Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31trueholding companies.true72023-01-01false6The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10288745 2023-01-01 2023-12-31 10288745 2022-01-01 2022-12-31 10288745 2023-12-31 10288745 2022-12-31 10288745 2022-01-01 10288745 c:Director1 2023-01-01 2023-12-31 10288745 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 10288745 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 10288745 d:CurrentFinancialInstruments 2023-12-31 10288745 d:CurrentFinancialInstruments 2022-12-31 10288745 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 10288745 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 10288745 d:ShareCapital 2023-01-01 2023-12-31 10288745 d:ShareCapital 2023-12-31 10288745 d:ShareCapital 2022-01-01 2022-12-31 10288745 d:ShareCapital 2022-12-31 10288745 d:ShareCapital 2022-01-01 10288745 d:SharePremium 2023-01-01 2023-12-31 10288745 d:SharePremium 2023-12-31 10288745 d:SharePremium 2022-01-01 2022-12-31 10288745 d:SharePremium 2022-12-31 10288745 d:SharePremium 2022-01-01 10288745 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 10288745 d:RetainedEarningsAccumulatedLosses 2023-12-31 10288745 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 10288745 d:RetainedEarningsAccumulatedLosses 2022-12-31 10288745 d:RetainedEarningsAccumulatedLosses 2022-01-01 10288745 c:FRS102 2023-01-01 2023-12-31 10288745 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 10288745 c:FullAccounts 2023-01-01 2023-12-31 10288745 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10288745 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 10288745 2 2023-01-01 2023-12-31 10288745 6 2023-01-01 2023-12-31 10288745 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-01-01 2023-12-31 10288745 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 10288745









SMILE MONEY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
SMILE MONEY LIMITED
REGISTERED NUMBER: 10288745

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
531,110
566,056

Investments
 5 
470,608
470,608

  
1,001,718
1,036,664

Current assets
  

Debtors: amounts falling due within one year
 6 
5,850
562,328

Cash at bank and in hand
  
4,835
45,308

  
10,685
607,636

Creditors: amounts falling due within one year
 7 
(475,639)
(634,787)

Net current liabilities
  
 
 
(464,954)
 
 
(27,151)

Total assets less current liabilities
  
536,764
1,009,513

  

Net assets
  
536,764
1,009,513


Capital and reserves
  

Called up share capital 
  
127,010
127,010

Share premium account
  
2,043,496
2,043,496

Profit and loss account
  
(1,633,742)
(1,160,993)

  
536,764
1,009,513


Page 1

 
SMILE MONEY LIMITED
REGISTERED NUMBER: 10288745
    
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 her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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: 






Dr N Chauvidul-Aw
Director

Date: 26 September 2024

The notes on pages 4 to 8 form part of these financial statements.

Page 2

 
SMILE MONEY LIMITED
 

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


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


At 1 January 2022
107,410
653,710
(525,323)
235,797


Comprehensive income for the year

Loss for the year
-
-
(635,670)
(635,670)
Total comprehensive income for the year
-
-
(635,670)
(635,670)


Contributions by and distributions to owners

Shares issued during the year
19,600
1,389,786
-
1,409,386


Total transactions with owners
19,600
1,389,786
-
1,409,386



At 1 January 2023
127,010
2,043,496
(1,160,993)
1,009,513


Comprehensive income for the year

Loss for the year
-
-
(472,749)
(472,749)
Total comprehensive income for the year
-
-
(472,749)
(472,749)


At 31 December 2023
127,010
2,043,496
(1,633,742)
536,764


The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
SMILE MONEY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Smile Money Limited is a private company, limited by shares, registered in England and Wales.
The company's registered office address is Zrs- Building 3, Oakleigh Road South, London, N11 1NP.
The company's principal activity during the year continues to be that of a holding company.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

After assessing the company’s trading performance, future prospects and ongoing support from investors, the director believes the company will continue as a going concern.

 
2.3

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 Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 4

 
SMILE MONEY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

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 range from 3 to 6 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.

 
2.6

Interest income

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

 
2.7

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.

 
2.8

Borrowing costs

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

 
2.9

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 5

 
SMILE MONEY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

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.

 
2.11

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.12

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.13

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.

 
2.14

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.

 
2.15

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.

Page 6

 
SMILE MONEY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees

2023
2022
£
£

Wages and salaries
129,586
218,196

Social security costs
12,191
18,403

Cost of defined contribution scheme
1,260
2,753

143,037
239,352


The average monthly number of employees, including the director, during the year was as follows:


        2023
        2022
            No.
            No.







Staff
6
7


4.


Intangible assets




Development expenditure

£



Cost


At 1 January 2023
566,056


Additions
23,416



At 31 December 2023

589,472



Amortisation


Charge for the year on owned assets
58,362



At 31 December 2023

58,362



Net book value



At 31 December 2023
531,110



At 31 December 2022
566,056



Page 7

 
SMILE MONEY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Fixed asset investments





Investments in subsidiary companies
Unlisted investments
Total

£
£
£



Cost or valuation


At 1 January 2023
250,000
220,608
470,608



At 31 December 2023
250,000
220,608
470,608





6.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
-
524,385

Other debtors
2,267
4,305

Prepayments and accrued income
3,583
13,762

Tax recoverable
-
19,876

5,850
562,328



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
-
16,000

Trade creditors
68,029
37,658

Amounts owed to group undertakings
272,542
563,908

Other taxation and social security
3,296
7,102

Other creditors
123,177
7,500

Accruals and deferred income
8,595
2,619

475,639
634,787


 
Page 8