Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.212023-04-01No description of principal activity27truetruefalse 12335370 2023-04-01 2024-03-31 12335370 2022-04-01 2023-03-31 12335370 2024-03-31 12335370 2023-03-31 12335370 2022-04-01 12335370 c:Director1 2023-04-01 2024-03-31 12335370 d:FurnitureFittings 2023-04-01 2024-03-31 12335370 d:FurnitureFittings 2024-03-31 12335370 d:FurnitureFittings 2023-03-31 12335370 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 12335370 d:OfficeEquipment 2023-04-01 2024-03-31 12335370 d:OfficeEquipment 2024-03-31 12335370 d:OfficeEquipment 2023-03-31 12335370 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 12335370 d:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 12335370 d:OtherPropertyPlantEquipment 2024-03-31 12335370 d:OtherPropertyPlantEquipment 2023-03-31 12335370 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 12335370 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 12335370 d:CurrentFinancialInstruments 2024-03-31 12335370 d:CurrentFinancialInstruments 2023-03-31 12335370 d:Non-currentFinancialInstruments 2024-03-31 12335370 d:Non-currentFinancialInstruments 2023-03-31 12335370 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 12335370 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 12335370 d:ShareCapital 2023-04-01 2024-03-31 12335370 d:ShareCapital 2024-03-31 12335370 d:ShareCapital 2022-04-01 2023-03-31 12335370 d:ShareCapital 2023-03-31 12335370 d:ShareCapital 2022-04-01 12335370 d:SharePremium 2023-04-01 2024-03-31 12335370 d:SharePremium 2024-03-31 12335370 d:SharePremium 2022-04-01 2023-03-31 12335370 d:SharePremium 2023-03-31 12335370 d:SharePremium 2022-04-01 12335370 d:CapitalRedemptionReserve 2023-04-01 2024-03-31 12335370 d:CapitalRedemptionReserve 2024-03-31 12335370 d:CapitalRedemptionReserve 2022-04-01 2023-03-31 12335370 d:CapitalRedemptionReserve 2023-03-31 12335370 d:CapitalRedemptionReserve 2022-04-01 12335370 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 12335370 d:RetainedEarningsAccumulatedLosses 2024-03-31 12335370 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 12335370 d:RetainedEarningsAccumulatedLosses 2023-03-31 12335370 d:RetainedEarningsAccumulatedLosses 2022-04-01 12335370 c:OrdinaryShareClass1 2023-04-01 2024-03-31 12335370 c:OrdinaryShareClass1 2024-03-31 12335370 c:OrdinaryShareClass1 2023-03-31 12335370 c:OrdinaryShareClass2 2023-04-01 2024-03-31 12335370 c:OrdinaryShareClass2 2024-03-31 12335370 c:OrdinaryShareClass2 2023-03-31 12335370 c:OrdinaryShareClass3 2023-04-01 2024-03-31 12335370 c:OrdinaryShareClass3 2024-03-31 12335370 c:OrdinaryShareClass3 2023-03-31 12335370 c:OrdinaryShareClass4 2023-04-01 2024-03-31 12335370 c:OrdinaryShareClass4 2024-03-31 12335370 c:FRS102 2023-04-01 2024-03-31 12335370 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 12335370 c:FullAccounts 2023-04-01 2024-03-31 12335370 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12335370 2 2023-04-01 2024-03-31 12335370 6 2023-04-01 2024-03-31 12335370 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 12335370






GENERAL INDEX LIMITED

UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MARCH 2024

 
GENERAL INDEX LIMITED
REGISTERED NUMBER: 12335370

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
27,711
23,065

Investments
 5 
2
2

  
27,713
23,067

Current assets
  

Debtors: amounts falling due after more than one year
 6 
2,659,270
1,958,039

Debtors: amounts falling due within one year
 6 
242,351
441,963

Cash at bank and in hand
 7 
6,836,273
1,239,657

  
9,737,894
3,639,659

Creditors: amounts falling due within one year
 8 
(1,276,276)
(907,064)

Net current assets
  
 
 
8,461,618
 
 
2,732,595

Total assets less current liabilities
  
8,489,331
2,755,662

  

Net assets
  
8,489,331
2,755,662


Capital and reserves
  

Called up share capital 
 9 
51
40

Share premium account
 10 
16,228,607
6,630,558

Capital redemption reserve
 10 
6
6

Profit and loss account
 10 
(7,739,333)
(3,874,942)

  
8,489,331
2,755,662


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.

Page 1

 
GENERAL INDEX LIMITED
REGISTERED NUMBER: 12335370
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

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.




N R J Bradford
Director

The notes on pages 4 to 11 form part of these financial statements.

