Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31No description of principal activity2023-01-01false37falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11172678 2023-01-01 2023-12-31 11172678 2022-01-01 2022-12-31 11172678 2023-12-31 11172678 2022-12-31 11172678 c:Director1 2023-01-01 2023-12-31 11172678 d:ComputerEquipment 2023-01-01 2023-12-31 11172678 d:ComputerEquipment 2023-12-31 11172678 d:ComputerEquipment 2022-12-31 11172678 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11172678 d:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 11172678 d:PatentsTrademarksLicencesConcessionsSimilar 2022-12-31 11172678 d:CurrentFinancialInstruments 2023-12-31 11172678 d:CurrentFinancialInstruments 2022-12-31 11172678 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11172678 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11172678 d:ShareCapital 2023-12-31 11172678 d:ShareCapital 2022-12-31 11172678 d:RetainedEarningsAccumulatedLosses 2023-12-31 11172678 d:RetainedEarningsAccumulatedLosses 2022-12-31 11172678 c:FRS102 2023-01-01 2023-12-31 11172678 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11172678 c:FullAccounts 2023-01-01 2023-12-31 11172678 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11172678 d:PatentsTrademarksLicencesConcessionsSimilar d:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 11172678 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 11172678









COMMERCEBLOCK LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
COMMERCEBLOCK LIMITED
REGISTERED NUMBER: 11172678

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
  
331,068
-

Tangible assets
 5 
4,403
1,737

  
335,471
1,737

Current assets
  

Debtors: amounts falling due within one year
 6 
12,344
18,049

Cash at bank and in hand
 7 
37,200
103,353

  
49,544
121,402

Creditors: amounts falling due within one year
 8 
(35,213)
(29,518)

Net current assets
  
 
 
14,331
 
 
91,884

Total assets less current liabilities
  
349,802
93,621

  

Net assets
  
349,802
93,621


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
349,801
93,620

  
349,802
93,621


Page 1

 
COMMERCEBLOCK LIMITED
REGISTERED NUMBER: 11172678
    
STATEMENT OF FINANCIAL POSITION (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 on 19 September 2024.




N Gregory
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

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

1.


General information

Commerceblock Ltd is a private company, limited by shares, registered in England and Wales,
registration number 11172678.
The registered office is 101 New Cavendish Street, 1st Floor South, London, United Kingdom, W1W 6XH.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 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

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

2.Accounting policies (continued)

 
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.

 
2.4

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 been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

 
2.5

Intangible assets

Intangible assets are digital assets held by the business and are measured under the cost model, less any accumulated impairment losses. The company considers that these digital and assets have an indefinite useful life and are therefore not amortised. 



 
2.6

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

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

2.Accounting policies (continued)


2.6
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:

Computer equipment
-
25%
Straight-line method

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.

 
2.7

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.

 
2.8

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.

 
2.9

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 7).

Page 5

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

4.


Intangible assets




Digital Assets

£



Cost


Additions
331,068



At 31 December 2023

331,068






Net book value



At 31 December 2023
331,068



At 31 December 2022
-




5.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 January 2023
15,386


Additions
4,546



At 31 December 2023

19,932



Depreciation


At 1 January 2023
13,649


Charge for the year on owned assets
1,880



At 31 December 2023

15,529



Net book value



At 31 December 2023
4,403



At 31 December 2022
1,737

Page 6

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

6.


Debtors

2023
2022
£
£


Other debtors
9,513
17,374

Prepayments and accrued income
2,831
675

12,344
18,049



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
37,200
103,353

37,200
103,353



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
808
2,691

Corporation tax
12,785
-

Other taxation and social security
7,622
16,598

Other creditors
859
1,032

Accruals and deferred income
13,139
9,197

35,213
29,518


 
Page 7