Caseware UK (AP4) 2024.0.164 2024.0.164 2024-05-312024-05-311true2023-06-01falseNo description of principal activity1truefalse 13386760 2023-06-01 2024-05-31 13386760 2022-06-01 2023-05-31 13386760 2024-05-31 13386760 2023-05-31 13386760 2022-06-01 13386760 c:Director1 2023-06-01 2024-05-31 13386760 c:RegisteredOffice 2023-06-01 2024-05-31 13386760 d:ComputerEquipment 2023-06-01 2024-05-31 13386760 d:ComputerEquipment 2024-05-31 13386760 d:ComputerEquipment 2023-05-31 13386760 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 13386760 d:ComputerEquipment 1 2023-06-01 2024-05-31 13386760 d:CurrentFinancialInstruments 2024-05-31 13386760 d:CurrentFinancialInstruments 2023-05-31 13386760 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 13386760 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 13386760 d:ShareCapital 2024-05-31 13386760 d:ShareCapital 2023-05-31 13386760 d:ShareCapital 2022-06-01 13386760 d:RetainedEarningsAccumulatedLosses 2023-06-01 2024-05-31 13386760 d:RetainedEarningsAccumulatedLosses 2024-05-31 13386760 d:RetainedEarningsAccumulatedLosses 2022-06-01 2023-05-31 13386760 d:RetainedEarningsAccumulatedLosses 2023-05-31 13386760 d:RetainedEarningsAccumulatedLosses 2022-06-01 13386760 c:FRS102 2023-06-01 2024-05-31 13386760 c:Audited 2023-06-01 2024-05-31 13386760 c:FullAccounts 2023-06-01 2024-05-31 13386760 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 13386760 c:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 13386760 f:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Registered number: 13386760









XENTRAL ERP SOFTWARE LTD.









DIRECTORS REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

 
XENTRAL ERP SOFTWARE LTD.
 
 
COMPANY INFORMATION


Director
B Sauter 




Registered number
13386760



Registered office
5 New Street Square
London

United Kingdom

EC4A 3TW




Independent auditors
Ecovis Wingrave Yeats LLP

Chartered Accountants & Statutory Auditor

3rd Floor, Waverley House

7-12 Noel Street

London

W1F 8GQ





 
XENTRAL ERP SOFTWARE LTD.
 

CONTENTS



Page
Director's Report
 
1 - 2
Balance Sheet
 
3
Statement of Changes in Equity
 
4
Notes to the Financial Statements
 
5 - 10


 
XENTRAL ERP SOFTWARE LTD.
 
 
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 MAY 2024

The director presents his report and the financial statements for the year ended 31 May 2024.

Director

The director who served during the year was:

B Sauter 

Director's responsibilities statement

The director is responsible for preparing the Director's Report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the director is required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable him to ensure that the financial statements comply with the Companies Act 2006He is also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditors

The director at the time when this Director's Report is approved has confirmed that:
 
so far as  is aware, there is no relevant audit information of which the Company's auditors are unaware, and

 has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Page 1

 
XENTRAL ERP SOFTWARE LTD.
 
 
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024


Small companies note

In preparing this report, the director has taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board on 31 January 2025 and signed on its behalf.
 





B Sauter
Director

Page 2

 
XENTRAL ERP SOFTWARE LTD.
REGISTERED NUMBER:13386760

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
-
1,285

  
-
1,285

Current assets
  

Tangible assets
  
998
-

Debtors: amounts falling due within one year
 6 
10,692
4,289

Bank and cash
  
37,378
59,399

  
49,068
63,688

Creditors: amounts falling due within one year
 7 
(146,880)
(142,586)

Net current liabilities
  
 
 
(97,812)
 
 
(78,898)

Total assets less current liabilities
  
(97,812)
(77,613)

  

Net liabilities
  
(97,812)
(77,613)


Capital and reserves
  

Called up share capital 
8
42
42

Profit and loss account
  
(97,854)
(77,655)

  
(97,812)
(77,613)


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 on 31 January 2025.




B Sauter
Director

The notes on pages 5 to 10 form part of these financial statements.

Page 3

 
XENTRAL ERP SOFTWARE LTD.
 

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


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 June 2022
42
(24,925)
(24,883)


Comprehensive income for the year

Loss for the year
-
(52,730)
(52,730)



At 1 June 2023
42
(77,655)
(77,613)


Comprehensive income for the year

Loss for the year
-
(20,199)
(20,199)


At 31 May 2024
42
(97,854)
(97,812)


The notes on pages 5 to 10 form part of these financial statements.

