Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30532023-07-01falseproviding innovative cloud-based software to local government59truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06946606 2023-07-01 2024-06-30 06946606 2022-07-01 2023-06-30 06946606 2024-06-30 06946606 2023-06-30 06946606 c:Director1 2023-07-01 2024-06-30 06946606 d:OfficeEquipment 2023-07-01 2024-06-30 06946606 d:OfficeEquipment 2024-06-30 06946606 d:OfficeEquipment 2023-06-30 06946606 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 06946606 d:ComputerEquipment 2023-07-01 2024-06-30 06946606 d:ComputerEquipment 2024-06-30 06946606 d:ComputerEquipment 2023-06-30 06946606 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 06946606 d:OtherPropertyPlantEquipment 2023-07-01 2024-06-30 06946606 d:OtherPropertyPlantEquipment 2024-06-30 06946606 d:OtherPropertyPlantEquipment 2023-06-30 06946606 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 06946606 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 06946606 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-06-30 06946606 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-06-30 06946606 d:CurrentFinancialInstruments 2024-06-30 06946606 d:CurrentFinancialInstruments 2023-06-30 06946606 d:Non-currentFinancialInstruments 2024-06-30 06946606 d:Non-currentFinancialInstruments 2023-06-30 06946606 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 06946606 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 06946606 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 06946606 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 06946606 d:ShareCapital 2024-06-30 06946606 d:ShareCapital 2023-06-30 06946606 d:SharePremium 2023-07-01 2024-06-30 06946606 d:SharePremium 2024-06-30 06946606 d:SharePremium 2023-06-30 06946606 d:CapitalRedemptionReserve 2024-06-30 06946606 d:CapitalRedemptionReserve 2023-06-30 06946606 d:OtherMiscellaneousReserve 2024-06-30 06946606 d:OtherMiscellaneousReserve 2023-06-30 06946606 d:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 06946606 d:RetainedEarningsAccumulatedLosses 2024-06-30 06946606 d:RetainedEarningsAccumulatedLosses 2023-06-30 06946606 c:OrdinaryShareClass1 2023-07-01 2024-06-30 06946606 c:OrdinaryShareClass1 2024-06-30 06946606 c:OrdinaryShareClass1 2023-06-30 06946606 c:OrdinaryShareClass2 2023-07-01 2024-06-30 06946606 c:OrdinaryShareClass2 2024-06-30 06946606 c:OrdinaryShareClass2 2023-06-30 06946606 c:OrdinaryShareClass3 2023-07-01 2024-06-30 06946606 c:OrdinaryShareClass3 2023-06-30 06946606 c:OrdinaryShareClass4 2023-07-01 2024-06-30 06946606 c:OrdinaryShareClass4 2024-06-30 06946606 c:OrdinaryShareClass5 2023-07-01 2024-06-30 06946606 c:OrdinaryShareClass5 2024-06-30 06946606 c:FRS102 2023-07-01 2024-06-30 06946606 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 06946606 c:FullAccounts 2023-07-01 2024-06-30 06946606 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 06946606 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:InternallyGeneratedIntangibleAssets 2023-07-01 2024-06-30 06946606 2 2023-07-01 2024-06-30 06946606 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-07-01 2024-06-30 06946606 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 06946606









ARCUS GLOBAL LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

 
ARCUS GLOBAL LIMITED
REGISTERED NUMBER: 06946606

BALANCE SHEET
AS AT 30 JUNE 2024

As restated
2024
2023
Note
£
£

FIXED ASSETS
  

Intangible assets
 4 
3,809,508
3,209,733

Tangible assets
 5 
60,997
45,250

  
3,870,505
3,254,983

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 6 
1,473,167
1,156,974

Cash at bank and in hand
  
844,087
475,046

  
2,317,254
1,632,020

Creditors: amounts falling due within one year
 7 
(4,512,960)
(3,620,005)

NET CURRENT LIABILITIES
  
 
 
(2,195,706)
 
 
(1,987,985)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
1,674,799
1,266,998

Creditors: amounts falling due after more than one year
 8 
(1,587,615)
(1,062,695)

  

NET ASSETS
  
87,184
204,303


CAPITAL AND RESERVES
  

Called up share capital 
 9 
831
1,125

Share premium account
 10 
5,768,032
6,387,795

Capital redemption reserve
 10 
-
11

Other reserves
 10 
34,758
34,758

Profit and loss account
 10 
(5,716,437)
(6,219,386)

  
87,184
204,303


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

 
ARCUS GLOBAL LIMITED
REGISTERED NUMBER: 06946606
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

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: 




Peter Eric Jensen Dewsbury
Director

Date: 25 September 2024

The notes on pages 3 to 9 form part of these financial statements.
Page 2

 
ARCUS GLOBAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


GENERAL INFORMATION

Arcus Global Limited is a private company limited by shares and incorporated in England and Wales.  Its registered office address is Future Business Centre, Kings Hedges Road, Cambridge CB4 2HY.

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

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 comprises revenue recognised by the Company in respect of software development during the year, exclusive of Value Added Tax. Turnover is recognised as the fair value of the consideration received or receivable and is recognised in the period in which the goods are arranged.
Revenue from software subscription contracts is recognised evenly over the life of the agreement.

Page 3

 
ARCUS GLOBAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

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 their useful economic lives, which is ten years.
If it is 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.

 
2.5

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

FINANCE COSTS

Finance costs are charged to profit or loss 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.

