Caseware UK (AP4) 2023.0.135 2023.0.135 2024-12-312024-12-312024-01-01falseNo description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08733662 2024-01-01 2024-12-31 08733662 2023-01-01 2023-12-31 08733662 2024-12-31 08733662 2023-12-31 08733662 c:Director1 2024-01-01 2024-12-31 08733662 c:RegisteredOffice 2024-01-01 2024-12-31 08733662 d:FurnitureFittings 2024-01-01 2024-12-31 08733662 d:FurnitureFittings 2024-12-31 08733662 d:FurnitureFittings 2023-12-31 08733662 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 08733662 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 08733662 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-12-31 08733662 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 08733662 d:CurrentFinancialInstruments 2024-12-31 08733662 d:CurrentFinancialInstruments 2023-12-31 08733662 d:Non-currentFinancialInstruments 2024-12-31 08733662 d:Non-currentFinancialInstruments 2023-12-31 08733662 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 08733662 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 08733662 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 08733662 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 08733662 d:ShareCapital 2024-12-31 08733662 d:ShareCapital 2023-12-31 08733662 d:RetainedEarningsAccumulatedLosses 2024-12-31 08733662 d:RetainedEarningsAccumulatedLosses 2023-12-31 08733662 c:FRS102 2024-01-01 2024-12-31 08733662 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 08733662 c:FullAccounts 2024-01-01 2024-12-31 08733662 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 08733662 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2024-01-01 2024-12-31 08733662 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2024-01-01 2024-12-31 08733662 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure
Company registration number: 08733662







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024


COMPOSIDE LIMITED






































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COMPOSIDE LIMITED
 


 
COMPANY INFORMATION


Director
Julien Sellier 




Registered number
08733662



Registered office
New Kings Court
Tollgate

Chandler's Ford

Eastleigh

Hampshire

SO53 3LG




Accountants
Menzies LLP
Chartered Accountants

3000a Parkway

Whiteley

Hampshire

PO15 7FX





 


COMPOSIDE LIMITED
REGISTERED NUMBER:08733662



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
240,914
253,293

Tangible assets
 5 
87
116

  
241,001
253,409

Current assets
  

Debtors: amounts falling due within one year
 6 
13,406
17,699

Cash at bank and in hand
  
870
7,283

  
14,276
24,982

Creditors: amounts falling due within one year
 7 
(1,227,026)
(1,191,442)

Net current liabilities
  
 
 
(1,212,750)
 
 
(1,166,460)

Total assets less current liabilities
  
(971,749)
(913,051)

Creditors: amounts falling due after more than one year
 8 
(625)
(1,875)

  

Net liabilities
  
(972,374)
(914,926)

Page 1

 


COMPOSIDE LIMITED
REGISTERED NUMBER:08733662


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024

2024
2023
£
£

Capital and reserves
  

Called up share capital 
  
8
8

Profit and loss account
  
(972,382)
(914,934)

  
(972,374)
(914,926)


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 income and retained earnings 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: 






Julien Sellier
Director

Date: 10 March 2025

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

 


COMPOSIDE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Composide Limited is a private company, limited by shares, incorporated in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
The presentation currency in these financial statements is GBP rounded to the nearest £1.

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

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

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.

 
2.4

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

 


COMPOSIDE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.6

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 reporting date in the countries where the Company operates and generates income.


 
2.7

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:

Research and development expenditure
-
20
% Reducing Balance

 
2.8

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:

Fixtures and fittings
-
25%
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.


3.


Employees

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

Page 4

 


COMPOSIDE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Intangible assets




Research and development

£



Cost


At 1 January 2024
840,319


Additions
47,850



At 31 December 2024

888,169



Amortisation


At 1 January 2024
587,026


Charge for the year on owned assets
60,229



At 31 December 2024

647,255



Net book value



At 31 December 2024
240,914



At 31 December 2023
253,293



Page 5

 


COMPOSIDE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 January 2024
1,282



At 31 December 2024

1,282



Depreciation


At 1 January 2024
1,166


Charge for the year on owned assets
29



At 31 December 2024

1,195



Net book value



At 31 December 2024
87



At 31 December 2023
116

Page 6

 


COMPOSIDE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
6,629
4,587

Other debtors
523
831

Prepayments and accrued income
499
492

Tax recoverable
5,755
11,789

13,406
17,699



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
1,250
1,250

Trade creditors
9,839
10,850

Amounts owed to group undertakings
1,199,879
1,145,177

Other creditors
832
606

Accruals and deferred income
15,226
33,559

1,227,026
1,191,442



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
625
1,875

625
1,875



9.


Going Concern

At the balance sheet date, the company's liabilities exceeded the assets. Structeam Holdings Limited will continue to support the company and will not drawdown their loan until the company is in a position to repay them. Therefore the directors have chosen to prepare the financial statements on a going concern basis.
Page 7