Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-312025-05-01falsetrue2024-01-01falseNo description of principal activity3429false 05197930 2024-01-01 2024-12-31 05197930 2023-01-01 2023-12-31 05197930 2024-12-31 05197930 2023-12-31 05197930 2023-01-01 05197930 c:Director5 2024-01-01 2024-12-31 05197930 d:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 05197930 d:OtherPropertyPlantEquipment 2024-12-31 05197930 d:OtherPropertyPlantEquipment 2023-12-31 05197930 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 05197930 d:CurrentFinancialInstruments 2024-12-31 05197930 d:CurrentFinancialInstruments 2023-12-31 05197930 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 05197930 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 05197930 d:ShareCapital 2024-12-31 05197930 d:ShareCapital 2023-12-31 05197930 d:ShareCapital 2023-01-01 05197930 d:SharePremium 2024-12-31 05197930 d:SharePremium 2023-12-31 05197930 d:SharePremium 2023-01-01 05197930 d:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 05197930 d:RetainedEarningsAccumulatedLosses 2024-12-31 05197930 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 05197930 d:RetainedEarningsAccumulatedLosses 2023-12-31 05197930 d:RetainedEarningsAccumulatedLosses 2023-01-01 05197930 d:AcceleratedTaxDepreciationDeferredTax 2024-12-31 05197930 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 05197930 d:OtherDeferredTax 2024-12-31 05197930 d:OtherDeferredTax 2023-12-31 05197930 c:FRS102 2024-01-01 2024-12-31 05197930 c:Audited 2024-01-01 2024-12-31 05197930 c:FullAccounts 2024-01-01 2024-12-31 05197930 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 05197930 d:Subsidiary1 2024-01-01 2024-12-31 05197930 d:Subsidiary1 1 2024-01-01 2024-12-31 05197930 c:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 05197930 2 2024-01-01 2024-12-31 05197930 6 2024-01-01 2024-12-31 05197930 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 05197930










SQLI UK LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
SQLI UK LIMITED
REGISTERED NUMBER: 05197930

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
71,694
52,425

Investments
 5 
9,421
9,421

  
81,115
61,846

Current assets
  

Debtors: amounts falling due within one year
 6 
3,872,583
3,825,114

Cash at bank and in hand
 7 
1,755,846
1,298,539

  
5,628,429
5,123,653

Creditors: amounts falling due within one year
 8 
(3,377,325)
(2,647,313)

Net current assets
  
 
 
2,251,104
 
 
2,476,340

Total assets less current liabilities
  
2,332,219
2,538,186

Provisions for liabilities
  

Deferred tax
 9 
(3,969)
(3,969)

  
 
 
(3,969)
 
 
(3,969)

Net assets
  
2,328,250
2,534,217


Capital and reserves
  

Called up share capital 
  
118
118

Share premium account
  
148,494
148,494

Profit and loss account
  
2,179,638
2,385,605

  
2,328,250
2,534,217


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: 


R M Smith
Director
Date: 29 April 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 1

 
SQLI UK LIMITED
 

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


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£

At 1 January 2024
118
148,494
2,385,605
2,534,217



Profit for the year
-
-
224,033
224,033

Dividends paid
-
-
(430,000)
(430,000)


At 31 December 2024
118
148,494
2,179,638
2,328,250


The notes on pages 3 to 9 form part of these financial statements.


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£

At 1 January 2023
118
148,494
2,293,911
2,442,523



Profit for the year
-
-
91,694
91,694


At 31 December 2023
118
148,494
2,385,605
2,534,217


The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
SQLI UK LIMITED
 

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

1.


General information

SQLI UK Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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

At the time of approving the financial statements, the director have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

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

Page 3

 
SQLI UK LIMITED
 

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

2.Accounting policies (continued)

 
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:

The Company recognises turnover when performance obligations have been satisfied and for the Company this is when the services (IT consulting) have transferred to the customer and the customer has control of these. The Company's activities are described in detail below. The Company bases its estimate of return on historical results, taking into consideration the type of customer, the type of transaction and the specifics of each arrangement.
The company provides business IT management, design, implementation and support services under fixed-price and variable price contracts. Turnover from providing services is recognised in the accounting period in which the services are rendered. For fixed-price contracts, turnover is recognised based on the actual service provided to the end of the reporting period as a proportion of the total services to be provided because the customer receives and uses the benefits simultaneously. This is determined based on the actual labour hours spent relative to the total expected labour hours.

 
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

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.

Page 4

 
SQLI UK LIMITED
 

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

2.Accounting policies (continued)

 
2.8

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.


 
2.9

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:

Equipment
-
20%
On cost

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

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 5

 
SQLI UK LIMITED
 

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

2.Accounting policies (continued)

 
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.

 
2.14

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.

 
2.15

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, loans to related parties and investments in ordinary shares.

 
2.16

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 34 (2023 - 29).

Page 6

 
SQLI UK LIMITED
 

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

4.


Tangible fixed assets





Equipment

£



Cost or valuation


At 1 January 2024
108,780


Additions
34,458



At 31 December 2024

143,238



Depreciation


At 1 January 2024
56,355


Charge for the year on owned assets
15,189



At 31 December 2024

71,544



Net book value



At 31 December 2024
71,694



At 31 December 2023
52,425


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2024
9,421



At 31 December 2024
9,421





Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Registered office

Class of shares

Holding

Redbox Digital ME FZ-LLC
Dubai
Ordinary
100%

Page 7

 
SQLI UK LIMITED
 

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

6.


Debtors

2024
2023
£
£


Trade debtors
1,774,433
1,831,080

Amounts owed by group undertakings
1,835,611
1,816,281

Other debtors
61,811
45,823

Prepayments and accrued income
200,728
131,930

3,872,583
3,825,114



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,755,846
1,298,539

1,755,846
1,298,539



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
112,332
161,004

Amounts owed to group undertakings
2,758,260
1,562,862

Corporation tax
-
14,004

Other taxation and social security
320,006
301,381

Other creditors
18,446
17,144

Accruals and deferred income
168,281
590,918

3,377,325
2,647,313


Page 8

 
SQLI UK LIMITED
 

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

9.


Deferred taxation




2024


£






At beginning of year
(3,969)



At end of year
(3,969)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(3,969)
(9,580)

Movement in deferred tax balance
-
5,611

(3,969)
(3,969)


10.


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 £50,190 (2023 - £56,382). Contributions totalling £11,773 (2023: £11,510) were payable to the fund at the balance sheet date and are included in creditors.


11.


Related party transactions

The company has not disclosed transactions with other members of the group, as permitted by FRS102.


12.


Controlling party

The immediate and ultimate parent entity and controlling party is SQLI SA, A public limited company
incorporated and domiciled in France and quoted on the French stock exchange.


13.


Auditor's information

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

The audit report was signed on 1 May 2025 by Alan Poole BA (Hons) FCA (Senior statutory auditor) on behalf of James Cowper Kreston Audit.

Page 9