Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-312023-02-01falsefalseBusiness and domestic software development2424falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06057546 2023-02-01 2024-01-31 06057546 2022-02-01 2023-01-31 06057546 2024-01-31 06057546 2023-01-31 06057546 c:Director2 2023-02-01 2024-01-31 06057546 d:PlantMachinery 2023-02-01 2024-01-31 06057546 d:PlantMachinery 2024-01-31 06057546 d:PlantMachinery 2023-01-31 06057546 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 06057546 d:MotorVehicles 2023-02-01 2024-01-31 06057546 d:MotorVehicles 2024-01-31 06057546 d:MotorVehicles 2023-01-31 06057546 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 06057546 d:FurnitureFittings 2023-02-01 2024-01-31 06057546 d:FurnitureFittings 2024-01-31 06057546 d:FurnitureFittings 2023-01-31 06057546 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 06057546 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 06057546 d:CurrentFinancialInstruments 2024-01-31 06057546 d:CurrentFinancialInstruments 2023-01-31 06057546 d:Non-currentFinancialInstruments 2024-01-31 06057546 d:Non-currentFinancialInstruments 2023-01-31 06057546 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 06057546 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 06057546 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 06057546 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 06057546 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-01-31 06057546 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-01-31 06057546 d:UKTax 2023-02-01 2024-01-31 06057546 d:UKTax 2022-02-01 2023-01-31 06057546 d:ShareCapital 2024-01-31 06057546 d:ShareCapital 2023-01-31 06057546 d:RetainedEarningsAccumulatedLosses 2024-01-31 06057546 d:RetainedEarningsAccumulatedLosses 2023-01-31 06057546 d:AcceleratedTaxDepreciationDeferredTax 2024-01-31 06057546 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 06057546 c:FRS102 2023-02-01 2024-01-31 06057546 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 06057546 c:FullAccounts 2023-02-01 2024-01-31 06057546 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 06057546 d:Subsidiary1 2023-02-01 2024-01-31 06057546 d:Subsidiary1 1 2023-02-01 2024-01-31 06057546 d:Subsidiary2 2023-02-01 2024-01-31 06057546 d:Subsidiary2 1 2023-02-01 2024-01-31 06057546 d:Subsidiary3 2023-02-01 2024-01-31 06057546 d:Subsidiary3 1 2023-02-01 2024-01-31 06057546 d:HirePurchaseContracts d:WithinOneYear 2024-01-31 06057546 d:HirePurchaseContracts d:WithinOneYear 2023-01-31 06057546 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-01-31 06057546 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-01-31 06057546 6 2023-02-01 2024-01-31 06057546 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure
Registered number: 06057546










RADWEB LTD




UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 JANUARY 2024

 
RADWEB LTD
REGISTERED NUMBER: 06057546

BALANCE SHEET
AS AT 31 JANUARY 2024

As restated
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
193,210
19,125

Investments
 6 
212,501
212,501

  
405,711
231,626

Current assets
  

Debtors: amounts falling due within one year
 7 
329,424
227,461

Cash at bank and in hand
 8 
530,512
386,620

  
859,936
614,081

Creditors: amounts falling due within one year
 9 
(524,223)
(371,051)

Net current assets
  
 
 
335,713
 
 
243,030

Total assets less current liabilities
  
741,424
474,656

Creditors: amounts falling due after more than one year
 10 
(250,346)
(202,041)

Provisions for liabilities
  

Deferred tax
  
(31,605)
(3,634)

  
 
 
(31,605)
 
 
(3,634)

Net assets
  
459,473
268,981


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
458,473
267,981

  
459,473
268,981


Page 1

 
RADWEB LTD
REGISTERED NUMBER: 06057546

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 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 profit and loss account 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 30 October 2024.

J L Taylor
Director

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
RADWEB LTD
 

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

1.


General information

Radweb Limited is a limited liability company incorporated in England and Wales.
The registered office and principal place of business is Building 1000, Lakeside North Harbour Western Road, Portsmouth, England, PO6 3EN. 

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

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 Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
RADWEB LTD
 

 
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:

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

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.

 
2.5

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 4

 
RADWEB LTD
 

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

2.Accounting policies (continued)

 
2.6

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:

Plant and machinery
-
25%
Motor vehicles
-
20%
Fixtures and fittings
-
25%

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.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

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.