 
2.7

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
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.

 
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.

Page 4

 
ARCUS GLOBAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.10

INTANGIBLE ASSETS

Intangible assets comprises capitalised development costs. Development activities involve a plan or design for the production on new or substantially improved products and processes. Development expenditure is only capitalised if all the following conditions are met:
 • completion of the intangible asset is technically feasible so that it will be available for use or sale
 • we intend to complete the intangible asset and use or sell it
 • we can use or sell the intangible asset
 • the intangible asset will generate probable future economic benefits. Among other things, this      requires  there to be a market for the output from the intangible asset or for the intangible asset      itself, or, if it is to be used internally, the asset will be used in generating such benefits
 • there are adequate technical, financial, and other resources to complete the development and to     use or sell the intangible asset
 • the expenditure attributable to the intangible asset during its development can be measured       reliably
Internally generated intangible assets, consisting mainly of direct labour and associated costs, are amortised on a straight-line basis over their useful economic lives. Amortisation is shown within administrative expenses in the proft and loss account. The estimated useful life of development projects in the year ended 30 June 2023 was 10 years (2022 – 10 years). The assets are subject to annual impairment testing, regardless of whether there are indicators of impairment.

 
2.11

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
-
25%
Computer equipment
-
33%
Cycle to work scheme
-
50%

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.

 
2.12

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.

Page 5

 
ARCUS GLOBAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.13

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.

 
2.14

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.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 59 (2023 - 53).


4.


INTANGIBLE ASSETS




Development expenditure

£



COST


At 1 July 2023
8,090,615


Additions - internal
1,094,715



At 30 June 2024

9,185,330



AMORTISATION


At 1 July 2023
4,880,882


Charge for the year on owned assets
494,940



At 30 June 2024

5,375,822



NET BOOK VALUE



At 30 June 2024
3,809,508



At 30 June 2023
3,209,733



Page 6

 
ARCUS GLOBAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


TANGIBLE FIXED ASSETS





Office equipment
Computer equipment
Cycle to work scheme
Total

£
£
£
£



COST OR VALUATION


At 1 July 2023
127,548
225,750
1,835
355,133


Additions
144
44,172
500
44,816



At 30 June 2024

127,692
269,922
2,335
399,949



DEPRECIATION


At 1 July 2023
125,626
182,422
1,835
309,883


Charge for the year on owned assets
1,661
27,179
229
29,069



At 30 June 2024

127,287
209,601
2,064
338,952



NET BOOK VALUE



At 30 June 2024
405
60,321
271
60,997



At 30 June 2023
1,922
43,328
-
45,250


6.


DEBTORS

2024
2023
£
£


Trade debtors
388,378
264,798

Other debtors
13,922
2,917

Prepayments and accrued income
955,147
518,076

Tax recoverable
115,720
371,183

1,473,167
1,156,974


Page 7

 
ARCUS GLOBAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Other loans
117,080
18,005

Trade creditors
353,292
266,708

Other taxation and social security
275,360
245,208

Other creditors
32,815
33,714

Accruals and deferred income
3,734,413
3,056,370

4,512,960
3,620,005


Other creditors include contributions of £26,732 (2023 - £21,689) payable to the Company's defined contribution pension scheme at the balance sheet date.
Included in other loans is a loan bearing interest of 13.5%; the loan is interest free for the first year and is repayable in April 2027. The loan is secured by way of a fixed and floating charge over the company's assets.


8.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024
2023
£
£

Shareholder loans
-
400,000

Other loans
993,822
376,646

Amounts owed to group undertakings
255,402
237,699

Accruals and deferred income
338,391
48,350

1,587,615
1,062,695


Included in other loans is a loan bearing interest of 13.5%; the loan is interest free for the first year and is repayable in April 2027. The loan is secured by way of a fixed and floating charge over the company's assets.
Included in shareholder loans are loans made to the company by shareholders. These loans bear interest of 9.5% and are repayable in the December 2026.

Page 8

 
ARCUS GLOBAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

9.


SHARE CAPITAL

As restated
2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



1,304,408 (2023 - 1,304,408) Ordinary shares of £0.0005 each
652
652
172,219 (2023 - 187,594) A Ordinary shares of £0.0005 each
86
93
NIL (2023 - 759,602) B Ordinary shares of £0.0005 each
-
380
92,259 (2023 - NIL ) B1 Ordinary shares of £0.0005 each
46
-
93,796 (2023 - NIL) B2 Ordinary shares of £0.0005 each
47
-

831

1,125

During the year the following transactions took place in relation to share capital: 
On 12 January 2024 12,300 Ordinary A £0.0005 shares were cancelled
On 12 January 2024 576,662 Ordinary A £0.0005 shares were cancelled
On 12 January 2024 3,075 Ordinary A £0.0005 shares were redesignated to be Ordinary B2 £0.0005 shares
On 12 January 2024 92,259 Ordinary B £0.0005 shares were redesignated to be Ordinary B1 shares
On 12 January 2024 90,721 Ordinary B £0.0005 shares were redesignated to be Ordinary B2 shares



10.


RESERVES

Share premium account

Includes any premiums received on issue of share capital. Any transaction costs associated with the issuing of shares are deducted from share premium

Profit and loss account

Includes all current and prior year retained profits and losses.


11.


PRIOR YEAR ADJUSTMENT

The prior year has been restated to reflect a correction to the issued share capital at 30 June 2023. This has not altered the value of the balance sheet. 

 
Page 9