Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01false25truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11124050 2023-01-01 2023-12-31 11124050 2022-01-01 2022-12-31 11124050 2023-12-31 11124050 2022-12-31 11124050 c:Director1 2023-01-01 2023-12-31 11124050 c:RegisteredOffice 2023-01-01 2023-12-31 11124050 d:FurnitureFittings 2023-01-01 2023-12-31 11124050 d:FurnitureFittings 2023-12-31 11124050 d:FurnitureFittings 2022-12-31 11124050 d:OfficeEquipment 2023-01-01 2023-12-31 11124050 d:OfficeEquipment 2023-12-31 11124050 d:OfficeEquipment 2022-12-31 11124050 d:Goodwill 2023-12-31 11124050 d:Goodwill 2022-12-31 11124050 d:CurrentFinancialInstruments 2023-12-31 11124050 d:CurrentFinancialInstruments 2022-12-31 11124050 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11124050 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11124050 d:ShareCapital 2023-12-31 11124050 d:ShareCapital 2022-12-31 11124050 d:RetainedEarningsAccumulatedLosses 2023-12-31 11124050 d:RetainedEarningsAccumulatedLosses 2022-12-31 11124050 c:FRS102 2023-01-01 2023-12-31 11124050 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11124050 c:FullAccounts 2023-01-01 2023-12-31 11124050 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11124050 d:Goodwill d:OwnedIntangibleAssets 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: 11124050









IBS INTELLIGENCE LIMITED
FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
IBS INTELLIGENCE LIMITED
 

COMPANY INFORMATION


DIRECTOR
S. Anand 




REGISTERED NUMBER
11124050



REGISTERED OFFICE
1st Floor Sackville House
143-149 Fenchurch Street

London

EC3M 6BL





 
IBS INTELLIGENCE LIMITED
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Notes to the Financial Statements
 
3 - 8


 
IBS INTELLIGENCE LIMITED
REGISTERED NUMBER: 11124050

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

FIXED ASSETS
  

Intangible assets
 4 
-
4,888

CURRENT ASSETS
  

Debtors
 6 
186,475
72,545

Cash at bank and in hand
  
101,517
155,716

  
287,992
228,261

Creditors: amounts falling due within one year
 7 
(50,381)
(302,553)

NET CURRENT ASSETS/(LIABILITIES)
  
 
 
237,611
 
 
(74,292)

NET ASSETS/(LIABILITIES)
  
237,611
(69,404)


CAPITAL AND RESERVES
  

Allotted, called up and fully paid share capital
  
107,557
107,557

Profit and loss account
  
130,054
(176,961)

EQUITY SHAREHOLDER'S FUNDS/(DEFICIT)
  
237,611
(69,404)


Page 1

 
IBS INTELLIGENCE LIMITED
REGISTERED NUMBER: 11124050

BALANCE SHEET (CONTINUED)
AS AT 31 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 Director's Report and Statement of Income and Retained Earnings in accordance with provisions applicable to companies subject to the small companies regime, under section 444 of the Companies Act 2006.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 September 2024.




S. Anand
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
IBS INTELLIGENCE LIMITED
 

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

1.


GENERAL INFORMATION

IBS Intelligence Limited (Company Number: 11124050) having its registered office at 1st Floor Sackville House, 143-149 Fenchurch Street, London, EC3M 6BL, is a private limited company incorporated in England and Wales.
The principal place of business of the Company is WeWork North West House, 119 Marylebone Road, London, NW1 5PU.

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.

The following principal accounting policies have been applied:

  
2.2

STATEMENT OF CASH FLOWS

The Company has taken advantage of the exemption in Financial Reporting Standard 102, Section 1A.7 from the requirement to produce a Statement of Cash Flows on the grounds that it is a small company.

 
2.3

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is British Pound Sterling (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.

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 the Statement of Income and Retained Earnings.

Page 3

 
IBS INTELLIGENCE LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

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.

 
2.5

INTANGIBLE ASSETS

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis  over to the Statement of Income and Retained Earnings over its useful economic life. Unless commercially justified, the useful economic life of goodwill is not assessed as longer than 10 years.

Page 4

 
IBS INTELLIGENCE LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.6

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:

Fixtures and fittings
-
33.33% straight-line
Office equipment
-
33.33% 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 the Statement of Income and Retained Earnings.

 
2.7

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. 

 
2.8

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. 

 
2.9

CREDITORS

Short-term creditors are measured at the transaction price. 

  
2.10

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.
Financial assets that are measured and amortised at cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, and impairment loss is recognised in the Statement of Income and Retained Earnings.
For financial assets measured at cost less any impairment, the impairment loss is measured as the difference between and asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the Balance Sheet date.

Page 5

 
IBS INTELLIGENCE LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.11

TAXATION

Tax is recognised in the Statement of Income and Retained Earnings.

The current corporation 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet 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. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 2 (2022 - 5).

Page 6

 
IBS INTELLIGENCE LIMITED
 

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

4.


INTANGIBLE ASSETS




Goodwill

£



COST


At 1 January 2023 and 31 December 2023
41,887



AMORTISATION


At 1 January 2023
36,999


Charge for the year
4,888



At 31 December 2023

41,887



NET BOOK VALUE



At 31 December 2023
-



At 31 December 2022
4,888




5.


TANGIBLE FIXED ASSETS





Fixtures and fittings
Office equipment
Total

£
£
£



COST


At 1 January 2023 and 31 December 2023
315
2,477
2,792



DEPRECIATION


At 1 January 2023 and 31 December 2023
315
2,477
2,792



NET BOOK VALUE



At 31 December 2023
-
-
-



At 31 December 2022
-
-
-

Page 7

 
IBS INTELLIGENCE LIMITED
 

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

6.


DEBTORS

2023
2022
£
£

Due within one year

Trade debtors
182,020
60,152

Other debtors
4,455
12,393

186,475
72,545



7.


CREDITORS: Amounts falling due within one year

2023
2022
£
£

Trade creditors
1,025
184,088

Other creditors
13,866
18,721

Accruals and deferred income
21,244
99,744

Corporation tax
14,246
-

50,381
302,553



Page 8