Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-302023-12-302022-12-31falseNo description of principal activity55truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08736878 2022-12-31 2023-12-30 08736878 2021-12-31 2022-12-30 08736878 2023-12-30 08736878 2022-12-30 08736878 c:Director1 2022-12-31 2023-12-30 08736878 d:FurnitureFittings 2023-12-30 08736878 d:FurnitureFittings 2022-12-30 08736878 d:OfficeEquipment 2022-12-31 2023-12-30 08736878 d:OfficeEquipment 2023-12-30 08736878 d:OfficeEquipment 2022-12-30 08736878 d:ComputerEquipment 2022-12-31 2023-12-30 08736878 d:CurrentFinancialInstruments 2023-12-30 08736878 d:CurrentFinancialInstruments 2022-12-30 08736878 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-30 08736878 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-30 08736878 d:ShareCapital 2023-12-30 08736878 d:ShareCapital 2022-12-30 08736878 d:RetainedEarningsAccumulatedLosses 2023-12-30 08736878 d:RetainedEarningsAccumulatedLosses 2022-12-30 08736878 c:OrdinaryShareClass1 2022-12-31 2023-12-30 08736878 c:OrdinaryShareClass1 2023-12-30 08736878 c:OrdinaryShareClass1 2022-12-30 08736878 c:FRS102 2022-12-31 2023-12-30 08736878 c:AuditExempt-NoAccountantsReport 2022-12-31 2023-12-30 08736878 c:FullAccounts 2022-12-31 2023-12-30 08736878 c:PrivateLimitedCompanyLtd 2022-12-31 2023-12-30 08736878 2 2022-12-31 2023-12-30 08736878 e:PoundSterling 2022-12-31 2023-12-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 08736878









LOGICAL OPERATIONS (UK) LTD

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 DECEMBER 2023

 
LOGICAL OPERATIONS (UK) LTD
REGISTERED NUMBER: 08736878

BALANCE SHEET
AS AT 30 DECEMBER 2023

2023
2022
Note
$
$

Fixed assets
  

Tangible assets
 4 
1
1

  
1
1

Current assets
  

Debtors: amounts falling due within one year
 5 
4,678,045
2,957,592

Cash at bank and in hand
 6 
145,942
317,165

  
4,823,987
3,274,757

Creditors: amounts falling due within one year
 7 
(3,335,758)
(2,130,756)

Net current assets
  
 
 
1,488,229
 
 
1,144,001

Total assets less current liabilities
  
1,488,230
1,144,002

  

Net assets
  
1,488,230
1,144,002


Capital and reserves
  

Called up share capital 
 8 
1
1

Profit and loss account
  
1,488,229
1,144,001

  
1,488,230
1,144,002


Page 1

 
LOGICAL OPERATIONS (UK) LTD
REGISTERED NUMBER: 08736878

BALANCE SHEET (CONTINUED)
AS AT 30 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 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 on 20 September 2024.




Mr Z A Rosenthal
Director

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

Page 2

 
LOGICAL OPERATIONS (UK) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2023

1.


General information

Logical Operations (UK) Ltd is a private company, limited by shares, domiciled and incorporated in England and Wales, with company registration number 08736878. The registered office is Anglia House, 6 Central Avenue, St Andrews Business Park, Thorpe St Andrew, Norwich, Norfolk, NR7 0HR.

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 presentational currency is USD. The company's functional currency is also USD due to the primary economic environment in which the assets and liabilities of the company exists and the methods of determining and influences on its sale prices.

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.

 
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.

 
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.

Page 3

 
LOGICAL OPERATIONS (UK) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Interest income

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

 
2.6

Finance costs

Finance costs are charged to profit or loss 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.

 
2.7

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.

 
2.8

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 balance sheet date in the countries where the Company operates and generates income.

 
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.

Depreciation is provided on the following basis:

Website
-
33% straight line
Office equipment
-
33% 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.

Page 4

 
LOGICAL OPERATIONS (UK) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

Debtors

Short-term debtors are measured at transaction price, 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..

 
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.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2022 - 5).


4.


Tangible fixed assets





Website
Office equipment
Total

$
$
$



Cost or valuation


At 31 December 2022
15,266
2,719
17,985



At 30 December 2023

15,266
2,719
17,985



Depreciation


At 31 December 2022
15,266
2,718
17,984



At 30 December 2023

15,266
2,718
17,984



Net book value



At 30 December 2023
-
1
1



At 30 December 2022
-
1
1

Page 5

 
LOGICAL OPERATIONS (UK) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2023

5.


Debtors

2023
2022
$
$


Trade debtors
949,469
293,423

Other debtors
3,728,576
2,662,153

Prepayments
-
2,016

4,678,045
2,957,592



6.


Cash and cash equivalents

2023
2022
$
$

Cash at bank and in hand
145,942
317,165



7.


Creditors: Amounts falling due within one year

2023
2022
$
$

Trade creditors
1,287,322
564,661

Corporation tax
105,996
-

Other taxation and social security
5,787
20,532

Other creditors
1,922,152
1,533,797

Accruals and deferred income
14,501
11,766

3,335,758
2,130,756


Page 6

 
LOGICAL OPERATIONS (UK) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2023

8.


Share capital

2023
2022
$
$
Allotted, called up and fully paid



1 (2022 - 1) Ordinary share of £1.00
1
1



9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately 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 $8,099 (2022 $8,541). Contributions totalling $959 (2022 $1,210) were payable to the fund at the balance sheet date.


10.


Related party transactions

During the year the company had transactions with Logical Operations Inc, a company controlled by the director. Management charges were made from Logical Operations Inc to Logical Operations (UK) Limited for $360,000 (2022 $360,000) for charges that relate to the year ended 30 December 2023. The amount due from Logical Operations Inc at the year end was $3,656,856 (2022 $2,495,864)
During the year the company had transactions with Logical Operations Asia Pte Ltd, a company controlled by the director. The amount due to Logical Operations Asia Pte Ltd at the year end was $1,564,172 (2022 $1,303,160 due from Logical Operations Asia Pte Ltd).
During the year the company had transactions with Communispound Inc, a company controlled by the director. Management charges were made from Communispound Inc to Logical Operations (UK) Limited for $72,000 (2021 $65,000) for charges that relate to the year ended 30 December 2023. The amount due from Communispound Inc at the year end was $66,050 (2022 $136,960).
During the year the company had transactions with Logical Operations Canada, a company controlled by the director. The amount due from Logical Operations Canada at the year end was $4,508 (2022 $3,849).
During the year the company had transactions with Cert Nexus, a company controlled by the director. The amount due to Cert Nexus at the year end was $247,101 (2022 $147,020).


Page 7