Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312024-05-24falsefalseThe principal activity of the Company during the financial year was the provision of technology based information services.99567true2023-01-012020trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09405147 2023-01-01 2023-12-31 09405147 2022-01-01 2022-12-31 09405147 2023-12-31 09405147 2022-12-31 09405147 2022-01-01 09405147 c:Director2 2023-01-01 2023-12-31 09405147 d:PlantMachinery 2023-01-01 2023-12-31 09405147 d:PlantMachinery 2023-12-31 09405147 d:PlantMachinery 2022-12-31 09405147 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09405147 d:OfficeEquipment 2023-01-01 2023-12-31 09405147 d:OfficeEquipment 2023-12-31 09405147 d:OfficeEquipment 2022-12-31 09405147 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09405147 d:ComputerEquipment 2023-01-01 2023-12-31 09405147 d:ComputerEquipment 2023-12-31 09405147 d:ComputerEquipment 2022-12-31 09405147 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09405147 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09405147 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 09405147 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 09405147 d:ComputerSoftware 2023-12-31 09405147 d:ComputerSoftware 2022-12-31 09405147 d:CurrentFinancialInstruments 2023-12-31 09405147 d:CurrentFinancialInstruments 2022-12-31 09405147 d:Non-currentFinancialInstruments 2023-12-31 09405147 d:Non-currentFinancialInstruments 2022-12-31 09405147 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 09405147 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 09405147 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 09405147 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 09405147 d:ShareCapital 2023-01-01 2023-12-31 09405147 d:ShareCapital 2023-12-31 09405147 d:ShareCapital 2022-01-01 2022-12-31 09405147 d:ShareCapital 2022-12-31 09405147 d:ShareCapital 2022-01-01 09405147 d:SharePremium 2023-01-01 2023-12-31 09405147 d:SharePremium 2023-12-31 09405147 d:SharePremium 2022-01-01 2022-12-31 09405147 d:SharePremium 2022-12-31 09405147 d:SharePremium 2022-01-01 09405147 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 09405147 d:RetainedEarningsAccumulatedLosses 2023-12-31 09405147 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 09405147 d:RetainedEarningsAccumulatedLosses 2022-12-31 09405147 d:RetainedEarningsAccumulatedLosses 2022-01-01 09405147 c:FRS102 2023-01-01 2023-12-31 09405147 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09405147 c:FullAccounts 2023-01-01 2023-12-31 09405147 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09405147 d:WithinOneYear 2023-12-31 09405147 d:WithinOneYear 2022-12-31 09405147 d:BetweenOneFiveYears 2023-12-31 09405147 d:BetweenOneFiveYears 2022-12-31 09405147 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 09405147 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 09405147 d:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 09405147 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 09405147
















KLARIAN LIMITED


UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

































KLARIAN LIMITED
REGISTERED NUMBER:09405147

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible fixed assets
  
4,313,340
3,455,896

Tangible fixed assets
  
2,695
3,875

  
4,316,035
3,459,771

Current assets
  

Debtors: amounts falling due within one year
 6 
383,818
305,665

Cash at bank and in hand
  
30,286
69,452

  
414,104
375,117

Creditors: amounts falling due within one year
 7 
(940,725)
(566,759)

Net current liabilities
  
 
 
(526,621)
 
 
(191,642)

Total assets less current liabilities
  
3,789,414
3,268,129

Creditors: amounts falling due after more than one year
 8 
(1,129,150)
(307,666)

Provisions for liabilities
  

Deferred tax
  
(1,071,998)
(850,220)

  
 
 
(1,071,998)
 
 
(850,220)

Net assets
  
1,588,266
2,110,243


Capital and reserves
  

Called up share capital 
 9 
4,429
4,340

Share premium account
  
5,077,606
4,886,383

Profit and loss account
  
(3,493,769)
(2,780,480)

  
1,588,266
2,110,243


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 by: 


KLARIAN LIMITED
REGISTERED NUMBER:09405147
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023






Mr D R H Clegg
Director

Date: 24 May 2024

The notes on  form part of these financial statements.


KLARIAN LIMITED


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£

At 1 January 2023
4,340
4,886,383
(2,780,480)
2,110,243


Comprehensive income for the year

Loss for the year
-
-
(713,289)
(713,289)
Total comprehensive income for the year
-
-
(713,289)
(713,289)


Contributions by and distributions to owners

Shares issued during the year
89
191,223
-
191,312


Total transactions with owners
89
191,223
-
191,312


At 31 December 2023
4,429
5,077,606
(3,493,769)
1,588,266


The notes on  form part of these financial statements.


KLARIAN LIMITED


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2022


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£

At 1 January 2022
2,960
3,085,784
(1,375,804)
1,712,940


Comprehensive income for the year

Loss for the year
-
-
(1,404,676)
(1,404,676)
Total comprehensive income for the year
-
-
(1,404,676)
(1,404,676)


Contributions by and distributions to owners

Shares issued during the year
1,380
1,800,599
-
1,801,979


Total transactions with owners
1,380
1,800,599
-
1,801,979


At 31 December 2022
4,340
4,886,383
(2,780,480)
2,110,243


The notes on  form part of these financial statements.


