Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-04-01falseNo description of principal activity11falsetruefalse 11273796 2023-04-01 2024-03-31 11273796 2022-04-01 2023-03-31 11273796 2024-03-31 11273796 2023-03-31 11273796 c:Director1 2023-04-01 2024-03-31 11273796 d:ComputerEquipment 2023-04-01 2024-03-31 11273796 d:ComputerEquipment 2024-03-31 11273796 d:ComputerEquipment 2023-03-31 11273796 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11273796 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-03-31 11273796 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-31 11273796 d:CurrentFinancialInstruments 2024-03-31 11273796 d:CurrentFinancialInstruments 2023-03-31 11273796 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 11273796 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 11273796 d:ShareCapital 2024-03-31 11273796 d:ShareCapital 2023-03-31 11273796 d:RetainedEarningsAccumulatedLosses 2024-03-31 11273796 d:RetainedEarningsAccumulatedLosses 2023-03-31 11273796 c:FRS102 2023-04-01 2024-03-31 11273796 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 11273796 c:FullAccounts 2023-04-01 2024-03-31 11273796 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11273796 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:InternallyGeneratedIntangibleAssets 2023-04-01 2024-03-31 11273796 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-04-01 2024-03-31 11273796 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: 11273796













ALMOST TANGIBLE LTD
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024


 
ALMOST TANGIBLE LTD
REGISTERED NUMBER:11273796


BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
27,856
12,287

Tangible assets
 5 
282
77

  
28,138
12,364

Current assets
  

Debtors: amounts falling due within one year
 6 
-
62

Cash at bank and in hand
 7 
13,564
11,225

  
13,564
11,287

Creditors: amounts falling due within one year
 8 
(258,987)
(243,187)

Net current liabilities
  
 
 
(245,423)
 
 
(231,900)

Total assets less current liabilities
  
(217,285)
(219,536)

  

Net liabilities
  
(217,285)
(219,536)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(217,385)
(219,636)

  
(217,285)
(219,536)


Page 1


 
ALMOST TANGIBLE LTD
REGISTERED NUMBER:11273796

    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers 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 director acknowledges her 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: 




Charlotte Melen
Director

Date: 20 December 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2


 
ALMOST TANGIBLE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Almost Tangible Ltd is a private Company limited by shares, incorporated and registered in England and Wales, United Kingdom. The Company's registered office is Harwood House, 43 Harwood Road, London, SW6 4QP.

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

Going concern

During the year ended 31 March 2024 the Company made a profit after tax of £2,251 (2023: loss of £3,865), reducing the balance sheet deficit to £217,285 (2023: £219,536) at the year end. Within this balance is a balance of £257,226 (See note 10) owed to related persons of the Company who have agreed to continue to provide such financial support as is required whilst the Company strengthens its own financial position.
In light of the above, the director is confident that the Company will continue in operational existence for the foreseeable future and that the going concern basis is therefore appropriate for the preparation of the Company's accounts.

 
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.

Page 3


 
ALMOST TANGIBLE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
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.

 
2.5

Borrowing costs

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

 
2.6

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.

 
2.7

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.

Page 4


 
ALMOST TANGIBLE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.8
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:

Equipment
-
33%

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

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 1 (2023 - 1).

Page 5


 
ALMOST TANGIBLE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Intangible assets




Audiobooks

£



Cost


At 1 April 2023
73,823


Additions - internal
46,258



At 31 March 2024

120,081



Amortisation


At 1 April 2023
61,536


Charge for the year on owned assets
30,689



At 31 March 2024

92,225



Net book value



At 31 March 2024
27,856



At 31 March 2023
12,287



Page 6


 
ALMOST TANGIBLE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Equipment

£



Cost or valuation


At 1 April 2023
12,880


Additions
352



At 31 March 2024

13,232



Depreciation


At 1 April 2023
12,804


Charge for the year on owned assets
146



At 31 March 2024

12,950



Net book value



At 31 March 2024
282


6.


Debtors

2024
2023
£
£


Other debtors
-
62



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
13,564
11,225


Page 7


 
ALMOST TANGIBLE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Creditors: amounts falling due within one year

2024
2023
£
£

Other loans
157,000
157,000

Other taxation and social security
161
433

Other creditors
100,226
84,154

Accruals and deferred income
1,600
1,600

258,987
243,187



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. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £384 (2023 - £nil). Contributions totalling £nil (2023 - £nil) were payable to the fund at the balance sheet date and are included in creditors.


10.


Related party transactions

Included in creditors is a balance of £157,000 (2023: £157,000) unsecured, interest free loan from Aldgate Ventures Limited. 
Also included in other creditors is a balance of £100,226 (2023: £84,155) loan from C Melen.
Nature of relationship and control
Aldgate Venutres Limited is owned by D Sutherland who is related to C Melen.


11.


Controlling party

The ultimate controlling party is C Melen by nature of her shareholding.

Page 8