Caseware UK (AP4) 2024.0.164 2024.0.164 2024-04-282024-04-282023-04-29No description of principal activityfalse11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10883815 2023-04-29 2024-04-28 10883815 2022-04-29 2023-04-28 10883815 2024-04-28 10883815 2023-04-28 10883815 c:Director3 2023-04-29 2024-04-28 10883815 d:OfficeEquipment 2023-04-29 2024-04-28 10883815 d:OfficeEquipment 2024-04-28 10883815 d:OfficeEquipment 2023-04-28 10883815 d:PatentsTrademarksLicencesConcessionsSimilar 2023-04-29 2024-04-28 10883815 d:PatentsTrademarksLicencesConcessionsSimilar 2024-04-28 10883815 d:PatentsTrademarksLicencesConcessionsSimilar 2023-04-28 10883815 d:CurrentFinancialInstruments 2024-04-28 10883815 d:CurrentFinancialInstruments 2023-04-28 10883815 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-28 10883815 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-28 10883815 d:ShareCapital 2024-04-28 10883815 d:ShareCapital 2023-04-28 10883815 d:SharePremium 2024-04-28 10883815 d:SharePremium 2023-04-28 10883815 d:RetainedEarningsAccumulatedLosses 2024-04-28 10883815 d:RetainedEarningsAccumulatedLosses 2023-04-28 10883815 c:OrdinaryShareClass1 2023-04-29 2024-04-28 10883815 c:OrdinaryShareClass1 2024-04-28 10883815 c:OrdinaryShareClass1 2023-04-28 10883815 c:FRS102 2023-04-29 2024-04-28 10883815 c:AuditExempt-NoAccountantsReport 2023-04-29 2024-04-28 10883815 c:FullAccounts 2023-04-29 2024-04-28 10883815 c:PrivateLimitedCompanyLtd 2023-04-29 2024-04-28 10883815 e:PoundSterling 2023-04-29 2024-04-28 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 10883815









AI EXCHANGE LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 APRIL 2024

 
AI EXCHANGE LTD
REGISTERED NUMBER: 10883815

BALANCE SHEET
AS AT 28 APRIL 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 6 
844
3,150

Cash at bank and in hand
 7 
216,384
284,243

  
217,228
287,393

Creditors: amounts falling due within one year
 8 
(1,312)
(7,869)

Net current assets
  
 
 
215,916
 
 
279,524

Total assets less current liabilities
  
215,916
279,524

  

Net assets
  
215,916
279,524


Capital and reserves
  

Called up share capital 
 9 
2,719
2,719

Share premium account
  
10,173,231
10,173,231

Profit and loss account
  
(9,960,034)
(9,896,426)

  
215,916
279,524


Page 1

 
AI EXCHANGE LTD
REGISTERED NUMBER: 10883815
    
BALANCE SHEET (CONTINUED)
AS AT 28 APRIL 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 his 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 income and retained earnings 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: 




................................................
C P Yoshida
Director

Date: 24 January 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
AI EXCHANGE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 APRIL 2024

1.


General information

AI Exchange Ltd is a limited company incorporated in the United Kingdom. The registered office is Northgate House, Northgate Street, Devizes, England, SN10 1JX.  
The principal activity of the company is that of an Artifical Intelligence trading broker. 
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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

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:

Office 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.

Page 3

 
AI EXCHANGE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 APRIL 2024

2.Accounting policies (continued)

 
2.3

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.

 The estimated useful lives range as follows:

Patents
-
3
years

 
2.4

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.

 
2.5

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.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 4

 
AI EXCHANGE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 APRIL 2024

4.


Intangible assets




Patents

£



Cost


At 29 April 2023
14,975



At 28 April 2024

14,975



Amortisation


At 29 April 2023
14,975



At 28 April 2024

14,975



Net book value



At 28 April 2024
-



At 28 April 2023
-



Page 5

 
AI EXCHANGE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 APRIL 2024

5.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 29 April 2023
21,316



At 28 April 2024

21,316



Depreciation


At 29 April 2023
21,316



At 28 April 2024

21,316



Net book value



At 28 April 2024
-



At 28 April 2023
-


6.


Debtors

2024
2023
£
£


Other debtors
844
3,150

844
3,150



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
216,384
284,243

216,384
284,243


Page 6

 
AI EXCHANGE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 APRIL 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
1,028
7,319

Accruals and deferred income
284
550

1,312
7,869



9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



271,900 (2023 - 271,900) Ordinary shares of £0.01 each
2,719
2,719


 
Page 7