Caseware UK (AP4) 2023.0.135 2023.0.135 No description of principal activityThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-04-01false66truetruefalse 04959884 2023-04-01 2024-03-31 04959884 2022-04-01 2023-03-31 04959884 2024-03-31 04959884 2023-03-31 04959884 c:Director1 2023-04-01 2024-03-31 04959884 c:Director3 2023-04-01 2024-03-31 04959884 d:OfficeEquipment 2023-04-01 2024-03-31 04959884 d:OfficeEquipment 2024-03-31 04959884 d:OfficeEquipment 2023-03-31 04959884 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04959884 d:CurrentFinancialInstruments 2024-03-31 04959884 d:CurrentFinancialInstruments 2023-03-31 04959884 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 04959884 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 04959884 d:ShareCapital 2024-03-31 04959884 d:ShareCapital 2023-03-31 04959884 d:CapitalRedemptionReserve 2024-03-31 04959884 d:CapitalRedemptionReserve 2023-03-31 04959884 d:RetainedEarningsAccumulatedLosses 2024-03-31 04959884 d:RetainedEarningsAccumulatedLosses 2023-03-31 04959884 c:FRS102 2023-04-01 2024-03-31 04959884 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 04959884 c:FullAccounts 2023-04-01 2024-03-31 04959884 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04959884 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 04959884










Ixscient Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 March 2024

 
Ixscient Limited
Registered number: 04959884

Balance sheet
As at 31 March 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,404
673

  
1,404
673

Current assets
  

Debtors: amounts falling due within one year
 5 
341,675
288,483

Cash at bank and in hand
 6 
126,080
95,636

  
467,755
384,119

Creditors: amounts falling due within one year
 7 
(300,686)
(241,369)

Net current assets
  
 
 
167,069
 
 
142,750

Total assets less current liabilities
  
168,473
143,423

  

Net assets
  
168,473
143,423


Capital and reserves
  

Called up share capital 
  
3
3

Capital redemption reserve
  
1
1

Profit and loss account
  
168,469
143,419

  
168,473
143,423


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: 




................................................
Dr N Walker
................................................
Mr M A Jackson
Director
Director
Date: 29 November 2024
Date:29 November 2024

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
Ixscient Limited
 

 
Notes to the financial statements
For the year ended 31 March 2024

1.


General information

Ixscient Limited is a private company, limited by shares and incorporated in England and Wales, registration number 04959884. The registered office address is 76 Popes Grove, Twickenham, Middlesex, England, TW1 4JX.
The financial statements are presented in sterling and are rounded to the nearest £1.

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

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.

 
2.3

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 2

 
Ixscient Limited
 

 
Notes to the financial statements
For the year ended 31 March 2024

2.Accounting policies (continued)


2.3
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 the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
50%
per annum

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.

 
2.4

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.

 
2.5

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.

 
2.6

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.

 
2.7

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 3

 
Ixscient Limited
 

 
Notes to the financial statements
For the year ended 31 March 2024

2.Accounting policies (continued)

 
2.8

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'.

 
2.9

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.


3.


Employees



The average monthly number of employees, including directors, during the year was 6 (2023 - 6).

Page 4

 
Ixscient Limited
 

 
Notes to the financial statements
For the year ended 31 March 2024

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 April 2023
3,711


Additions
1,541



At 31 March 2024

5,252



Depreciation


At 1 April 2023
3,038


Charge for the year on owned assets
810



At 31 March 2024

3,848



Net book value



At 31 March 2024
1,404



At 31 March 2023
673


5.


Debtors

2024
2023
£
£


Trade debtors
340,412
287,172

Other debtors
157
110

Prepayments and accrued income
1,106
1,201

341,675
288,483



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
126,080
95,636

126,080
95,636


Page 5

 
Ixscient Limited
 

 
Notes to the financial statements
For the year ended 31 March 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
41
217

Other creditors
4,813
3,041

Accruals and deferred income
295,832
238,111

300,686
241,369



8.


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 £9,007 (2023 - £8,698). Contributions totalling £1,069 (2023 - £1,169) were payable to the fund at the balance sheet date and are included in other creditors.

Page 6