Page 4

 
XENTRAL ERP SOFTWARE LTD.
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Xentral ERP Software Ltd. is a private company, limited by shares, incorporated in England and Wales, registration number 13386760. The registered office is 5 New Street Square, London, United Kingdom, EC4A 3TW.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

  
2.2

Going concern

It is the intention of the directors to wind up the entity within 12 months of signing the financial statements for the year ended 31 May 2024. As a result, these financial statements have been prepared on a break-up basis. The directors are satisfied that the financial statements are presented truly and fairly, and all assets and liabilities are valued appropriately, at the balance sheet date, considering the Company is not a going concern at the time of signing these financial statements.

 
2.3

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 5

 
XENTRAL ERP SOFTWARE LTD.
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

  
2.4

Taxation

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.

 
2.5

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 is generated through monthly subscriptions to customers and is recognised as the service is being provided.

 
2.6

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%
Using the 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.

On the final day of the period the decision was made that the accounts would be prepared on the break up basis. As required by financial standards Tangible fixed assets were revalued to their recoverable value and reclassified as current assets.

 
2.7

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.

Page 6

 
XENTRAL ERP SOFTWARE LTD.
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.8

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.

  
2.9

Financial Instruments

The Company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties, loans to related parties and investments in ordinary shares.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

Deferred tax asset
Management is required to assess whether it is appropriate to recognise a deferred tax asset relating to taxable losses available to the Company. The recognition of deferred tax assets is based upon whether it is more likely than not that sufficient and suitable taxable profits will be available in the future against which the reversal of losses and other deductions can be utilised. As the accounts are being prepared on a break up basis due to the voluntary liquidation of the company, management have concluded to not recognise a deferred tax asset. The losses carried forward, at the balance sheet date, amount to £99,511 (2023 - £77,655), however, it is unlikely that these will ever be utilised. 


4.


Employees

The Company has no employees other than the Director, who did not receive any remuneration.



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

Page 7

 
XENTRAL ERP SOFTWARE LTD.
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


Tangible fixed assets





Computer equipment

£





At 1 June 2023
1,490


Reclassified to held for sale
(1,490)



At 31 May 2024

-





At 1 June 2023
205


Charge for the year
287


Reclassified to held for sale
(492)



At 31 May 2024

-



Net book value



At 31 May 2024
-



At 31 May 2023
1,285

During the financial year, the company reclassified non-current tangible fixed assets to current assets. As a result, the value of non-current tangible fixed assets is now recorded as nil. This reclassification aligns with the company's decision to voluntarily liquidate and prepare these accounts on the break up basis.
The assets have been reclassified to current assets at their net book value and will be transferred to the parent company upon liquidation. The assets will continue to be held at their net book value unless evidence of impairment arises.

Page 8

 
XENTRAL ERP SOFTWARE LTD.
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

6.


Debtors

2024
2023
£
£


Other taxation and social security
9,555
3,968

Prepayments and accrued income
1,137
321

10,692
4,289



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
13,830
1,200

Amounts owed to group undertakings
118,050
113,636

Accruals
15,000
27,750

146,880
142,586


£118,050 (2023 - £110,306) of amounts owed to group undertakings are unsecured, repayable on demand and attracts interest at 7% per annum.
The remaining amounts owed to group undertakings is unsecured, interest free and repayable on demand.


8.


Share capital

2024
2023
£
£

Allotted called up and fully paid


50 ordinary shares of €1 each
42
42

All shares have attached to them full voting, dividend and capital distribution rights. They do not confer
any rights of redemption.


9.


Related party transactions

The Company has taken advantage of the exemption available under paragraph 33.1A of FRS 102 from
disclosing transactions with wholly owned members of the same group.

Page 9

 
XENTRAL ERP SOFTWARE LTD.
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

10.


Controlling party

The ultimate and immediate parent company company is Xentral ERP Software GmbH, a company incorporated in Germany. The results of the Company are consolidated into the parent financial statements, the registered address is Fuggerstraße 11, 86150 Augsburg, Germany.
The ultimate beneficial owners are Benedikt Sauter and Claudia Sauter.


11.


Auditors' information

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

The audit report was signed on 31 January 2025 by Sally Casson (Senior Statutory Auditor) on behalf of Ecovis Wingrave Yeats LLP.

 
Page 10