Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-292The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-03-01false2falsetruefalse 13176149 2023-03-01 2024-02-29 13176149 2022-03-01 2023-02-28 13176149 2024-02-29 13176149 2023-02-28 13176149 c:Director1 2023-03-01 2024-02-29 13176149 d:OfficeEquipment 2023-03-01 2024-02-29 13176149 d:OfficeEquipment 2024-02-29 13176149 d:OfficeEquipment 2023-02-28 13176149 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 13176149 d:PatentsTrademarksLicencesConcessionsSimilar 2024-02-29 13176149 d:PatentsTrademarksLicencesConcessionsSimilar 2023-02-28 13176149 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-01 2024-02-29 13176149 d:CurrentFinancialInstruments 2024-02-29 13176149 d:CurrentFinancialInstruments 2023-02-28 13176149 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 13176149 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 13176149 d:ShareCapital 2024-02-29 13176149 d:ShareCapital 2023-02-28 13176149 d:SharePremium 2024-02-29 13176149 d:SharePremium 2023-02-28 13176149 d:RetainedEarningsAccumulatedLosses 2024-02-29 13176149 d:RetainedEarningsAccumulatedLosses 2023-02-28 13176149 c:OrdinaryShareClass1 2023-03-01 2024-02-29 13176149 c:OrdinaryShareClass1 2024-02-29 13176149 c:OrdinaryShareClass1 2023-02-28 13176149 c:FRS102 2023-03-01 2024-02-29 13176149 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 13176149 c:FullAccounts 2023-03-01 2024-02-29 13176149 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13176149 d:PatentsTrademarksLicencesConcessionsSimilar d:ExternallyAcquiredIntangibleAssets 2023-03-01 2024-02-29 13176149 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2023-03-01 2024-02-29 13176149 e:PoundSterling 2023-03-01 2024-02-29 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 13176149









NEW COMMA LTD

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
NEW COMMA LTD
REGISTERED NUMBER: 13176149

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023 (restated)
Note
£
£

Intangible assets
 4 
66,689
10,248

Tangible assets
 5 
9,652
12,870

  
76,341
23,118

Current assets
  

Debtors: amounts falling due within one year
 6 
813
631

Cash at bank
  
32,637
6,141

Current liabilities
  
33,450
6,772

Creditors: amounts falling due within one year
 7 
(24,668)
(105,941)

Net assets/(liabilities)
  
85,123
(76,051)


Capital and reserves
  

Called up share capital 
 8 
5
4

Share premium account
  
264,100
-

Profit and loss account
  
(178,982)
(76,055)

  
85,123
(76,051)


Page 1

 
NEW COMMA LTD
REGISTERED NUMBER: 13176149

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 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 by: 






Mr N K Atta-Mensah
Director

Date: 26 November 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
NEW COMMA LTD
 

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

1.


General information

New Comma Ltd is a private Company limited by shares, incorporated in England and Wales within the United Kingdom. The address of the registered office is 128 City Road, London, EC1V 2NX. This Company is not part of a group.

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 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

Going concern

The Company is only able to trade with the continuing support of the directors. The directors have indicated that this support will not be withdrawn. On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result from the withdrawal of this support.

 
2.3

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

 
NEW COMMA LTD
 

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

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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.

 
2.6

Taxation

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 corporation 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

 
NEW COMMA LTD
 

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

2.Accounting policies (continued)

 
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.

 The estimated useful lives range as follows:

Web development costs
-
10
years

Page 5

 
NEW COMMA LTD
 

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

2.Accounting policies (continued)

 
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:

Office equipment
-
25%
reducing balance

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

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 6

 
NEW COMMA LTD
 

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

2.Accounting policies (continued)

 
2.11

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.

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

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.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 7

 
NEW COMMA LTD
 

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

4.


Intangible assets






Website development (restated 2023)

£



Cost


At 1 March 2023
11,387


Additions
63,978



At 29 February 2024

75,365



Amortisation


At 1 March 2023
1,139


Charge for the year on owned assets
7,537



At 29 February 2024

8,676



Net book value



At 29 February 2024
66,689



At 28 February 2023
10,248



Page 8

 
NEW COMMA LTD
 

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

5.


Tangible fixed assets







Office equipment

£



Cost 


At 1 March 2023
17,160



At 29 February 2024

17,160



Depreciation


At 1 March 2023
4,290


Charge for the year on owned assets
3,218



At 29 February 2024

7,508



Net book value



At 29 February 2024
9,652



At 28 February 2023
12,870


6.


Debtors

29 February
28 February
2024
2023
£
£


Other debtors
692
-

Prepayments
121
631

813
631



7.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Trade creditors
1,440
-

Other creditors
22,228
103,191

Accruals
1,000
2,750

24,668
105,941


Page 9

 
NEW COMMA LTD
 

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

8.


Share capital

29 February
28 February
2024
2023
£
£
Allotted, called up and fully paid



4,820,332 (2023 - 3,559,381) Ordinary shares of £0.000001 each
4.820332
3.559381


During the year 1,260,951 (2023 - 1,027,733) Ordinary shares were issued and paid at par for cash consideration.


9.


Prior year adjustment

During the year an adjustment was made to capitalise web development costs in the 2023 year end. This has increased intangible fixed assets and retained earnings by £10,248.


10.


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. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £175 (2023 - £Nil) . Contributions totalling £467 (2023 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.


11.


Related party transactions

During the year the Company operated loans with the directors of the Company. The amount payable to the directors of the Company at the year end was £18,405 (2023 - £83,883). These loans are interest free and repayable on demand.


Page 10