Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31false52023-02-01No description of principal activity5truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12085278 2023-02-01 2024-01-31 12085278 2022-02-01 2023-01-31 12085278 2024-01-31 12085278 2023-01-31 12085278 c:Director1 2023-02-01 2024-01-31 12085278 c:Director2 2023-02-01 2024-01-31 12085278 c:Director3 2023-02-01 2024-01-31 12085278 c:Director5 2023-02-01 2024-01-31 12085278 c:RegisteredOffice 2023-02-01 2024-01-31 12085278 d:PatentsTrademarksLicencesConcessionsSimilar 2024-01-31 12085278 d:PatentsTrademarksLicencesConcessionsSimilar 2023-01-31 12085278 d:CurrentFinancialInstruments 2024-01-31 12085278 d:CurrentFinancialInstruments 2023-01-31 12085278 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 12085278 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 12085278 d:ShareCapital 2024-01-31 12085278 d:ShareCapital 2023-01-31 12085278 d:RetainedEarningsAccumulatedLosses 2024-01-31 12085278 d:RetainedEarningsAccumulatedLosses 2023-01-31 12085278 c:FRS102 2023-02-01 2024-01-31 12085278 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 12085278 c:FullAccounts 2023-02-01 2024-01-31 12085278 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 12085278 6 2023-02-01 2024-01-31 12085278 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2023-02-01 2024-01-31 12085278 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure
Registered number: 12085278









 

FORWARDINNOVATION LIMITED

FINANCIAL STATEMENTS
 
FOR THE YEAR ENDED 31 JANUARY 2024

 
FORWARDINNOVATION LIMITED
 

COMPANY INFORMATION


Directors
M. I. Rubinstein 
D. Vallero 
A. Zhabagin 
A. Iqbal 




Registered number
12085278



Registered office
International House
36-38 Cornhill

London

England

EC3V 3NG





 
FORWARDINNOVATION LIMITED
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Notes to the Financial Statements
 
3 - 6


 
FORWARDINNOVATION LIMITED
REGISTERED NUMBER: 12085278

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
2,359
2,753

Investments
 5 
307,734
307,734

  
310,093
310,487

Current assets
  

Debtors
 6 
762,177
747,216

Cash at bank and in hand
  
376,912
145,504

  
1,139,089
892,720

Creditors: amounts falling due within one year
 7 
(841,601)
(1,318,973)

Net current assets/(liabilities)
  
 
 
297,488
 
 
(426,253)

Net assets/(liabilities)
  
607,581
(115,766)


Capital and reserves
  

Allotted, called up and unpaid share capital
  
1
1

Profit and loss account
  
607,580
(115,767)

Equity shareholders' funds/(deficit)
  
607,581
(115,766)


Page 1

 
FORWARDINNOVATION LIMITED
REGISTERED NUMBER: 12085278

BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 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 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 Directors' Report and Statement of Income and Retained Earnings in accordance with provisions applicable to companies subject to the small companies regime, under section 444 of the Companies Act 2006.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on
28 October 2024.




D. Vallero
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
FORWARDINNOVATION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

ForwardInnovation Limited (company number: 12085278), having its registered office and principal place of business at International House, 24 Holborn Viaduct, London, England, EC1A 2BN, is a private limited company incorporated in England and Wales.

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 Section 1A of 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

Statement of Cash Flows

The Company has taken advantage of the exemption in Financial Reporting Standard 102, Section 1.7 from the requirement to produce a Statement of Cash Flows on the grounds that it is a small company.

 
2.3

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings 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.

 
2.4

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.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.7

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.

Page 3

 
FORWARDINNOVATION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the Balance Sheet date.

 
2.9

Creditors

Short-term creditors are measured at the transaction price.

 
2.10

Taxation

Tax is recognised in the Statement of Income and Retained Earnings 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 corporation 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. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2023 - 5).

Page 4

 
FORWARDINNOVATION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

4.


Intangible assets




Patents

£



Cost


At 1 February 2023 and 31 January 2024
3,935



Amortisation


At 1 February 2023
1,182


Charge for the year
394



At 31 January 2024

1,576



Net book value



At 31 January 2024
2,359



At 31 January 2023
2,753




5.


Fixed asset investments





Investments in subsidiary companies

£



Cost


At 1 February 2023 and 31 January 2024
307,734




Page 5

 
FORWARDINNOVATION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

6.


Debtors

2024
2023
£
£

Due within one year

Trade debtors
760,368
307,735

Prepayments and accrued income
1,809
439,481

762,177
747,216



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
166,663
60,370

Amounts owed to group undertakings
29,249
806,456

Other taxation and social security
111,576
80,366

Other creditors
-
231,308

Accruals and deferred income
341,354
140,473

Corporation tax
192,759
-

841,601
1,318,973



8.


Related party transactions

The Company has taken advantage of Section 33.1A of FRS 102 in not disclosing transactions between wholly-owned members of a group.
Included within other creditors are amounts due to key management personnel of the Company of £Nil 
(2023: £172,505).
During the year £20,000 was paid to a key management personnel of the Company. 

Page 6