Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31true2023-05-01falseNo description of principal activity75falsefalse 08490867 2023-05-01 2023-12-31 08490867 2022-05-01 2023-04-30 08490867 2023-12-31 08490867 2023-04-30 08490867 2022-05-01 08490867 c:PriorPeriodIncreaseDecrease 2023-05-01 2023-12-31 08490867 1 2023-05-01 2023-12-31 08490867 d:Director1 2023-05-01 2023-12-31 08490867 d:Director2 2023-05-01 2023-12-31 08490867 d:RegisteredOffice 2023-05-01 2023-12-31 08490867 c:PlantMachinery 2023-05-01 2023-12-31 08490867 c:PlantMachinery 2023-12-31 08490867 c:PlantMachinery 2023-04-30 08490867 c:FurnitureFittings 2023-05-01 2023-12-31 08490867 c:FurnitureFittings 2023-12-31 08490867 c:FurnitureFittings 2023-04-30 08490867 c:ComputerEquipment 2023-05-01 2023-12-31 08490867 c:ComputerEquipment 2023-12-31 08490867 c:ComputerEquipment 2023-04-30 08490867 c:CurrentFinancialInstruments 2023-12-31 08490867 c:CurrentFinancialInstruments 2023-04-30 08490867 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 08490867 c:CurrentFinancialInstruments c:WithinOneYear 2023-04-30 08490867 c:ShareCapital 2023-12-31 08490867 c:ShareCapital 2023-04-30 08490867 c:ShareCapital 2022-05-01 08490867 c:RetainedEarningsAccumulatedLosses 2023-05-01 2023-12-31 08490867 c:RetainedEarningsAccumulatedLosses 2023-12-31 08490867 c:RetainedEarningsAccumulatedLosses c:PriorPeriodIncreaseDecrease 2023-05-01 2023-12-31 08490867 c:RetainedEarningsAccumulatedLosses 2022-05-01 2023-04-30 08490867 c:RetainedEarningsAccumulatedLosses 2023-04-30 08490867 c:RetainedEarningsAccumulatedLosses 2022-05-01 08490867 d:FRS102 2023-05-01 2023-12-31 08490867 d:Audited 2023-05-01 2023-12-31 08490867 d:FullAccounts 2023-05-01 2023-12-31 08490867 d:PrivateLimitedCompanyLtd 2023-05-01 2023-12-31 08490867 d:SmallCompaniesRegimeForAccounts 2023-05-01 2023-12-31 08490867 e:PoundSterling 2023-05-01 2023-12-31 08490867 c:ShareCapital c:PriorPeriodErrorIncreaseDecrease 2023-05-01 2023-12-31 08490867 c:RetainedEarningsAccumulatedLosses c:PreviouslyStatedAmount 2023-04-30 08490867 c:PreviouslyStatedAmount 2023-04-30 iso4217:GBP xbrli:pure
Registered number: 08490867 (England and Wales)














NUTRICALC LIMITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2023


 
NUTRICALC LIMITED
 

 
COMPANY INFORMATION


Directors
G Nowacki 
S R Posey 




Registered number
08490867



Registered office
Birchin Court
5th Floor

19-25 Birchin Lane

London

United Kingdom

EC3V 9DU




Independent auditors
ZEDRA Corporate Reporting Services (UK) Limited






 
NUTRICALC LIMITED
 


CONTENTS



Page
Balance Sheet
 
1 - 2
Statement of Changes in Equity
 
3
Notes to the Financial Statements
 
4 - 10



 
NUTRICALC LIMITED
REGISTERED NUMBER:08490867


BALANCE SHEET
AS AT 31 DECEMBER 2023

31 December
As restated
30 April
2023
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
3,196

  
-
3,196

Current assets
  

Debtors: amounts falling due within one year
 5 
51,954
65,222

Cash at bank and in hand
  
386,970
239,116

  
438,924
304,338

Creditors: amounts falling due within one year
 6 
(326,022)
(276,494)

Net current assets
  
 
 
112,902
 
 
27,844

Total assets less current liabilities
  
112,902
31,040

  

Net assets
  
112,902
31,040

Page 1


 
NUTRICALC LIMITED
REGISTERED NUMBER:08490867

    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

31 December
As restated
30 April
2023
2023
£
£

Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
112,802
30,940

  
112,902
31,040


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: 




S R Posey
Director

Date: 17 January 2025

The notes on pages 4 to 10 form part of these financial statements.

