SERVICES LIMITED






































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DE HAVILLAND INFORMATION SERVICES LIMITED
 


 
COMPANY INFORMATION


Directors
Andrew Himsley 
Mark Hine (appointed 27 September 2023)
Robert Stansfield (resigned 16 May 2023)
Stella Donoghue (resigned 4 August 2023)




Registered number
08297488



Registered office
154-160 Fleet Street

London

EC4A 2DQ




Independent auditors
Menzies LLP
Chartered Accountants & Statutory Auditor

Lynton House

7-12 Tavistock Square

London

WC1H 9LT





 


DE HAVILLAND INFORMATION SERVICES LIMITED
 



CONTENTS



Page
Statement of financial position
1
Notes to the financial statements
2 - 9


 


DE HAVILLAND INFORMATION SERVICES LIMITED
REGISTERED NUMBER:08297488



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£000
£000

Fixed assets
  

Intangible assets
 4 
601
441

Tangible assets
 5 
91
74

  
692
515

Current assets
  

Debtors: amounts falling due within one year
 6 
7,971
5,711

Cash at bank and in hand
  
484
1,099

  
8,455
6,810

Creditors: amounts falling due within one year
 7 
(4,531)
(3,320)

Net current assets
  
 
 
3,924
 
 
3,490

Total assets less current liabilities
  
4,616
4,005

Provisions for liabilities
  

Deferred tax
  
(43)
-

  
 
 
(43)
 
 
-

Net assets
  
4,573
4,005


Capital and reserves
  

Share premium account
  
2,000
2,000

Profit and loss account
  
2,573
2,005

  
4,573
4,005


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 profit and loss account 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: 


Mark Hine
Director

Date: 23 May 2024

The notes on pages 2 to 9 form part of these financial statements.

Page 1

 


DE HAVILLAND INFORMATION SERVICES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

De Havilland Information Services Limited ("the Company") is a company limited by shares and incorporated in England and Wales. The principal place of business is 154-160 Fleet Street, London, EC4A 2DQ.

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.

The financial statements are presented in thousands of pounds sterling to the nearest £'000.
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 (see note 3).

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'.

 
2.3

Revenue

Revenue is measured based on the consideration specified in a contract with a customer. If multiple performance obligations exist within a contract, the revenue is allocated to the obligations based on the standalone selling price, with any discounts allocated evenly across the obligations. For contracts with rebates and therefore variable consideration, revenue is recognised based on the best estimate of the revenue net of the rebated amount. Revenue is recognised when the Company satisfies the performance obligations. Pre-paid subscription and event revenues are shown as deferred income and released to the profit and loss in accordance with the revenue recognition criteria above.

Page 2

 


DE HAVILLAND INFORMATION SERVICES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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.

 
2.6

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 reporting 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 reporting 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 reporting date.

 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Software
-
2-5 years

Page 3

 


DE HAVILLAND INFORMATION SERVICES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

  
2.8

Development costs

Costs relating to the development of a software platform are capitalised as intangible assets when it becomes
apparent that the asset will generate probable future economic benefits, the Company has adequate resources to complete the development of the platform, completion of the platform is technically feasible and the Company has the intention to complete the developments to the platform and use it. Development costs are only amortised when the software is available for use.

 
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.

The estimated useful lives range as follows:

Fixtures and fittings
-
                          5 years
Office equipment
-
                          2-5 years

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.

 
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.

Page 4

 


DE HAVILLAND INFORMATION SERVICES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.13

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 reporting 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 Statement of financial position.
 
2.14

Financial instruments

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, loans from banks and other third parties, loans
to related parties and investments in ordinary shares.

 
2.15

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 43 (2022 - 39).

Page 5

 


DE HAVILLAND INFORMATION SERVICES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Intangible assets




Software

£000



Cost


At 1 January 2023
762


Additions
373



At 31 December 2023

1,135



Amortisation


At 1 January 2023
321


Charge for the year on owned assets
213



At 31 December 2023

534



Net book value



At 31 December 2023
601



At 31 December 2022
441



Page 6

 


DE HAVILLAND INFORMATION SERVICES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£000
£000
£000



Cost 


At 1 January 2023
29
102
131


Additions
18
26
44



At 31 December 2023

47
128
175



Depreciation


At 1 January 2023
9
49
58


Charge for the year on owned assets
8
18
26



At 31 December 2023

17
67
84



Net book value



At 31 December 2023
30
61
91



At 31 December 2022
20
54
74


6.


Debtors

2023
2022
£000
£000


Trade debtors
1,509
1,060

Amounts owed by group undertakings
6,238
4,399

Other debtors
50
68

Prepayments and accrued income
141
118

Tax recoverable
33
64

Deferred Taxation
-
2

7,971
5,711


Page 7

 


DE HAVILLAND INFORMATION SERVICES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£000
£000

Trade creditors
157
214

Amounts owed to group undertakings
167
-

Other taxation and social security
394
250

Other creditors
155
19

Accruals and deferred income
3,658
2,837

4,531
3,320



8.


Deferred taxation




2023


£000






At beginning of year
2


Charged to profit or loss
(45)



At end of year
(43)

The deferred taxation balance is made up as follows:

2023
2022
£000
£000


Accelerated capital allowances
(43)
2

(43)
2


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



4 (2022 - 4) Fully Paid shares of £1.00 each
4
4



10.


Commitments and contingencies

On 26 February 2021, the Group entered into a New Facilities Agreement of £7.5 million and a revolving facility of £0.5 million. On 22nd February 2023, the Group extended the New Facilities Agreement by £6.5 million. The Company was identified as a guarantor to the New Facilities Agreement.

Page 8

 


DE HAVILLAND INFORMATION SERVICES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

11.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£000
£000


Not later than 1 year
135
34

Later than 1 year and not later than 5 years
46
-

181
34


12.


Parent company

The results of the Company are consolidated into the financial statements of BG Topco 5 Limited a company registered in England and Wales. Copies of BG Topco 5 Limited's accounts can be obtained from Companies House. The address of their registered office is 154-160 Fleet Street, London, EC4A 2DQ.


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 23 May 2024 by Ralph Mitchison FCA (Senior statutory auditor) on behalf of Menzies LLP.

 
Page 9