Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29No description of principal activity2023-03-01false46truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10586695 2023-03-01 2024-02-29 10586695 2024-02-29 10586695 2022-03-01 2023-02-28 10586695 2023-02-28 10586695 c:Director1 2023-03-01 2024-02-29 10586695 d:FurnitureFittings 2023-03-01 2024-02-29 10586695 d:FurnitureFittings 2024-02-29 10586695 d:FurnitureFittings 2023-02-28 10586695 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 10586695 d:OfficeEquipment 2023-03-01 2024-02-29 10586695 d:OfficeEquipment 2024-02-29 10586695 d:OfficeEquipment 2023-02-28 10586695 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 10586695 d:ComputerEquipment 2023-03-01 2024-02-29 10586695 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 10586695 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-02-29 10586695 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-02-28 10586695 d:CurrentFinancialInstruments 2024-02-29 10586695 d:CurrentFinancialInstruments 2023-02-28 10586695 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 10586695 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 10586695 d:ShareCapital 2024-02-29 10586695 d:ShareCapital 2023-02-28 10586695 d:RetainedEarningsAccumulatedLosses 2024-02-29 10586695 d:RetainedEarningsAccumulatedLosses 2023-02-28 10586695 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-02-29 10586695 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-02-28 10586695 d:FinancialLiabilitiesFairValueThroughProfitOrLoss d:UnlistedNon-exchangeTraded 2024-02-29 10586695 d:FinancialLiabilitiesFairValueThroughProfitOrLoss d:UnlistedNon-exchangeTraded 2023-02-28 10586695 c:FRS102 2023-03-01 2024-02-29 10586695 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 10586695 c:FullAccounts 2023-03-01 2024-02-29 10586695 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 10586695 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2023-03-01 2024-02-29 10586695 d:AcceleratedTaxDepreciationDeferredTax 2024-02-29 10586695 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 10586695 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-03-01 2024-02-29 10586695 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Registered number:  10586695














EASIWEB LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


 
EASIWEB LTD
REGISTERED NUMBER: 10586695

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
168,256
171,812

Tangible assets
 5 
821
541

  
169,077
172,353

Current assets
  

Debtors: amounts falling due within one year
 6 
560,207
364,747

Cash at bank and in hand
 7 
4,055
481

  
564,262
365,228

Creditors: amounts falling due within one year
 8 
(655,973)
(498,015)

Net current liabilities
  
 
 
(91,711)
 
 
(132,787)

Total assets less current liabilities
  
77,366
39,566

Provisions for liabilities
  

Deferred tax
 10 
(29,572)
(34,111)

  
 
 
(29,572)
 
 
(34,111)

Net assets
  
47,794
5,455


Capital and reserves
  

Called up share capital 
  
18
18

Profit and loss account
  
47,776
5,437

  
47,794
5,455


Page 1

 
EASIWEB LTD
REGISTERED NUMBER: 10586695
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 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 by: 




................................................
J Hughes
Director

Date: 30 October 2024

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

Page 2

 
EASIWEB LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

The Company is a private company limited by shares, which is incorporated in England and Wales (no.10586695). The address of the registered office is Langtons, 11th Floor The Plaza, Old Hall Street, Liverpool, England, L3 9QJ. The principal activity of the Company is provision of management services.

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

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.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 3

 
EASIWEB LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
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

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.

 
2.6

Borrowing costs

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

 
2.7

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

 
EASIWEB LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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:

Fixtures and fittings
-
25%
straight line
Computer equipment
-
25%
straight line

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.

 
2.10

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.

 
2.11

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.

 
2.12

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 5

 
EASIWEB LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.13

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.

 
2.14

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.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments 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 payables, bank loans and other loans are initially measured at their transaction price after transaction costs. 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.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables 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.

Page 6

 
EASIWEB LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.15

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 4 (2023 - 6).


4.


Intangible assets






Develop-ment expenditure

£



Cost


At 1 March 2023
229,310


Additions
21,528



At 29 February 2024

250,838



Amortisation


At 1 March 2023
57,498


Charge for the year on owned assets
25,084



At 29 February 2024

82,582



Net book value



At 29 February 2024
168,256



At 28 February 2023
171,812



Page 7

 
EASIWEB LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Tangible fixed assets







Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 March 2023
1,190
1,083
2,273


Additions
-
550
550



At 29 February 2024

1,190
1,633
2,823



Depreciation


At 1 March 2023
1,190
541
1,731


Charge for the year on owned assets
-
271
271



At 29 February 2024

1,190
812
2,002



Net book value



At 29 February 2024
-
821
821



At 28 February 2023
-
541
541


6.


Debtors

29 February
28 February
2024
2023
£
£


Other debtors
557,637
362,074

Prepayments and accrued income
2,570
2,673

560,207
364,747


Page 8

 
EASIWEB LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

7.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
4,055
481

Less: bank overdrafts
(705)
(994)

3,350
(513)



8.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Bank overdrafts
705
994

Trade creditors
4,691
3,854

Corporation tax
64,084
22,440

Other taxation and social security
9,453
5,925

Other creditors
572,307
459,276

Accruals and deferred income
4,733
5,526

655,973
498,015


Page 9

 
EASIWEB LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

9.


Financial instruments

29 February
28 February
2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
4,055
481

Financial assets measured at amortised cost
564,019
362,074

568,074
362,555


Financial liabilities


Financial liabilities measured at amortised cost
481,819
469,650


Financial assets measured at fair value through profit or loss comprise cash at bank and at hand.


Financial assets that are debt instruments measured at amortised cost comprise other debtors.


Financial liabilities measured at amortised cost comprise bank borrowings, trade creditors, other creditors and accruals.


10.


Deferred taxation






2024


£






At beginning of year
(34,111)


Charged to profit or loss
4,539



At end of year
(29,572)

The provision for deferred taxation is made up as follows:

29 February
28 February
2024
2023
£
£


Accelerated capital allowances
(29,572)
(34,111)

(29,572)
(34,111)

Page 10

 
EASIWEB LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

11.


Related party transactions

The following amounts within other debtors and other creditors were due to / (from) the Company at the balance sheet date:


29 February
28 February
2024
2023
£
£

Oxford Vaughan Limited
504,341
317,642
Trade Gear Limited
34,047
34,800
Canbe Ltd
19,249
9,631
National Tool Hire Limited
(572,092)
(459,061)
Hartom Holdings Limited
(216)
(216)

Oxford Vaughan Limited, Trade Gear Limited, CanBe Limited and Hartom Holdings Limited are connected companies.
National Tool Hire Limited is a subsidiary company.
The loans are repayable on demand and no interest has been charged.


12.


Controlling party

The Company is controlled by J Hughes, a director and ultimate shareholder.

 
Page 11