Page 2


 
NUTRICALC LIMITED
 


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


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 May 2022
100
85,913
86,013



Loss for the year
-
(54,973)
(54,973)



At 1 May 2023 (as previously stated)
100
224,269
224,369

Prior year adjustment
-
(193,329)
(193,329)


At 1 May 2023 (as restated)
100
30,940
31,040



Profit for the period
-
81,862
81,862


At 31 December 2023
100
112,802
112,902


Page 3


 
NUTRICALC LIMITED
 

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

1.Accounting policies

 
1.1

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:

  
1.2

Going concern

NutriCalc Limited is in a net asset position supported primarily by a strong cash position. The directors have considered the parent company's (TraceGains Inc) ability to provide financial support and has received written confirmation that it will continue to do so for a period of at least 12 months from the date of signing these financial statements. 
The directors have assessed the forecasts of the parent company for at least 12 months from the date of signing these financial statements and have concluded that the required support remains available to the Company. For these reasons, the directors continue to adopt the going concern basis in preparing the financial statements.

 
1.3

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.

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'.

Page 4


 
NUTRICALC LIMITED
 

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

1.Accounting policies (continued)

 
1.4

Turnover

Turnover 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. Turnover 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

Turnover 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.

Turnover is generated through the sale of subscription-based nutrition calculation software, on an annual or monthly basis. This software allows for professional food businesses to create recipes, generate nutrition data, and produce compliant food labels and reports.

 
1.5

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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
1.6

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.

Page 5


 
NUTRICALC LIMITED
 

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

1.Accounting policies (continued)

 
1.7

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.

 
1.8

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, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
4 years
Fixtures and fittings
-
5 years
Computer equipment
-
3 years

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.

Following the acquisition by TraceGains, Inc., the company adopted the group's capitalisation policy for its fixed assets. According to this policy, assets with a carrying value of $500 or more are capitalised. Upon reviewing the remaining fixed assets, it was determined that all had a carrying value below this threshold at the period end and were subsequently disposed of.

Page 6


 
NUTRICALC LIMITED
 

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

1.Accounting policies (continued)

  
1.9

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.

 
1.10

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
1.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions.

  
1.12

Creditors

Short term creditors are measured at the transaction price. Amounts owed to group undertakings are intercompany loans measured at cost. These loans are unsecured, interest free and repayable on demand.


2.


Auditors' information

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

The audit report was signed on 17 January 2025 by Dominic King FCA (Senior Statutory Auditor) on behalf of ZEDRA Corporate Reporting Services (UK) Limited.

The Company did not require an audit in the previous period, as a result the comparatives have not been audited.


3.


Employees

The average monthly number of employees during the period was 7 (April 2023 - 5).

Page 7


 
NUTRICALC LIMITED
 

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

4.


Tangible fixed assets







Plant and machinery
Fixtures and fittings
Computer equipment
Total

£
£
£
£





At 1 May 2023
274
3,266
10,119
13,659


Additions
-
933
-
933


Disposals
(274)
(4,199)
(10,119)
(14,592)



At 31 December 2023

-
-
-
-





At 1 May 2023
159
2,360
7,944
10,463


Disposals
(159)
(2,360)
(7,944)
(10,463)



At 31 December 2023

-
-
-
-



Net book value



At 31 December 2023
-
-
-
-



At 30 April 2023
115
906
2,175
3,196

Page 8


 
NUTRICALC LIMITED
 

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

5.


Debtors

31 December
30 April
2023
2023
£
£


Trade debtors
30,678
60,122

Other debtors
21,276
500

Prepayments and accrued income
-
4,600

51,954
65,222



6.


Creditors: Amounts falling due within one year

31 December
As restated
30 April
2023
2023
£
£

Trade creditors
12,653
1,631

Amounts owed to group undertakings
22,950
-

Corporation tax
-
33,288

Other taxation and social security
51,964
34,425

Other creditors
8,817
13,101

Accruals and deferred income
229,638
194,049

326,022
276,494



7.


Prior year adjustment

During the current year, the directors identified that revenue was incorrectly recognised on a cash basis in the prior year, which was not in line with FRS 102. As a result, a prior year adjustment has been included to account for the correct revenue recognition over this period.
The overall effect of this adjustment is a decrease in prior year revenue by £193,329, with a corresponding increase in deferred revenue and a decrease in retained earnings by the same amount.


8.


Controlling party

Information Exchange Holdings is the parent of the smallest group for which consolidated financial statements are drawn up of which the Company is a member. The registered office of the parent company is 12303 Airport Way Building I, Suite 180, Broomfield, CO 80021.

Page 9


 
NUTRICALC LIMITED
 

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

9.


Post balance sheet events

On 7 October 2024, the Company's ultimate parent, Information Exchange Holdings, was acquired by Veralto Corporation. Following this, the Company paid £61,916 in payouts in relation to Share Appreciation Rights to employees, in line with prior year equity incentive agreements. This amount was settled in October 2024. This is considered a non-adjusting event.
On 7 October 2024, the Company filed a Statement of Satisfaction with Companies House, indicating the full satisfaction of a charge made against the Company on 21 September 2023. This event occurred after the reporting period and does not impact the financial position as of 31 December 2023. The Company has met all obligations under the debenture.
There were no adjusting or other non-adjusting events occurring between the end of the reporting period and the date these financial statements were approved.

 
Page 10