Caseware UK (AP4) 2024.0.164 2024.0.164 2025-05-072025-05-08falsetrue2023-01-01No description of principal activity49falsefalse 05318228 2023-01-01 2023-12-31 05318228 2022-01-01 2022-12-31 05318228 2023-12-31 05318228 2022-12-31 05318228 c:Director4 2023-01-01 2023-12-31 05318228 d:OfficeEquipment 2023-01-01 2023-12-31 05318228 d:OfficeEquipment 2023-12-31 05318228 d:OfficeEquipment 2022-12-31 05318228 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05318228 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 05318228 d:OtherPropertyPlantEquipment 2023-12-31 05318228 d:OtherPropertyPlantEquipment 2022-12-31 05318228 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05318228 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05318228 d:CurrentFinancialInstruments 2023-12-31 05318228 d:CurrentFinancialInstruments 2022-12-31 05318228 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 05318228 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 05318228 d:ShareCapital 2023-12-31 05318228 d:ShareCapital 2022-12-31 05318228 d:RetainedEarningsAccumulatedLosses 2023-12-31 05318228 d:RetainedEarningsAccumulatedLosses 2022-12-31 05318228 c:FRS102 2023-01-01 2023-12-31 05318228 c:Audited 2023-01-01 2023-12-31 05318228 c:FullAccounts 2023-01-01 2023-12-31 05318228 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05318228 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 05318228 2 2023-01-01 2023-12-31 05318228 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 05318228










Allentown UK Limited










Financial statements

Information for filing with the registrar

For the year ended 31 December 2023

 
Allentown UK Limited
Registered number: 05318228

Balance sheet
As at 31 December 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
1,668

Current assets
  

Stocks
  
28,631
246,524

Debtors: amounts falling due within one year
 5 
59,385
212,891

Cash at bank and in hand
  
27,322
45,269

  
115,338
504,684

Creditors: amounts falling due within one year
 6 
(1,234,342)
(1,154,921)

Net current liabilities
  
 
 
(1,119,004)
 
 
(650,237)

Total assets less current liabilities
  
(1,119,004)
(648,569)

  

Net liabilities
  
(1,119,004)
(648,569)


Capital and reserves
  

Called up share capital 
  
44,013
44,013

Profit and loss account
  
(1,163,017)
(692,582)

  
(1,119,004)
(648,569)


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 income and retained earnings 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: 




................................................
M D Lecher
Director
Date: 7 May 2025

The notes on pages 2 to 8 form part of these financial statements.

Page 1

 
Allentown UK Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

1.


General information

The company is a private company limited by share capital in England and Wales.
The registered number is 05318228.
The address of the registered office is:
4th Floor Rex House
4-12 Regent Street
London
Greater London
SW1Y 4RG

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 a going concern basis. The company's ability to continue to trade is dependant upon the support of the group. If this assumption proves to be inappropriate, adjustments may have to be made to adjust the values of assets to their recoverable amounts, to provide for any further liabilities which might arise.

Page 2

 
Allentown UK Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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

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:

Office equipment
-
33%
and 10%
Exhibition equipment
-
33%

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.

Page 3

 
Allentown UK Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately 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.

 
2.7

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.

 
2.8

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.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

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

 
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.

Page 4

 
Allentown UK Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.10

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.

 
2.11

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.

 
2.12

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.

 
2.13

Interest income

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

Page 5

 
Allentown UK Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.14

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.

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.



3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 9).

Page 6

 
Allentown UK Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

4.


Tangible fixed assets





Office equipment
Exhibition
equipment
Total

£
£
£





At 1 January 2023
44,505
50,817
95,322


Additions
940
-
940


Disposals
(45,445)
(50,817)
(96,262)



At 31 December 2023

-
-
-





At 1 January 2023
42,837
50,817
93,654


Charge for the year on owned assets
1,178
-
1,178


Disposals
(44,015)
(50,817)
(94,832)



At 31 December 2023

-
-
-



Net book value



At 31 December 2023
-
-
-



At 31 December 2022
1,668
-
1,668

Page 7

 
Allentown UK Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

5.


Debtors

2023
2022
£
£


Trade debtors
7,778
177,072

Amounts owed by group undertakings
8,632
-

Other debtors
29,911
30,304

Prepayments and accrued income
13,064
5,515

59,385
212,891



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
55,471
10,023

Amounts owed to group undertakings
1,139,192
1,061,365

Other taxation and social security
-
8

Other creditors
7,595
1,785

Accruals and deferred income
32,084
81,740

1,234,342
1,154,921



7.


Controlling party

Allentown LLC is the parent company of Allentown UK Limited. The registered office of Allentown LLC is 165 Route 526 Allentown, NJ 08501, USA. 
The ultimate parent company of Allentown UK Limited is Aterian Investment Partners UGP IV, LLC, based in the USA. The registered address is 550 Fifth Avenue, 8th Floor, New York, NY 10036, USA.


8.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was qualified.

The qualification in the audit report was as follows:
During the course of the audit, it is a requirement for us to attend the physical inventory count to obtain audit evidence with regards to the existence and condition of the inventory item. We tried to arrange for attendance of the stock count, however due to the lack of staff in the UK, we were unable to attend the physical inventory count conducted. This poses limitations on the scope of our procedures to independently verify the quantity and condition of the inventory on hand as at 31 December 2023. Our audit opinion on the financial statements for the year ended 31st December 2023 was modified accordingly.

The audit report was signed on 8 May 2025 by Simon Webber BA FCA DChA (Senior statutory auditor) on behalf of Kreston Reeves LLP.


Page 8