Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31No description of principal activity33true2023-01-01false29trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 9877899 2023-01-01 2023-12-31 9877899 2022-01-01 2022-12-31 9877899 2023-12-31 9877899 2022-12-31 9877899 c:Director1 2023-01-01 2023-12-31 9877899 c:Director2 2023-01-01 2023-12-31 9877899 c:RegisteredOffice 2023-01-01 2023-12-31 9877899 d:MotorVehicles 2023-01-01 2023-12-31 9877899 d:MotorVehicles 2023-12-31 9877899 d:MotorVehicles 2022-12-31 9877899 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 9877899 d:FurnitureFittings 2023-01-01 2023-12-31 9877899 d:FurnitureFittings 2023-12-31 9877899 d:FurnitureFittings 2022-12-31 9877899 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 9877899 d:OfficeEquipment 2023-01-01 2023-12-31 9877899 d:OfficeEquipment 2023-12-31 9877899 d:OfficeEquipment 2022-12-31 9877899 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 9877899 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 9877899 d:CurrentFinancialInstruments 2023-12-31 9877899 d:CurrentFinancialInstruments 2022-12-31 9877899 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 9877899 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 9877899 d:ShareCapital 2023-12-31 9877899 d:ShareCapital 2022-12-31 9877899 d:RetainedEarningsAccumulatedLosses 2023-12-31 9877899 d:RetainedEarningsAccumulatedLosses 2022-12-31 9877899 c:OrdinaryShareClass1 2023-01-01 2023-12-31 9877899 c:OrdinaryShareClass1 2022-12-31 9877899 c:OrdinaryShareClass2 2023-01-01 2023-12-31 9877899 c:OrdinaryShareClass2 2023-12-31 9877899 c:OrdinaryShareClass3 2023-01-01 2023-12-31 9877899 c:OrdinaryShareClass3 2023-12-31 9877899 c:OrdinaryShareClass3 2022-12-31 9877899 c:FRS102 2023-01-01 2023-12-31 9877899 c:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 9877899 c:FullAccounts 2023-01-01 2023-12-31 9877899 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 9877899 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-01-01 2023-12-31 9877899 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-12-31 9877899 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-12-31 9877899 2 2023-01-01 2023-12-31 9877899 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 9877899









SO CODE LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
SO CODE LTD
 
 
COMPANY INFORMATION


Directors
R R Mould 
P Wolodkowicz 




Registered number
9877899



Registered office
Room 17 Office 320
Cambridge Science Park

Milton Road

Cambridge

CB4 0WG




Accountants
MA Partners LLP
Chartered Accountants

7 The Close

Norwich

Norfolk

NR1 4DJ





 
SO CODE LTD
 

CONTENTS



Page
Accountants' Report
 
 
1
Balance Sheet
 
 
2 - 3
Notes to the Financial Statements
 
 
4 - 8


 
SO CODE LTD
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SO CODE LTD
FOR THE YEAR ENDED 31 DECEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of So Code Ltd for the year ended 31 December 2023 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the Board of Directors of So Code Ltd, as a body, in accordance with the terms of our engagement letter dated 23 February 2021Our work has been undertaken solely to prepare for your approval the financial statements of So Code Ltd and state those matters that we have agreed to state to the Board of Directors of So Code Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than So Code Ltd and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that So Code Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of So Code Ltd. You consider that So Code Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of So Code Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  





MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ

5 November 2024
Page 1

 
SO CODE LTD
REGISTERED NUMBER: 9877899

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
79,443
103,803

  
79,443
103,803

Current assets
  

Debtors: amounts falling due within one year
 5 
2,381,314
2,184,441

Cash at bank and in hand
  
3,495,449
2,465,216

  
5,876,763
4,649,657

Creditors: amounts falling due within one year
 6 
(372,082)
(471,386)

Net current assets
  
 
 
5,504,681
 
 
4,178,271

Total assets less current liabilities
  
5,584,124
4,282,074

Provisions for liabilities
  

Deferred tax
  
(19,582)
(25,951)

Net assets
  
5,564,542
4,256,123


Capital and reserves
  

Called up share capital 
 7 
37
2

Profit and loss account
  
5,564,505
4,256,121

  
5,564,542
4,256,123


Page 2

 
SO CODE LTD
REGISTERED NUMBER: 9877899
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

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 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 5 November 2024.






R R Mould
Director

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
SO CODE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The Company is a United Kingdom company limited by shares. It is both incorporated and domiciled in England and Wales. The address of the registered office is Room 17 Office 320, Cambridge Science Park, Milton Road, Cambridge, CB4 0WG.
The Company's principal activity is that of recruitment consultants.

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.

 
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.

Page 4

 
SO CODE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

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

 
2.6

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.

 
2.7

Current and deferred taxation

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

 
2.8

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.

Page 5

 
SO CODE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using both the straight-line method and reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Office equipment
-
3 years 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.

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

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 33 (2022 - 29).

Page 6

 
SO CODE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2023
107,598
12,857
22,943
143,398


Additions
-
1,928
5,064
6,992



At 31 December 2023

107,598
14,785
28,007
150,390



Depreciation


At 1 January 2023
26,900
2,969
9,727
39,596


Charge for the year on owned assets
20,175
2,954
8,222
31,351



At 31 December 2023

47,075
5,923
17,949
70,947



Net book value



At 31 December 2023
60,523
8,862
10,058
79,443



At 31 December 2022
80,699
9,888
13,216
103,803


5.


Debtors

2023
2022
£
£


Trade debtors
1,186,431
1,605,286

Amounts owed by joint ventures and associated undertakings
669,619
-

Other debtors
1,835
87,340

Prepayments and accrued income
523,429
491,815

2,381,314
2,184,441


Page 7

 
SO CODE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
-
25,994

Corporation tax
221,388
369,380

Other taxation and social security
96,332
54,214

Other creditors
45,497
18,029

Accruals and deferred income
8,865
3,769

372,082
471,386



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



0(2022 - 1) Ordinary shares of £1.00 each
-
1
19 A Ordinary shares of £1.00 each
19
-
18 (2022 - 1) B Ordinary shares of £1.00 each
18
1

37

2


During the year, the Ordinary share was redesignated as an A Ordinary share.  18 A Ordinary shares were issued at par and 17 B Ordinary shares were issued at par.


8.


Pension commitments

Contributions totalling £24,634 (2022 - £18,029) were payable to the fund at the balance sheet date and are included in creditors.


9.Commitments, guarentees and contingencies

The Company had total financial commitments, guarantees and contingencies which are not included in the balance sheet amounting to £29,558.


10.


Transactions with directors

As at 1 January 2023, the directors owed the Company £295.  During the year the company made net expenses of £1,540 on behalf of the directors.  As at 31 December 2023, the directors owed the company £1,835.  The loan is included within other debtors in note 5 to the financial statements.

 
Page 8