Caseware UK (AP4) 2023.0.135 2023.0.135 2024-12-312024-12-31false2024-01-01Provision of self-development and educational services dedicated to supporting the mental wellbeing of individuals, corporate teams and wider communities.66truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 13037555 2024-01-01 2024-12-31 13037555 2023-01-01 2023-12-31 13037555 2024-12-31 13037555 2023-12-31 13037555 c:Director1 2024-01-01 2024-12-31 13037555 d:ComputerEquipment 2024-01-01 2024-12-31 13037555 d:ComputerEquipment 2024-12-31 13037555 d:ComputerEquipment 2023-12-31 13037555 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 13037555 d:CurrentFinancialInstruments 2024-12-31 13037555 d:CurrentFinancialInstruments 2023-12-31 13037555 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 13037555 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 13037555 d:ShareCapital 2024-12-31 13037555 d:ShareCapital 2023-12-31 13037555 d:RetainedEarningsAccumulatedLosses 2024-12-31 13037555 d:RetainedEarningsAccumulatedLosses 2023-12-31 13037555 c:FRS102 2024-01-01 2024-12-31 13037555 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 13037555 c:FullAccounts 2024-01-01 2024-12-31 13037555 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 13037555 2 2024-01-01 2024-12-31 13037555 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 13037555










SARSEN CONNECT LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
SARSEN CONNECT LIMITED
REGISTERED NUMBER: 13037555

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
313

  
-
313

Current assets
  

Debtors: amounts falling due within one year
 5 
1,713
22,931

Cash at bank and in hand
 6 
1,924
184,292

  
3,637
207,223

Creditors: amounts falling due within one year
 7 
(2,066,741)
(2,088,017)

Net current liabilities
  
 
 
(2,063,104)
 
 
(1,880,794)

Total assets less current liabilities
  
(2,063,104)
(1,880,481)

  

Net liabilities
  
(2,063,104)
(1,880,481)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(2,063,204)
(1,880,581)

  
(2,063,104)
(1,880,481)

Page 1

 
SARSEN CONNECT LIMITED
REGISTERED NUMBER: 13037555
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider 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 directors acknowledge their 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 and authorised for issue by the board and were signed on its behalf by: 




G B Hughes
Director

Date: 24 February 2025

The notes on pages 3 to 7 form part of these financial statements.
Page 2

 
SARSEN CONNECT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Sarsen Connect Limited is a private company limited by shares and incorporated in England and Wales. The registered office address is 14th Floor, 33 Cavendish Square, London, United Kingdom, W1G 0PW.

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

During the year the company ceased to trade and given the insolvent position of the company the financial statements have been prepared on a basis other than that of the going concern basis. This basis includes, where applicable, writing the company’s assets down to net realisable value. Provisions have also been made in respect of contracts which have become onerous at the reporting date. No provision has been made for the future costs of terminating the business unless such costs were committed at the reporting date.

 
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 Profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
SARSEN CONNECT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 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:

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.

 
2.5

Interest income

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

 
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

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.

 
2.8

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.


Page 4

 
SARSEN CONNECT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.9

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
-
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.

 
2.10

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.

 
2.11

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.

 
2.12

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.


3.


Employees

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

Page 5

 
SARSEN CONNECT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Tangible fixed assets





Computer equipment

£



Cost


At 1 January 2024
988


Disposals
(988)



At 31 December 2024

-





At 1 January 2024
675


Charge for the year
313


Disposals
(988)



At 31 December 2024

-



Net book value



At 31 December 2024
-



At 31 December 2023
313


5.


Debtors

2024
2023
£
£


Trade debtors
-
9,936

Other debtors
1,713
8,995

Prepayments and accrued income
-
4,000

1,713
22,931



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,924
184,292


Page 6

 
SARSEN CONNECT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
3,960
10,895

Amounts owed to group undertakings
1,856,900
1,856,900

Other taxation and social security
-
12,454

Other creditors
200,881
201,518

Accruals and deferred income
5,000
6,250

2,066,741
2,088,017



8.


Contingent liabilities

The company is subject to an ongoing HMRC enquiry into historic research and development tax claims.
The claim is currently being appealed and is subject to review by HMRC solicitor offices. Should the
outcome of the claim be unsuccessful then the company’s additional liability will be £139,537 (excluding any potential interest charges).


9.


Pension commitments

The Company operates a defined contributions 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 £1,221 (2023 - £4,134).


10.


Related party transactions

Within others creditors due within one year is £200,094 (2023 - £200,094) owed to a former director. These amounts are non-interest bearing and repayable on demand.

 
Page 7