Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-01-01falseNo description of principal activity53falsetruefalse 14041502 2023-01-01 2023-12-31 14041502 2022-04-12 2022-12-31 14041502 2023-12-31 14041502 2022-12-31 14041502 c:Director1 2023-01-01 2023-12-31 14041502 d:Buildings d:LongLeaseholdAssets 2023-01-01 2023-12-31 14041502 d:Buildings d:LongLeaseholdAssets 2023-12-31 14041502 d:Buildings d:LongLeaseholdAssets 2022-12-31 14041502 d:PlantMachinery 2023-01-01 2023-12-31 14041502 d:PlantMachinery 2023-12-31 14041502 d:PlantMachinery 2022-12-31 14041502 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 14041502 d:ComputerEquipment 2023-01-01 2023-12-31 14041502 d:ComputerEquipment 2023-12-31 14041502 d:ComputerEquipment 2022-12-31 14041502 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 14041502 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 14041502 d:CurrentFinancialInstruments 2023-12-31 14041502 d:CurrentFinancialInstruments 2022-12-31 14041502 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 14041502 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 14041502 d:ShareCapital 2023-12-31 14041502 d:ShareCapital 2022-12-31 14041502 d:SharePremium 2023-12-31 14041502 d:SharePremium 2022-12-31 14041502 d:RetainedEarningsAccumulatedLosses 2023-12-31 14041502 d:RetainedEarningsAccumulatedLosses 2022-12-31 14041502 c:OrdinaryShareClass1 2023-01-01 2023-12-31 14041502 c:OrdinaryShareClass1 2023-12-31 14041502 c:OrdinaryShareClass1 2022-12-31 14041502 c:OrdinaryShareClass2 2023-01-01 2023-12-31 14041502 c:OrdinaryShareClass2 2023-12-31 14041502 c:OrdinaryShareClass2 2022-12-31 14041502 c:FRS102 2023-01-01 2023-12-31 14041502 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 14041502 c:FullAccounts 2023-01-01 2023-12-31 14041502 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 14041502 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 14041502










ELIPTICA LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
ELIPTICA LIMITED
REGISTERED NUMBER: 14041502

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
312,287
20,065

  
312,287
20,065

Current assets
  

Debtors: amounts falling due within one year
 5 
129,131
289,715

Cash at bank and in hand
  
2,148,850
1,476,592

  
2,277,981
1,766,307

  

Creditors: amounts falling due within one year
 6 
(58,772)
(15,327)

Net current assets
  
 
 
2,219,209
 
 
1,750,980

Total assets less current liabilities
  
2,531,496
1,771,045

  

Net assets
  
2,531,496
1,771,045


Capital and reserves
  

Called up share capital 
 7 
318
257

Share premium account
  
3,999,882
1,999,943

Profit and loss account
  
(1,468,704)
(229,155)

  
2,531,496
1,771,045


Page 1

 
ELIPTICA LIMITED
REGISTERED NUMBER: 14041502

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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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: 


................................................
C Brigden
Director

Date: 21 October 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
ELIPTICA LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Eliptica Limited is a private company limited by shares, incorporated and registered in England and Wales. The Company's registered office is C/O Davis Grant Ltd, Treviot House, 186-192 High Road,  Ilford, Essex, IG1 1LR.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

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.

 
2.3

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.

 
2.4

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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
ELIPTICA LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

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:

Improvements to leasehold
-
50%
Plant and machinery
-
20%
Computer equipment
-
33%

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.

 
2.6

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.

 
2.7

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 4

 
ELIPTICA LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


     31 December
   8 months ended
      31 December
        2023
        2022
            No.
            No.







Average number of employees including directors
5
3

Page 5

 
ELIPTICA LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Leasehold improvements
Plant and machinery
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2023
3,669
-
17,367
21,036


Additions
11,604
352,254
10,379
374,237



At 31 December 2023

15,273
352,254
27,746
395,273



Depreciation


At 1 January 2023
459
-
512
971


Charge for the year on owned assets
5,772
67,474
8,769
82,015



At 31 December 2023

6,231
67,474
9,281
82,986



Net book value



At 31 December 2023
9,042
284,780
18,465
312,287



At 31 December 2022
3,210
-
16,855
20,065


5.


Debtors

2023
2022
£
£


Prepayments and accrued income
35,607
18,029

Other debtors
93,524
271,686

129,131
289,715



6.


Creditors: amounts falling due within one year

2023
2022
£
£

Trade creditors
23,722
21

Accruals and deferred income
18,459
7,450

Other creditors
1,667
-

Other taxation and social security
14,924
7,856

58,772
15,327


Page 6

 
ELIPTICA LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



2,000,000 (2022 - 2,000,000) Ordinary shares of £0.0001 each
200
200
1,176,100 (2022 - 570,000) Preference shares of £0.0001 each
118
57

318

257


During the year 606,100 seed preference shares of £0.0001 were issued for the consideration of £2,000,000.


8.


Pension commitments

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.
During the year contributions of £10,478 were paid to the scheme (2022: nil).
At the balance sheet date £1,667 was owed to the scheme (2022: nil).


Page 7