Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-312025-05-19122024-01-01falseNo description of principal activity13truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11236530 2024-01-01 2024-12-31 11236530 2023-01-01 2023-12-31 11236530 2024-12-31 11236530 2023-12-31 11236530 c:Director2 2024-01-01 2024-12-31 11236530 d:Buildings d:LongLeaseholdAssets 2024-01-01 2024-12-31 11236530 d:Buildings d:LongLeaseholdAssets 2024-12-31 11236530 d:Buildings d:LongLeaseholdAssets 2023-12-31 11236530 d:OfficeEquipment 2024-01-01 2024-12-31 11236530 d:OfficeEquipment 2024-12-31 11236530 d:OfficeEquipment 2023-12-31 11236530 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 11236530 d:ComputerEquipment 2024-01-01 2024-12-31 11236530 d:ComputerEquipment 2024-12-31 11236530 d:ComputerEquipment 2023-12-31 11236530 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 11236530 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 11236530 d:PatentsTrademarksLicencesConcessionsSimilar 2024-01-01 2024-12-31 11236530 d:PatentsTrademarksLicencesConcessionsSimilar 2024-12-31 11236530 d:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 11236530 d:ComputerSoftware 2024-12-31 11236530 d:ComputerSoftware 2023-12-31 11236530 d:OtherResidualIntangibleAssets 2024-01-01 2024-12-31 11236530 d:CurrentFinancialInstruments 2024-12-31 11236530 d:CurrentFinancialInstruments 2023-12-31 11236530 d:Non-currentFinancialInstruments 2024-12-31 11236530 d:Non-currentFinancialInstruments 2023-12-31 11236530 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 11236530 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11236530 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 11236530 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 11236530 d:ShareCapital 2024-12-31 11236530 d:ShareCapital 2023-12-31 11236530 d:SharePremium 2024-12-31 11236530 d:SharePremium 2023-12-31 11236530 d:CapitalRedemptionReserve 2024-12-31 11236530 d:CapitalRedemptionReserve 2023-12-31 11236530 d:OtherMiscellaneousReserve 2024-12-31 11236530 d:OtherMiscellaneousReserve 2023-12-31 11236530 d:RetainedEarningsAccumulatedLosses 2024-12-31 11236530 d:RetainedEarningsAccumulatedLosses 2023-12-31 11236530 c:OrdinaryShareClass1 2024-01-01 2024-12-31 11236530 c:OrdinaryShareClass1 2024-12-31 11236530 c:OrdinaryShareClass1 2023-12-31 11236530 c:FRS102 2024-01-01 2024-12-31 11236530 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 11236530 c:FullAccounts 2024-01-01 2024-12-31 11236530 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 11236530 d:HirePurchaseContracts d:WithinOneYear 2024-12-31 11236530 d:HirePurchaseContracts d:WithinOneYear 2023-12-31 11236530 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-12-31 11236530 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-12-31 11236530 6 2024-01-01 2024-12-31 11236530 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2024-01-01 2024-12-31 11236530 d:ComputerSoftware d:OwnedIntangibleAssets 2024-01-01 2024-12-31 11236530 e:PoundSterling 2024-01-01 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11236530










THE BLOCKHOUSE TECHNOLOGY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
THE BLOCKHOUSE TECHNOLOGY LIMITED
REGISTERED NUMBER: 11236530

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
1,284,867
1,370,525

Tangible assets
 5 
82,123
103,042

Investments
 6 
175,194
175,194

  
1,542,184
1,648,761

Current Assets
  

Debtors: amounts falling due within one year
 7 
4,307,024
1,973,940

Cash at bank and in hand
 8 
11,966,328
15,940,839

Current liablities
  
16,273,352
17,914,779

Creditors: amounts falling due within one year
 9 
(989,467)
(1,210,306)

Net current assets
  
 
 
15,283,885
 
 
16,704,473

Total assets less current liabilities
  
16,826,069
18,353,234

Creditors: amounts falling due after more than one year
 10 
(408,435)
(521,151)

  

Net assets
  
16,417,634
17,832,083


Capital and reserves
  

Called up share capital 
 12 
4
4

Share premium account
  
28,770,860
28,770,860

Capital redemption reserve
  
3,642,796
3,642,796

Share based payment reserve
  
1,113,382
1,075,000

Profit and loss account
  
(17,109,408)
(15,656,577)

  
16,417,634
17,832,083


Page 1

 
THE BLOCKHOUSE TECHNOLOGY LIMITED
REGISTERED NUMBER: 11236530

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

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 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: 



A Roscoe
Director

Date: 19 May 2025

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

Page 2

 
THE BLOCKHOUSE TECHNOLOGY LIMITED
 

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

1.


General information

The Blockhouse Technology Limited is a private company, limited by share capital and incorporated in England and Wales. The address of the registered office is 2 Communications Road, Greenham Business Park, Newbury, Berkshire, United Kingdom, RG19 6AB.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the year end the company had net current assets of £15,283,885 (2023: £16,704,473) and made a loss in the period of £1,452,831 (2023: £4,448,715). The financial statements have been prepared on a going concern basis as the directors have assessed that the company has sufficient cash to to meet its liabilities as they fall due for at least 12 months from the signing of the financial statements. 

