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Registration number: 08681337

Client Share Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Client Share Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Client Share Ltd

Company Information

Directors

James Jonathan Ward

David James Griffiths

David Clive Kirby

Geraldine Osman

Martin Hugo Hess

John Phillips McMonigall

Registered office

86-90 Paul Street
London
EC2A 4NE

Accountants

CityTrust Accounts Limited
Innovation Centre
Knowledge Gateway
Boundary Road
Colchester
CO4 3ZQ

 

Client Share Ltd

(Registration number: 08681337)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

12,032

9,939

Current assets

 

Debtors

5

848,889

855,278

Cash at bank and in hand

 

1,011,097

823,884

 

1,859,986

1,679,162

Creditors: Amounts falling due within one year

6

(483,647)

(317,946)

Net current assets

 

1,376,339

1,361,216

Net assets

 

1,388,371

1,371,155

Capital and reserves

 

Called up share capital

7

4,701

4,504

Share premium reserve

3,177,722

2,739,095

Capital redemption reserve

96,891

68,292

Retained earnings

(1,890,943)

(1,440,736)

Shareholders' funds

 

1,388,371

1,371,155

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 September 2024 and signed on its behalf by:
 

.........................................
James Jonathan Ward
Director

.........................................
David James Griffiths
Director

 
     
 

Client Share Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
86-90 Paul Street
London
EC2A 4NE

These financial statements were authorised for issue by the Board on 12 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Client Share Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer Equipment

25% Straight Line Method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Client Share Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Share based payments

The company operates an EMI qualifying share option scheme. As at 31 December 2022, the company had granted 258,050 share options to 14 employees.

The share options have vesting periods of 3 years, vesting at 15% on the first anniversary, 35% on the second anniversary and 50% on the third anniversary.

The share based payment charge within the year was £28,598 (2022: £22,020).
 

Research and development
Expenditure on research and development is written off in the year in which it is incurred. Where appropriate, the development expenditure is capitalised and amortised over its useful economic life.


Research and development tax credit
During the financial year, Client Share Ltd received a tax credit for qualifying research and development expenditure under the Research and Development tax releif scheme. This is presented as a tax repayment in the Statement of Profit and Loss in line with disclosure requirements under FRS102.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 22 (2022 - 18).

 

Client Share Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

18,712

18,712

Additions

7,668

7,668

Disposals

(3,010)

(3,010)

At 31 December 2023

23,370

23,370

Depreciation

At 1 January 2023

8,773

8,773

Charge for the year

6,091

6,091

Eliminated on disposal

(3,526)

(3,526)

At 31 December 2023

11,338

11,338

Carrying amount

At 31 December 2023

12,032

12,032

At 31 December 2022

9,939

9,939

5

Debtors

Current

2023
£

2022
£

Trade debtors

816,117

820,735

Prepayments

2,008

22,663

Other debtors

30,764

11,880

 

848,889

855,278

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

21,514

14,993

Taxation and social security

267,519

179,453

Accruals and deferred income

186,578

114,481

Other creditors

8,036

9,019

483,647

317,946

 

Client Share Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary Shares of £0.00 each

3,328,772

3,329

3,314,077

3,314

A Ordinary Shares of £0.00 each

1,371,944

1,372

1,190,252

1,190

4,700,716

4,701

4,504,329

4,504

8

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

148,448

131,000