Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false2023-01-01No description of principal activity3128falsetruefalse 11640598 2023-01-01 2023-12-31 11640598 2022-01-01 2022-12-31 11640598 2023-12-31 11640598 2022-12-31 11640598 2022-01-01 11640598 1 2023-01-01 2023-12-31 11640598 1 2022-01-01 2022-12-31 11640598 2 2023-01-01 2023-12-31 11640598 2 2022-01-01 2022-12-31 11640598 d:Director1 2023-01-01 2023-12-31 11640598 d:Director3 2023-01-01 2023-12-31 11640598 d:RegisteredOffice 2023-01-01 2023-12-31 11640598 e:ComputerEquipment 2023-01-01 2023-12-31 11640598 e:ComputerEquipment 2023-12-31 11640598 e:ComputerEquipment 2022-12-31 11640598 e:ComputerEquipment e:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11640598 e:CurrentFinancialInstruments 2023-12-31 11640598 e:CurrentFinancialInstruments 2022-12-31 11640598 e:CurrentFinancialInstruments e:WithinOneYear 2023-12-31 11640598 e:CurrentFinancialInstruments e:WithinOneYear 2022-12-31 11640598 e:ShareCapital 2023-12-31 11640598 e:ShareCapital 2022-12-31 11640598 e:ShareCapital 2022-01-01 11640598 e:OtherMiscellaneousReserve 2023-12-31 11640598 e:OtherMiscellaneousReserve 1 2023-01-01 2023-12-31 11640598 e:OtherMiscellaneousReserve 2 2023-01-01 2023-12-31 11640598 e:OtherMiscellaneousReserve 2022-01-01 2022-12-31 11640598 e:OtherMiscellaneousReserve 2022-12-31 11640598 e:OtherMiscellaneousReserve 2022-01-01 11640598 e:OtherMiscellaneousReserve 1 2022-01-01 2022-12-31 11640598 e:OtherMiscellaneousReserve 2 2022-01-01 2022-12-31 11640598 e:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 11640598 e:RetainedEarningsAccumulatedLosses 2023-12-31 11640598 e:RetainedEarningsAccumulatedLosses 2 2023-01-01 2023-12-31 11640598 e:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 11640598 e:RetainedEarningsAccumulatedLosses 2022-12-31 11640598 e:RetainedEarningsAccumulatedLosses 2022-01-01 11640598 e:RetainedEarningsAccumulatedLosses 2 2022-01-01 2022-12-31 11640598 d:OrdinaryShareClass1 2023-01-01 2023-12-31 11640598 d:OrdinaryShareClass1 2023-12-31 11640598 d:OrdinaryShareClass1 2022-12-31 11640598 d:FRS102 2023-01-01 2023-12-31 11640598 d:Audited 2023-01-01 2023-12-31 11640598 d:FullAccounts 2023-01-01 2023-12-31 11640598 d:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11640598 e:WithinOneYear 2023-12-31 11640598 e:WithinOneYear 2022-12-31 11640598 d:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11640598 e:AcceleratedTaxDepreciationDeferredTax 2023-12-31 11640598 e:AcceleratedTaxDepreciationDeferredTax 2022-12-31 11640598 e:OtherDeferredTax 2023-12-31 11640598 e:OtherDeferredTax 2022-12-31 11640598 4 2023-01-01 2023-12-31 11640598 e:ShareCapital 2 2023-01-01 2023-12-31 11640598 e:ShareCapital 2 2022-01-01 2022-12-31 11640598 f:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure


Registered number: 11640598












CS DISCO LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

 

CS DISCO LIMITED

CONTENTS



Page
Company information
 
1
Balance sheet
 
2
Statement of changes in equity
 
3
Notes to the financial statements
 
4 - 11


 

CS DISCO LIMITED
 
COMPANY INFORMATION


Directors
M Lafair 
K Herckis 




Registered number
11640598



Registered office
16 Great Queen Street
Covent Garden

London

WC2B 5AH




Independent auditor
Blick Rothenberg Audit LLP
Chartered Accountants & Statutory Auditor

16 Great Queen Street

Covent Garden

London

WC2B 5AH




Page 1


 
REGISTERED NUMBER:11640598
CS DISCO LIMITED

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
23,317
30,540

Current assets
  

Debtors: amounts falling due within one year
 5 
1,969,787
1,300,847

Cash at bank and in hand
  
155,350
259,118

  
2,125,137
1,559,965

Creditors: amounts falling due within one year
 6 
(471,241)
(582,730)

Net current assets
  
 
 
1,653,896
 
 
977,235

Total assets less current liabilities
  
1,677,213
1,007,775

Provisions for liabilities
  

Deferred tax
 7 
(5,829)
-

Net assets
  
1,671,384
1,007,775


Capital and reserves
  

Called up share capital 
 8 
1
1

Other reserves
  
706,294
294,571

Profit and loss account
  
965,089
713,203

  
1,671,384
1,007,775


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: 




M Lafair
Director

Date: 23 December 2024

The notes on pages 4 to 11 form part of these financial statements.

