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Registered number: 07547020









Kalaam Global Limited









Financial statements

Information for filing with the registrar

For the year ended 31 December 2024

 
Kalaam Global Limited
Registered number: 07547020

Balance sheet
As at 31 December 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
43,537
61,289

Current assets
  

Debtors: amounts falling due within one year
 5 
760,975
626,941

Cash at bank and in hand
 6 
26,867
131,961

  
787,842
758,902

Creditors: amounts falling due within one year
 7 
(380,577)
(406,727)

Net current assets
  
 
 
407,265
 
 
352,175

Total assets less current liabilities
  
450,802
413,464

Provisions for liabilities
  

Deferred tax
  
(5,382)
(6,314)

Net assets
  
445,420
407,150


Capital and reserves
  

Called up share capital 
  
150,000
150,000

Profit and loss account
  
295,420
257,150

  
445,420
407,150


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.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




N Alsaie
Director
Date: 25 March 2025

Page 1

 
Kalaam Global Limited
 
 
 
Notes to the financial statements
For the year ended 31 December 2024

1.


General information

Kalaam Global Limited is a private company limited by share capital and incorporated in England. The company number is 07547020. The registered office address and the principal place of business is 1 Park Row, Leeds, LS1 5AB.

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.

 
2.2

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 the profit and loss account.

Foreign exchange gains and losses are presented in the profit and loss account within 'administrative expenses'.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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 2

 
Kalaam Global Limited
 
 
 
Notes to the financial statements
For the year ended 31 December 2024

2.Accounting policies (continued)

 
2.4

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 balance sheet 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 balance sheet 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 balance sheet date.

 
2.5

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.

The estimated useful lives range as follows:

Network equipment
-
20-25% 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.

 
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.

Page 3

 
Kalaam Global Limited
 
 
 
Notes to the financial statements
For the year ended 31 December 2024

2.Accounting policies (continued)

 
2.7

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.

 
2.8

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.

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment.
 

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities are classified according to the substance of the contractual arrangements entered into.

Page 4

 
Kalaam Global Limited
 
 
 
Notes to the financial statements
For the year ended 31 December 2024

2.Accounting policies (continued)


2.9
Financial instruments (continued)

Basic financial liabilities, which include trade and other payables, are initially measured at their transaction price after transaction costs.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 -4).

Page 5

 
Kalaam Global Limited
 
 
 
Notes to the financial statements
For the year ended 31 December 2024

4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 January 2024
266,165



At 31 December 2024

266,165



Depreciation


At 1 January 2024
204,876


Charge for the year
17,752



At 31 December 2024

222,628



Net book value



At 31 December 2024
43,537



At 31 December 2023
61,289


5.


Debtors

2024
2023
£
£

Trade debtors
533,109
366,902

Amounts owed by group undertakings
212,512
225,862

Other debtors
9,116
24,212

Prepayments and accrued income
6,238
9,965

760,975
626,941


Below is the ageing of trade debtors:
0 - 30 days:   £224,227   (2023: £134,487)
30 - 60 days:   £285,778   (2023: £174,438)
60 - 90 days:   £0   (2023: £2,878)
Over 90 days:  £23,104  (2023: £55,099)

Page 6

 
Kalaam Global Limited
 
 
 
Notes to the financial statements
For the year ended 31 December 2024

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
26,867
131,961



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
24,913
42,057

Amounts owed to group undertakings
229,630
286,877

Corporation tax
16,348
-

Other taxation and social security
89,057
57,293

Accruals and deferred income
20,629
20,500

380,577
406,727



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



150,000 (2023 -150,000) Ordinary shares of £1.00 each
150,000
150,000



9.


Auditors' information

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

The audit report was signed on 25 March 2025 by Anthony Woodings (Senior Statutory Auditor) on behalf of Hurst Accountants Limited.

 
Page 7