Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31truetruetruetruetrue2023-01-01falseThe provision of software development services2017truetruefalse SC389674 2023-01-01 2023-12-31 SC389674 2022-01-01 2022-12-31 SC389674 2023-12-31 SC389674 2022-12-31 SC389674 1 2023-01-01 2023-12-31 SC389674 d:Director4 2023-01-01 2023-12-31 SC389674 c:FurnitureFittings 2023-01-01 2023-12-31 SC389674 c:FurnitureFittings 2023-12-31 SC389674 c:FurnitureFittings 2022-12-31 SC389674 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC389674 c:OfficeEquipment 2023-01-01 2023-12-31 SC389674 c:OfficeEquipment 2023-12-31 SC389674 c:OfficeEquipment 2022-12-31 SC389674 c:OfficeEquipment c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC389674 c:ComputerEquipment 2023-01-01 2023-12-31 SC389674 c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC389674 c:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 SC389674 c:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 SC389674 c:CurrentFinancialInstruments 2023-12-31 SC389674 c:CurrentFinancialInstruments 2022-12-31 SC389674 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 SC389674 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 SC389674 c:ShareCapital 2023-12-31 SC389674 c:ShareCapital 2022-12-31 SC389674 c:RetainedEarningsAccumulatedLosses 2023-12-31 SC389674 c:RetainedEarningsAccumulatedLosses 2022-12-31 SC389674 d:FRS102 2023-01-01 2023-12-31 SC389674 d:Audited 2023-01-01 2023-12-31 SC389674 d:FullAccounts 2023-01-01 2023-12-31 SC389674 d:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC389674 d:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 SC389674 c:DevelopmentCostsCapitalisedDevelopmentExpenditure c:OwnedIntangibleAssets 2023-01-01 2023-12-31 SC389674 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Registered Number:SC389674













STREAMBA LTD






INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2023

 
STREAMBA LTD
 

CONTENTS



Page
Directors' responsibilities statement
1
Balance sheet
2
Notes to the financial statements
3 - 10


 
STREAMBA LTD
 

DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023

The directors are responsible for preparing the Directors' report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

 In preparing these financial statements, the directors are required to:

select suitable accounting policies for the company's financial statements and then apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 1

 
STREAMBA LTD

REGISTERED NUMBER:SC389674

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
60,453

Tangible assets
 5 
7,613
12,956

  
7,613
73,409

Current assets
  

Debtors: amounts falling due within one year
 6 
582,837
331,662

Cash at bank and in hand
 7 
439,298
390,449

  
1,022,135
722,111

Creditors: amounts falling due within one year
 8 
(1,566,998)
(1,501,944)

Net current liabilities
  
 
 
(544,863)
 
 
(779,833)

Total assets less current liabilities
  
(537,250)
(706,424)

  

Net liabilities
  
(537,250)
(706,424)


Capital and reserves
  

Called up share capital 
  
10
10

Profit and loss account
  
(537,260)
(706,434)

  
(537,250)
(706,424)


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: 




L C Johnson
Director

Date: 28 November 2024

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

Page 2

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

1.


General information

Streamba Limited is a private limited company incorporated in Scotland. The registered office is 28 Albyn Place, Aberdeen, AB10 1YL.
The principal activity of the company is the provision of software development 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

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Peterson Offshore Group B.V. as at 31 December 2023 and these financial statements may be obtained from Paleiskade 41, Den Helder, 1781 AN, Netherlands.

 
2.3

Going concern

During the year the company reported a profit of £169,174 and at 31 December 2023 has net liabilities of £537,250. Included within these liabilities are loans due to group undertakings of £1,253,000 (note 9) which at the balance sheet date were repayable on demand. On 19 April 2024 the company's controlling share capital was acquired by certain members of the company's management. As part of this acquisition, new terms were agreed with the loan provider, and the loans is now repayable in equal annual repayments commencing 1 January 2026.
During 2023, the company saw an improvement in trading levels, following continued growth in its existing technology offering from new and repeat customers and continued investment in the development of new product offerings to the market. Growth forecasts for 2024 continue to remain positive and the company continues to hold sufficient cash reserves to fund its continued operational activities for a period of at least 12 months from the date of signing these financial statements.
The directors, therefore, have made an informed judgement, at the time of approving the financial statements, that the company has adequate resources and support to continue in operational existence for the forseeable future.  As a result, the directors have continued to adopt the going concern basis of accounting in preparing the annual financial statements. 

