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Registered number: 08346728










EXCELERATE360 LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2025



 
EXCELERATE360 LIMITED
REGISTERED NUMBER: 08346728

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2025

2025
2024
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,294
12,228

  
3,294
12,228

Current assets
  

Debtors: amounts falling due within one year
 5 
107,830
142,022

Cash at bank and in hand
  
121,935
110,925

  
229,765
252,947

Creditors: amounts falling due within one year
 6 
(155,708)
(190,087)

Net current assets
  
 
 
74,057
 
 
62,860

Total assets less current liabilities
  
77,351
75,088

Creditors: amounts falling due after more than one year
 7 
(8,333)
(18,333)

Provisions for liabilities
  

Deferred tax
 9 
(2,428)
(3,057)

  
 
 
(2,428)
 
 
(3,057)

Net assets
  
66,590
53,698


Capital and reserves
  

Called up share capital 
 10 
60
60

Capital redemption reserve
  
40
40

Profit and loss account
  
66,490
53,598

  
66,590
53,698


Page 1

 
EXCELERATE360 LIMITED
REGISTERED NUMBER: 08346728
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2025

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 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 on 12 May 2025.




G Page
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
EXCELERATE360 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

1.Accounting policies

 
1.1

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:

 
1.2

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 profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
1.3

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

 
EXCELERATE360 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

1.Accounting policies (continued)

 
1.4

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.

 
1.5

Interest income

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

 
1.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
1.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
1.8

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 Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
EXCELERATE360 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

1.Accounting policies (continued)

 
1.9

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 reporting 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 reporting 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 reporting date.


 
1.10

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:

Fixtures and fittings
-
25% Reducing Balance
Office equipment
-
20% Reducing Balance

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 5

 
EXCELERATE360 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

1.Accounting policies (continued)

 
1.11

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.

 
1.12

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.

 
1.13

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.

 
1.14

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.

 
1.15

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.


2.


General information

Excelerate360 Limited is a private company, limited by shares and incorporated in England.
Its registered number is: 08346728
The address of its Registered office is: 
Invision House
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY


3.


Employees

The average monthly number of employees, including directors, during the year was 33 (2024 - 37).

Page 6

 
EXCELERATE360 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 February 2024
4,047
19,412
23,459


Disposals
(3,362)
(13,718)
(17,080)



At 31 January 2025

685
5,694
6,379



Depreciation


At 1 February 2024
2,598
8,632
11,230


Charge for the year on owned assets
96
751
847


Disposals
(2,298)
(6,694)
(8,992)



At 31 January 2025

396
2,689
3,085



Net book value



At 31 January 2025
289
3,005
3,294



At 31 January 2024
1,449
10,779
12,228

Page 7

 
EXCELERATE360 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

5.


Debtors

2025
2024
£
£


Trade debtors
87,720
122,694

Other debtors
3,434
665

Prepayments and accrued income
16,676
18,663

107,830
142,022



6.


Creditors: Amounts falling due within one year

2025
2024
£
£

Bank loans
10,000
10,000

Trade creditors
31,968
21,390

Corporation tax
51,224
34,041

Other taxation and social security
21,220
59,332

Other creditors
21,496
9,097

Accruals and deferred income
19,800
56,227

155,708
190,087



7.


Creditors: Amounts falling due after more than one year

2025
2024
£
£

Bank loans
8,333
18,333

8,333
18,333


Page 8

 
EXCELERATE360 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

8.


Loans


Analysis of the maturity of loans is given below:


2025
2024
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 1-2 years

Bank loans
8,333
10,000


8,333
10,000

Amounts falling due 2-5 years

Bank loans
-
8,333


-
8,333


18,333
28,333


Page 9

 
EXCELERATE360 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

9.


Deferred taxation




2025


£






At beginning of year
(3,057)


Charged to profit or loss
629



At end of year
(2,428)

The provision for deferred taxation is made up as follows:

2025
2024
£
£


Accelerated capital allowances
(2,428)
(3,057)

(2,428)
(3,057)


10.


Share capital

2025
2024
£
£
Allotted, called up and fully paid



20 (2024 - 20) Ordinary A shares of £1.00 each
20
20
20 (2024 - 20) Ordinary B shares of £1.00 each
20
20
20 (2024 - 20) Ordinary E shares of £1.00 each
20
20

60

60


 
Page 10