Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31true22023-01-01falseOther information technology services activities2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10891459 2023-01-01 2023-12-31 10891459 2022-01-01 2022-12-31 10891459 2023-12-31 10891459 2022-12-31 10891459 c:Director1 2023-01-01 2023-12-31 10891459 c:RegisteredOffice 2023-01-01 2023-12-31 10891459 d:OfficeEquipment 2023-01-01 2023-12-31 10891459 d:OfficeEquipment 2023-12-31 10891459 d:OfficeEquipment 2022-12-31 10891459 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10891459 d:ComputerEquipment 2023-01-01 2023-12-31 10891459 d:ComputerEquipment 2023-12-31 10891459 d:ComputerEquipment 2022-12-31 10891459 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10891459 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10891459 d:CurrentFinancialInstruments 2023-12-31 10891459 d:CurrentFinancialInstruments 2022-12-31 10891459 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 10891459 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 10891459 d:ShareCapital 2023-12-31 10891459 d:ShareCapital 2022-12-31 10891459 d:RetainedEarningsAccumulatedLosses 2023-12-31 10891459 d:RetainedEarningsAccumulatedLosses 2022-12-31 10891459 c:OrdinaryShareClass1 2023-01-01 2023-12-31 10891459 c:OrdinaryShareClass1 2023-12-31 10891459 c:OrdinaryShareClass1 2022-12-31 10891459 c:FRS102 2023-01-01 2023-12-31 10891459 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 10891459 c:FullAccounts 2023-01-01 2023-12-31 10891459 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10891459 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure


Registered number: 10891459












ECONOMIC DATA SCIENCES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

 

ECONOMIC DATA SCIENCES LTD

CONTENTS



Page
Company information
 
1
Balance sheet
 
2 - 3
Notes to the financial statements
 
4 - 9

 

ECONOMIC DATA SCIENCES LTD
 
COMPANY INFORMATION


Director
E Walsh 




Registered number
10891459



Registered office
1 Brunel Way
Level 2

Slough

SL1 1FQ




Accountants
Blick Rothenberg Limited
Chartered Accountants

16 Great Queen Street

Covent Garden

London

WC2B 5AH




Page 1


 
REGISTERED NUMBER:10891459
ECONOMIC DATA SCIENCES LTD

BALANCE SHEET
AS AT 31 DECEMBER 2023

As restated
2023
2022
Note
£
£

Fixed assets
  

Tangible assets

 4 

791
632

Current assets
  

Debtors: amounts falling due within one year
 5 
53,006
56,700

Cash at bank and in hand
  
12,835
2,421

  
65,841
59,121

Creditors: amounts falling due within one year
 6 
(66,546)
(54,580)

Net current (liabilities)/assets
  
 
 
(705)
 
 
4,541

  

Net assets
  
86
5,173


Capital and reserves
  

Called up share capital 
 7 
2
2

Profit and loss account
  
84
5,171

Total equity
  
86
5,173


Page 2


 
REGISTERED NUMBER:10891459
ECONOMIC DATA SCIENCES LTD
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

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 profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved, authorised for issue and signed by the sole director.




E Walsh
Director

Date: 29 January 2025

The notes on pages 4 to 9 form part of these financial statements.
Page 3

 

ECONOMIC DATA SCIENCES LTD

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

1.


General information

Economic Data Sciences Ltd is a private company limited by shares incorporated in England and Wales. Its registered office is 1 Brunel Way, Level 2, Slough, England, SL1 1FQ.
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 following principal accounting policies have been applied:

 
2.2

Going concern

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational 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 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:

Rendering of services

Revenue 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.

Page 4

 

ECONOMIC DATA SCIENCES LTD

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

2.Accounting policies (continued)

 
2.4

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.

 
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

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

  
2.7

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.

 
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 5

 

ECONOMIC DATA SCIENCES LTD

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

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:

Office equipment
-
33%
Computer 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

Cash

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

  
2.10

Share capital

Ordinary shares are classified as equity.


2.11

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, intercompany working capital balances, and intercompany financing 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.

Page 6

 

ECONOMIC DATA SCIENCES LTD

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

2.Accounting policies (continued)




Financial instruments (continued)

Financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

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.

Page 7

 

ECONOMIC DATA SCIENCES LTD

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 2 (2022 - 2).


4.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost 


At 1 January 2023
780
503
1,283


Additions
-
625
625



At 31 December 2023

780
1,128
1,908



Depreciation


At 1 January 2023
455
196
651


Charge for the year on owned assets
260
206
466



At 31 December 2023

715
402
1,117



Net book value



At 31 December 2023
65
726
791



At 31 December 2022
325
307
632


5.


Debtors

2023
2022
£
£


Other debtors
16,342
3,125

Prepayments and accrued income
36,664
53,575

53,006
56,700


Page 8

 

ECONOMIC DATA SCIENCES LTD

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

6.


Creditors: amounts falling due within one year

2023
2022
£
£

Trade creditors
14,363
-

Corporation tax
2,910
-

Other taxation and social security
12,686
4,319

Other creditors
31,912
44,036

Accruals and deferred income
4,675
6,225

66,546
54,580



7.


Share capital

As restated
2023
2022
£
£
Allotted, called up and fully paid



2 (2022 - 2) Ordinary shares of £1 each
2
2



8.


Prior year adjustment

The comparative figures in these financial statements have been restated due to an error in the prior year relating to the share capital.
The share capital was overstated by £98 and the amount owed to director was understated by £98.

9.


Related party transactions

Included within other creditors is an amount of £31,912 (2022 - £44,036 restated) owed to the director of the company. The loan is provided unsecured, interest free and is repayable on demand.

 
Page 9