Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-0120false62020 - Information technology consultancy activities17falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04285360 2023-01-01 2023-12-31 04285360 2022-01-01 2022-12-31 04285360 2023-12-31 04285360 2022-12-31 04285360 c:Director1 2023-01-01 2023-12-31 04285360 d:Buildings d:LongLeaseholdAssets 2023-01-01 2023-12-31 04285360 d:Buildings d:LongLeaseholdAssets 2023-12-31 04285360 d:Buildings d:LongLeaseholdAssets 2022-12-31 04285360 d:OfficeEquipment 2023-01-01 2023-12-31 04285360 d:OfficeEquipment 2023-12-31 04285360 d:OfficeEquipment 2022-12-31 04285360 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04285360 d:ComputerEquipment 2023-01-01 2023-12-31 04285360 d:ComputerEquipment 2023-12-31 04285360 d:ComputerEquipment 2022-12-31 04285360 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04285360 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04285360 d:CurrentFinancialInstruments 2023-12-31 04285360 d:CurrentFinancialInstruments 2022-12-31 04285360 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 04285360 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 04285360 d:ShareCapital 2023-12-31 04285360 d:ShareCapital 2022-12-31 04285360 d:CapitalRedemptionReserve 2023-12-31 04285360 d:CapitalRedemptionReserve 2022-12-31 04285360 d:RetainedEarningsAccumulatedLosses 2023-12-31 04285360 d:RetainedEarningsAccumulatedLosses 2022-12-31 04285360 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 04285360 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 04285360 d:RetirementBenefitObligationsDeferredTax 2023-12-31 04285360 d:RetirementBenefitObligationsDeferredTax 2022-12-31 04285360 c:OrdinaryShareClass1 2023-01-01 2023-12-31 04285360 c:OrdinaryShareClass1 2023-12-31 04285360 c:OrdinaryShareClass1 2022-12-31 04285360 c:OrdinaryShareClass2 2023-01-01 2023-12-31 04285360 c:OrdinaryShareClass2 2023-12-31 04285360 c:OrdinaryShareClass2 2022-12-31 04285360 c:FRS102 2023-01-01 2023-12-31 04285360 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04285360 c:FullAccounts 2023-01-01 2023-12-31 04285360 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04285360 d:WithinOneYear 2023-12-31 04285360 d:WithinOneYear 2022-12-31 04285360 d:BetweenOneFiveYears 2023-12-31 04285360 d:BetweenOneFiveYears 2022-12-31 04285360 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 04285360










ITINERIS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
ITINERIS LIMITED
REGISTERED NUMBER: 04285360

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
33,367
38,962

  
33,367
38,962

Current assets
  

Debtors: amounts falling due within one year
 5 
471,880
386,795

Current asset investments
 6 
191,110
192,048

Cash at bank and in hand
 7 
758,676
998,159

  
1,421,666
1,577,002

Creditors: amounts falling due within one year
 8 
(405,763)
(511,060)

Net current assets
  
 
 
1,015,903
 
 
1,065,942

Total assets less current liabilities
  
1,049,270
1,104,904

Provisions for liabilities
  

Deferred tax
 9 
(5,047)
(5,735)

  
 
 
(5,047)
 
 
(5,735)

Net assets
  
1,044,223
1,099,169


Capital and reserves
  

Called up share capital 
 10 
1,600
1,600

Capital redemption reserve
  
1,400
1,400

Profit and loss account
  
1,041,223
1,096,169

  
1,044,223
1,099,169


Page 1

 
ITINERIS LIMITED
REGISTERED NUMBER: 04285360

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers 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 director acknowledges his 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.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




T B Butcher
Director

Date: 12 September 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
ITINERIS LIMITED
 

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

1.


General information

Itineris Limited is a private company limited by shares incorporated in England and Wales. The registered
office is Connexions 3rd Floor, 159 Princes Street, Ipswich, Suffolk, IP1 1QJ.

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 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.

 
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 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'.

 
2.3

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.

Page 3

 
ITINERIS 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.

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.

 
2.5

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 Balance Sheet. 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 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.

Page 4

 
ITINERIS LIMITED
 

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

2.Accounting policies (continued)


2.7
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:

Improvements to property
-
5 years straight line
Office equipment
-
2 to 5 years
Computer equipment
-
3 years 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.

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.12

Financial instruments

The Company 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 and loans to related parties.
Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly
Page 5

 
ITINERIS LIMITED
 

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

2.Accounting policies (continued)


2.12
Financial instruments (continued)

traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
Impairment of financial assets
Financial assets are assessed for indicators of impairment at each reporting date. 
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

 
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.


3.


Employees

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


        2023
        2022
            No.
            No.







Employees
20
17

Page 6

 
ITINERIS LIMITED
 

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

4.


Tangible fixed assets





Improvements to property
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2023
15,000
34,775
63,114
112,889


Additions
-
894
12,782
13,676



At 31 December 2023

15,000
35,669
75,896
126,565



Depreciation


At 1 January 2023
250
22,596
51,081
73,927


Charge for the year on owned assets
3,000
6,625
9,646
19,271



At 31 December 2023

3,250
29,221
60,727
93,198



Net book value



At 31 December 2023
11,750
6,448
15,169
33,367



At 31 December 2022
14,750
12,179
12,033
38,962


5.


Debtors

2023
2022
£
£


Trade debtors
400,432
314,649

Other debtors
25,042
24,750

Prepayments and accrued income
46,406
47,396

471,880
386,795



6.


Current asset investments

2023
2022
£
£

Other investments
191,110
192,048

191,110
192,048


Page 7

 
ITINERIS LIMITED
 

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

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
758,676
998,159

758,676
998,159



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
147,644
140,990

Corporation tax
48,362
175,568

Other taxation and social security
169,299
159,012

Other creditors
18,216
4,578

Accruals and deferred income
22,242
30,912

405,763
511,060


Included in the creditors above are unpaid pensions of £4,156 (2022 - £4,578).


9.


Deferred taxation




2023


£






At beginning of year
(5,735)


Charged to profit or loss
688



At end of year
(5,047)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(5,444)
(6,053)

Pension surplus
397
318

(5,047)
(5,735)

Page 8

 
ITINERIS LIMITED
 

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

10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,000 (2022 - 1,000) Ordinary shares of £1.00 each
1,000
1,000
600 (2022 - 600) C Ordinary shares of £1.00 each
600
600

1,600

1,600



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
£
£


Not later than 1 year
48,125
48,125

Later than 1 year and not later than 5 years
82,500
-

130,625
48,125


12.


Directors' transactions

The Director believes that all renumeration is paid under normal market conditions and therefore has elected not to disclose the amount of directors renumeration for the accounting period.


13.


Controlling party

The Company is controlled by T B Butcher, the Director of the Company, by virtue of his majority holding of voting shares.


Page 9