KLARIAN LIMITED

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

1.


GENERAL INFORMATION

Klarian Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006  and is registered in England and Wales (registered number: 09405147). The address of the Company's registered office is 2nd Floor Stratus House Emperor Way, Exeter Business Park, Exeter, EX1 3QS, United Kingdom.

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

GOING CONCERN

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements. 

 
2.3

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP and rounded to the nearest £.

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'.



KLARIAN LIMITED

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

2.ACCOUNTING POLICIES (continued)

 
2.4

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

 
2.5

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.

 
2.6

RESEARCH AND DEVELOPMENT

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.



KLARIAN LIMITED

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

2.ACCOUNTING POLICIES (continued)

 
2.7

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 comprehensive income in the same period as the related expenditure.

 
2.8

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.

 
2.9

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.10

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 Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.11

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 reporting 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 reporting 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 reporting date.



KLARIAN LIMITED

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

2.ACCOUNTING POLICIES (continued)

 
2.12

INTANGIBLE ASSETS

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.13

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:

Plant and machinery
-
33%
straight line
Office equipment
-
20%
straight line
Computer 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.

 
2.14

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.

 
2.15

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.

 
2.16

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.



KLARIAN LIMITED

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

2.ACCOUNTING POLICIES (continued)

 
2.17

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.

 
2.18

FINANCIAL INSTRUMENTS

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

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.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate


KLARIAN LIMITED

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

2.ACCOUNTING POLICIES (continued)


2.18
FINANCIAL INSTRUMENTS (CONTINUED)

method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 20 (2022: 20).


4.


INTANGIBLE ASSETS




Development expenditure
Computer software
Total

£
£
£



COST


At 1 January 2023
3,455,896
19,036
3,474,932


Additions
857,444
-
857,444



At 31 December 2023

4,313,340
19,036
4,332,376



AMORTISATION


At 1 January 2023
-
19,036
19,036



At 31 December 2023

-
19,036
19,036



NET BOOK VALUE



At 31 December 2023
4,313,340
-
4,313,340



At 31 December 2022
3,455,896
-
3,455,896





KLARIAN LIMITED

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

5.


TANGIBLE FIXED ASSETS





Plant and machinery
Office equipment
Computer equipment
Total

£
£
£
£



COST OR VALUATION


At 1 January 2023
14,656
8,818
12,183
35,657


Disposals
(3,707)
-
-
(3,707)



At 31 December 2023

10,949
8,818
12,183
31,950



DEPRECIATION


At 1 January 2023
14,656
5,166
11,960
31,782


Charge for the year on owned assets
-
1,168
12
1,180


Disposals
(3,707)
-
-
(3,707)



At 31 December 2023

10,949
6,334
11,972
29,255



NET BOOK VALUE



At 31 December 2023
-
2,484
211
2,695



At 31 December 2022
-
3,652
223
3,875


6.


DEBTORS

2023
2022
£
£


Trade debtors
90,417
-

Other debtors
13,796
48,738

Called up share capital not paid
-
20,016

Prepayments and accrued income
13,299
20,358

Tax recoverable
249,866
211,865

VAT recoverable
16,440
4,688

383,818
305,665




KLARIAN LIMITED

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

7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Bank overdrafts
23,407
21,894

Bank loans
10,000
10,000

Other loans
311,150
224,838

Trade creditors
218,226
173,454

Other taxation and social security
269,230
51,927

Other creditors
50,170
76,644

Accruals and deferred income
58,542
8,002

940,725
566,759


The following liabilities were secured:




Details of security provided:

The other loans of £311,150 (2022: £224,838) are secured by a fixed and floating charge over the tangible assets and intellectual property of the company.


8.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023
2022
£
£

Bank loans
16,527
26,654

Other loans
1,112,623
281,012

1,129,150
307,666


Within other loans, £192,000 (2022: £224,838) are secured by fixed and floating charges over the tangible assets and intellectual property of the company.


9.


SHARE CAPITAL

2023
2022
£
£
AUTHORISED, ALLOTTED, CALLED UP AND FULLY PAID



442,870 (2022: 434,002) Ordinary shares of £0.01 each
4,429
4,340


On 8 March 2023, 2,160 £0.01 shares were issued for a total consideration of £37,498
On 16 June 2023, 6,708 £0.01 shares were issued for a total consideration of £153,814



KLARIAN LIMITED

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

10.


PENSION COMMITMENTS

The Company operates a defined contribution 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 £29,576 (2022: £24,424). At 31 December 2023, there was £4,273 of unpaid contributions due to the fund included in other creditors (2022: £5,400).


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
36,766
37,565

Later than 1 year and not later than 5 years
31,733
31,733

68,499
69,298


12.


RELATED PARTY TRANSACTIONS

During the year, the directors of the company maintained a current account with the company. At the year end, the company owed the directors £99,567 (2022: £Nil). Interest has been charged where an agreement is in place and there are no set repayment terms.