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Registered number: 14063666









LONDON REPORTING HOUSE 2022 LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
LONDON REPORTING HOUSE 2022 LIMITED
REGISTERED NUMBER: 14063666

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2024
2023
2023
Note
£
£
£
£

Fixed assets
  

Tangible assets
 5 
2,102
3,354

  
2,102
3,354

Current assets
  

Debtors: amounts falling due within one year
 6 
2,698
125,453

Cash at bank and in hand
 7 
101,963
259,894

  
104,661
385,347

Creditors: amounts falling due within one year
  
(314,060)
(74,401)

Net current (liabilities)/assets
  
 
 
(209,399)
 
 
310,946

Total assets less current liabilities
  
(207,297)
314,300

Creditors: amounts falling due after more than one year
  
(455,310)
-

  

Net (liabilities)/assets
  
(662,607)
314,300


Capital and reserves
  

Called up share capital 
 9 
10
10

Share premium account
  
800,000
699,995

Profit and loss account
  
(1,462,617)
(385,705)

  
(662,607)
314,300


Page 1

 
LONDON REPORTING HOUSE 2022 LIMITED
REGISTERED NUMBER: 14063666
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

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: 




................................................
Dario Marcello Crispini
Director

Date: 31 January 2025

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

Page 2

 
LONDON REPORTING HOUSE 2022 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

London Reporting House 2022 Limited is a private company, limited by shares, registered in England and Wales. The company’s registered number and registered office address are available on the company information page.
The principal activity of the company is to provide advanced repo analytics tools, offering detailed and timely market data for both front and back-office functions. 
In partnership with Kaizen Reporting Limited, the company leverages Kaizen’s IT infrastructure and 
legal framework to enhance its platform. This collaboration ensures high-quality data through the 
use of ReportShield™ quality assurance services.

  
1.1

Reporting Period

The current reporting period covers 12 months from 1 February 2023 to 31 January 2024, whereas the prior period was approximately 9 months, from 22 April 2022 to 31 January 2023.

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

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.

 
2.3

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.

Page 3

 
LONDON REPORTING HOUSE 2022 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 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

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.

 
2.6

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

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:

Computer equipment
-
33%
on cost

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 4

 
LONDON REPORTING HOUSE 2022 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Financial liabilities

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 the deduction of all its liabilities.
Page 5

 
LONDON REPORTING HOUSE 2022 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)


2.11
Financial instruments (continued)


Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Page 6

 
LONDON REPORTING HOUSE 2022 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the company’s accounting policies, management is required to make judgements, estimates, and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates
.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
Key sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year include:
Provisions: Provisions are measured at the management’s best estimate of the expenditure required to settle the obligation at the end of the reporting period. These estimates are based on current legal and constructive obligations and may require the use of assumptions about future events.
 


4.


Employees

2024
2023
£
£

Wages and salaries
643,711
336,258

Social security costs
81,054
43,992

Cost of defined contribution scheme
6,136
1,510

730,901
381,760


The average monthly number of employees, including directors, during the year was 6 (2023 - 3).

Page 7

 
LONDON REPORTING HOUSE 2022 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 February 2023
3,852



At 31 January 2024

3,852



Depreciation


At 1 February 2023
497


Charge for the year on owned assets
1,253



At 31 January 2024

1,750



Net book value



At 31 January 2024
2,102



At 31 January 2023
3,354


6.


Debtors

2024
2023
£
£


Other debtors
2,698
11,289

Tax recoverable
-
114,164

2,698
125,453



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
101,963
259,894

101,963
259,894


Page 8

 
LONDON REPORTING HOUSE 2022 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Amounts owed to group undertakings
455,310
-

455,310
-



9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100,000 (2023 - 100,000) Ordinary shares of £- each
10
10



10.


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 £5,571. As at the balance sheet date, contributions amounting £1,027 had not been paid over to the fund and are included within creditors.


11.


Related party transactions

No disclosure has been made for transactions with other wholly owned group companies in accordance with FRS 102 Section 1A paragraph 1AC.35.
During the year London Reporting House 2022 Limited made purchases totalling £2,103 from Cybernetic Controls Limited which is owned and controlled by a common shareholder and director.  There are no outstanding balances with Cybernetic Controls Limited as at the year ended 31 January 2024.


12.


Controlling party and change in group structure

On 28 February 2023, there was a change in the group structure. The ultimate controlling party is now Kaizen Regtech Group Limited, which holds 50.1% of the shares. Prior to this date, the parent company was Kaizen Reporting Limited. Following the change, Kaizen Regtech Group Limited became the new parent company. Its registered office address is 30 St. Mary Axe, London, England, EC3A 8BF.


13.


Auditors' information

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

The audit report was signed on 31 January 2025 by Michael Lerman (Senior Statutory Auditor) on behalf of Halkin Lerman Davis Ltd.

 
Page 9