Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false2023-01-01trueNo description of principal activity1412falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11050531 2023-01-01 2023-12-31 11050531 2022-01-01 2022-12-31 11050531 2023-12-31 11050531 2022-12-31 11050531 c:Director2 2023-01-01 2023-12-31 11050531 d:OfficeEquipment 2023-01-01 2023-12-31 11050531 d:OfficeEquipment 2023-12-31 11050531 d:OfficeEquipment 2022-12-31 11050531 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11050531 d:CurrentFinancialInstruments 2023-12-31 11050531 d:CurrentFinancialInstruments 2022-12-31 11050531 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11050531 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11050531 d:ShareCapital 2023-12-31 11050531 d:ShareCapital 2022-12-31 11050531 d:RetainedEarningsAccumulatedLosses 2023-12-31 11050531 d:RetainedEarningsAccumulatedLosses 2022-12-31 11050531 c:FRS102 2023-01-01 2023-12-31 11050531 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11050531 c:FullAccounts 2023-01-01 2023-12-31 11050531 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11050531 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure


Registered number: 11050531












SEEDCAMP SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


 
REGISTERED NUMBER:11050531
SEEDCAMP SERVICES LIMITED

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
  
14,770
14,169

Current assets
  

Debtors: amounts falling due within one year
 5 
168,818
242,619

Cash at bank and in hand
  
85,868
254,306

  
254,686
496,925

Creditors: amounts falling due within one year
 6 
(304,264)
(521,061)

Net current liabilities
  
 
 
(49,578)
 
 
(24,136)

  

Net liabilities
  
(34,808)
(9,967)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(34,809)
(9,968)

  
(34,808)
(9,967)


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 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 26 September 2024.




R Sohoni
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 

SEEDCAMP SERVICES LIMITED

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

1.


General information

Seedcamp Services Limited (the 'Company') is a private company limited by shares, incorporated in the UK and registered in England & Wales with company number 11050531. The registered address of the Company is 16 Great Queen Street, London WC2B 5AH. Its principal activity is the provision of support 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. 

 
2.2

Going concern

The Company discloses net liabilities. It is reliant on the support of its parent. The parent has indicated that it will continue to support the Company for at least the next twelve months from the date of approval of the financial statements. Therefore the directors have prepared the financial statements on the going concern basis.

 
2.3

Revenue

Revenue represents amounts receivable for services rendered and is recognised when the services are provided. It is stated net of discounts and value added tax.

 
2.4

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.

 
2.5

Taxation

Tax is recognised in profit or loss.

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.

 
2.6

Tangible fixed assets

Tangible fixed assets are stated at historical cost less accumulated depreciation.

Page 2

 

SEEDCAMP SERVICES LIMITED

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

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

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



 
2.7

Financial instruments

The Company does not trade in financial instruments and all such instruments arise directly from operations.
All trade and other debtors are initially recognised at transaction value, as none contain in substance a financing transaction. Thereafter trade and other debtors are reviewed for impairment where there is objective evidence based on observable data that the balance may be impaired. The Company does not hold collateral against its trade and other receivables so its exposure to credit risk is the net balance of trade and other debtors after allowance for impairment.
The Company's cash holdings comprise on demand balances. All cash is held with banks with strong external credit ratings.
Trade and other creditors and accruals are initially recognised at transaction value as none represent a financing transaction. They are only derecognised when they are extinguished.
As the Company only has short term receivables and payables, its net current asset position is a reasonable measure of its liquidity at any given time.


3.


Employees

The average monthly number of employees, including directors, during the year was 16 (2022 - 12).

Page 3

 

SEEDCAMP SERVICES LIMITED

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

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 January 2023
39,157


Additions
10,686



At 31 December 2023

49,843



Depreciation


At 1 January 2023
24,988


Charge for the year on owned assets
10,085



At 31 December 2023

35,073



Net book value



At 31 December 2023
14,770



At 31 December 2022
14,169


5.


Debtors

2023
2022
£
£


Other debtors
115,739
213,846

Prepayments and accrued income
53,079
28,773

168,818
242,619


Page 4

 

SEEDCAMP SERVICES 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
2,271
35,826

Amounts owed to group undertakings
95,094
318,877

Corporation tax
34,808
9,964

Other taxation and social security
2,876
27,657

Other creditors
9,131
8,169

Accruals and deferred income
160,084
120,568

304,264
521,061



7.


Related party transactions

The entire turnover derives from the Company's parent entity, Seedcamp Investment Management LLP. The amount due to the LLP at the year end was £95,094 (2022: £318,877).


8.


Controlling party

Seedcamp Investment Management LLP is the immediate and ultimate controlling party.

Page 5