Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31falsetrue2023-01-01falseOnline fieldwork services129 07660280 2023-01-01 2023-12-31 07660280 2022-01-01 2022-12-31 07660280 2023-12-31 07660280 2022-12-31 07660280 2022-01-01 07660280 c:Director3 2023-01-01 2023-12-31 07660280 d:Buildings d:ShortLeaseholdAssets 2023-01-01 2023-12-31 07660280 d:Buildings d:ShortLeaseholdAssets 2023-12-31 07660280 d:Buildings d:ShortLeaseholdAssets 2022-12-31 07660280 d:FurnitureFittings 2023-01-01 2023-12-31 07660280 d:FurnitureFittings 2023-12-31 07660280 d:FurnitureFittings 2022-12-31 07660280 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07660280 d:ComputerEquipment 2023-01-01 2023-12-31 07660280 d:ComputerEquipment 2023-12-31 07660280 d:ComputerEquipment 2022-12-31 07660280 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07660280 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07660280 d:CurrentFinancialInstruments 2023-12-31 07660280 d:CurrentFinancialInstruments 2022-12-31 07660280 d:Non-currentFinancialInstruments 2023-12-31 07660280 d:Non-currentFinancialInstruments 2022-12-31 07660280 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 07660280 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 07660280 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 07660280 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 07660280 d:ShareCapital 2023-12-31 07660280 d:ShareCapital 2022-12-31 07660280 d:RetainedEarningsAccumulatedLosses 2023-12-31 07660280 d:RetainedEarningsAccumulatedLosses 2022-12-31 07660280 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 07660280 d:TaxLossesCarry-forwardsDeferredTax 2022-12-31 07660280 c:OrdinaryShareClass1 2023-01-01 2023-12-31 07660280 c:OrdinaryShareClass1 2023-12-31 07660280 c:OrdinaryShareClass1 2022-12-31 07660280 c:FRS102 2023-01-01 2023-12-31 07660280 c:Audited 2023-01-01 2023-12-31 07660280 c:FullAccounts 2023-01-01 2023-12-31 07660280 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07660280 d:HirePurchaseContracts d:WithinOneYear 2023-12-31 07660280 d:HirePurchaseContracts d:WithinOneYear 2022-12-31 07660280 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-12-31 07660280 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-12-31 07660280 d:HirePurchaseContracts d:MoreThanFiveYears 2023-12-31 07660280 d:HirePurchaseContracts d:MoreThanFiveYears 2022-12-31 07660280 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 07660280 6 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 07660280














NORSTAT UK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

 
NORSTAT UK LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1
Notes to the Financial Statements
 
2 - 9


 
NORSTAT UK LIMITED
REGISTERED NUMBER:07660280

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
  
11,473,811
-

Tangible fixed assets
 5 
73,038
71,334

  
11,546,849
71,334

Current assets
  

Debtors
 7 
2,184,995
549,575

Cash at bank and in hand
  
108,722
372,465

  
2,293,717
922,040

Current liabilities
  

Creditors: amounts falling due within one year
 8 
(5,791,554)
(1,462,859)

Net current liabilities
  
 
 
(3,497,837)
 
 
(540,819)

Creditors: amounts falling due after more than one year
 9 
(8,702,339)
-

Net liabilities
  
(653,327)
(469,485)


Capital and reserves
  

Called up share capital 
 12 
10,000
10,000

Profit and loss account
  
(663,327)
(479,485)

  
(653,327)
(469,485)


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 on 25 September 2024.




O Okland
Director

The notes on pages 2 to 9 form part of these financial statements.

Page 1

 
NORSTAT UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Norstat UK Limited is a private company, limited by shares, registered in England and Wales. Its registered office and trading address is 4th Floor, North East, North Harling House, 47-51 Great Suffolk Street, London, SE1 0BS.
The principal activity of the Company is the provision of online fieldwork services.

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

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Going concern

Based on the long term business plans the directors are confident the company will trade profitably in future periods and generate sufficient cash flows to meet its obligations as they fall due for payment.
The Company is dependent on the continued finance being made available by its parent company. The latter has confirmed that sufficient funds will continue to be made available to allow the Company to meet its liabilities as they fall due for a period of at least twelve months from the date of approval of these financial statements.