Page 3

 
STREAMBA LTD
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Foreign currency translation

The company's functional and presentational currency is GBP.

 
2.5

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.

 
2.6

Borrowing costs

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

 
2.7

Pensions

Defined contribution pension plan
The company contributes to 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 the Statement of comprehensive income 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

 
2.8

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 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.

Page 4

 
STREAMBA LTD
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

Development costs

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 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 incurred in their useful economic life of 3 years.

 
2.10

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 & fittings
-
25% straight line
Computer equipment
-
33% 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.

 
2.11

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.

 
2.12

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.

 
2.13

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

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

3.


Employees

The average monthly number of employees, including directors, during the year was 20 (2022 - 19).


4.


Intangible assets




Development expenditure

£



Cost


At 1 January 2023
310,902



At 31 December 2023

310,902



Amortisation


At 1 January 2023
250,449


Charge for the year on owned assets
60,453



At 31 December 2023

310,902



Net book value



At 31 December 2023
-



At 31 December 2022
60,453



Page 6

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

5.


Tangible fixed assets





Fixtures & fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
9,091
51,359
60,450


Additions
-
2,604
2,604


Disposals
(4,381)
(13,538)
(17,919)



At 31 December 2023

4,710
40,425
45,135



Depreciation


At 1 January 2023
9,091
38,403
47,494


Charge for the year on owned assets
-
7,947
7,947


Disposals
(4,381)
(13,538)
(17,919)



At 31 December 2023

4,710
32,812
37,522



Net book value



At 31 December 2023
-
7,613
7,613



At 31 December 2022
-
12,956
12,956

Page 7

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

6.


Debtors

2023
2022
£
£


Trade debtors
316,873
144,127

Amounts owed by group undertakings
82,225
142,433

Other debtors
-
42,102

Prepayments and accrued income
141,489
3,000

Tax recoverable
42,250
-

582,837
331,662



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
439,298
390,449

439,298
390,449



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other loans
1,253,000
1,253,000

Trade creditors
43,023
1,499

Amounts owed to group undertakings
55,841
44

Other taxation and social security
61,016
62,908

Other creditors
35,651
26,547

Accruals and deferred income
118,467
157,946

1,566,998
1,501,944


Page 8

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

9.


Loans


2023
2022
£
£

Amounts falling due within one year

Other loans
1,253,000
1,253,000

1,253,000
1,253,000




1,253,000
1,253,000


At the balance sheet date, the loan was repayable in full on demand, with interest payable at rates ranging from 3.062% to 3.590% per annum. On 19 April 2024 new terms were agreed with the loan provider, and the loan is now repayable in 4 equal annual repayments commencing 1 January 2026.  The loan attracts interest at 3.3577% per annum.


10.


Pensions

The company contributes to a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administrated fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £51,203 (2022 - £41,895). Contributions totalling £13,372 (2022 - £10,489) were payable to the fund at the Balance Sheet date and are included in creditors.


11.


Related party transactions

During the year the company made sales to companies under common control totalling £387,107
(2022 - £398,028) and purchases of £nil (2022 - £nil). As at 31 December 2023, the amounts due from companies under common control totalled  £82,225 (2022 - £142,433), amounts due to companies under common control totalled £55,841 (2022 - £44) and loans payable of £1,253,000 (2022 - £1,253,000).


12.


Post balance sheet events

On 19 April 2024, certain members of the management of the company acquired a controlling interest in the share capital of the company. At the same date new terms were agreed with the loan provider, and the loans is now repayable in 4 equal annual repayments commencing 1 January 2026.
The company's 6 Ordinary A and 4 Ordinary B shares of £1 each were sub-divided into 60,000 Ordinary A and 40,000 B shares of £0.0001 each and converted into 100,000 Ordinary shares of £0.0001 each.


13.


Controlling party

At the year end, the immediate parent was Peterson Energies BV, a company registered in the Netherlands, by virtue of its 60% ownership of the company's share capital. The ultimate controlling company was Peterson Control Union Group BV, a company registered in the Netherlands.
Since the year end, certain members of management of the company acquired a controlling share of the company's share capital. Following this the company is controlled by the directors.

Page 9

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

14.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 28 November 2024 by Stuart Rose (Senior statutory auditor) on behalf of Anderson Anderson & Brown Audit LLP.


Page 10