Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312No description of principal activitytruefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true2023-02-03false 14636877 2023-02-02 14636877 2023-02-03 2024-03-31 14636877 2022-02-03 2023-02-02 14636877 2024-03-31 14636877 c:Director1 2023-02-03 2024-03-31 14636877 d:CurrentFinancialInstruments 2024-03-31 14636877 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 14636877 d:ShareCapital 2023-02-03 2024-03-31 14636877 d:ShareCapital 2024-03-31 14636877 c:OrdinaryShareClass1 2023-02-03 2024-03-31 14636877 c:OrdinaryShareClass1 2024-03-31 14636877 c:FRS102 2023-02-03 2024-03-31 14636877 c:AuditExempt-NoAccountantsReport 2023-02-03 2024-03-31 14636877 c:FullAccounts 2023-02-03 2024-03-31 14636877 c:PrivateLimitedCompanyLtd 2023-02-03 2024-03-31 14636877 e:PoundSterling 2023-02-03 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 14636877









KV62 2023 LIMITED

FILLETED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024







































 
KV62 2023 LIMITED
REGISTERED NUMBER: 14636877

BALANCE SHEET
AS AT 31 MARCH 2024

2024
Note
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
4

Cash at bank and in hand
 5 
31,437

  
31,441

Creditors: amounts falling due within one year
 6 
(31,437)

Net current assets
  
 
 
4

Total assets less current liabilities
  
4

  

Net assets
  
4


Capital and reserves
  

Called up share capital 
 7 
4

  
4


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 by: 




G S Ballard
Director

Date: 25 October 2024

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

Page 1

 
KV62 2023 LIMITED
 

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


Called up share capital
Total equity

£
£

Shares issued during the period
4
4


At 31 March 2024
4
4

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

Page 2

 
KV62 2023 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

The company is a private company limited by shares incorporated in England and Wales, registered number 14636877. The address of its registered office is 86 Commercial End, Swaffham Bulbeck, Cambridge, Cambridgeshire, CB25 0NE.
The company was incorporated on 3rd February 2023 and these financial statements cover the period from incorporation to 31 March 2024.

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

These financial statements have been prepared 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:

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.

 
2.4

Grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure. Any unspent grant money at the Balance Sheet date is deferred within creditors.

Page 3

 
KV62 2023 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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.

 
2.7

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

 
KV62 2023 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

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.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) 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 debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
 
Page 5

 
KV62 2023 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.8
Financial instruments (continued)

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees




The average monthly number of employees, including directors, during the period was 2.


4.


Debtors

2024
£


Called up share capital not paid
4



5.


Cash and cash equivalents

2024
£

Cash at bank and in hand
31,437


Page 6

 
KV62 2023 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

6.


Creditors: Amounts falling due within one year

2024
£

Other creditors
500

Accruals and deferred income
30,937

31,437



7.


Share capital

2024
£
Allotted, called up and fully paid


400 Ordinary shares of £0.01 each
4


The company was initially incorporated with 1 ordinary share of £1. Subsequently, the shares were subdivided into 100 ordinary shares of £0.01 each. During the period, a further 300 ordinary shares were issued at par.

 
Page 7