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Registered number: SC098713










BLUE2 DIGITAL LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

 
BLUE2 DIGITAL LIMITED
 

COMPANY INFORMATION


Directors
Mr NC Chapman 
Mrs VE Anderson 
Mr SD McCallum 
Mr A Cowan 
Mr RA Black 




Registered number
SC098713



Registered office
Avian House
87 Brook Street

Broughty Ferry

Dundee

DD5 1DJ




Accountants
EQ Accountants Limited
Chartered Accountants

14 City Quay

Dundee

DD1 3JA





 
BLUE2 DIGITAL LIMITED
REGISTERED NUMBER: SC098713

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2024

2024
2023
£
£

Fixed assets
  

Tangible assets
 4 
46,928
45,520

  
46,928
45,520

Current assets
  

Debtors: amounts falling due within one year
 5 
903,690
871,465

Bank & cash balances
  
270,993
165,755

  
1,174,683
1,037,220

Creditors: amounts falling due within one year
 6 
(537,953)
(423,670)

Net current assets
  
 
 
636,730
 
 
613,550

Total assets less current liabilities
  
683,658
659,070

Provisions for liabilities
  

Deferred Tax
  
(11,660)
(8,530)

  
 
 
(11,660)
 
 
(8,530)

Net assets
  
671,998
650,540


Capital and reserves
  

Called up share capital 
 7 
20,000
20,000

Share premium account
  
9,500
9,500

Other reserves
  
2,500
2,500

Profit and loss account
  
639,998
618,540

  
671,998
650,540


Page 1

 
BLUE2 DIGITAL LIMITED
REGISTERED NUMBER: SC098713

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 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 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 27 May 2025.




Mr SD McCallum
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
BLUE2 DIGITAL LIMITED
 

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

1.


General information

Blue2 Digital Limited is a private company, limited by shares, domiciled in Scotland with registration number SC098713. The registered office is Avian House, 87 Brook Street, Broughty Ferry, Dundee, DD5 1DJ.
The Company's functional and presentational currency is GBP.

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

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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.

 
2.3

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.

Page 3

 
BLUE2 DIGITAL LIMITED
 

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

2.Accounting policies (continued)

 
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 at the following rates:

Office equipment
-
10-25%

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.

 
2.5

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

 
BLUE2 DIGITAL LIMITED
 

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

2.Accounting policies (continued)

 
2.6

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.



3.


Employees

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

Page 5

 
BLUE2 DIGITAL LIMITED
 

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

4.


Tangible fixed assets





Office Equipment

£



Cost or valuation


At 1 September 2023
120,273


Additions
11,505


Disposals
(768)



At 31 August 2024

131,010



Depreciation


At 1 September 2023
74,753


Charge for the year on owned assets
9,745


Disposals
(416)



At 31 August 2024

84,082



Net book value



At 31 August 2024
46,928



At 31 August 2023
45,520


5.


Debtors

2024
2023
£
£


Trade debtors
217,419
227,017

Amounts owed by group undertakings
597,327
590,968

Other debtors
1,475
7

Prepayments and accrued income
16,457
9,880

Amounts recoverable on long term contracts
63,485
43,593

Tax recoverable
7,527
-

903,690
871,465


Page 6

 
BLUE2 DIGITAL LIMITED
 

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

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
30,637
1,334

Amounts owed to group undertakings
366,723
296,499

Other taxation and social security
43,181
50,600

Other creditors
9,783
7,000

Accruals and deferred income
87,629
68,237

537,953
423,670



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



20,000 Ordinary shares shares of £1 each
20,000
20,000



8.


Contingent liabilities

There is a bond and floating charge held against the assets of the company in favour of Handelsbanken in relation to a bank loan provided to the parent company.


9.


Controlling party

The ultimate parent undertaking is Altar Group Ltd, a company incorporated in the UK. 


Page 7