Page 5

 
RADWEB LTD
 

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

2.Accounting policies (continued)

 
2.12

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.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

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

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.13

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 the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Employees
24
24

Page 6

 
RADWEB LTD
 

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

4.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
-
11,012

Adjustments in respect of previous periods
(103,718)
(121,516)


(103,718)
(110,504)


Total current tax
(103,718)
(110,504)

Deferred tax


Origination and reversal of timing differences
27,971
3,634

Total deferred tax
27,971
3,634


Tax on profit
(75,747)
(106,870)

Factors affecting tax charge for the year

There were no factors that affected the tax charge for the year which has been calculated on the profits on ordinary activities before tax at the standard rate of corporation tax in the UK of  25% (2023 - 25%).



Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 7

 
RADWEB LTD
 

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

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 February 2023
102,575
-
2,807
105,382


Additions
26,361
180,473
288
207,122



At 31 January 2024

128,936
180,473
3,095
312,504



Depreciation


At 1 February 2023
84,244
-
2,013
86,257


Charge for the year on owned assets
10,218
22,572
247
33,037



At 31 January 2024

94,462
22,572
2,260
119,294



Net book value



At 31 January 2024
34,474
157,901
835
193,210



At 31 January 2023
18,331
-
794
19,125

Page 8

 
RADWEB LTD
 

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

6.


Fixed asset investments





Investments in subsidiary companies
Unlisted investments
Total

£
£
£



Cost or valuation


At 1 February 2023
7,598
204,903
212,501



At 31 January 2024
7,598
204,903
212,501





Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Registered office

Class of shares

Holding

Property Inspect Inc
2315 Virginia Drive Orlando, FL.32103
Ordinary
100%
Property Inspect SA Proprietary Limited
P30 Thesen Islands, Knysna, Western Cape, 6571
Ordinary
51%
Property Inspect Sp Z.O.O
Ul. Plac Bankowy 2
Warsaw, Mazowieckie, 00-095
Ordinary
50%


7.


Debtors

2024
2023
£
£


Trade debtors
10,400
15,998

Other debtors
311,767
210,198

Prepayments and accrued income
7,257
1,265

329,424
227,461



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
530,512
386,620

530,512
386,620


Page 9

 
RADWEB LTD
 

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

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
95,351
90,255

Trade creditors
34,663
7,583

Corporation tax
-
11,012

Other taxation and social security
154,450
128,080

Obligations under finance lease and hire purchase contracts
22,603
-

Other creditors
186,292
134,121

Accruals and deferred income
30,864
-

524,223
371,051



10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
106,690
202,041

Net obligations under finance leases and hire purchase contracts
143,656
-

250,346
202,041


The following liabilities were secured:

2024
2023
£
£



Hire purchase
166,257
-

166,257
-

Details of security provided:

The hire purchase liability is secured against the assets they relate to.

Page 10

 
RADWEB LTD
 

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

11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
95,351
90,255


95,351
90,255

Amounts falling due 1-2 years

Bank loans
106,690
202,041


106,690
202,041



202,041
292,296



12.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
22,603
-

Between 1-5 years
143,656
-

166,259
-

Page 11

 
RADWEB LTD
 

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

13.


Deferred taxation




2024


£






At beginning of year
(3,634)


Charged to profit or loss
(27,971)



At end of year
(31,605)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(31,605)
(3,634)

(31,605)
(3,634)


14.


Prior year adjustment

The prior year figures have been restated to correct an error in the Investments in subsidiary companies balance and the Share capital balance. Investments in subsidiary companies at 31 January 2023 has increased by £7,502 and the other debtors has been increased by the same amount. Share capital at 31 January 2023 has increased by £980 and the other debtors has been increased by the same amount. There is no impact on profit for the year or retained earnings.


15.


Related party transactions

A S Rad and J L Taylor are directors of Radweb Ventures Limited. At the balance sheet date Radweb Ventures Limited owed the Company £100,000 (2023: £Nil).
The Company has taken advantage of the disclosure exemption available under FRS 102 Section 33.1A not to disclose transactions entered into between 100% owned group companies.


16.


Controlling party

The Company is under the control of the two equal induvidual shareholders.



Page 12