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Registered number: 08833313










CHC DIGITAL LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
CHC DIGITAL LIMITED
REGISTERED NUMBER: 08833313

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,303
1,736

Current assets
  

Debtors: amounts falling due within one year
 5 
47,232
37,056

Cash at bank and in hand
 6 
906
486

  
48,138
37,542

Creditors: amounts falling due within one year
 7 
(17,171)
(13,980)

Net current assets
  
 
 
30,967
 
 
23,562

Total assets less current liabilities
  
32,270
25,298

Creditors: amounts falling due after more than one year
 8 
(6,000)
(10,000)

Provisions for liabilities
  

Deferred tax
 10 
(270)
(330)

  
 
 
(270)
 
 
(330)

Net assets
  
26,000
14,968


Capital and reserves
  

Called up share capital 
 11 
104
104

Share premium account
  
49,975
49,975

Profit and loss account
  
(24,079)
(35,111)

  
26,000
14,968


Page 1

 
CHC DIGITAL LIMITED
REGISTERED NUMBER: 08833313
    
STATEMENT OF FINANCIAL POSITION (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 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: 




H Williams
Director

Date: 6 February 2025

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

Page 2

 
CHC DIGITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

CHC Digital Limited is a private company, limited by shares, registered in England and Wales. The Company's registered office address is 7 Bell Yard, London, WC2A 2JR.
The principal activity of the Company is that of digital marketing and website 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 financial statements have been prepared in pounds sterling, the functional currency, rounded to the nearest £1.

The following principal accounting policies have been applied:

 
2.2

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.

 
2.3

Interest income

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

 
2.4

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.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
CHC DIGITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

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 reporting 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 reporting 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 reporting date.


 
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.

Depreciation is provided on the following basis:

Office equipment
-
25% reducing balance
Computer equipment
-
25% reducing balance / 2 year 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 4

 
CHC DIGITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

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

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 5

 
CHC DIGITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
5,834
4,168
10,002



At 31 December 2023

5,834
4,168
10,002



Depreciation


At 1 January 2023
4,230
4,036
8,266


Charge for the year
401
32
433



At 31 December 2023

4,631
4,068
8,699



Net book value



At 31 December 2023
1,203
100
1,303



At 31 December 2022
1,604
132
1,736

Page 6

 
CHC DIGITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
28,300
16,064

Other debtors
18,932
20,992

47,232
37,056



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
906
486



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
3,996
3,998

Corporation tax
5,412
-

Other taxation and social security
4,913
7,132

Accruals and deferred income
2,850
2,850

17,171
13,980


The following liabilities were secured:

2023
2022
£
£



Bank loans
3,996
3,998

Details of security provided:

The bank loan is secured by the government as part of a Coronavirus Business Interruption Loan Scheme (CBILS).

Page 7

 
CHC DIGITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
6,000
10,000


The following liabilities were secured:

2023
2022
£
£



Bank loans
6,000
10,000

Details of security provided:

The bank loan is secured by the government as part of a Coronavirus Business Interruption Loan Scheme (CBILS).


9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
3,996
3,998

Amounts falling due 1-2 years

Bank loans
4,000
4,000

Amounts falling due 2-5 years

Bank loans
2,000
6,000


9,996
13,998


Page 8

 
CHC DIGITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Deferred taxation




31 December 2023
31 December 2022


£

£






At beginning of year
(330)
(406)


Charged to profit or loss
60
76



At end of year
(270)
(330)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(270)
(330)


11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 Ordinary shares of £1.00 each
100
100
1 Ordinary A share of £1.00
1
1
1 Ordinary B share of £1.00
1
1
1 Ordinary C share of £1.00
1
1
1 Ordinary D share of £1.00
1
1

104

104



12.


Transactions with directors

At the year end, a balance of £14,125 (2023: £17,490) was owed by the director to the Company. Interest of £339 (2023: £327) has been charged on the overdrawn balance. The loan is unsecured and payable on demand.


13.


Ultimate controlling party

The ultimate controlling party is the director H Williams by virtue of his majority shareholding throughout the current and previous year.

 
Page 9