Caseware UK (AP4) 2023.0.135 2023.0.135 2No description of principal activity2023-01-01false3truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10607888 2023-01-01 2023-12-31 10607888 2022-01-01 2022-12-31 10607888 2023-12-31 10607888 2022-12-31 10607888 c:Director2 2023-01-01 2023-12-31 10607888 d:ComputerEquipment 2023-01-01 2023-12-31 10607888 d:ComputerEquipment 2023-12-31 10607888 d:ComputerEquipment 2022-12-31 10607888 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10607888 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 10607888 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 10607888 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 10607888 d:CurrentFinancialInstruments 2023-12-31 10607888 d:CurrentFinancialInstruments 2022-12-31 10607888 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 10607888 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 10607888 d:ShareCapital 2023-12-31 10607888 d:ShareCapital 2022-12-31 10607888 d:SharePremium 2023-12-31 10607888 d:SharePremium 2022-12-31 10607888 d:RetainedEarningsAccumulatedLosses 2023-12-31 10607888 d:RetainedEarningsAccumulatedLosses 2022-12-31 10607888 c:FRS102 2023-01-01 2023-12-31 10607888 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 10607888 c:FullAccounts 2023-01-01 2023-12-31 10607888 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10607888 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 10607888 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-01-01 2023-12-31 10607888 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure


















Alacrity Law Limited























Unaudited

Financial statements



For the year ended 31 December 2023



Registered number: 10607888

 
Alacrity Law Limited - Registered number:10607888


Statement of financial position
As at 31 December 2023

2023
2023
2022
2022
Note
£
£
£
£

Fixed assets
  

Intangible assets
 4 
1,038,758
957,372

Tangible assets
 5 
1,695
1,675

  
1,040,453
959,047

Current assets
  

Debtors: amounts falling due within one year
 6 
547,570
520,961

Cash at bank and in hand
  
18,900
107,239

  
566,470
628,200

Creditors: amounts falling due within one year
 7 
(449,837)
(265,481)

Net current assets
  
 
 
116,633
 
 
362,719

Total assets less current liabilities
  
1,157,086
1,321,766

  

Net assets
  
1,157,086
1,321,766


Capital and reserves
  

Share capital
  
177
177

Share premium account
  
3,020,870
3,020,870

Profit and loss account
  
(1,863,961)
(1,699,281)

  
1,157,086
1,321,766


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.
Page 1

 
Alacrity Law Limited - Registered number:10607888


Statement of financial position (continued)
As at 31 December 2023


The company has opted not to file the statement of income and retained earnings 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: 




C D Thurn
Director

Date: 23 September 2024

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

Page 2

 
Alacrity Law Limited
 
 

Notes to the financial statements
For the year ended 31 December 2023

1.


General information

The company is a private company limited by shares and incorporated in England and Wales. Its registered office is C/O Buzzacott LLP, 130 Wood Street, London, EC2V 6DL. The company registration number is 10607888.

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 Section 1A of Financial Reporting Standard 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS102') 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 judgement in applying the company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company has received assurance from its shareholders that they will continue to give financial support to the company for a period of at least twelve months from the date of approval of these financial statements sufficient to enable the company to meet its liabilities as and when they fall due for the foreseeable future. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. However, should the financial support mentioned above not be forthcoming, the going concern basis used in preparing the company's financial statements may be invalid and adjustments would have to be made necessary should this basis not continue to be appropriate.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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

 
Alacrity Law Limited
 

Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.4

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.

 The estimated useful lives range as follows:

Development expenditure
-
10
years

 
2.5

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 provided on the following basis:

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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the statement of income and retained earnings.

 
2.6

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.

 
2.7

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.8

Financial instruments

The company only 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, loans to related parties and investments in ordinary shares.

 
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.

Page 4

 
Alacrity Law Limited
 

Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.10

Government grants

Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.11

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.

 
2.12

Operating leases: the company as lessee

Rentals paid under operating leases are charged to the Statement of income and retained earnings on a straight line basis over the lease term.

 
2.13

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.

 
2.14

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.

Page 5

 
Alacrity Law Limited
 

Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.15

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 Statement of financial position 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.

 
2.16

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 the period which the company is expected to benefit.
If itis 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 3).

Page 6

 
Alacrity Law Limited
 
 

Notes to the financial statements
For the year ended 31 December 2023

4.


Intangible assets




Development expenditure

£



Cost


At 1 January 2023
1,214,274


Additions
215,060



At 31 December 2023

1,429,334



Amortisation


At 1 January 2023
256,902


Charge for the year
133,674



At 31 December 2023

390,576



Net book value



At 31 December 2023
1,038,758



At 31 December 2022
957,372



Page 7

 
Alacrity Law Limited
 
 

Notes to the financial statements
For the year ended 31 December 2023

5.


Tangible fixed assets





Computer equipment

£



Cost 


At 1 January 2023
13,662


Additions
1,082



At 31 December 2023

14,744



Depreciation


At 1 January 2023
11,987


Charge for the year
1,062



At 31 December 2023

13,049



Net book value



At 31 December 2023
1,695



At 31 December 2022
1,675


6.


Debtors

2023
2022
£
£


Trade debtors
-
35,933

Other debtors
50,044
33,064

Deferred taxation
497,526
451,964

547,570
520,961


Page 8

 
Alacrity Law Limited
 
 

Notes to the financial statements
For the year ended 31 December 2023

7.


Creditors: amounts falling due within one year

2023
2022
£
£

Trade creditors
45,225
38,841

Other taxation and social security
26,804
28,921

Other creditors
296,000
110,425

Accruals and deferred income
81,808
87,294

449,837
265,481



8.


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  £1,743 (2022 -  £2,029) during the year. Contributions totaling £257 (2022 - £454) were payable to the fund at 31 December 2023.


Page 9