Page 2

 
GENERAL INDEX LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


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

£
£
£
£
£


At 1 April 2022
35
4,765,286
6
(2,219,309)
2,546,018


Comprehensive income for the year

Loss for the year
-
-
-
(1,655,633)
(1,655,633)
Total comprehensive income for the year
-
-
-
(1,655,633)
(1,655,633)


Contributions by and distributions to owners

Shares issued during the year
5
1,865,272
-
-
1,865,277


Total transactions with owners
5
1,865,272
-
-
1,865,277



At 1 April 2023
40
6,630,558
6
(3,874,942)
2,755,662


Comprehensive income for the year

Loss for the year
-
-
-
(3,864,391)
(3,864,391)
Total comprehensive income for the year
-
-
-
(3,864,391)
(3,864,391)


Contributions by and distributions to owners

Shares issued during the year
11
9,598,049
-
-
9,598,060


Total transactions with owners
11
9,598,049
-
-
9,598,060


At 31 March 2024
51
16,228,607
6
(7,739,333)
8,489,331


The notes on pages 4 to 11 form part of these financial statements.

Page 3

 
GENERAL INDEX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.Accounting policies

 
1.1

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:

 
1.2

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.

 
1.3

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.

 
1.4

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.

Page 4

 
GENERAL INDEX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.Accounting policies (continued)

 
1.5

Interest income

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

 
1.6

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.

 
1.7

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 Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
1.8

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.

 
1.9

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.

Page 5

 
GENERAL INDEX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.Accounting policies (continued)


1.9
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:

Fixtures and fittings
-
20%
Office equipment
-
25%
Property improvements
-
20%

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.

 
1.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
1.11

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.

 
1.12

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.

 
1.13

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

 
GENERAL INDEX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily ascertainable from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual outcomes may differ from these estimates.
The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised.
The key areas of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:
Prepayments & Accrued Expenditure
The company includes a provision for invoices which are yet to be received from and amounts paid in advance to suppliers. These provisions are estimated based upon the expected values of the invoices which are issued and services received following the period end.


3.


Employees

The average monthly number of employees, including directors, during the year was 27 (2023 - 21).

Page 7

 
GENERAL INDEX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Property improvements
Total

£
£
£
£



Cost or valuation


At 1 April 2023
-
36,269
5,162
41,431


Additions
3,647
8,690
6,637
18,974



At 31 March 2024

3,647
44,959
11,799
60,405



Depreciation


At 1 April 2023
-
18,279
86
18,365


Charge for the year on owned assets
729
11,240
2,360
14,329



At 31 March 2024

729
29,519
2,446
32,694



Net book value



At 31 March 2024
2,918
15,440
9,353
27,711



At 31 March 2023
-
17,989
5,076
23,065


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2023
2



At 31 March 2024
2




Page 8

 
GENERAL INDEX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Debtors

2024
2023
£
£

Due after more than one year

Amounts owed by group undertakings
2,659,270
1,958,039

2,659,270
1,958,039


2024
2023
£
£

Due within one year

Trade debtors
208,008
407,763

Other debtors
34,200
34,200

Prepayments and accrued income
143
-

242,351
441,963



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
6,836,273
1,239,657

6,836,273
1,239,657


Page 9

 
GENERAL INDEX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
61,125
31,960

Amounts owed to group undertakings
2
2

Other taxation and social security
62,305
68,698

Other creditors
82,401
65,245

Accruals and deferred income
1,070,443
741,159

1,276,276
907,064


2024
2023
£
£

Other taxation and social security

PAYE/NI control
58,720
54,580

VAT control
3,586
14,118

62,306
68,698



9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,750,000 (2023 - 1,750,000) Ordinary A shares of £0.00001 each
17.5000
17.5000
998,223 (2023 - 807,000) Ordinary B shares of £0.00001 each
9.9822
8.0700
1,445,330 (2023 - 1,445,330) Series Seed Preferred shares of £0.00001 each
14.4533
14.4533
928,553 (2023 - ) Series A Preferred shares of £0.00001 each
9.2855
-

51.2210

40.0233


On 23 April 2024, an additional 15,000 Ordinary C Shares of £0.00001 each were issued at £8.57 per share.

Page 10

 
GENERAL INDEX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Reserves

Share premium account

The share premium account is non-distributable.

Capital redemption reserve

The capital redemption reserve is non-distributable.

Profit and loss account

The profit and loss reserve is fully distributable.


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £23,998 (2023 - £17,289). Contributions totalling £5,251 (2023 - £4,964)  were payable to the fund at the balance sheet date and are included in creditors.

 
Page 11