Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-3146No description of principal activity2023-06-01falsetruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 13403796 2023-06-01 2024-03-31 13403796 2022-06-01 2023-05-31 13403796 2024-03-31 13403796 2023-05-31 13403796 2022-06-01 13403796 c:Director1 2023-06-01 2024-03-31 13403796 d:OfficeEquipment 2023-06-01 2024-03-31 13403796 d:OfficeEquipment 2024-03-31 13403796 d:OfficeEquipment 2023-05-31 13403796 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-03-31 13403796 d:CurrentFinancialInstruments 2024-03-31 13403796 d:CurrentFinancialInstruments 2023-05-31 13403796 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 13403796 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 13403796 d:ShareCapital 2023-06-01 2024-03-31 13403796 d:ShareCapital 2024-03-31 13403796 d:ShareCapital 2022-06-01 2023-05-31 13403796 d:ShareCapital 2023-05-31 13403796 d:ShareCapital 2022-06-01 13403796 d:RetainedEarningsAccumulatedLosses 2023-06-01 2024-03-31 13403796 d:RetainedEarningsAccumulatedLosses 2024-03-31 13403796 d:RetainedEarningsAccumulatedLosses 2022-06-01 2023-05-31 13403796 d:RetainedEarningsAccumulatedLosses 2023-05-31 13403796 d:RetainedEarningsAccumulatedLosses 2022-06-01 13403796 c:OrdinaryShareClass1 2023-06-01 2024-03-31 13403796 c:OrdinaryShareClass1 2024-03-31 13403796 c:OrdinaryShareClass1 2023-05-31 13403796 c:OrdinaryShareClass2 2023-06-01 2024-03-31 13403796 c:OrdinaryShareClass2 2024-03-31 13403796 c:OrdinaryShareClass2 2023-05-31 13403796 c:OrdinaryShareClass3 2023-06-01 2024-03-31 13403796 c:OrdinaryShareClass3 2024-03-31 13403796 c:OrdinaryShareClass3 2023-05-31 13403796 c:FRS102 2023-06-01 2024-03-31 13403796 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-03-31 13403796 c:FullAccounts 2023-06-01 2024-03-31 13403796 c:PrivateLimitedCompanyLtd 2023-06-01 2024-03-31 13403796 2 2023-06-01 2024-03-31 13403796 e:PoundSterling 2023-06-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 13403796






ON TOP OF THE WORD LIMITED

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

 
ON TOP OF THE WORD LIMITED
REGISTERED NUMBER: 13403796

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

31 March
31 May
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
4,174
1,166

  
4,174
1,166

Current assets
  

Debtors: amounts falling due within one year
 5 
47,592
33,693

Cash at bank and in hand
 6 
5,209
18,660

  
52,801
52,353

Creditors: amounts falling due within one year
 7 
(55,194)
(53,289)

Net current liabilities
  
 
 
(2,393)
 
 
(936)

Total assets less current liabilities
  
1,781
230

  

Net assets
  
1,781
230


Capital and reserves
  

Called up share capital 
 8 
10
10

Profit and loss account
 9 
1,771
220

  
1,781
230


Page 1

 
ON TOP OF THE WORD LIMITED
REGISTERED NUMBER: 13403796
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

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 period 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 31 August 2024.




A M S Cooke
Director

The notes on pages 5 to 10 form part of these financial statements.

Page 2

 
ON TOP OF THE WORD LIMITED
 

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


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 June 2023
10
220
230


Comprehensive income for the period

Profit for the period
-
41,551
41,551
Total comprehensive income for the period
-
41,551
41,551


Contributions by and distributions to owners

Dividends: Equity capital
-
(40,000)
(40,000)


Total transactions with owners
-
(40,000)
(40,000)


At 31 March 2024
10
1,771
1,781


The notes on pages 5 to 10 form part of these financial statements.

Page 3

 
ON TOP OF THE WORD LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 MAY 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 June 2022
10
25
35


Comprehensive income for the year

Profit for the year
-
67,195
67,195
Total comprehensive income for the year
-
67,195
67,195


Contributions by and distributions to owners

Dividends: Equity capital
-
(67,000)
(67,000)


Total transactions with owners
-
(67,000)
(67,000)


At 31 May 2023
10
220
230


The notes on pages 5 to 10 form part of these financial statements.

Page 4

 
ON TOP OF THE WORD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 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

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.

 
1.3

Interest income

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

 
1.4

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.

 
1.5

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.

Page 5

 
ON TOP OF THE WORD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.Accounting policies (continued)

 
1.6

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

 
1.7

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
-
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.

 
1.8

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.

 
1.9

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.

 
1.10

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

 
ON TOP OF THE WORD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.Accounting policies (continued)

 
1.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


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

2024
2023
£
£

Wages and salaries
72,630
18,511

Social security costs
2,060
-

Cost of defined contribution scheme
342
138

75,032
18,649


The average monthly number of employees, including directors, during the period was 6 (2023 - 4).

Page 7

 
ON TOP OF THE WORD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

4.


Tangible fixed assets







Office equipment

£



Cost or valuation


At 1 June 2023
1,565


Additions
3,704



At 31 March 2024

5,269



Depreciation


At 1 June 2023
399


Charge for the period on owned assets
696



At 31 March 2024

1,095



Net book value



At 31 March 2024
4,174



At 31 May 2023
1,166


5.


Debtors

31 March
31 May
2024
2023
£
£


Trade debtors
9,883
411

Amounts owed by group undertakings
36,269
31,842

Other debtors
1,440
1,440

47,592
33,693


Page 8

 
ON TOP OF THE WORD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

6.


Cash and cash equivalents

31 March
31 May
2024
2023
£
£

Cash at bank and in hand
5,209
18,660

5,209
18,660



7.


Creditors: Amounts falling due within one year

31 March
31 May
2024
2023
£
£

Trade creditors
-
3,100

Amounts owed to joint ventures
6,466
21,295

Corporation tax
26,154
16,318

Other taxation and social security
13,877
8,709

Other creditors
6,897
2,067

Accruals and deferred income
1,800
1,800

55,194
53,289


31 March
31 May
2024
2023
£
£

Other taxation and social security

PAYE/NI control
4,104
65

VAT control
9,773
8,645

13,877
8,710


Page 9

 
ON TOP OF THE WORD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

8.


Share capital

31 March
31 May
2024
2023
£
£
Allotted, called up and fully paid



5,000 (2023 - 5,000) A Ordinary shares of £0.001 each
5
5
3,333 (2023 - 3,330) B Ordinary shares of £0.001 each
3
3
1,667 (2023 - 1,670) C Ordinary shares of £0.001 each
2
2

10

10



9.


Reserves

Profit and loss account

The profit and loss reserve is fully distributable.


10.


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 £342 (2023 - £138) . Contributions totalling £117 (2023 - £73) were payable to the fund at the reporting date and are included in creditors.

 
Page 10