Caseware UK (AP4) 2023.0.135 2023.0.135 2024-12-312024-12-312024-01-01falseNo description of principal activity1919truetruefalse 11200357 2024-01-01 2024-12-31 11200357 2023-01-01 2023-12-31 11200357 2024-12-31 11200357 2023-12-31 11200357 2023-01-01 11200357 c:Director1 2024-01-01 2024-12-31 11200357 c:RegisteredOffice 2024-01-01 2024-12-31 11200357 d:Buildings d:ShortLeaseholdAssets 2024-01-01 2024-12-31 11200357 d:Buildings d:ShortLeaseholdAssets 2024-12-31 11200357 d:Buildings d:ShortLeaseholdAssets 2023-12-31 11200357 d:OfficeEquipment 2024-01-01 2024-12-31 11200357 d:OfficeEquipment 2024-12-31 11200357 d:OfficeEquipment 2023-12-31 11200357 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 11200357 d:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 11200357 d:OtherPropertyPlantEquipment 2024-12-31 11200357 d:OtherPropertyPlantEquipment 2023-12-31 11200357 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 11200357 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 11200357 d:CurrentFinancialInstruments 2024-12-31 11200357 d:CurrentFinancialInstruments 2023-12-31 11200357 d:Non-currentFinancialInstruments 2024-12-31 11200357 d:Non-currentFinancialInstruments 2023-12-31 11200357 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 11200357 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11200357 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 11200357 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 11200357 d:ShareCapital 2024-12-31 11200357 d:ShareCapital 2023-12-31 11200357 d:ShareCapital 2023-01-01 11200357 d:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 11200357 d:RetainedEarningsAccumulatedLosses 2024-12-31 11200357 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 11200357 d:RetainedEarningsAccumulatedLosses 2023-12-31 11200357 d:RetainedEarningsAccumulatedLosses 2023-01-01 11200357 c:FRS102 2024-01-01 2024-12-31 11200357 c:Audited 2024-01-01 2024-12-31 11200357 c:FullAccounts 2024-01-01 2024-12-31 11200357 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 11200357 c:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 11200357 2 2024-01-01 2024-12-31 11200357 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 11200357









INTRATONE UK LTD









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
INTRATONE UK LTD
 
 
COMPANY INFORMATION


Director
R P Leclerc 




Registered number
11200357



Registered office
Power Road Studios
114 Power Road Studios

Chiswick

London

W4 5PY




Independent auditor
Adler Shine LLP
Chartered Accountants and Statutory Auditor

Aston House

Cornwall Avenue

London

N3 1LF





 
INTRATONE UK LTD
REGISTERED NUMBER: 11200357

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible fixed assets
  
154,381
167,793

  
154,381
167,793

Current assets
  

Stocks
 5 
-
8,452

Debtors: amounts falling due after more than one year
 6 
49,332
49,332

Debtors: amounts falling due within one year
 6 
1,168,453
2,080,679

Cash at bank and in hand
 7 
172,205
332,179

  
1,389,990
2,470,642

Creditors: amounts falling due within one year
 8 
(7,167,132)
(9,058,145)

Net current liabilities
  
 
 
(5,777,142)
 
 
(6,587,503)

Total assets less current liabilities
  
(5,622,761)
(6,419,710)

Creditors: amounts falling due after more than one year
 9 
(1,936,935)
(1,256,016)

  

Net liabilities
  
(7,559,696)
(7,675,726)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(7,559,796)
(7,675,826)

  
(7,559,696)
(7,675,726)


Page 1

 
INTRATONE UK LTD
REGISTERED NUMBER: 11200357
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 11 March 2025.




R P Leclerc
Director

The notes on pages 4 to 11 form part of these financial statements.

Page 2

 
INTRATONE UK LTD
 

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


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 January 2023
100
(7,606,112)
(7,606,012)


Comprehensive income for the year

Loss for the year
-
(69,714)
(69,714)



At 1 January 2024
100
(7,675,826)
(7,675,726)


Comprehensive income for the year

Profit for the year
-
116,030
116,030


At 31 December 2024
100
(7,559,796)
(7,559,696)


The notes on pages 4 to 11 form part of these financial statements.

