Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-02-01falseNo description of principal activity86truetruefalse 08350747 2023-02-01 2024-01-31 08350747 2022-02-01 2023-01-31 08350747 2024-01-31 08350747 2023-01-31 08350747 c:Director1 2023-02-01 2024-01-31 08350747 c:Director2 2023-02-01 2024-01-31 08350747 d:OfficeEquipment 2023-02-01 2024-01-31 08350747 d:OfficeEquipment 2024-01-31 08350747 d:OfficeEquipment 2023-01-31 08350747 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 08350747 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-02-01 2024-01-31 08350747 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-31 08350747 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-31 08350747 d:ComputerSoftware 2024-01-31 08350747 d:ComputerSoftware 2023-01-31 08350747 d:OtherResidualIntangibleAssets 2023-02-01 2024-01-31 08350747 d:CurrentFinancialInstruments 2024-01-31 08350747 d:CurrentFinancialInstruments 2023-01-31 08350747 d:Non-currentFinancialInstruments 2024-01-31 08350747 d:Non-currentFinancialInstruments 2023-01-31 08350747 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 08350747 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 08350747 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 08350747 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 08350747 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-01-31 08350747 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-01-31 08350747 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-01-31 08350747 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-01-31 08350747 d:ShareCapital 2024-01-31 08350747 d:ShareCapital 2023-01-31 08350747 d:SharePremium 2024-01-31 08350747 d:SharePremium 2023-01-31 08350747 d:RetainedEarningsAccumulatedLosses 2024-01-31 08350747 d:RetainedEarningsAccumulatedLosses 2023-01-31 08350747 d:AcceleratedTaxDepreciationDeferredTax 2024-01-31 08350747 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 08350747 c:FRS102 2023-02-01 2024-01-31 08350747 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 08350747 c:FullAccounts 2023-02-01 2024-01-31 08350747 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 08350747 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2023-02-01 2024-01-31 08350747 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2023-02-01 2024-01-31 08350747 2 2023-02-01 2024-01-31 08350747 d:ExternallyAcquiredIntangibleAssets 2023-02-01 2024-01-31 08350747 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-02-01 2024-01-31 08350747 d:ComputerSoftware d:OwnedIntangibleAssets 2023-02-01 2024-01-31 08350747 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure
Registered number: 08350747


ACUITY TRADING LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 JANUARY 2024

 
ACUITY TRADING LIMITED
REGISTERED NUMBER: 08350747

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
359,428
-

Tangible assets
 5 
18,345
20,624

  
377,773
20,624

Current assets
  

Debtors
 6 
1,131,028
758,743

Cash at bank and in hand
 7 
159,651
423,229

  
1,290,679
1,181,972

Creditors: amounts falling due within one year
 8 
(1,047,608)
(937,976)

Net current assets
  
 
 
243,071
 
 
243,996

Total assets less current liabilities
  
620,844
264,620

Creditors: amounts falling due after more than one year
 9 
(74,576)
(112,399)

Provisions for liabilities
  

Deferred tax
 11 
(3,932)
(3,932)

  
 
 
(3,932)
 
 
(3,932)

Net assets
  
542,336
148,289


Capital and reserves
  

Called up share capital 
  
200
200

Share premium account
  
149,950
149,950

Profit and loss account
  
392,186
(1,861)

  
542,336
148,289


Page 1

 
ACUITY TRADING LIMITED
REGISTERED NUMBER: 08350747

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 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 on 17 October 2024.




Andrew Lane
Nicole Carpenter
Director
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
ACUITY TRADING LIMITED
 

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

1.


General information

The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
86-90 Paul Street
London
EC2A 4NE
England

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

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
ACUITY TRADING LIMITED
 

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

2.Accounting policies (continued)

 
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.

 
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. 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.

 
2.5

Government 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 Income and Retained Earnings in the same period as the related expenditure.

Page 4

 
ACUITY TRADING LIMITED
 

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

2.Accounting policies (continued)

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

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.

 
2.8

Borrowing costs

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

 
2.9

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.

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 5

 
ACUITY TRADING LIMITED
 

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

2.Accounting policies (continued)

 
2.11

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.

 The estimated useful lives range as follows:

Development expenditure
-
5
years
Other intangible fixed assets
-
4
years

 
2.12

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:

Office equipment
-
25%
Reducing Balance Method

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.

 
2.13

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.

 
2.14

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.

 
2.15

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 6

 
ACUITY TRADING LIMITED
 

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

2.Accounting policies (continued)

 
2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.17

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2023 - 6).


4.


Intangible assets




Development expenditure
Website
Total

£
£
£



Cost


Additions
421,442
25,200
446,642



At 31 January 2024

421,442
25,200
446,642



Amortisation


Charge for the year on owned assets
84,288
2,926
87,214



At 31 January 2024

84,288
2,926
87,214



Net book value



At 31 January 2024
337,154
22,274
359,428



At 31 January 2023
-
-
-


The individual intangible assets which are material to the financial statements are development expenditure which represents capitalised costs incurred on developing the company's products. 


Page 7

 
ACUITY TRADING LIMITED
 

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

5.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 February 2023
46,870


Additions
3,526



At 31 January 2024

50,396



Depreciation


At 1 February 2023
26,246


Charge for the year on owned assets
5,805



At 31 January 2024

32,051



Net book value



At 31 January 2024
18,345



At 31 January 2023
20,624


6.


Debtors

2024
2023
£
£



Trade debtors
197,559
168,749

Amounts owed by group undertakings
868,360
527,831

Other debtors
18,248
18,986

Prepayments and accrued income
46,861
43,177

1,131,028
758,743



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
159,651
423,229

Less: bank overdrafts
(8,778)
(2,994)

150,873
420,235


Page 8

 
ACUITY TRADING LIMITED
 

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

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
8,778
2,994

Other loans
201,532
214,379

Trade creditors
140,859
267,144

Amounts owed to group undertakings
177,210
-

Other taxation and social security
7,308
17,358

Other creditors
5,477
4,386

Accruals and deferred income
506,444
431,715

1,047,608
937,976



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
74,576
112,399

74,576
112,399


Page 9

 
ACUITY TRADING LIMITED
 

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

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Other loans
201,532
214,379


201,532
214,379

Amounts falling due 1-2 years

Bank loans
-
45,739


-
45,739

Amounts falling due 2-5 years

Bank loans
74,576
66,660


74,576
66,660


276,108
326,778



11.


Deferred taxation




2024


£






At beginning of year
(3,932)



At end of year
(3,932)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(3,932)
(3,932)

(3,932)
(3,932)

Page 10

 
ACUITY TRADING LIMITED
 

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

12.


Pension commitments

The company makes payments under the auto-enrolment pension regulations to the personal pensions of certain employees. At the balance sheet date an amount of £1017 (2022 - £526) was payable. 


13.


Controlling party

The company's parent company is Acuity Analytics Limited incorporated in England with registered office situated at 86-90 Paul Street, London, EC2A 4NE.
The directors regard Andrew Lane as being the ultimate controlling party.


Page 11