Page 2

 

CS DISCO LIMITED

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Share option reserve
Profit and loss account
Total equity

£
£
£
£


At 1 January 2022
1
50,435
305,487
355,923



Profit for the financial period
-
-
324,307
324,307

Share options exercised
-
(2,030)
2,030
-

Share based payment expense
-
327,545
-
327,545

Deferred tax transferred from profit and loss
-
(81,379)
81,379
-



At 1 January 2023
1
294,571
713,203
1,007,775



Profit for the financial year
-
-
345,874
345,874

Share based payment expense
-
317,735
-
317,735

Deferred tax transferred from profit and loss
-
93,988
(93,988)
-


At 31 December 2023
1
706,294
965,089
1,671,384


The notes on pages 4 to 11 form part of these financial statements.

Page 3

 

CS DISCO LIMITED

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

1.


General information

CS Disco Limited is a private company limited by shares incorporated in England and Wales. The address of its registered office is 16 Great Queen Street, Covent Garden, London WC2B 5AH.
The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. 

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 judgement in applying the company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company’s main customer is CS Disco Inc., its parent undertaking. The company is therefore dependant on the financial performance and support of CS Disco Inc., from whom the company has received a letter of financial support. Without such support the company would not be a going concern.
As the going concern status of this company is intertwined with that of its parent company, the directors have made enquiries as to the financial position and performance of its parent company. The company has received a letter of support from its parent undertaking, CS Disco Inc, that it will continue to provide the funding necessary to enable the entity to settle its liabilities as they fall due. CS Disco Inc is listed on the New York Stock Exchange and has raised substantial funding. For this reason, the directors have a reasonable expectation that the group will be able to continue to support the company to allow it to continue in operation existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

 
2.3

Revenue

Revenue from contracts to provide sales, marketing and technology support services to the parent company is recognised in the period in which the services are provided. Revenue is recognised to the extent that it is probable that the company will receive the consideration due under the contract and the amounts of revenue can be measured reliably. Revenue is measured as the fair value of the consideration received or receivable, excluding value added tax.

Page 4

 

CS DISCO LIMITED

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

2.Accounting policies (continued)

 
2.4

Financial instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. 
 
The company’s policies for its major classes of financial assets and financial liabilities are set out below. 
Financial assets
Basic financial assets, including trade and other debtors, cash and bank balances and intercompany working capital balances, are initially recognised at transaction price, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Financial liabilities
Basic financial liabilities, including trade and other creditors, and intercompany working capital balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
 
 




Page 5

 

CS DISCO LIMITED

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

2.Accounting policies (continued)

 

Financial instruments

Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. 
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 
For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. 
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
 
Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. 
 
Offsetting of financial assets and financial liabilities
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.

 
2.5

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 6

 

CS DISCO LIMITED

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

2.Accounting policies (continued)


2.5
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:

Computer equipment
-
24 months

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.

 
2.6

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

  
2.7

Share capital

Ordinary shares are classified as equity.

 
2.8

Foreign currency translation

Functional and presentation currency

The company's functional currency is USD. This differs from the presentational currency which 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.
All foreign exchange gains and losses are presented in profit or loss within 'administrative expenses'

 
2.9

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 7

 

CS DISCO LIMITED

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

2.Accounting policies (continued)

 
2.10

Share-based payments

Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each balance sheet date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition.
The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the company keeping the scheme open or the employee maintaining any contributions required by the scheme).
Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period.
Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.

 
2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years.
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 arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.
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. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.12

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the company but are presented separately due to their size or incidence.

Page 8

 

CS DISCO LIMITED

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 31 (2022 - 28).


4.


Tangible fixed assets





Computer equipment

£



Cost


At 1 January 2023
89,192


Additions
26,325



At 31 December 2023

115,517



Depreciation


At 1 January 2023
58,652


Charge for the year
33,548



At 31 December 2023

92,200



Net book value



At 31 December 2023
23,317



At 31 December 2022
30,540

Page 9

 

CS DISCO LIMITED

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

5.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
1,621,103
1,085,039

Other debtors
219,712
93,693

Prepayments and accrued income
128,972
35,762

Deferred taxation
-
86,353

1,969,787
1,300,847


Amounts due from group undertakings are interest free, have no fixed repayment date and are repayable on demand.


6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
134,133
57,883

Corporation tax
18,635
142,470

Other taxation and social security
113,319
131,881

Other creditors
-
1,974

Accruals and deferred income
205,154
248,522

471,241
582,730



7.


Deferred taxation




2023


£






At beginning of year
86,353


Charged to profit or loss
(92,182)



At end of year
(5,829)

Page 10

 

CS DISCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
 
7.Deferred taxation (continued)

The deferred taxation balance is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(5,829)
(7,635)

Other short term timing variances
-
93,988

(5,829)
86,353


8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary share of £1.00
1
1



9.


Commitments under operating leases

At 31 December 2023 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
38,600
38,600


10.


Related party transactions

The company has taken advantage of the exemption contained in FRS 102 section 33 "Related Party Disclosures" from disclosing transactions with entities which are a wholly owned part of the group.


11.


Parent undertaking

The smallest group for which consolidated financial statements are drawn up is headed by CS Disco Inc., whose registered office is 111 Congress Ave., Suite 900, Austin, TX 78701, United States of Amercia.

12.


Auditor's information

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

The audit report was signed on 27 December 2024 by Adam Wildbore (senior statutory auditor) on behalf of Blick Rothenberg Audit LLP.

 
Page 11