Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31No description of principal activitytrue42023-01-01false1trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12370771 2023-01-01 2023-12-31 12370771 2022-01-01 2022-12-31 12370771 2023-12-31 12370771 2022-12-31 12370771 c:Director1 2023-01-01 2023-12-31 12370771 d:PlantMachinery 2023-01-01 2023-12-31 12370771 d:PlantMachinery 2023-12-31 12370771 d:PlantMachinery 2022-12-31 12370771 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12370771 d:FurnitureFittings 2023-01-01 2023-12-31 12370771 d:FurnitureFittings 2023-12-31 12370771 d:FurnitureFittings 2022-12-31 12370771 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12370771 d:OfficeEquipment 2023-01-01 2023-12-31 12370771 d:OfficeEquipment 2023-12-31 12370771 d:OfficeEquipment 2022-12-31 12370771 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12370771 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12370771 d:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 12370771 d:PatentsTrademarksLicencesConcessionsSimilar 2022-12-31 12370771 d:CurrentFinancialInstruments 2023-12-31 12370771 d:CurrentFinancialInstruments 2022-12-31 12370771 d:Non-currentFinancialInstruments 2023-12-31 12370771 d:Non-currentFinancialInstruments 2022-12-31 12370771 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 12370771 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 12370771 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 12370771 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 12370771 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 12370771 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 12370771 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-12-31 12370771 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-12-31 12370771 d:ShareCapital 2023-12-31 12370771 d:ShareCapital 2022-12-31 12370771 d:SharePremium 2023-12-31 12370771 d:SharePremium 2022-12-31 12370771 d:RetainedEarningsAccumulatedLosses 2023-12-31 12370771 d:RetainedEarningsAccumulatedLosses 2022-12-31 12370771 c:FRS102 2023-01-01 2023-12-31 12370771 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 12370771 c:FullAccounts 2023-01-01 2023-12-31 12370771 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12370771 d:PatentsTrademarksLicencesConcessionsSimilar d:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 12370771 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2023-01-01 2023-12-31 12370771 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 12370771









SO-G TECHNOLOGY LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
SO-G TECHNOLOGY LTD
REGISTERED NUMBER: 12370771

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
  
7,500
-

Tangible assets
 5 
19,044
9,842

  
26,544
9,842

Current assets
  

Debtors: amounts falling due after more than one year
 6 
21,000
15,500

Debtors: amounts falling due within one year
 6 
102,841
78,532

Cash at bank and in hand
 7 
171,934
366,673

  
295,775
460,705

Creditors: amounts falling due within one year
 8 
(182,196)
(173,723)

Net current assets
  
 
 
113,579
 
 
286,982

Total assets less current liabilities
  
140,123
296,824

Creditors: amounts falling due after more than one year
 9 
(226,730)
(64,317)

  

Net (liabilities)/assets
  
(86,607)
232,507


Capital and reserves
  

Called up share capital 
  
1
1

Share premium account
  
437,966
437,966

Profit and loss account
  
(524,574)
(205,460)

  
(86,607)
232,507


Page 1

 
SO-G TECHNOLOGY LTD
REGISTERED NUMBER: 12370771
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers 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 director acknowledges his 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: 




................................................
Mr S O Grossman
Director

Date: 26 September 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
SO-G TECHNOLOGY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

SO-G Technology Ltd is a private company limited by shares. The company is incorporated in England and Wales, and the adderss of its registered office is 5 Stirling Court Yard, Borehamwood, WD6 2FX. 

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

Going concern

The company's liabilities exceeds its assets, however, the company retains the financial support of its shareholder and as such the director considers it appropriate to prepare the accounts on a going concern basis.

 
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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Page 3

 
SO-G TECHNOLOGY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
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. 
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

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.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
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, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Fixtures and fittings
-
25%
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.

Page 4

 
SO-G TECHNOLOGY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

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.

 
2.10

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.

 
2.11

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.


3.


Employees

2023
2022
£
£

Wages and salaries
-
18,200

-
18,200


The average monthly number of employees, including directors, during the year was 4 (2022 - 1).

Page 5

 
SO-G TECHNOLOGY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Intangible assets




Patents

£



Cost


Additions
8,333



At 31 December 2023

8,333



Amortisation


Charge for the year on owned assets
833



At 31 December 2023

833



Net book value



At 31 December 2023
7,500



At 31 December 2022
-



Page 6

 
SO-G TECHNOLOGY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2023
12,824
-
299
13,123


Additions
1,966
615
11,621
14,202



At 31 December 2023

14,790
615
11,920
27,325



Depreciation


At 1 January 2023
3,206
-
75
3,281


Charge for the year on owned assets
2,404
154
2,442
5,000



At 31 December 2023

5,610
154
2,517
8,281



Net book value



At 31 December 2023
9,180
461
9,403
19,044



At 31 December 2022
9,618
-
224
9,842


6.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors
21,000
15,500

21,000
15,500


2023
2022
£
£

Due within one year

Other debtors
102,741
78,432

Called up share capital not paid
100
100

102,841
78,532


Page 7

 
SO-G TECHNOLOGY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
171,934
366,673

171,934
366,673



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
8,625
8,519

Other loans
150,000
150,000

Corporation tax
-
526

Other taxation and social security
1,925
1,168

Other creditors
15,646
7,810

Accruals and deferred income
6,000
5,700

182,196
173,723



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
16,945
23,838

Other loans
209,785
35,195

Trade creditors
-
5,284

226,730
64,317


Page 8

 
SO-G TECHNOLOGY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
8,625
8,519

Other loans
150,000
150,000


158,625
158,519


Amounts falling due 2-5 years

Bank loans
16,944
23,838


16,944
23,838

Amounts falling due after more than 5 years

Other loans
209,785
35,195

209,785
35,195

385,354
217,552


 
Page 9