Caseware UK (AP4) 2024.0.164 2024.0.164 2023-12-312023-12-313false2023-01-01falsemarketing of technological solution I-smartframe3trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12427440 2023-01-01 2023-12-31 12427440 2022-01-01 2022-12-31 12427440 2023-12-31 12427440 2022-12-31 12427440 c:Director1 2023-01-01 2023-12-31 12427440 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 12427440 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 12427440 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 12427440 d:CurrentFinancialInstruments 2023-12-31 12427440 d:CurrentFinancialInstruments 2022-12-31 12427440 d:Non-currentFinancialInstruments 2023-12-31 12427440 d:Non-currentFinancialInstruments 2022-12-31 12427440 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 12427440 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 12427440 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 12427440 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 12427440 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 12427440 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 12427440 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 12427440 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 12427440 d:ShareCapital 2023-12-31 12427440 d:ShareCapital 2022-12-31 12427440 d:RetainedEarningsAccumulatedLosses 2023-12-31 12427440 d:RetainedEarningsAccumulatedLosses 2022-12-31 12427440 c:FRS102 2023-01-01 2023-12-31 12427440 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 12427440 c:FullAccounts 2023-01-01 2023-12-31 12427440 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12427440 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 12427440 2 2023-01-01 2023-12-31 12427440 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-01-01 2023-12-31 12427440 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 12427440









ARITMETIKA LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
ARITMETIKA LTD
REGISTERED NUMBER: 12427440

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
486,604
126,624

Current assets
  

Debtors: amounts falling due within one year
 5 
105,887
156,284

Cash at bank and in hand
 6 
1,947
45,472

  
107,834
201,756

Creditors: amounts falling due within one year
 7 
(554,284)
(275,284)

Net current liabilities
  
 
 
(446,450)
 
 
(73,528)

Total assets less current liabilities
  
40,154
53,096

Creditors: amounts falling due after more than one year
 8 
(10,125)
(17,058)

Net assets
  
30,029
36,038


Capital and reserves
  

Called up share capital 
  
10,000
10,000

Profit and loss account
  
20,029
26,038

  
30,029
36,038


Page 1

 
ARITMETIKA LTD
REGISTERED NUMBER: 12427440
    
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 and authorised for issue by the board and were signed on its behalf by: 

................................................
G Fiocchi
Director
Date: 3 March 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

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

1.


General information

Aritmetika Ltd ("the Company") is a company incorporated in the United Kingdom under the Companies Act. The Company is a private company limited by shares and is registered in England and Wales. The Company's registered office is Suite 4, 7th Floor 50 Broadway, London, United Kingdom, SW1H 0DB.
The principal activity of the company in the year under review was the marketing of the technological solution I-smartframe that is located within the Digital Marketing market, focusing on the optimization of the performance of websites.

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

The company meets its day-to-day working capital requirements through its bank facilities. At the balance sheet date the Company has net current liabilities of £446,450, however the directors have prepared forecasts and projections and believe that the Company should be able to operate within the level of its current facilitates for the foreseeable future.
 
After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP and the financial statements are rounded to the nearest £.

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.

Page 3

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

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

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.

 
2.6

Interest income

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

Page 4

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

2.Accounting policies (continued)

 
2.7

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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet 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 balance sheet date.


 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Development expenditure
-
5
years

 
2.9

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.

 
2.10

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 5

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

2.Accounting policies (continued)

 
2.11

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 3 (2022 - 3).


4.


Intangible assets




Development expenditure

£



Cost


At 1 January 2023
177,284


Additions
444,492


Disposals
(7,706)


Foreign exchange movement
(11,814)



At 31 December 2023

602,256



Amortisation


At 1 January 2023
50,660


Charge for the year on owned assets
68,368


Foreign exchange movement
(3,376)



At 31 December 2023

115,652



Net book value



At 31 December 2023
486,604



At 31 December 2022
126,624



Page 6

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

5.


Debtors

2023
2022
£
£


Trade debtors
50,649
105,326

Other debtors
5,699
6,378

Prepayments and accrued income
49,539
44,580

105,887
156,284



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,947
45,472

Less: bank overdraft
(21,021)
-



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
21,021
-

Bank loans
6,321
6,717

Trade creditors
89,356
124,255

Corporation tax
18,362
6,489

Other taxation and social security
161,280
119,924

Other creditors
5,842
652

Accruals and deferred income
252,102
17,247

554,284
275,284



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
10,125
17,058


Page 7

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

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
6,321
6,717

Amounts falling due 1-2 years

Bank loans
6,378
6,777

Amounts falling due 2-5 years

Bank loans
3,747
10,281


16,446
23,775



10.


Commitments under operating leases

The Company had no commitments under non-cancellable operating leases at the balance sheet date.


11.


Controlling party

The ultimate controlling party is Compagnia Fiduciaria Nazionale Spa, a trust incorporated in Italy.  The trust's registered office is Galleria de Cristoforis 0003, 20122 Milano, Italy.

 
Page 8