Caseware UK (AP4) 2024.0.164 2024.0.164 2024-05-312024-05-312025-05-2222023-06-01falseNo description of principal activity2falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 13402960 2023-06-01 2024-05-31 13402960 2022-06-01 2023-05-31 13402960 2024-05-31 13402960 2023-05-31 13402960 c:Director3 2023-06-01 2024-05-31 13402960 d:PatentsTrademarksLicencesConcessionsSimilar 2023-06-01 2024-05-31 13402960 d:PatentsTrademarksLicencesConcessionsSimilar 2024-05-31 13402960 d:PatentsTrademarksLicencesConcessionsSimilar 2023-05-31 13402960 d:CurrentFinancialInstruments 2024-05-31 13402960 d:CurrentFinancialInstruments 2023-05-31 13402960 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 13402960 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 13402960 d:ShareCapital 2024-05-31 13402960 d:ShareCapital 2023-05-31 13402960 d:RetainedEarningsAccumulatedLosses 2024-05-31 13402960 d:RetainedEarningsAccumulatedLosses 2023-05-31 13402960 c:FRS102 2023-06-01 2024-05-31 13402960 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 13402960 c:FullAccounts 2023-06-01 2024-05-31 13402960 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 13402960 d:ComputerSoftware 2024-05-31 13402960 d:ComputerSoftware 2023-05-31 13402960 d:PatentsTrademarksLicencesConcessionsSimilar d:ExternallyAcquiredIntangibleAssets 2023-06-01 2024-05-31 13402960 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2023-06-01 2024-05-31 13402960 d:ExternallyAcquiredIntangibleAssets 2023-06-01 2024-05-31 13402960 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2023-06-01 2024-05-31 13402960 d:ComputerSoftware d:OwnedIntangibleAssets 2023-06-01 2024-05-31 13402960 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Registered number: 13402960










MY RECLAIM LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

 
MY RECLAIM LIMITED
REGISTERED NUMBER: 13402960

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
22,785
77,778

  
22,785
77,778

Current assets
  

Debtors: amounts falling due within one year
 5 
8,976
86,465

Cash at bank and in hand
  
4,142
170

  
13,118
86,635

Creditors: amounts falling due within one year
 6 
(51,201)
(292,164)

Net current liabilities
  
 
 
(38,083)
 
 
(205,529)

  

Net liabilities
  
(15,298)
(127,751)


Capital and reserves
  

Called up share capital 
  
300
300

Profit and loss account
  
(15,598)
(128,051)

  
(15,298)
(127,751)

Page 1

 
MY RECLAIM LIMITED
REGISTERED NUMBER: 13402960
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 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 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 by: 




P Ryan
Director

Date: 22 May 2025

The notes on pages 3 to 8 form part of these financial statements.
Page 2

 
MY RECLAIM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

The Company is a private company limited by shares and incorporated in England and Wales, registration number 13402960. The registered office is Suite 103, 4 Montpelier Street, London, SW7 1EE.

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 company has made a profit of £112,453 and has total net liabilities of £15,298 at the Balance Sheet date. The company’s directors and shareholders have confirmed their ability and willingness to support the company financially for at least twelve months from the date of the approval of the financial statements. 
Based on these assessments and having regard to the resources available to the entity, the directors have concluded that there is no material uncertainty and the going concern policy can continued to be adopted in preparing the accounts.

 
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

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.

Page 3

 
MY RECLAIM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.5

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.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Licences
-
3
years

 
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

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.

 
2.9

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.
 
Page 4

 
MY RECLAIM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)


2.9
Financial instruments (continued)


Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs 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 receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument 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.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Page 5

 
MY RECLAIM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)


2.9
Financial instruments (continued)

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.


3.


Employees









The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 6

 
MY RECLAIM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Intangible assets




Licences
Computer software
Total

£
£
£



Cost


At 1 June 2023
175,000
-
175,000


Additions
-
4,000
4,000



At 31 May 2024

175,000
4,000
179,000



Amortisation


At 1 June 2023
97,222
-
97,222


Charge for the year on owned assets
58,333
660
58,993



At 31 May 2024

155,555
660
156,215



Net book value



At 31 May 2024
19,445
3,340
22,785



At 31 May 2023
77,778
-
77,778




5.


Debtors

2024
2023
£
£


Amounts owed by related undertakings
-
65,200

Other debtors
8,976
21,265

8,976
86,465


Page 7

 
MY RECLAIM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
38,786
86,629

Amounts owed to related undertakings
-
137,239

Other creditors
-
63,296

Accruals and deferred income
12,415
5,000

51,201
292,164



7.


Related party transactions

At the year end there was a balance of £Nil (2023: £65,200 owed by Cheval Legal Limited) included within debtors. During the year the Company sold services amounting to £Nil (2023: £135,193) and wrote off an amount of £32,855 which had been payable to Cheval Legal Limited. The companies are connected by virtue of having a mutual Director, Mr S McGarry and a mutual shareholder, Mr P Ryan.
Also included in creditors at the year end was an amount owing of £Nil (2023: £137,239) owed to DGM Administrative Services Limited. During the year the Company wrote off an amount of £167,239 which had been payable to DGM Adminstrative Services Limited. The companies are connected by virtue of having a mutual Director, A Brindley and mutual shareholders, Mr P Ryan and Mr S McGarry.       

 
Page 8