Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30falseMarket research and public opinion polling2023-07-01false1919truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09137831 2023-07-01 2024-06-30 09137831 2022-07-01 2023-06-30 09137831 2024-06-30 09137831 2023-06-30 09137831 c:Director1 2023-07-01 2024-06-30 09137831 d:ComputerEquipment 2023-07-01 2024-06-30 09137831 d:ComputerEquipment 2024-06-30 09137831 d:ComputerEquipment 2023-06-30 09137831 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 09137831 d:CurrentFinancialInstruments 2024-06-30 09137831 d:CurrentFinancialInstruments 2023-06-30 09137831 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 09137831 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 09137831 d:ShareCapital 2024-06-30 09137831 d:ShareCapital 2023-06-30 09137831 d:RetainedEarningsAccumulatedLosses 2024-06-30 09137831 d:RetainedEarningsAccumulatedLosses 2023-06-30 09137831 d:AcceleratedTaxDepreciationDeferredTax 2024-06-30 09137831 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 09137831 d:TaxLossesCarry-forwardsDeferredTax 2024-06-30 09137831 d:TaxLossesCarry-forwardsDeferredTax 2023-06-30 09137831 c:FRS102 2023-07-01 2024-06-30 09137831 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 09137831 c:FullAccounts 2023-07-01 2024-06-30 09137831 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 09137831 d:WithinOneYear 2024-06-30 09137831 d:WithinOneYear 2023-06-30 09137831 d:BetweenOneFiveYears 2024-06-30 09137831 d:BetweenOneFiveYears 2023-06-30 09137831 2 2023-07-01 2024-06-30 09137831 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 09137831










WATCH ME THINK (UK) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

 
WATCH ME THINK (UK) LIMITED
REGISTERED NUMBER:09137831

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
7,902
11,299

Current assets
  

Debtors
 5 
1,303,580
1,303,479

Cash at bank and in hand
  
804,606
675,121

  
2,108,186
1,978,600

Creditors: amounts falling due within one year
 6 
(353,545)
(476,462)

Net current assets
  
 
 
1,754,641
 
 
1,502,138

Total assets less current liabilities
  
1,762,543
1,513,437

Provisions for liabilities
  

Deferred tax
 7 
(1,385)
(5,164)

Net assets
  
1,761,158
1,508,273


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,761,058
1,508,173

  
1,761,158
1,508,273


Page 1

 
WATCH ME THINK (UK) LIMITED
REGISTERED NUMBER:09137831
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 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 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 4 November 2024.




A Vince
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
WATCH ME THINK (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Watch Me Think (UK) Limited is a private company limited by shares, incorporated in the United Kingdom (registered number: 09137831). Its registered office is The Old Stockyard, Farleigh Road, Cliddesden, Basingstoke, United Kingdom, RG25 2JS. The principal activity of the company throughout the year continued to be that of market research and public opinion.

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 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

 
WATCH ME THINK (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 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

Operating leases: the Company as lessor

Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.

Amounts paid and payable as an incentive to sign an operating lease are recognised as a reduction to income over the lease term on a straight-line basis, unless another systematic basis is representative of the time pattern over which the lessor's benefit from the leased asset is diminished.

 
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.

Page 4

 
WATCH ME THINK (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
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.

 
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.

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:

Computer equipment
-
33%

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.

Page 5

 
WATCH ME THINK (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

 
2.10

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 19 (2023: 19).


Page 6

 
WATCH ME THINK (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





Computer equipment

£



Cost


At 1 July 2023
28,831


Additions
4,046


Disposals
(2,921)



At 30 June 2024

29,956



Depreciation


At 1 July 2023
17,532


Charge for the year on owned assets
6,220


Disposals
(1,698)



At 30 June 2024

22,054



Net book value



At 30 June 2024
7,902



At 30 June 2023
11,299


5.


Debtors

2024
2023
£
£

Due within one year

Trade debtors
800,439
638,833

Amounts owed by group undertakings
425,537
611,948

Other debtors
37,006
13,356

Prepayments and accrued income
40,598
39,342

1,303,580
1,303,479


Page 7

 
WATCH ME THINK (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
87,827
68,037

Corporation tax
-
105,920

Other taxation and social security
75,582
60,211

Other creditors
99,974
80,411

Accruals and deferred income
90,162
161,883

353,545
476,462



7.


Deferred taxation




2024


£






At beginning of year
5,164


Charged to profit or loss
(3,779)



At end of year
1,385

The deferred tax asset is made up as follows:

2024
2023
£
£


Fixed asset timing differences
1,976
5,627

Short term timing differences
(591)
(463)

1,385
5,164


8.


Pension commitments

The Company operates a defined contribution scheme. The assets of the scheme are held seperately from those of the Company in an independently administered fund. The persion cost change represents contributions payable by the Company to the fund and amounted to £18,521 (2023: £18,476). Contributions totalling £10,563 (2023 - £9,624) were payable to the fund at the balance sheet date and are included in creditors.

Page 8

 
WATCH ME THINK (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

9.


Commitments under operating leases

At 30 June 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£



Due in 1 year
36,078
35,028

Due in 2 or more years
94,857
130,935

130,935
165,963


10.


Controlling party

The ultimate controlling party is Sirsans Holdings Pty Ltd, a company registered at 79 Broadway Street, Woolloongabba, QLD, 4102, Australia. 
Page 9