Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-292falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-03-012truetruefalse 08141408 2023-03-01 2024-02-29 08141408 2021-09-01 2023-02-28 08141408 2024-02-29 08141408 2023-02-28 08141408 c:Director1 2023-03-01 2024-02-29 08141408 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-02-29 08141408 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-02-28 08141408 d:CurrentFinancialInstruments 2024-02-29 08141408 d:CurrentFinancialInstruments 2023-02-28 08141408 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 08141408 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 08141408 d:ShareCapital 2024-02-29 08141408 d:ShareCapital 2023-02-28 08141408 c:OrdinaryShareClass1 2023-03-01 2024-02-29 08141408 c:OrdinaryShareClass1 2024-02-29 08141408 c:OrdinaryShareClass1 2023-02-28 08141408 c:FRS102 2023-03-01 2024-02-29 08141408 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 08141408 c:FullAccounts 2023-03-01 2024-02-29 08141408 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 08141408 4 2023-03-01 2024-02-29 08141408 6 2023-03-01 2024-02-29 08141408 e:PoundSterling 2023-03-01 2024-02-29 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08141408










ENGAGE GLOBAL SOLUTIONS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
ENGAGE GLOBAL SOLUTIONS LIMITED
REGISTERED NUMBER: 08141408

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
1
1

  
1
1

Current assets
  

Debtors: amounts falling due within one year
 5 
-
1,700

Cash at bank and in hand
 6 
405
849

  
405
2,549

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(404)
(2,548)

Net current assets
  
 
 
1
 
 
1

Total assets less current liabilities
  
2
2

  

Net assets
  
2
2


Capital and reserves
  

Called up share capital 
 8 
2
2

  
2
2


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 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 by: 

A M Philpot
Director
Date: 10 October 2024

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
ENGAGE GLOBAL SOLUTIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Engage Global Solutions is a private company limited by share capital and incorporated in England and Wales. The registered office and principal place of business is 50-56 Portman Road, Reading, Berkshire, RG30 1EA.
The principal activity of the company continued to be that of a provider of Global Education Programs, Certification and Courseware for the IT training industry.

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

Turnover

Turnover comprises of revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.
The company recognises income from exam fees when the right to take the exam transfers to the customer.
Fees from Geo-Distributors are based on a percentage of revenues generated from membership subscriptions sold and are recognised as revenue by the company on the invoice date.

 
2.3

Current and deferred 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 2

 
ENGAGE GLOBAL SOLUTIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

  
2.4

Intangible assets

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of comprehensive income over its useful economic life.
Intangible fixed assets represent software and development project costs. Amortisation is provided at rates calculated to write off the cost over the expected useful lives of the projects. Amortisation is not charged in the year of purchase and is ammortised on a 3 year straight line basis.

 
2.5

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.7

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.

 
2.8

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.

 
2.9

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 3

 
ENGAGE GLOBAL SOLUTIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.10

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Intangible assets






Development costs

£



Cost


At 1 March 2023
547,044



At 29 February 2024

547,044



Amortisation


At 1 March 2023
547,043



At 29 February 2024

547,043



Net book value



At 29 February 2024
1



At 28 February 2023
1



Page 4

 
ENGAGE GLOBAL SOLUTIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Debtors

29 February
28 February
2024
2023
£
£


Amounts owed by group undertakings
-
1,323

Other debtors
-
377

-
1,700



6.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
405
849



7.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Trade creditors
-
642

Amounts owed to group undertakings
394
-

Other creditors
10
1,906

404
2,548



8.


Share capital

29 February
28 February
2024
2023
£
£
Allotted, called up and fully paid



2 (2023 - 2) Ordinary shares of £1 each
2
2



9.


Related party transactions

At 29 February 2023 the company owed £394 to Knowledgepoint Limited, a company under common directorship. In the prior year the company was owed £1,323 from Knowledgepoint Limited.

Page 5

 
ENGAGE GLOBAL SOLUTIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

10.


Controlling party

The ultimate parent company is KnowledgePoint Limited, a company registered in England and Wales.


Page 6