Page 3

 
INTRATONE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Intratone UK Ltd is a company limited by shares incorporated in England and Wales. The registered office is Power Road Studios, 114 Power Road Studios, Chiswick, London, W4 5PY. The principal activity of the Company is that of the wholesale of electronic and telecommunications equipment.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

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

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis which assumes that the Company will be able to continue trading for the foreseeable future. 
The Company has net liabilities of £7,559,656 (2023 - £6,577,836) at the balance sheet date. The main form of funding for the Company’s operations is through loans from its group totalling £6,289,532 (2023: £8,641,535) included in current liabilities. Had these loans been treated as equity, the Company would have net liabilities of £1,270,124 (2023: net assets £2,063,699). 
The Group has stated that it intends, without creating a contractual obligation, to provide such support as may be necessary to the Company, and confirmed the Group’s commitment to provide funds to meet ongoing expenses for at least 12 months from the date of approval of the financial statements.
The director is therefore satisfied that the going concern basis is appropriate for the preparation of these financial statements.

Page 4

 
INTRATONE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
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 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'.

 
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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Page 5

 
INTRATONE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Interest income

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

 
2.7

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.

 
2.8

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.

 
2.9

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.

Page 6

 
INTRATONE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

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:

Short-term leasehold property
-
Over lease term
Office equipment
-
3 years straight line
Demo stocks & Equipment
-
3 - 5 years 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.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

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.

 
2.12

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.

 
2.13

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.

Page 7

 
INTRATONE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

3.


Employees

The average monthly number of employees, including the director, during the year was as follows:


        2024
        2023
            No.
            No.







Staff
19
19


4.


Tangible fixed assets





Short-term leasehold property
Office equipment
Demo Stock &  Equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2024
137,843
32,675
378,138
548,656


Additions
-
2,195
65,203
67,398


Disposals
-
-
(1,655)
(1,655)



At 31 December 2024

137,843
34,870
441,686
614,399



Depreciation


At 1 January 2024
126,538
23,141
231,184
380,863


Charge for the year on owned assets
5,506
5,703
67,946
79,155



At 31 December 2024

132,044
28,844
299,130
460,018



Net book value



At 31 December 2024
5,799
6,026
142,556
154,381



At 31 December 2023
11,305
9,534
146,954
167,793

Page 8

 
INTRATONE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Stocks

2024
2023
£
£

Finished goods and goods for resale
-
8,452

-
8,452


Stock recognised in cost of sales during the year as an expense was £2,098,285 (2023 - £1,318,665).


6.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
49,332
49,332

49,332
49,332


2024
2023
£
£

Due within one year

Trade debtors
895,650
367,121

Amounts owed by group undertakings
-
1,475,469

Other debtors
10,192
8,401

Prepayments and accrued income
262,611
229,688

1,168,453
2,080,679



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
172,205
332,179

172,205
332,179


Page 9

 
INTRATONE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
254,549
60,926

Amounts owed to group undertakings
6,289,532
8,641,535

Other taxation and social security
217,270
128,160

Other creditors
15,634
12,479

Accruals and deferred income
390,147
215,045

7,167,132
9,058,145



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Accruals and deferred income
1,936,935
1,256,016

1,936,935
1,256,016


The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:

2024
2023
£
£


Later than 1 year and not later than 2 years
181,868
121,760

Later than 2 years and not later than 5 years
526,446
351,709

Later than 5 years
1,228,621
782,547

1,936,935
1,256,016

The above amounts relate to long term deferred income on service contracts with customers.


10.


Related party transactions

The Company has taken advantage of exemptions available in FRS102 whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary of the Group.


11.


Controlling party

The Company is under the control of Cogelec S.A., a company which is incorporated in France. The accounts of the Company are included in the consolidated financial statements of Cogelec S.A., copies of which can be obtained at cogelec.fr/en/investors/documentations.

Page 10

 
INTRATONE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

12.


Auditors' information

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

The audit report was signed on 13 March 2025 by Sonia Yeshin (Senior Statutory Auditor) on behalf of Adler Shine LLP.

 
Page 11