Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-313536The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-01-01falseThe principal activity of the company during the year was the development and retail of document management solutions software and associated products.falsetrue 07451272 2023-01-01 2023-12-31 07451272 2022-01-01 2022-12-31 07451272 2023-12-31 07451272 2022-12-31 07451272 c:Director3 2023-01-01 2023-12-31 07451272 d:OfficeEquipment 2023-01-01 2023-12-31 07451272 d:OfficeEquipment 2023-12-31 07451272 d:OfficeEquipment 2022-12-31 07451272 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07451272 d:CurrentFinancialInstruments 2023-12-31 07451272 d:CurrentFinancialInstruments 2022-12-31 07451272 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 07451272 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 07451272 d:ShareCapital 2023-12-31 07451272 d:ShareCapital 2022-12-31 07451272 d:SharePremium 2023-12-31 07451272 d:SharePremium 2022-12-31 07451272 d:RetainedEarningsAccumulatedLosses 2023-12-31 07451272 d:RetainedEarningsAccumulatedLosses 2022-12-31 07451272 c:FRS102 2023-01-01 2023-12-31 07451272 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 07451272 c:FullAccounts 2023-01-01 2023-12-31 07451272 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07451272 d:Subsidiary1 2023-01-01 2023-12-31 07451272 d:Subsidiary1 1 2023-01-01 2023-12-31 07451272 d:Subsidiary2 2023-01-01 2023-12-31 07451272 d:Subsidiary2 1 2023-01-01 2023-12-31 07451272 d:WithinOneYear 2023-12-31 07451272 d:WithinOneYear 2022-12-31 07451272 d:BetweenOneFiveYears 2023-12-31 07451272 d:BetweenOneFiveYears 2022-12-31 07451272 2 2023-01-01 2023-12-31 07451272 6 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 07451272










DOCUMENT LOGISTIX LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
DOCUMENT LOGISTIX LIMITED
REGISTERED NUMBER: 07451272

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
22,103
15,271

Investments
 5 
55,203
55,203

  
77,306
70,474

Current assets
  

Debtors
 6 
562,006
790,412

Cash at bank and in hand
  
4,516,734
3,563,542

  
5,078,740
4,353,954

Creditors: amounts falling due within one year
 7 
(1,210,787)
(744,770)

Net current assets
  
 
 
3,867,953
 
 
3,609,184

Total assets less current liabilities
  
3,945,259
3,679,658

  

Net assets
  
3,945,259
3,679,658


Capital and reserves
  

Called up share capital 
  
200
200

Share premium account
  
99,990
99,990

Profit and loss account
  
3,845,069
3,579,468

  
3,945,259
3,679,658


Page 1

 
DOCUMENT LOGISTIX LIMITED
REGISTERED NUMBER: 07451272
    
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 comprehensive income 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: 




................................................
Mr D Wajzner
Director

Date: 12 September 2024

The notes on pages 3 to 11 form part of these financial statements.

Page 2

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

1.


General information

Document Logistix Limited ("the Company") is a private company limited by shares, incorporated in
England and Wales under the Companies Act. 
The registered number and address of the registered office are given in the Company information.
The functional and presentational currency of the Company is pounds sterling (£) and rounded to the
nearest whole pound.

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 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 Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

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

2.Accounting policies (continued)

 
2.3

Revenue recognition

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:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

 
2.4

Interest income

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

 
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 other creditors 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 LOGISTIX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
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 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.

 
2.7

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:

Office equipment
-
33%

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.

Page 5

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

2.Accounting policies (continued)

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

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.

 
2.13

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.

Page 6

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

2.Accounting policies (continued)

  
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.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
Investments in non-derivative instruments that are equity to the issuer are measured:
•        at fair value with changes recognised in the Statement of Comprehensive Income if the shares     are publicly traded or their fair value can otherwise be measured reliably;
•          at cost less impairment for all other investments.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive Income.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.
Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 36 (2022 - 35).

Page 7

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

4.


Tangible fixed assets





Office equipment

£



Cost


At 1 January 2023
122,187


Additions
17,026



At 31 December 2023

139,213



Depreciation


At 1 January 2023
106,916


Charge for the year on owned assets
10,194



At 31 December 2023

117,110



Net book value



At 31 December 2023
22,103



At 31 December 2022
15,271

Page 8

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

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost


At 1 January 2023
55,203



At 31 December 2023
55,203





Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Registered office

Class of shares

Holding

Tokairo Holdings Inc
USA
Ordinary
100%
PBN Show 808 Limited
UK
Ordinary
100%

Page 9

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

6.


Debtors

2023
2022
£
£


Trade debtors
402,426
637,390

Amounts owed by group undertakings
40,532
101,895

Other debtors
109,448
42,474

Prepayments and accrued income
9,600
7,134

Deferred taxation
-
1,519

562,006
790,412


Amounts owed by group undertakings are unsecured, are interest free and repayable on demand.


7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
184,260
32,422

Amounts owed to group undertakings
11,090
11,090

Corporation tax
249,183
209,517

Other taxation and social security
214,423
213,686

Other creditors
15,330
6,116

Accruals and deferred income
536,501
271,939

1,210,787
744,770


Amounts owed to group undertakings are unsecured, are interest free and repayable on demand.


8.


Pension commitments

The company contributes to a defined contribution pension scheme. Contributions totalling £21,441 (2022: £15,364) were outstanding at the year end and this balance is inluded within other creditors.

Page 10

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

9.


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
£
£


Not later than 1 year
65,000
65,000

Later than 1 year and not later than 5 years
81,250
146,250

146,250
211,250


10.


Transactions with directors

During the year, advances totalling £40,000 (2022: £40,000) and repayments of £nil (2022: £49,850) were made to/by a director. Interest was charged on this loan totalling £nil (2022: £nil). The balance at the year end on this loan account and included within other debtors was £81,830 (2022: £41,830).

 
Page 11