Caseware UK (AP4) 2023.0.135 2023.0.135 2023-07-312023-07-31false2022-08-01Compliance consultancy77falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12752181 2022-08-01 2023-07-31 12752181 2021-08-01 2022-07-31 12752181 2023-07-31 12752181 2022-07-31 12752181 2021-08-01 12752181 c:PriorPeriodIncreaseDecrease 2022-08-01 2023-07-31 12752181 d:Director3 2022-08-01 2023-07-31 12752181 c:CurrentFinancialInstruments 2023-07-31 12752181 c:CurrentFinancialInstruments 2022-07-31 12752181 c:CurrentFinancialInstruments c:WithinOneYear 2023-07-31 12752181 c:CurrentFinancialInstruments c:WithinOneYear 2022-07-31 12752181 c:ShareCapital 2023-07-31 12752181 c:ShareCapital 2022-07-31 12752181 c:ShareCapital 2021-08-01 12752181 c:RetainedEarningsAccumulatedLosses 2022-08-01 2023-07-31 12752181 c:RetainedEarningsAccumulatedLosses 2023-07-31 12752181 c:RetainedEarningsAccumulatedLosses c:PriorPeriodIncreaseDecrease 2022-08-01 2023-07-31 12752181 c:RetainedEarningsAccumulatedLosses 2021-08-01 2022-07-31 12752181 c:RetainedEarningsAccumulatedLosses 2022-07-31 12752181 c:RetainedEarningsAccumulatedLosses 2021-08-01 12752181 d:OrdinaryShareClass1 2022-08-01 2023-07-31 12752181 d:OrdinaryShareClass1 2023-07-31 12752181 d:OrdinaryShareClass1 2022-07-31 12752181 d:OrdinaryShareClass2 2022-08-01 2023-07-31 12752181 d:OrdinaryShareClass2 2023-07-31 12752181 d:OrdinaryShareClass2 2022-07-31 12752181 d:OrdinaryShareClass3 2022-08-01 2023-07-31 12752181 d:OrdinaryShareClass3 2023-07-31 12752181 d:OrdinaryShareClass3 2022-07-31 12752181 d:FRS102 2022-08-01 2023-07-31 12752181 d:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 12752181 d:FullAccounts 2022-08-01 2023-07-31 12752181 d:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 12752181 2 2022-08-01 2023-07-31 12752181 c:ShareCapital c:PriorPeriodErrorIncreaseDecrease 2022-08-01 2023-07-31 12752181 c:RetainedEarningsAccumulatedLosses c:PreviouslyStatedAmount 2022-07-31 12752181 c:PreviouslyStatedAmount 2022-07-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12752181









EFFECTA COMPLIANCE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2023

 
EFFECTA COMPLIANCE LIMITED
REGISTERED NUMBER: 12752181

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2023

As restated
2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
317,138
249,293

Cash at bank and in hand
 5 
283,190
56,523

  
600,328
305,816

Creditors: amounts falling due within one year
 6 
(1,254,902)
(729,155)

Net current liabilities
  
 
 
(654,574)
 
 
(423,339)

Total assets less current liabilities
  
(654,574)
(423,339)

  

Net liabilities
  
(654,574)
(423,339)


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
(654,674)
(423,439)

  
(654,574)
(423,339)


Page 1

 
EFFECTA COMPLIANCE LIMITED
REGISTERED NUMBER: 12752181
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 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 by: 






S G E Langford
Director

Date: 31 July 2024

The notes on pages 4 to 9 form part of these financial statements.

Page 2

 
EFFECTA COMPLIANCE LIMITED
 

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


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 August 2021
100
(119,089)
(118,989)


Comprehensive income for the year

Loss for the year
-
(304,350)
(304,350)



At 1 August 2022 (as previously stated)
100
(313,888)
(313,788)

Prior year adjustment - (note 8)
-
(109,551)
(109,551)


At 1 August 2022 (as restated)
100
(423,439)
(423,339)


Comprehensive income for the year

Loss for the year
-
(231,235)
(231,235)


At 31 July 2023
100
(654,674)
(654,574)


The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
EFFECTA COMPLIANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

The principal activity of the company is that of providing regulatory consultancy advice.
The Company is a private company limited by shares and is incorporated in England and Wales.
The Registered Office address is 35 Ballards Lane, London N3 1XW.

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 the Republic of Ireland and the Companies Act 2006 ("FRS 102 1A").

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis, which assumes that the Company will continue to trade for the foreseeable future, being a period of at least twelve months from the date of approval of these financial statements, and will be able to meet its debts as they fall due.
The directors have received undertaking of continued financial support from a connected party.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is Sterling.

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.

Page 4

 
EFFECTA COMPLIANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 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:

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.

Revenue is recognised in the period to which it relates.

Page 5

 
EFFECTA COMPLIANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

  
2.5

Financial instruments

The Company only enters into basic financial instruments and 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 and from related parties and investments in non-puttable ordinary shares.
(i) Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income. 
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
(iii) Offsetting
Financial assets and liabilities are offset and 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.

Page 6

 
EFFECTA COMPLIANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.6

Interest income

Interest income is recognised in the Statement of Comprehensive Income using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to the Statement of Comprehensive Income 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.


3.


Employees

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


4.


Debtors

2023
2022
£
£


Trade debtors
314,235
139,050

Other debtors
-
110,076

Prepayments and accrued income
2,903
167

317,138
249,293



5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
283,190
56,523


Page 7

 
EFFECTA COMPLIANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

6.


Creditors: Amounts falling due within one year

As restated
2023
2022
£
£

Trade creditors
339,946
99,966

Other taxation and social security
36,075
45,491

Other creditors
655,299
472,167

Accruals and deferred income
223,582
111,531

1,254,902
729,155



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



3,533 (2022 - 3,533) Ordinary A shares of £0.01 each
35.33
35.33
3,134 (2022 - 3,134) Ordinary B shares of £0.01 each
31.34
31.34
3,333 (2022 - 3,333) Ordinary C shares of £0.01 each
33.33
33.33

100.00

100.00



8.


Prior year adjustment

The comparative information presented within these financial statements has been adjusted to correct previously understated admin expenses and accruals. 
This has increased negative opening reserves and increased net liabilities previously stated as at 31 July 2022 by £109,551. 


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. Contributions totaling £1,659 (2022: £2,122) were payable to the fund at the reporting date and are included in creditors.

Page 8

 
EFFECTA COMPLIANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

10.


Related party transactions

Included in other creditors is a balance of £457,711 (2022: £470,045) owed to a company with directors in common. This balance is unsecured, accrues interest at 10% per annum and is repayable on demand. 
Also included in other creditors is a balance of £195,931 (2022: £Nil) owed to a company with directors in common. This balance is unsecured, interest free and is repayable upon demand.  
Included in trade creditors is a balance of £325,834 ( 2022: £90,247) owed to a company with directors in common. 
Included within accruals is a balance of £221,082 (2022: £109,551) owed to a company with directors in common. 
Included in other operating income is a management recharge for £148,169 (2022: £Nil) receivable from a company with directors in common. 
Included in administration expenses is a management charge for £202,685 (2022: £150,412) paid to a company with directors in common.
Included in interest payable is interest due to a company with directors in common amounting to £97,565 (2022: £34,345). 
Included in trade debtors is a balance of £208,181 (2022: £42,225) due from a company with directors in common. 
Included in other debtors is a balance of £Nil (2022: £110,075) due from a company  with directors in common. 

 
Page 9