Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31Repairs and computer and peripheral equipment2023-01-01false67truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04942248 2023-01-01 2023-12-31 04942248 2022-01-01 2022-12-31 04942248 2023-12-31 04942248 2022-12-31 04942248 c:Director1 2023-01-01 2023-12-31 04942248 d:Buildings d:LongLeaseholdAssets 2023-01-01 2023-12-31 04942248 d:Buildings d:LongLeaseholdAssets 2023-12-31 04942248 d:Buildings d:LongLeaseholdAssets 2022-12-31 04942248 d:PlantMachinery 2023-01-01 2023-12-31 04942248 d:PlantMachinery 2023-12-31 04942248 d:PlantMachinery 2022-12-31 04942248 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04942248 d:MotorVehicles 2023-01-01 2023-12-31 04942248 d:MotorVehicles 2023-12-31 04942248 d:MotorVehicles 2022-12-31 04942248 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04942248 d:FurnitureFittings 2023-01-01 2023-12-31 04942248 d:FurnitureFittings 2023-12-31 04942248 d:FurnitureFittings 2022-12-31 04942248 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04942248 d:OfficeEquipment 2023-01-01 2023-12-31 04942248 d:OfficeEquipment 2023-12-31 04942248 d:OfficeEquipment 2022-12-31 04942248 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04942248 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04942248 d:CurrentFinancialInstruments 2023-12-31 04942248 d:CurrentFinancialInstruments 2022-12-31 04942248 d:Non-currentFinancialInstruments 2023-12-31 04942248 d:Non-currentFinancialInstruments 2022-12-31 04942248 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 04942248 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 04942248 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 04942248 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 04942248 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 04942248 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 04942248 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-12-31 04942248 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-12-31 04942248 d:ShareCapital 2023-12-31 04942248 d:ShareCapital 2022-12-31 04942248 d:RetainedEarningsAccumulatedLosses 2023-12-31 04942248 d:RetainedEarningsAccumulatedLosses 2022-12-31 04942248 c:FRS102 2023-01-01 2023-12-31 04942248 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04942248 c:FullAccounts 2023-01-01 2023-12-31 04942248 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04942248 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 04942248









LIBERTY-IZONE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
LIBERTY-IZONE LIMITED
REGISTERED NUMBER: 04942248

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible fixed assets
  
176,927
182,136

Current assets
  

Debtors: amounts falling due within one year
 5 
132,321
145,782

Cash at bank and in hand
  
175,899
104,492

  
308,220
250,274

Creditors: amounts falling due within one year
 6 
(272,346)
(155,343)

Net current assets
  
 
 
35,874
 
 
94,931

Total assets less current liabilities
  
212,801
277,067

Creditors: amounts falling due after more than one year
 7 
(37,051)
(60,571)

  

Net assets
  
175,750
216,496


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
175,748
216,494

  
175,750
216,496


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 comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
LIBERTY-IZONE LIMITED
REGISTERED NUMBER: 04942248
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 6 September 2024.




I M Davies
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
LIBERTY-IZONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Liberty-IZone Limited is a private company, limited by shares, registered in England and Wales,registration number 04942248. The registered office is Leytonstone House, 3 Hanbury Drive, Leytonstone, London, E11 1GA.

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.

The following principal accounting policies have been applied:

 
2.2

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. The following criteria must also be met before revenue is recognised:

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.

 
2.3

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.

Page 3

 
LIBERTY-IZONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

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:

Long-term leasehold property
-
over the period of the lease
Plant and machinery
-
20%
Motor vehicles
-
20%
Fixtures and fittings
-
20%
Office equipment
-
20%

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.

 
2.4

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. 

  
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the statement of income and retained earnings in the same period as the related expenditure.

  
2.6

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 exchangerates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Nonmonetary items measured at historical cost are translated using the exchange rate at the date of thetransaction and non-monetary items measured at fair value are measured using the exchange ratewhen fair value was determined.

Page 4

 
LIBERTY-IZONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

  
2.7

Finance costs

Finance costs are charged to the statement of income and retained earnings 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.

 
2.8

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.

  
2.9

 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.

  
2.10

Pensions

Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is apension 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.

  
2.11

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 beenenacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 5

 
LIBERTY-IZONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







IT consultancy and customer support
6
7


4.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 January 2023
193,755
21,055
6,720
2,474
30,649
254,653



At 31 December 2023

193,755
21,055
6,720
2,474
30,649
254,653



Depreciation


At 1 January 2023
20,400
19,936
6,720
791
24,670
72,517


Charge for the year on owned assets
2,040
420
-
495
2,254
5,209



At 31 December 2023

22,440
20,356
6,720
1,286
26,924
77,726



Net book value



At 31 December 2023
171,315
699
-
1,188
3,725
176,927



At 31 December 2022
173,355
1,119
-
1,683
5,979
182,136




The net book value of land and buildings may be further analysed as follows:


2023
2022
£
£

Long leasehold
171,315
173,355


Page 6

 
LIBERTY-IZONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
120,586
131,167

Other debtors
689
4,229

Prepayments and accrued income
11,046
10,386

132,321
145,782



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
25,435
23,277

Trade creditors
39,666
32,156

Corporation tax
41,884
35,891

Other taxation and social security
52,090
48,766

Other creditors
105,380
9,024

Accruals and deferred income
7,891
6,229

272,346
155,343



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
37,051
60,571


Page 7

 
LIBERTY-IZONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
25,435
23,277


Amounts falling due 2-5 years

Bank loans
35,136
60,571

Amounts falling due after more than 5 years

Bank loans
1,915
-

62,486
83,848



9.


Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are heldseparately 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 £4,366 (2022 - £4,463). No contributions (2022 - £Nil) were payable to the fund at the year end date.


10.


Related party transactions

The Directors had an interest in dividends of £220,000 (2022 - £106,000).

Page 8