Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falsesupply of IT and software services22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 06808841 2023-01-01 2023-12-31 06808841 2022-01-01 2022-12-31 06808841 2023-12-31 06808841 2022-12-31 06808841 c:Director2 2023-01-01 2023-12-31 06808841 d:ComputerEquipment 2023-01-01 2023-12-31 06808841 d:ComputerEquipment 2023-12-31 06808841 d:ComputerEquipment 2022-12-31 06808841 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 06808841 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 06808841 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 06808841 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-12-31 06808841 d:CopyrightsPatentsTrademarksServiceOperatingRights 2022-12-31 06808841 d:CurrentFinancialInstruments 2023-12-31 06808841 d:CurrentFinancialInstruments 2022-12-31 06808841 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 06808841 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 06808841 d:ShareCapital 2023-12-31 06808841 d:ShareCapital 2022-12-31 06808841 d:SharePremium 2023-12-31 06808841 d:SharePremium 2022-12-31 06808841 d:RetainedEarningsAccumulatedLosses 2023-12-31 06808841 d:RetainedEarningsAccumulatedLosses 2022-12-31 06808841 c:FRS102 2023-01-01 2023-12-31 06808841 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 06808841 c:FullAccounts 2023-01-01 2023-12-31 06808841 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06808841 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 06808841 d:CopyrightsPatentsTrademarksServiceOperatingRights d:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 06808841 2 2023-01-01 2023-12-31 06808841 6 2023-01-01 2023-12-31 06808841 d:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 06808841 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-01-01 2023-12-31 06808841 d:CopyrightsPatentsTrademarksServiceOperatingRights d:OwnedIntangibleAssets 2023-01-01 2023-12-31 06808841 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number:  06808841














LCTM HOLDINGS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


 
LCTM HOLDINGS LIMITED
REGISTERED NUMBER: 06808841

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
  
275,246
36,704

Tangible assets
  
917
-

Investments
 6 
100
100

  
276,263
36,804

Current assets
  

Debtors: amounts falling due within one year
 7 
27,499
268,341

Cash at bank and in hand
 8 
13,314
-

  
40,813
268,341

Creditors: amounts falling due within one year
 9 
(162,935)
(112,187)

Net current (liabilities)/assets
  
 
 
(122,122)
 
 
156,154

Total assets less current liabilities
  
154,141
192,958

  

Net assets
  
154,141
192,958


Capital and reserves
  

Called up share capital 
  
570
570

Share premium account
  
152,644
152,644

Profit and loss account
  
927
39,744

  
154,141
192,958


Page 1

 
LCTM HOLDINGS LIMITED
REGISTERED NUMBER: 06808841
    
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 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 by: 




................................................
J Matthews
Director

Date: 30 September 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
LCTM HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The company is a private company limited by shares, which is incorporated under the Companies Act 2006 and registered in England (no 06808841). The address of the registered office is The Plaza, 100 Old Hall Street, Liverpool, L3 9QJ.
These financial statements present information about a company as an individual undertaking. The principal activity of company is that of the supply of IT and software 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 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 Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
LCTM HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
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 discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
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 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.

 
2.5

Interest income

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

 
2.6

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

 
LCTM HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

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.

 
2.8

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:

Computer equipment
-
25%

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.

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.10

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.

 
2.11

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.

 
2.12

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 5

 
LCTM HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Intangible assets




Develop-ment expenditure
Other intangibles
Total

£
£
£



Cost


At 1 January 2023
41,947
-
41,947


Additions
-
249,029
249,029



At 31 December 2023

41,947
249,029
290,976



Amortisation


At 1 January 2023
5,243
-
5,243


Charge for the year on owned assets
10,487
-
10,487



At 31 December 2023

15,730
-
15,730



Net book value



At 31 December 2023
26,217
249,029
275,246



At 31 December 2022
36,704
-
36,704



Page 6

 
LCTM HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Computer equipment

£



Cost or valuation


Additions
1,223



At 31 December 2023

1,223



Depreciation


Charge for the year on owned assets
306



At 31 December 2023

306



Net book value



At 31 December 2023
917



At 31 December 2022
-


6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
100



At 31 December 2023
100




Page 7

 
LCTM HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Debtors

2023
2022
£
£


Trade debtors
13,293
21,069

Amounts owed by group undertakings
-
247,179

Other debtors
14,206
93

27,499
268,341



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
13,314
-

13,314
-



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
850
250

Other creditors
109,490
100,398

Accruals and deferred income
52,595
11,539

162,935
112,187



10.


Related party transactions

Included in debtors is an amount of £Nil (2022: £247,179) owed from Paper on Glass Limited, a subsidiary company.
Included in creditors is an amount of £109,491 (2022: £100,398) owed to J Matthews, a director.
The loans are repayable on demand and no interest has been charged.


11.


Controlling party

There is no controlling party.

 
Page 8