 
2.4

Turnover

The turnover shown in the profit and loss account represents the value of all services delivered during the year, at the selling price exclusive of Value Added Tax. Sales are recognised at the point at which the company has fulfilled its contractual obligations to the customer.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

 
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.

 
2.6

Foreign currency translation

The Company's functional and presentational currency is GBP.
 
Page 2

 
NORSTAT UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.6
Foreign currency translation (continued)

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 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 profit or loss.

 
2.7

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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is provided on the following basis:

Short-term leasehold property
-
3 years
Fixtures and fittings
-
3 years
Computer equipment
-
3 years

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.

 
2.8

Pensions

The Company contributes to 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.

 
2.9

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
Page 3

 
NORSTAT UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.9
Current and deferred taxation (continued)

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:
a) 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
b) 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 reporting date.

 
2.10

Intangible assets - Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the Company’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 to the Statement of Comprehensive Income over 10 years.

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.12

Debtors

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

 
2.13

Creditors

Short-term creditors are measured at the transaction price. 

 
2.14

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 related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Page 4

 
NORSTAT UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 12 (2022 - 9).


4.


Intangible assets




Goodwill

£



Cost


Additions (note 6)
11,473,811



At 31 December 2023

11,473,811






Net book value



At 31 December 2023
11,473,811



At 31 December 2022
-



Page 5

 
NORSTAT UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Short-term leasehold property
Fixtures, fittings and equipment
Computer equipment
Total

£
£
£
£



Cost


At 1 January 2023
17,370
58,249
23,895
99,514


Additions
-
-
37,986
37,986



At 31 December 2023

17,370
58,249
61,881
137,500



Depreciation


At 1 January 2023
2,895
9,709
15,576
28,180


Charge for the year on owned assets
11,580
19,415
5,287
36,282



At 31 December 2023

14,475
29,124
20,863
64,462



Net book value



At 31 December 2023
2,895
29,125
41,018
73,038



At 31 December 2022
14,475
48,540
8,319
71,334


6.


Fixed asset investments





Investments in subsidiary companies

£



Cost


Additions
11,473,811


Adjustment following hive up of subsidiary's assets and liabilities (note 4)
(11,473,811)



At 31 December 2023
-

Page 6

 
NORSTAT UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Debtors


2023
2022
£
£

Due after more than one year

Deferred tax asset
129,048
129,048

Due within one year

Trade debtors
1,045,873
246,003

Amounts owed by group undertakings
702,089
28,448

Other debtors
-
19,096

Prepayments and accrued income
307,985
126,980

2,184,995
549,575



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
25,450
-

Trade creditors
217,179
220,615

Amounts owed to group undertakings
4,317,965
1,067,839

Other taxation and social security
180,585
9,086

Obligations under finance lease and hire purchase contracts
8,308
-

Other creditors
21,334
2,577

Accruals and deferred income
1,020,733
162,742

5,791,554
1,462,859



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
21,848
-

Amounts owed to group undertakings
8,680,491
-

8,702,339
-


Page 7

 
NORSTAT UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
11,776
-

Between 1-5 years
11,776
-

Over 5 years
6,604
-

30,156
-


11.


Deferred taxation




2023
2022


£

£



At beginning of year
129,048
129,048



At end of year
129,048
129,048

The deferred tax asset is made up as follows:

2023
2022
£
£


Tax losses carried forward
129,048
129,048

129,048
129,048

Page 8

 
NORSTAT UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

12.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



10,000 (2022 - 10,000) Ordinary shares of £1 each
10,000
10,000



13.


Controlling party

The Company's immediate parent entity is Norstat AS, a company registered in Norway.
Nemasco Holdco Group, an entity registered in Norway, is the smallest group to prepare consolidated financial statements that include the results and balances of Norstat UK Limited. These consolidated financial statements are publicly available and can be obtained upon request to the directors.


14.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 25 September 2024 by Stephen Iseman FCA (Senior Statutory Auditor) on behalf of Sopher + Co LLP.

 
Page 9