Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-07-01falseNo description of principal activity07truetrue 10826954 2023-07-01 2024-06-30 10826954 2022-07-01 2023-06-30 10826954 2024-06-30 10826954 2023-06-30 10826954 c:Director3 2023-07-01 2024-06-30 10826954 c:Director4 2023-07-01 2024-06-30 10826954 c:RegisteredOffice 2023-07-01 2024-06-30 10826954 d:ComputerEquipment 2023-07-01 2024-06-30 10826954 d:ComputerEquipment 2024-06-30 10826954 d:ComputerEquipment 2023-06-30 10826954 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 10826954 d:CurrentFinancialInstruments 2024-06-30 10826954 d:CurrentFinancialInstruments 2023-06-30 10826954 d:Non-currentFinancialInstruments 2024-06-30 10826954 d:Non-currentFinancialInstruments 2023-06-30 10826954 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 10826954 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 10826954 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 10826954 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 10826954 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-06-30 10826954 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-06-30 10826954 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-06-30 10826954 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-06-30 10826954 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-06-30 10826954 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-06-30 10826954 d:UKTax 2023-07-01 2024-06-30 10826954 d:UKTax 2022-07-01 2023-06-30 10826954 d:ShareCapital 2024-06-30 10826954 d:ShareCapital 2023-06-30 10826954 d:SharePremium 2024-06-30 10826954 d:SharePremium 2023-06-30 10826954 d:RetainedEarningsAccumulatedLosses 2024-06-30 10826954 d:RetainedEarningsAccumulatedLosses 2023-06-30 10826954 c:FRS102 2023-07-01 2024-06-30 10826954 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 10826954 c:FullAccounts 2023-07-01 2024-06-30 10826954 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 10826954 2 2023-07-01 2024-06-30 10826954 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 10826954









IKVA LIMITED








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

 
IKVA LIMITED
 
 
COMPANY INFORMATION


Directors
J Horden 
L Mooney 




Registered number
10826954



Registered office
Cambridge House
Camboro Business Park

Girton

Cambridge

CB3 0QH




Accountants
Lakin Rose Limited

Chartered Accountants

Cambridge House

Camboro Business Park

Girton

Cambridge

CB3 0QH





 
IKVA LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 8


 
IKVA LIMITED
REGISTERED NUMBER: 10826954

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
314
905

  
314
905

Current assets
  

Debtors: amounts falling due within one year
 6 
11,082
104,882

Cash at bank and in hand
  
57,528
103,649

  
68,610
208,531

Creditors: amounts falling due within one year
 7 
(361,584)
(368,957)

Net current liabilities
  
 
 
(292,974)
 
 
(160,426)

Total assets less current liabilities
  
(292,660)
(159,521)

Creditors: amounts falling due after more than one year
 8 
-
(20,051)

  

Net liabilities
  
(292,660)
(179,572)


Capital and reserves
  

Called up share capital 
  
3,178
3,178

Share premium account
  
1,608,220
1,608,220

Profit and loss account
  
(1,904,058)
(1,790,970)

  
(292,660)
(179,572)


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 comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
 
Page 1

 
IKVA LIMITED
REGISTERED NUMBER: 10826954
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 March 2025.

J Horden
Director

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

Page 2

 
IKVA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

The company is a private company limited by shares and is incorporated in England and Wales. The address of its registered office is Cambridge House, Camboro Business Park, Girton, Cambridge,         CB3 0QH.

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 financial statements have been prepared on the going concern basis which assumes that the company will continue as a going concern for the forseeable future. The validity of this assumption depends on the investors continuing to provide adequate financial support and by not seeking repayment of the amounts owed to them. The investors have indicated that they will continue to provide suppport to the company and therefore the directors believe it is appropriate to prepare the financial statements on the going concern basis.

 
2.3

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.

 
2.4

Research and development

Research and development expenditure is written off in the year in which it is incurred.

 
2.5

Interest income

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

Page 3

 
IKVA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.6

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.

 
2.7

Share-based payments

Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each balance sheet date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition.
The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the company keeping the scheme open or the employee maintaining any contributions required by the scheme).
Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period.
Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.

 
2.8

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.


Page 4

 
IKVA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
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.

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:

Computer equipment
-
33%
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 0 (2023 - 7).


4.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
(3,675)
(103,364)

Adjustments in respect of previous periods
(2,193)
-


Total current tax
(5,868)
(103,364)

Factors affecting tax charge for the year

The company has made tax losses during the year of £84,743 (2023 - £200,046) which have been carried forward to utilise against its future trading profits.


Factors that may affect future tax charges

The Company has tax losses of £988,527 (2023 - £903,784) which have been carried forward to utilise against its future trading profits. No deferred tax asset has been recognised for these losses as their recovery against future trading profits is uncertain. 

Page 5

 
IKVA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 July 2023
1,791



At 30 June 2024

1,791



Depreciation


At 1 July 2023
886


Charge for the year on owned assets
591



At 30 June 2024

1,477



Net book value



At 30 June 2024
314



At 30 June 2023
905


6.


Debtors

2024
2023
£
£


Trade debtors
1,140
1,140

Other debtors
6,176
-

Prepayments and accrued income
91
378

Tax recoverable
3,675
103,364

11,082
104,882


Page 6

 
IKVA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
-
2,886

Trade creditors
183
4,065

Other taxation and social security
-
6,655

Other creditors
352,500
352,500

Accruals and deferred income
8,901
2,851

361,584
368,957



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
-
20,051

-
20,051



9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
-
2,886

Amounts falling due 1-2 years

Bank loans
-
2,959

Amounts falling due 2-5 years

Bank loans
-
9,335

Amounts falling due after more than 5 years

Bank loans
-
7,757

-
22,937


Page 7

 
IKVA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

10.


Share-based payments

The company has provided EMI and non-EMI options to employees and directors. The options which have all vested have a fair value of £9.90.
The movements during the year were as follows:

Weighted average exercise price (pence)
2024
Number
2024
Weighted average exercise price
(pence)
2023
Number
2023

Outstanding at the beginning of the year


-

1
 
5,051
 
Granted during the year


-

1
 
60,870
 
Forfeited during the year


-

1
 
(21,347)
 
Exercised during the year


-

1
 
(44,574)
 
Outstanding at the end of the year

-

 
-
 





11.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £nil (2023 - £10,892). Contributions totalling £nil (2023 - £nil) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 8