Caseware UK (AP4) 2024.0.164 2024.0.164 2024-08-312024-08-312025-05-21The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true2023-09-01falseNo description of principal activity65truefalse 09164758 2023-09-01 2024-08-31 09164758 2022-09-01 2023-08-31 09164758 2024-08-31 09164758 2023-08-31 09164758 c:Director1 2023-09-01 2024-08-31 09164758 d:Buildings d:ShortLeaseholdAssets 2023-09-01 2024-08-31 09164758 d:Buildings d:ShortLeaseholdAssets 2024-08-31 09164758 d:Buildings d:ShortLeaseholdAssets 2023-08-31 09164758 d:FurnitureFittings 2023-09-01 2024-08-31 09164758 d:FurnitureFittings 2024-08-31 09164758 d:FurnitureFittings 2023-08-31 09164758 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 09164758 d:ComputerEquipment 2023-09-01 2024-08-31 09164758 d:ComputerEquipment 2024-08-31 09164758 d:ComputerEquipment 2023-08-31 09164758 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 09164758 d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 09164758 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-08-31 09164758 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-08-31 09164758 d:CurrentFinancialInstruments 2024-08-31 09164758 d:CurrentFinancialInstruments 2023-08-31 09164758 d:Non-currentFinancialInstruments 2024-08-31 09164758 d:Non-currentFinancialInstruments 2023-08-31 09164758 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 09164758 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 09164758 d:Non-currentFinancialInstruments d:AfterOneYear 2024-08-31 09164758 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 09164758 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-08-31 09164758 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-08-31 09164758 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-08-31 09164758 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-08-31 09164758 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-08-31 09164758 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-08-31 09164758 d:ShareCapital 2024-08-31 09164758 d:ShareCapital 2023-08-31 09164758 d:RetainedEarningsAccumulatedLosses 2024-08-31 09164758 d:RetainedEarningsAccumulatedLosses 2023-08-31 09164758 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-08-31 09164758 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-08-31 09164758 c:FRS102 2023-09-01 2024-08-31 09164758 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 09164758 c:FullAccounts 2023-09-01 2024-08-31 09164758 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 09164758 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:InternallyGeneratedIntangibleAssets 2023-09-01 2024-08-31 09164758 2 2023-09-01 2024-08-31 09164758 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-09-01 2024-08-31 09164758 e:PoundSterling 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure

Registered number:  09164758














WRANX LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


 
WRANX LIMITED
REGISTERED NUMBER: 09164758

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
232,932
123,281

Tangible assets
 5 
957
17,103

  
233,889
140,384

Current assets
  

Debtors: amounts falling due within one year
 6 
16,597
7,936

Cash at bank and in hand
 7 
423,724
453,202

  
440,321
461,138

Creditors: amounts falling due within one year
 8 
(920,926)
(797,835)

Net current liabilities
  
 
 
(480,605)
 
 
(336,697)

Total assets less current liabilities
  
(246,716)
(196,313)

Creditors: amounts falling due after more than one year
 9 
(1,310,887)
(1,316,842)

  

Net liabilities
  
(1,557,603)
(1,513,155)


Capital and reserves
  

Called up share capital 
  
1,200,002
1,200,002

Profit and loss account
  
(2,757,605)
(2,713,157)

  
(1,557,603)
(1,513,155)


Page 1

 
WRANX LIMITED
REGISTERED NUMBER: 09164758
    
BALANCE SHEET (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 21 May 2025.



W C Currie
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

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

1.


General information

The company is a private company limited by shares, which is incorporated under the Companies Act 2006 and registered in England and Wales (no.09164758). The address of the registered office is 3rd Floor, Castle Chambers, 43 Castle Street, Liverpool, L2 9SH.
These financial statements present information about the company as an individual undertaking; it is a wholly owned subsidiary company with no subsidiary companies of its own. The principal activity of the company is the sale of digital applications.

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

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.

Page 3

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

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:

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

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.

 
2.5

Interest income

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

 
2.6

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.

 
2.7

Borrowing costs

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

Page 4

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

2.Accounting policies (continued)

 
2.8

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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

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 five years.

 
2.10

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, using the straight-line method.

The estimated useful lives range as follows:

Short-term leasehold property
-
5
years
Fixtures and fittings
-
5
years
Computer equipment
-
3
years

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.

 
2.11

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.

Page 5

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

2.Accounting policies (continued)

 
2.12

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.

 
2.13

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.

 
2.14

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.

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.

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is 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 creditors, bank loans and other loans are
Page 6

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

2.Accounting policies (continued)


2.14
Financial instruments (continued)

initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments 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.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2023 - 5).

Page 7

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

4.


Intangible assets




Wages capitalised

£



Cost


At 1 September 2023
129,676


Additions - internal
159,133



At 31 August 2024

288,809



Amortisation


At 1 September 2023
6,394


Charge for the year on owned assets
49,483



At 31 August 2024

55,877



Net book value



At 31 August 2024
232,932



At 31 August 2023
123,281



Page 8

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

5.


Tangible fixed assets





Short-term leasehold property
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 September 2023
50,327
17,458
50,890
118,675



At 31 August 2024

50,327
17,458
50,890
118,675



Depreciation


At 1 September 2023
39,113
17,458
45,002
101,573


Charge for the year on owned assets
11,214
-
4,931
16,145



At 31 August 2024

50,327
17,458
49,933
117,718



Net book value



At 31 August 2024
-
-
957
957



At 31 August 2023
11,214
-
5,889
17,103


6.


Debtors

2024
2023
£
£


Trade debtors
10,560
2,139

Other debtors
940
2,125

Prepayments and accrued income
5,097
3,672

16,597
7,936



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
423,724
453,202

423,724
453,202


Page 9

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

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
5,956
5,956

Trade creditors
3,135
6,566

Other taxation and social security
8,774
11,687

Other creditors
2,821
2,018

Accruals and deferred income
900,240
771,608

920,926
797,835



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
30,771
36,726

Amounts owed to group undertakings
59,998
59,998

Other creditors
1,220,118
1,220,118

1,310,887
1,316,842



10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
5,956
5,956

Amounts falling due 1-2 years

Bank loans
5,956
5,956

Amounts falling due 2-5 years

Bank loans
17,867
17,867

Amounts falling due after more than 5 years

Bank loans
6,948
12,904

36,727
42,683


Page 10

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

11.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
423,724
453,202




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


12.


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  £10,544 (2023 £8,331). 
Contributions totalling £2,611 (2023 £1,978) were payable to the fund at the balance sheet date and are included in creditors.


13.


Controlling party

The company is a wholly owned subsidiary of Gate Acre Investments Limited, a company incorporated in England and Wales. Copies of the parent company financial statements may be obtained from Companies House, Cardiff CF14 3UZ.
W C Currie is the ultimate controlling party.

 
Page 11