 
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.

 
2.4

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.

Page 3

 
THE BLOCKHOUSE TECHNOLOGY LIMITED
 

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

2.Accounting policies (continued)

  
2.5

Leased assets: the Company as lessee

The Company has acquired a licence to use patents. This asset has been obtained under a finance lease and has been capitalised as an intangible fixed assets and amortised over the life of the patents. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the Company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Statement of Comprehensive Income so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.6

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
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.

 
2.8

Share-based payments

Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each balance sheet date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition.
The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the Company keeping the scheme open or the employee maintaining any contributions required by the scheme).
Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period.
Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.

Page 4

 
THE BLOCKHOUSE TECHNOLOGY LIMITED
 

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

2.Accounting policies (continued)

 
2.9

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.


 
2.10

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

 The estimated useful lives range as follows:

Patent licence
-
20
years from the date the asset is brought into use
Other intangible fixed assets
-
3
years

 
2.11

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:

Long-term leasehold property
-
10%
Straight line
Office equipment
-
25%
Straight line
Computer equipment
-
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.

 
2.12

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 5

 
THE BLOCKHOUSE TECHNOLOGY LIMITED
 

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

2.Accounting policies (continued)

 
2.13

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.14

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.

 
2.15

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.

 
2.16

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.

 
2.17

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 13 (2023 - 12).

Page 6

 
THE BLOCKHOUSE TECHNOLOGY LIMITED
 

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

4.


Intangible assets




Patent licence
Software
Total

£
£
£



Cost


At 1 January 2024
1,713,157
59,200
1,772,357



At 31 December 2024

1,713,157
59,200
1,772,357



Amortisation


At 1 January 2024
342,632
59,200
401,832


Charge for the year on owned assets
85,658
-
85,658



At 31 December 2024

428,290
59,200
487,490



Net book value



At 31 December 2024
1,284,867
-
1,284,867



At 31 December 2023
1,370,525
-
1,370,525



Page 7

 
THE BLOCKHOUSE TECHNOLOGY LIMITED
 

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

5.


Tangible fixed assets





Improvements to leasehold property
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2024
178,838
41,128
82,571
302,537


Additions
-
1,913
5,637
7,550


Disposals
(1,000)
-
-
(1,000)



At 31 December 2024

177,838
43,041
88,208
309,087



Depreciation


At 1 January 2024
111,117
39,095
49,283
199,495


Charge for the year on owned assets
17,826
1,599
8,586
28,011


Disposals
(542)
-
-
(542)



At 31 December 2024

128,401
40,694
57,869
226,964



Net book value



At 31 December 2024
49,437
2,347
30,339
82,123



At 31 December 2023
67,721
2,033
33,288
103,042


6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2024
175,194



At 31 December 2024
175,194




Page 8

 
THE BLOCKHOUSE TECHNOLOGY LIMITED
 

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

7.


Debtors

2024
2023
£
£


Trade debtors
1,440,009
90,009

Other debtors
2,377,991
1,545,198

Prepayments and accrued income
489,024
338,733

4,307,024
1,973,940


Amounts included within other debtors of £1,186,118 (2023: £1,186,118) are owed by a related party and is repayable on 31 December 2025 and is non-interest bearing.


8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
11,966,328
15,940,839



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
158,700
46,005

Other taxation and social security
31,057
55,114

Obligations under finance lease and hire purchase contracts
200,000
200,000

Other creditors
478,567
478,133

Accruals and deferred income
121,143
431,054

989,467
1,210,306



10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
408,435
521,151


Page 9

 
THE BLOCKHOUSE TECHNOLOGY LIMITED
 

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

11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
200,000
200,000

Between 1-5 years
408,435
521,151

608,435
721,151


12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



4,359 (2023 - 4,347) Ordinary shares of £0.001 each
4.359
4.347




There were 12 (2023 - 0) Ordinary shares issued during the year with a nominal value of £0.001.


13.


Share-based payments

On 1 January 2022, 121 EMI approved share options and 70 non-EMI approved share options were issued. The fair value of the shares at the grant date for the purpose of the share based payment accounting was deemed to be £5,829 per share. This was based on a Black-Scholes valuation.
These options are equity settled share options that vest subject to the option holder remaining employed by the Company on each vesting date between the grant date and the 3 year anniversary. The options expire 10 years after the grant date.
There were nil options exercised during the year and nil options forfeited during the year. At the year end there were 191 exercisable options outstanding at weighted average price of £5,829 per share.
A charge of £38,382 (2023 - £181,392) has been recognised in the profit and loss account in respect of these share options during the period.


14.


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 £20,268 (2023: £16,547). Contributions totalling £2,630 (2023: £3,062) were payable to the fund at the balance sheet date and are included in creditors.


15.


Controlling party

The Company is controlled by the directors by virtue of their shareholdings.


Page 10