Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-312025-05-27No description of principal activity2024-01-01false2426falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02343897 2024-01-01 2024-12-31 02343897 2023-01-01 2023-12-31 02343897 2024-12-31 02343897 2023-12-31 02343897 c:Director1 2024-01-01 2024-12-31 02343897 d:FurnitureFittings 2024-01-01 2024-12-31 02343897 d:FurnitureFittings 2024-12-31 02343897 d:FurnitureFittings 2023-12-31 02343897 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 02343897 d:ComputerEquipment 2024-01-01 2024-12-31 02343897 d:ComputerEquipment 2024-12-31 02343897 d:ComputerEquipment 2023-12-31 02343897 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 02343897 d:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 02343897 d:OtherPropertyPlantEquipment 2024-12-31 02343897 d:OtherPropertyPlantEquipment 2023-12-31 02343897 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 02343897 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 02343897 d:CurrentFinancialInstruments 2024-12-31 02343897 d:CurrentFinancialInstruments 2023-12-31 02343897 d:Non-currentFinancialInstruments 2024-12-31 02343897 d:Non-currentFinancialInstruments 2023-12-31 02343897 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 02343897 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 02343897 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 02343897 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 02343897 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-12-31 02343897 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 02343897 d:ShareCapital 2024-12-31 02343897 d:ShareCapital 2023-12-31 02343897 d:SharePremium 2024-12-31 02343897 d:SharePremium 2023-12-31 02343897 d:CapitalRedemptionReserve 2024-12-31 02343897 d:CapitalRedemptionReserve 2023-12-31 02343897 d:RetainedEarningsAccumulatedLosses 2024-12-31 02343897 d:RetainedEarningsAccumulatedLosses 2023-12-31 02343897 c:FRS102 2024-01-01 2024-12-31 02343897 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 02343897 c:FullAccounts 2024-01-01 2024-12-31 02343897 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 02343897 d:WithinOneYear 2024-12-31 02343897 d:WithinOneYear 2023-12-31 02343897 d:BetweenOneFiveYears 2024-12-31 02343897 d:BetweenOneFiveYears 2023-12-31 02343897 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 02343897










DE FACTO SOFTWARE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
DE FACTO SOFTWARE LIMITED
REGISTERED NUMBER: 02343897

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
7,854
17,058

  
7,854
17,058

Current assets
  

Debtors: amounts falling due within one year
 5 
393,666
437,124

Cash at bank and in hand
  
975,121
1,029,743

  
1,368,787
1,466,867

Creditors: amounts falling due within one year
 6 
(787,506)
(872,614)

Net current assets
  
 
 
581,281
 
 
594,253

Total assets less current liabilities
  
589,135
611,311

Creditors: amounts falling due after more than one year
 7 
-
(28,450)

  

Net assets
  
589,135
582,861


Capital and reserves
  

Called up share capital 
  
661
661

Share premium account
  
17,170
17,170

Capital redemption reserve
  
340
340

Profit and loss account
  
570,964
564,690

  
589,135
582,861


Page 1

 
DE FACTO SOFTWARE LIMITED
REGISTERED NUMBER: 02343897
    
STATEMENT OF FINANCIAL POSITION (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 income statement 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.




................................................
M A Prince
Director

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

Page 2

 
DE FACTO SOFTWARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

De Facto Software Limited is a private company incorporated in England and Wales, registration number 02343897. The registered office is Epsilon House, West Road, Ipswich, Suffolk, IP3 9FJ. 
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. 

The following principal accounting policies have been applied:

 
2.2

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.

 
2.3

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.

Page 3

 
DE FACTO SOFTWARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

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:

Fixtures & fittings
-
Over 3-4 years
Computer equipment
-
Over 3 years
Improvements to property
-
Over 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.

 
2.4

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.

  
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice. 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.

 
2.6

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.

 
2.7

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Income statement in the same period as the related expenditure.

 
2.8

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 4

 
DE FACTO SOFTWARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.9

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.

 
2.10

Borrowing costs

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

 
2.11

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 reporting date in the countries where the Company operates and generates income.


 
2.12

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 24 (2023 - 26).

Page 5

 
DE FACTO SOFTWARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Tangible fixed assets





Fixtures & fittings
Computer equipment
Other fixed assets
Total

£
£
£
£



Cost or valuation


At 1 January 2024
63,985
286,731
8,312
359,028


Additions
-
678
-
678



At 31 December 2024

63,985
287,409
8,312
359,706



Depreciation


At 1 January 2024
63,926
271,512
6,532
341,970


Charge for the year on owned assets
59
8,852
971
9,882



At 31 December 2024

63,985
280,364
7,503
351,852



Net book value



At 31 December 2024
-
7,045
809
7,854



At 31 December 2023
59
15,219
1,780
17,058

Page 6

 
DE FACTO SOFTWARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Debtors

2024
2023
£
£


Trade debtors
357,824
398,738

Other debtors
3,300
3,300

Prepayments and accrued income
32,542
35,086

393,666
437,124



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other loans
28,451
65,996

Payments received on account
10,547
11,226

Trade creditors
31,484
5,814

Other taxation and social security
135,438
132,879

Accruals and deferred income
581,586
656,699

787,506
872,614



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
-
28,450

-
28,450


Page 7

 
DE FACTO SOFTWARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Other loans
28,451
65,996


28,451
65,996

Amounts falling due 1-2 years

Other loans
-
28,450


-
28,450



28,451
94,446



9.


Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
22,350
44,700

Later than 1 year and not later than 5 years
-
22,350

22,350
67,050

 
Page 8