Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-312025-05-128The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2024-01-01No description of principal activity11truetruefalse 09509289 2024-01-01 2024-12-31 09509289 2023-01-01 2023-12-31 09509289 2024-12-31 09509289 2023-12-31 09509289 c:Director1 2024-01-01 2024-12-31 09509289 d:MotorVehicles 2024-01-01 2024-12-31 09509289 d:MotorVehicles 2024-12-31 09509289 d:MotorVehicles 2023-12-31 09509289 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 09509289 d:ComputerEquipment 2024-01-01 2024-12-31 09509289 d:ComputerEquipment 2024-12-31 09509289 d:ComputerEquipment 2023-12-31 09509289 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 09509289 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 09509289 d:CurrentFinancialInstruments 2024-12-31 09509289 d:CurrentFinancialInstruments 2023-12-31 09509289 d:Non-currentFinancialInstruments 2024-12-31 09509289 d:Non-currentFinancialInstruments 2023-12-31 09509289 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 09509289 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 09509289 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 09509289 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 09509289 d:ShareCapital 2024-12-31 09509289 d:ShareCapital 2023-12-31 09509289 d:RetainedEarningsAccumulatedLosses 2024-12-31 09509289 d:RetainedEarningsAccumulatedLosses 2023-12-31 09509289 c:FRS102 2024-01-01 2024-12-31 09509289 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 09509289 c:FullAccounts 2024-01-01 2024-12-31 09509289 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 09509289 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 09509289









LATERAL MGMT UK LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
LATERAL MGMT UK LTD
REGISTERED NUMBER: 09509289

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
123,575
13,587

  
123,575
13,587

Current assets
  

Debtors: amounts falling due within one year
 5 
861,555
320,263

Cash at bank and in hand
 6 
95,401
41,113

  
956,956
361,376

Creditors: amounts falling due within one year
 7 
(837,449)
(679,371)

Net current assets/(liabilities)
  
 
 
119,507
 
 
(317,995)

Total assets less current liabilities
  
243,082
(304,408)

Creditors: amounts falling due after more than one year
 8 
(71,112)
-

  

Net assets/(liabilities)
  
171,970
(304,408)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
171,870
(304,508)

  
171,970
(304,408)


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 12 May 2025.

Page 1

 
LATERAL MGMT UK LTD
REGISTERED NUMBER: 09509289
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024




Mr J Binns
Director

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

Page 2

 
LATERAL MGMT UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Lateral Mgmt UK Ltd is a private company limited by share capital, incorporated in England and Wales,
registration number 09509289. The address of the registered office is 48 George Street,
Floor 2, London, W1U 7DY.

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

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.

 
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.

Page 3

 
LATERAL MGMT UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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.


 
2.6

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:

Motor vehicles
-
20%
Computer equipment
-
20%

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.

 
2.7

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 4

 
LATERAL MGMT UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2023 - 11).


4.


Tangible fixed assets





Motor vehicles
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2024
-
30,429
30,429


Additions
132,350
5,130
137,480


Disposals
-
(18,347)
(18,347)



At 31 December 2024

132,350
17,212
149,562



Depreciation


At 1 January 2024
-
16,843
16,843


Charge for the year on owned assets
19,852
3,129
22,981


Disposals
-
(13,837)
(13,837)



At 31 December 2024

19,852
6,135
25,987



Net book value



At 31 December 2024
112,498
11,077
123,575



At 31 December 2023
-
13,587
13,587

Page 5

 
LATERAL MGMT UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Debtors

2024
2023
£
£


Trade debtors
445,916
35,252

Amounts owed by group undertakings
25,720
-

Amounts owed by joint ventures and associated undertakings
24,490
-

Other debtors
199,173
143,617

Prepayments and accrued income
166,256
141,394

861,555
320,263



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
95,401
41,113

Less: bank overdrafts
-
(11)

95,401
41,102



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
-
11

Trade creditors
119,366
108,769

Amounts owed to group undertakings
134,189
134,189

Corporation tax
91,023
266

Other taxation and social security
259,908
190,348

Obligations under finance lease and hire purchase contracts (see note 9)
9,118
-

Other creditors
199,125
235,788

Accruals and deferred income
24,720
10,000

837,449
679,371


Page 6

 
LATERAL MGMT UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
71,112
-

71,112
-


The assets acquired under contract purchase agreements are secured on the underlying assets obtained.  The aggregate amount secured is £80,230.


9.


Pension commitments

The company contributes to a defined contribution pension scheme on behalf of its employees. The
assets of the scheme are held separately from those of the company in an independently administered
fund. The pension charge for the year was £12,920 (2023: £10,507). There is an amount of £11,367
outstanding at the year end.
The annual commitment in respect of this scheme is £16,332.

Page 7

 
LATERAL MGMT UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

10.


Related party transactions

Included in other creditors at the balance sheet date is an amount of £81,908 (2023: £99,639) due to the director. The amount is in respect of cash advances to the company net of expenses paid by the company on behalf of the director. This amount is unsecured, bears interest at a rate of 5% per annum and is repayable on demand.
Also included in creditors at the balance sheet date is an amount of £134,189 (2023: £134,189) due to the parent undertaking. The amount is in respect of cash advances from the parent undertaking net of expenses borne on behalf of that company. The amount is unsecured, interest free and repayable on demand. 
Also included in other creditors at the balance sheet date is an amount of £75,000 (2023: £75,000) due to an entity in which a director of this company is a shareholder. The liability is in the form of a promissory note. The amount is unsecured, bears interest at a rate of 4% per annum and is repayable on demand. 
Also included in other creditors at the balance sheet date is an amount of £20,000 (2023: £Nil) due to an entity associated with the ultimate controlling party of the company. The liability is in the form of a promissory note. The amount is unsecured, bears interest at a rate of 5.25% per annum and is repayable on demand.  Included within trade creditors are amounts totalling £34,074 due to entities associated with the same controlling party individual.  
Included in other debtors at the balance sheet date is an amount of £117,500 (2023: £117,500) due from
a key member of management personnel who holds the title of Managing Director within the Company. The amount comprises a loan. Interest on the loan of £1,175 (2023: £1,175) was paid and credited to the profit and loss account during the year. The loan is secured against shares held by this individual in the parent company of this entity, bears interest at a rate of 1% per annum and is repayable on demand.
At the balance sheet date an amount of £25,720 (2023: £Nil) is due from a subsidiary. The amount is in respect of expenses borne on behalf of that company.  The amount is unsecured, interest free and repayable on demand. During the year an amount of £Nil (2023: £122,546) was provided against and charged to the profit and loss account.
At the balance sheet date an amount of £24,490 (2023: £Nil) is due from a company which is 50% owned by this company. The amount is in respect of expenses borne on behalf of that company.  The amount is unsecured, interest free and repayable on demand. 

 
Page 8