Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false62023-01-01Develops UI for client onboarding processes.7truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11680245 2023-01-01 2023-12-31 11680245 2022-01-01 2022-12-31 11680245 2023-12-31 11680245 2022-12-31 11680245 c:Director1 2023-01-01 2023-12-31 11680245 d:OfficeEquipment 2023-01-01 2023-12-31 11680245 d:OfficeEquipment 2023-12-31 11680245 d:OfficeEquipment 2022-12-31 11680245 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11680245 d:ComputerEquipment 2023-01-01 2023-12-31 11680245 d:ComputerEquipment 2023-12-31 11680245 d:ComputerEquipment 2022-12-31 11680245 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11680245 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11680245 d:CurrentFinancialInstruments 2023-12-31 11680245 d:CurrentFinancialInstruments 2022-12-31 11680245 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11680245 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11680245 d:ShareCapital 2023-12-31 11680245 d:ShareCapital 2022-12-31 11680245 d:SharePremium 2023-12-31 11680245 d:SharePremium 2022-12-31 11680245 d:RetainedEarningsAccumulatedLosses 2023-12-31 11680245 d:RetainedEarningsAccumulatedLosses 2022-12-31 11680245 c:OrdinaryShareClass1 2023-01-01 2023-12-31 11680245 c:OrdinaryShareClass1 2023-12-31 11680245 c:OrdinaryShareClass2 2023-01-01 2023-12-31 11680245 c:OrdinaryShareClass2 2023-12-31 11680245 c:FRS102 2023-01-01 2023-12-31 11680245 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11680245 c:FullAccounts 2023-01-01 2023-12-31 11680245 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11680245 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11680245









CANDU LABS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
CANDU LABS LIMITED
REGISTERED NUMBER: 11680245

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
86
442

  
86
442

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 5 
47,501
50,683

Cash at bank and in hand
  
75,564
82,011

  
123,065
132,694

Creditors: amounts falling due within one year
 6 
(9,897)
(35,741)

NET CURRENT ASSETS
  
 
 
113,168
 
 
96,953

TOTAL ASSETS LESS CURRENT LIABILITIES
  
113,254
97,395

  

NET ASSETS
  
113,254
97,395


CAPITAL AND RESERVES
  

Called up share capital 
 7 
90
90

Share premium account
  
79,992
79,992

Profit and loss account
  
33,172
17,313

  
113,254
97,395


Page 1

 
CANDU LABS LIMITED
REGISTERED NUMBER: 11680245
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 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 profit and loss account 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: 




J Anderson
Director

Date: 26 September 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
CANDU LABS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


GENERAL INFORMATION

Candu Labs Limited is a private company limited by shares and incorporated in England and Wales. Its registered office address is 52 Tabernacle Street, London, EC2A 4NJ.

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

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.

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 except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.3

TURNOVER

Turnover is recognised to the extent that it is probable that economic benefits will flow to the Company and can be reliably measured. It is measured as the fair value of the consideration received or receivable, exclusive of Value Added Tax.
Turnover is recognised in line with when the services are performed.

Page 3

 
CANDU LABS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

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:

Office equipment
-
33% 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.

 
2.5

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.

 
2.6

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.

 
2.7

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.

 
2.8

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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
CANDU LABS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.9

TAXATION

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 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 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 balance sheet date.


3.


EMPLOYEES



The average monthly number of employees, including directors, during the year was 7 (2022 - 6).

Page 5

 
CANDU LABS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


TANGIBLE FIXED ASSETS





Office equipment
Computer equipment
Total

£
£
£



COST OR VALUATION


At 1 January 2023
130
2,839
2,969



At 31 December 2023

130
2,839
2,969



DEPRECIATION


At 1 January 2023
130
2,397
2,527


Charge for the year on owned assets
-
356
356



At 31 December 2023

130
2,753
2,883



NET BOOK VALUE



At 31 December 2023
-
86
86



At 31 December 2022
-
442
442


5.


DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£


Trade debtors
17,859
17,859

Amounts owed by group undertakings
13,212
13,212

Other debtors
12,468
13,435

Called up share capital not paid
80
80

Prepayments and accrued income
3,882
6,097

47,501
50,683


Page 6

 
CANDU LABS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Trade creditors
1,108
7,010

Corporation tax
2,477
-

Other taxation and social security
305
22,419

Other creditors
6,007
6,312

9,897
35,741


Included within other creditors are amounts due to define contribution pension schemes of £3,699 (2022 - £4,625).


7.


SHARE CAPITAL

2023
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



20,000 Ordinary shares of £0.0001 each
2
2
80,000 Preferred shares of £0.0001 each
8
8

10

10

ALLOTTED, CALLED UP AND UNPAID



800,000 Ordinary shares of £0.0001 each
80
80


 
Page 7