Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseNo description of principal activity5The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.3falsetruefalse 06431016 2023-04-01 2024-03-31 06431016 2022-04-01 2023-03-31 06431016 2024-03-31 06431016 2023-03-31 06431016 c:Director1 2023-04-01 2024-03-31 06431016 d:PlantMachinery 2023-04-01 2024-03-31 06431016 d:PlantMachinery 2024-03-31 06431016 d:PlantMachinery 2023-03-31 06431016 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06431016 d:FurnitureFittings 2023-04-01 2024-03-31 06431016 d:FurnitureFittings 2024-03-31 06431016 d:FurnitureFittings 2023-03-31 06431016 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06431016 d:ComputerEquipment 2023-04-01 2024-03-31 06431016 d:ComputerEquipment 2024-03-31 06431016 d:ComputerEquipment 2023-03-31 06431016 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06431016 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06431016 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-03-31 06431016 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-31 06431016 d:CurrentFinancialInstruments 2024-03-31 06431016 d:CurrentFinancialInstruments 2023-03-31 06431016 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 06431016 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 06431016 d:ShareCapital 2024-03-31 06431016 d:ShareCapital 2023-03-31 06431016 d:RetainedEarningsAccumulatedLosses 2024-03-31 06431016 d:RetainedEarningsAccumulatedLosses 2023-03-31 06431016 c:FRS102 2023-04-01 2024-03-31 06431016 c:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 06431016 c:FullAccounts 2023-04-01 2024-03-31 06431016 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06431016 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-04-01 2024-03-31 06431016 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 06431016









SILVER TOUCH TECHNOLOGIES (UK) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
SILVER TOUCH TECHNOLOGIES (UK) LIMITED
 
 
  
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SILVER TOUCH TECHNOLOGIES (UK) LIMITED
FOR THE YEAR ENDED 31 MARCH 2024

You consider that the Company is exempt from an audit for the year ended 31 March 2024. You have acknowledged, on the Balance sheet, your responsibilities for ensuring that the Company keeps adequate accounting records which comply with section 386 of the Companies Act 2006, and for preparing the financial statements which give a true and fair view of the state of affairs of the Company and of its profit or loss for the financial year.

In accordance with your instructions, we have prepared the financial statements on pages 9 from the accounting records of the Company and on the basis of information and explanations you have given to us.

We have not carried out an audit or any other review, and consequently we do not express any opinion on these financial statements.

  



Paperchase Business Services Ltd
 
The Courtyard
14A Sydenham Road
Croydon
London
CR0 2EE
14 November 2024
Page 1

 
SILVER TOUCH TECHNOLOGIES (UK) LIMITED
REGISTERED NUMBER: 06431016

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
1,594
2,125

Tangible assets
 5 
118,769
156,695

  
120,363
158,820

Current assets
  

Debtors: amounts falling due within one year
 6 
114,847
128,140

Cash at bank and in hand
 7 
87,901
32,773

  
202,748
160,913

Creditors: amounts falling due within one year
 8 
(180,561)
(193,464)

Net current assets/(liabilities)
  
 
 
22,187
 
 
(32,551)

Total assets less current liabilities
  
142,550
126,269

  

Net assets
  
142,550
126,269


Capital and reserves
  

Called up share capital 
  
500
500

Profit and loss account
  
142,050
125,769

  
142,550
126,269


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 comprehensive income 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: 



Page 2

 
SILVER TOUCH TECHNOLOGIES (UK) LIMITED
REGISTERED NUMBER: 06431016
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024


................................................
Minesh Vinodchandra Doshi
Director

Date: 14 November 2024

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
SILVER TOUCH TECHNOLOGIES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Silver Touch Technologies (UK) Limited is a private company, limited by shares, registered in England
and Wales. The company's registered number and registered office address are as below:
Registered number: 06431016
Registered office : 4th Floor, Victoria House,Victoria Road,Chelmsford, Essex, United Kingdom, CM1 1JR

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

Page 4

 
SILVER TOUCH TECHNOLOGIES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 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.

Page 5

 
SILVER TOUCH TECHNOLOGIES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
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 comprehensive income in the same period as the related expenditure.

 
2.6

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.

 
2.7

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.

 
2.8

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
RBM
Fixtures and fittings
-
25%
RBM
Computer equipment
-
25%
RBM

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 6

 
SILVER TOUCH TECHNOLOGIES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
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.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2023 - 3).


4.


Intangible assets




Softwares

£



Cost


At 1 April 2023
4,574



At 31 March 2024

4,574



Amortisation


At 1 April 2023
2,449


Charge for the year on owned assets
531



At 31 March 2024

2,980



Net book value



At 31 March 2024
1,594



At 31 March 2023
2,125

Page 7

 
SILVER TOUCH TECHNOLOGIES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
 
           4.Intangible assets (continued)




5.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2023
21,675
1,526
228,709
251,910


Additions
-
-
1,488
1,488



At 31 March 2024

21,675
1,526
230,197
253,398



Depreciation


At 1 April 2023
16,669
1,334
77,211
95,214


Charge for the year on owned assets
1,252
48
38,115
39,415



At 31 March 2024

17,921
1,382
115,326
134,629



Net book value



At 31 March 2024
3,754
144
114,871
118,769



At 31 March 2023
5,006
192
151,498
156,696


6.


Debtors

2024
2023
£
£


Trade debtors
110,051
124,254

Other debtors
2,299
2,719

Prepayments and accrued income
2,497
1,167

114,847
128,140


Page 8

 
SILVER TOUCH TECHNOLOGIES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
87,901
32,773

87,901
32,773



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
69,604
93,199

Amounts owed to group undertakings
588
588

Other taxation and social security
98,859
12,969

Other creditors
11,510
11,208

Accruals and deferred income
-
75,500

180,561
193,464



9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held
separately from those of the Company in an independently administered fund..
Contributions totalling £879.92 (2023: £577.68) were payable to the fund at the reporting date and are
included in creditors.


10.


Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Stardard 102
"The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose related
party transactions within the group.


11.


Controlling party

The Company is a subsidiary of Silver Touch Technologies Ltd.
The registered office and principal place of business of Silver Touch Technologies Ltd is 2nd Floor,
Safforn, Near Panchvati circle, Ahmedabad, India.

 
Page 9