Caseware UK (AP4) 2024.0.164 2024.0.164 2024-03-312024-03-31false2023-04-01falseNo description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12264653 2023-04-01 2024-03-31 12264653 2022-04-01 2023-03-31 12264653 2024-03-31 12264653 2023-03-31 12264653 c:Director1 2023-04-01 2024-03-31 12264653 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-03-31 12264653 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-31 12264653 d:CurrentFinancialInstruments 2024-03-31 12264653 d:CurrentFinancialInstruments 2023-03-31 12264653 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 12264653 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 12264653 d:ShareCapital 2024-03-31 12264653 d:ShareCapital 2023-03-31 12264653 d:RetainedEarningsAccumulatedLosses 2024-03-31 12264653 d:RetainedEarningsAccumulatedLosses 2023-03-31 12264653 c:FRS102 2023-04-01 2024-03-31 12264653 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 12264653 c:FullAccounts 2023-04-01 2024-03-31 12264653 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12264653 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:InternallyGeneratedIntangibleAssets 2023-04-01 2024-03-31 12264653 2 2023-04-01 2024-03-31 12264653 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-04-01 2024-03-31 12264653 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: 12264653












UTOPIA EV LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MARCH 2024

 
UTOPIA EV LIMITED
 

CONTENTS



Page
Balance Sheet
 
 
1
Notes to the Financial Statements
 
 
2 - 5


 
UTOPIA EV LIMITED
REGISTERED NUMBER: 12264653

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
188,222
212,099

  
188,222
212,099

Current assets
  

Debtors: amounts falling due within one year
 5 
9,981
12,249

Cash at bank and in hand
  
44,736
16,624

  
54,717
28,873

Creditors: amounts falling due within one year
 6 
(355,360)
(296,489)

Net current liabilities
  
 
 
(300,643)
 
 
(267,616)

  

Net liabilities
  
(112,421)
(55,517)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(112,422)
(55,518)

  
(112,421)
(55,517)


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 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: 




P. Wainman
Director

Date: 22 March 2025

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
UTOPIA EV LIMITED
 

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

1.


General information

Utopia EV Limited (company number: 12264653), having its registered office at 1a St John's Wood Park, Suite 1, London, NW8 6QS, is a private limited company incorporated in England and Wales.
The functional and presentational currency is considered to be Pound Sterling (£).

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and  Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

For the year ended 31 March 2024 the Company made a loss of £57,252 (2023: £33,133) and as at 31 March 2024 had net liabilities at that date of £112,421 (2023: £55,517) with cash reserves of £44,736 (2023: £16,624).
The financial statements have been prepared on a going concern basis which is based on the directors' understanding that the company's immediate parent company will continue to provide financial support to the company, by derferment of the amounts due to them or by other means.
The directors have assessed the company's ability to continue as a going concern and are satisfied that there are no material uncertainties that would cast significant doubt on the company's ability to continue in operation for the foreseeable future for at least 12 months from the date of the financial statements are approved.

 
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.
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

Interest income

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

 
2.5

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.

Page 2

 
UTOPIA EV LIMITED
 

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

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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. 

 
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 and loans to related parties.
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or otherconsideration expected to be paid or received.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.10

Taxation

Tax is recognised in the Statement of Income and Retained Earnings.

The current corporation 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.



3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 3

 
UTOPIA EV LIMITED
 

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

4.


Intangible assets




Development expenditure

£



Cost


At 1 April 2023
311,803


Additions
8,082



At 31 March 2024

319,885



Amortisation


At 1 April 2023
99,704


Charge for the year on owned assets
31,959



At 31 March 2024

131,663



Net book value



At 31 March 2024
188,222



At 31 March 2023
212,099




5.


Debtors

2024
2023
£
£

Due within one year

Other debtors
9,811
12,089

Prepayments and accrued income
170
160

9,981
12,249


Page 4

 
UTOPIA EV LIMITED
 

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

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
331
16,370

Amounts owed to group undertakings
190,196
124,125

Other creditors
159,023
153,391

Accruals and deferred income
5,810
2,603

355,360
296,489



7.


Related party transactions

Included within other creditors is £159,023 (2023: £153,391) owed to one of the directors of the company.
The company has taken advantage of Section 33.1A of FRS102 in not disclosing transactions between wholly-owned members of a group.


8.


Controlling party

The immediate and ultimate parent company is Utopia Records Limited, a company registered in England and Wales. The address of its registered office is 1a St John's Wood Park, Suite 1, London, NW8 6QS.


Page 5