Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31trueNo description of principal activityThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-04-01false22truefalse 10999841 2023-04-01 2024-03-31 10999841 2022-04-01 2023-03-31 10999841 2024-03-31 10999841 2023-03-31 10999841 c:Director3 2023-04-01 2024-03-31 10999841 d:FurnitureFittings 2023-04-01 2024-03-31 10999841 d:FurnitureFittings 2024-03-31 10999841 d:FurnitureFittings 2023-03-31 10999841 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 10999841 d:OfficeEquipment 2023-04-01 2024-03-31 10999841 d:OfficeEquipment 2024-03-31 10999841 d:OfficeEquipment 2023-03-31 10999841 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 10999841 d:ComputerEquipment 2023-04-01 2024-03-31 10999841 d:ComputerEquipment 2024-03-31 10999841 d:ComputerEquipment 2023-03-31 10999841 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 10999841 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 10999841 d:CurrentFinancialInstruments 2024-03-31 10999841 d:CurrentFinancialInstruments 2023-03-31 10999841 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 10999841 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10999841 d:ShareCapital 2024-03-31 10999841 d:ShareCapital 2023-03-31 10999841 d:RetainedEarningsAccumulatedLosses 2024-03-31 10999841 d:RetainedEarningsAccumulatedLosses 2023-03-31 10999841 c:FRS102 2023-04-01 2024-03-31 10999841 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 10999841 c:FullAccounts 2023-04-01 2024-03-31 10999841 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10999841 2 2023-04-01 2024-03-31 10999841 6 2023-04-01 2024-03-31 10999841 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 10999841 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 10999841 d:TaxLossesCarry-forwardsDeferredTax 2024-03-31 10999841 d:TaxLossesCarry-forwardsDeferredTax 2023-03-31 10999841 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 10999841










ICOM DIGITAL LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
ICOM DIGITAL LIMITED
REGISTERED NUMBER: 10999841

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,772
2,548

Investments
 5 
117,585
165,506

  
120,357
168,054

Current assets
  

Debtors: amounts falling due within one year
 6 
34,959
-

Cash at bank and in hand
  
52,377
46,937

  
87,336
46,937

Creditors: amounts falling due within one year
 7 
(5,087)
(10,146)

Net current assets
  
 
 
82,249
 
 
36,791

Total assets less current liabilities
  
202,606
204,845

Provisions for liabilities
  

Deferred tax
 8 
-
(30)

  
 
 
-
 
 
(30)

Net assets
  
202,606
204,815


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
202,506
204,715

  
202,606
204,815


Page 1

 
ICOM DIGITAL LIMITED
REGISTERED NUMBER: 10999841
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 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 on 24 March 2025.




R W Taylor
Director

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

Page 2

 
ICOM DIGITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The company, which was incorporated and registered in England and Wales (registered number -10999841) is a privately owned company limited by shares. The registered office address is Wey Court
West, Union Road, Farnham, Surrey, GU9 7PT.

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

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
15%
Reducing balance
Office equipment
-
15%
Reducing balance
Computer equipment
-
15%
Reducing balance

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.

 
2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Page 3

 
ICOM DIGITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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.

 
2.6

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.

 
2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.8

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 Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 4

 
ICOM DIGITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Interest income

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

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

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



3.


Employees

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

Page 5

 
ICOM DIGITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2023
330
283
2,625
3,238


Additions
-
-
649
649



At 31 March 2024

330
283
3,274
3,887



Depreciation


At 1 April 2023
188
59
445
692


Charge for the year on owned assets
21
34
368
423



At 31 March 2024

209
93
813
1,115



Net book value



At 31 March 2024
121
190
2,461
2,772



At 31 March 2023
142
224
2,181
2,547


5.


Fixed asset investments





Listed investments

£



Cost or valuation


At 1 April 2023
165,506


Disposals
(55,804)


Revaluations
7,883



At 31 March 2024
117,585




Page 6

 
ICOM DIGITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Debtors

2024
2023
£
£


Other debtors
32,510
-

Deferred taxation
2,449
-

34,959
-


Included within other debtors due within one year is a loan to G Linwood, director, amounting to £32,510 (2023 - £NIL). Amounts repaid during the year totalled £NIL. The loan was repaid in full after the year end.
The main conditions were as follows:

*The loan was interest free
*The loan was repayable on demand


7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
276
276

Other creditors
-
7,901

Accruals and deferred income
4,811
1,969

5,087
10,146



8.


Deferred taxation




2024


£






At beginning of year
(30)


Charged to profit or loss
2,479



At end of year
2,449

Page 7

 
ICOM DIGITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
 
8.Deferred taxation (continued)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(20)
(30)

Tax losses carried forward
2,469
-

2,449
(30)

 
Page 8