Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31The principal activities of the Company in the period under review were software development.2023-02-01false2824truetruefalse 11476842 2023-02-01 2024-01-31 11476842 2022-02-01 2023-01-31 11476842 2024-01-31 11476842 2023-01-31 11476842 2022-02-01 11476842 c:Director1 2023-02-01 2024-01-31 11476842 d:FurnitureFittings 2023-02-01 2024-01-31 11476842 d:FurnitureFittings 2024-01-31 11476842 d:FurnitureFittings 2023-01-31 11476842 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 11476842 d:ComputerEquipment 2023-02-01 2024-01-31 11476842 d:ComputerEquipment 2024-01-31 11476842 d:ComputerEquipment 2023-01-31 11476842 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 11476842 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 11476842 d:CurrentFinancialInstruments 2024-01-31 11476842 d:CurrentFinancialInstruments 2023-01-31 11476842 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 11476842 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 11476842 d:ShareCapital 2023-02-01 2024-01-31 11476842 d:ShareCapital 2024-01-31 11476842 d:ShareCapital 2022-02-01 2023-01-31 11476842 d:ShareCapital 2023-01-31 11476842 d:ShareCapital 2022-02-01 11476842 d:RetainedEarningsAccumulatedLosses 2023-02-01 2024-01-31 11476842 d:RetainedEarningsAccumulatedLosses 2024-01-31 11476842 d:RetainedEarningsAccumulatedLosses 2022-02-01 2023-01-31 11476842 d:RetainedEarningsAccumulatedLosses 2023-01-31 11476842 d:RetainedEarningsAccumulatedLosses 2022-02-01 11476842 c:FRS102 2023-02-01 2024-01-31 11476842 c:Audited 2023-02-01 2024-01-31 11476842 c:FullAccounts 2023-02-01 2024-01-31 11476842 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 11476842 c:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 11476842 2 2023-02-01 2024-01-31 11476842 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Registered number: 11476842









IMMUTA LTD









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
IMMUTA LTD
REGISTERED NUMBER: 11476842

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
£
£

Fixed assets
  

Tangible assets
 4 
12,109
6,647

Current assets
  

Debtors: amounts falling due within one year
 5 
1,947,216
619,150

Cash at bank and in hand
 6 
343,772
475,919

  
2,290,988
1,095,069

Creditors: amounts falling due within one year
 7 
(1,520,740)
(639,094)

Net current assets
  
 
 
770,248
 
 
455,975

  

Net assets
  
782,357
462,622


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
782,257
462,522

  
782,357
462,622


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 Carroll
Director

Date: 29 January 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 1

 
IMMUTA LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 February 2022
100
180,506
180,606


Comprehensive income for the year

Profit for the year
-
282,016
282,016
Total comprehensive income for the year
-
282,016
282,016


Total transactions with owners
-
-
-



At 1 February 2023
100
462,522
462,622


Comprehensive income for the year

Profit for the year
-
319,735
319,735
Total comprehensive income for the year
-
319,735
319,735


Total transactions with owners
-
-
-


At 31 January 2024
100
782,257
782,357


The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
IMMUTA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Immuta Ltd (the Company) is a company incorporated on 23 July 2018 in the United Kingdom under the Companies Act. The Company is a private company limited by shares and is registered in England and Wales. The address of the Company's registered office is Suite 4, 7th Floor 50 Broadway, London, United Kingdom, SW1H 0DB. 
The principal activities of the Company in the period under review were software development.

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

The Company has obtained a letter of support from Immuta Inc., its parent company. The directors of Immuta Inc. have provided a commitment to provide any financial support which may be necessary in order that the Company can meet its liabilities, as they fall due and for the foreseeable future.
As a result of the above the directors of the Company have continued to adopt the going concern basis in preparing these financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP, rounded to the nearest whole £.

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.

Page 3

 
IMMUTA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.4

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:

Revenue from a sales and marketing agreement with the parent company is recognised, excluding value added tax when costs are incurred.

 
2.5

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.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

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 4

 
IMMUTA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.8

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.

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

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 except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Page 5

 
IMMUTA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.10

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:

Fixtures and fittings
-
over 3 years
Computer equipment
-
over 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.

 
2.11

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.

 
2.12

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.

 
2.13

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.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 6

 
IMMUTA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 28 (2023 - 24).


4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 February 2023
-
8,107
8,107


Additions
3,141
6,682
9,823



At 31 January 2024

3,141
14,789
17,930



Depreciation


At 1 February 2023
-
1,460
1,460


Charge for the year on owned assets
785
3,576
4,361



At 31 January 2024

785
5,036
5,821



Net book value



At 31 January 2024
2,356
9,753
12,109



At 31 January 2023
-
6,647
6,647

Page 7

 
IMMUTA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
1,895,139
477,700

Other debtors
16,386
95,195

Prepayments
24,789
18,209

Deferred taxation
10,902
28,046

1,947,216
619,150



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
343,772
475,919



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
36,063
20,691

Corporation tax
249,951
105,897

Other taxation and social security
212,339
194,132

Other creditors
16
-

Accruals and deferred income
1,022,371
318,374

1,520,740
639,094



8.


Pension commitments

The Company operates a defined contribution 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 £186,979 (2023: £162,462). Contributions totalling £25,572 (2023: £22,158) were payable to the fund at the balance sheet date and are included in creditors.

Page 8

 
IMMUTA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

9.


Controlling party

The immediate ultimate parent company is Immuta Inc, a company incorporated in the USA. 
The largest and smallest group of undertakings for which group accounts have been prepared and which includes the Company is that headed by Immuta Inc25 Thomson Place, 4th Floor, Boston MA. 02210, USA.


10.


Auditor's information

The auditor's report on the financial statements for the year ended 31 January 2024 was unqualified.

The audit report was signed on 30 January 2025 by Simon Buss (Senior Statutory Auditor) on behalf of Nortons Assurance Limited.

 
Page 9