Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseNo description of principal activity33truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09922607 2023-01-01 2023-12-31 09922607 2022-01-01 2022-12-31 09922607 2023-12-31 09922607 2022-12-31 09922607 c:Director2 2023-01-01 2023-12-31 09922607 d:OfficeEquipment 2023-01-01 2023-12-31 09922607 d:OfficeEquipment 2023-12-31 09922607 d:OfficeEquipment 2022-12-31 09922607 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09922607 d:ComputerEquipment 2023-01-01 2023-12-31 09922607 d:ComputerEquipment 2023-12-31 09922607 d:ComputerEquipment 2022-12-31 09922607 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09922607 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09922607 d:CurrentFinancialInstruments 2023-12-31 09922607 d:CurrentFinancialInstruments 2022-12-31 09922607 d:CurrentFinancialInstruments 2 2023-12-31 09922607 d:CurrentFinancialInstruments 2 2022-12-31 09922607 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 09922607 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 09922607 d:UKTax 2023-01-01 2023-12-31 09922607 d:UKTax 2022-01-01 2022-12-31 09922607 d:ShareCapital 2023-12-31 09922607 d:ShareCapital 2022-12-31 09922607 d:RetainedEarningsAccumulatedLosses 2023-12-31 09922607 d:RetainedEarningsAccumulatedLosses 2022-12-31 09922607 c:FRS102 2023-01-01 2023-12-31 09922607 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09922607 c:FullAccounts 2023-01-01 2023-12-31 09922607 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09922607 f:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: 09922607






INTELLECT AUTOMATION LIMITED

UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2023

 
INTELLECT AUTOMATION LIMITED
REGISTERED NUMBER: 09922607

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
1,527
2,423

  
1,527
2,423

Current assets
  

Debtors: amounts falling due within one year
 6 
29
4,771

Cash at bank and in hand
 7 
29,347
29,053

  
29,376
33,824

Creditors: amounts falling due within one year
 8 
(454,879)
(492,846)

Net current liabilities
  
 
 
(425,503)
 
 
(459,022)

Total assets less current liabilities
  
(423,976)
(456,599)

  

Net liabilities
  
(423,976)
(456,599)


Capital and reserves
  

Called up share capital 
  
(1)
1

Profit and loss account
  
(423,975)
(456,600)

  
(423,976)
(456,599)


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

 
INTELLECT AUTOMATION LIMITED
REGISTERED NUMBER: 09922607
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023


The Company has opted not to file the statement of income and retained earnings 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.




Alan Graham Watman
Director

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

Page 2

 
INTELLECT AUTOMATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Intellect Automation Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is 30 Orange Street, London, WC2H 7HF.

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 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

The company's liabilities exceed its assets by £423,976. It is dependent upon its holding company to provide funding for its operations. The holding company has indicated to the board that it will provide such funding and any loans from it will not be called on until the company is in profit and in a position to make repayments. 

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding value added tax.

 
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.

Page 3

 
INTELLECT AUTOMATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Debtors

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

 
2.6

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.7

Creditors

Short term creditors are measured at the transaction price. 

 
2.8

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.

 
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 reporting date in the countries where the Company operates and generates income.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).

Page 4

 
INTELLECT AUTOMATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Taxation


2023
2022
£
£

Corporation tax


Adjustments in respect of previous periods
(4,918)
-


(4,918)
-


Total current tax
(4,918)
-

Factors affecting tax charge for the year and prior year

The company anticipates a tax credit refund following a research and development claim for the year to 31 December 2023 which should give rise to a tax refund the credit for which will be included in the 2024 accounts.


Factors that may affect future tax charges

The company has tax losses of £242,959 to offset against future profits of the company.

Page 5

 
INTELLECT AUTOMATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
1,821
12,353
14,174


Additions
-
798
798



At 31 December 2023

1,821
13,151
14,972



Depreciation


At 1 January 2023
1,821
9,930
11,751


Charge for the year on owned assets
-
1,694
1,694



At 31 December 2023

1,821
11,624
13,445



Net book value



At 31 December 2023
-
1,527
1,527



At 31 December 2022
-
2,423
2,423

Page 6

 
INTELLECT AUTOMATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
-
4,740

Directors loan account
29
31

29
4,771



7.


Cash

2023
2022
£
£

Cash at bank
29,347
29,053

29,347
29,053



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
3,344
2,484

Amounts owed to group undertakings
447,815
478,143

Other taxation and social security
1,220
4,257

Accruals and deferred income
2,500
7,962

454,879
492,846



9.


Parent undertaking and Controlling party

The company's parent undertaking is Intellect Automation International Pty Limited. The ultimate controlling party is W. J. Kinston.

 
Page 7