Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2023-09-18Business and domestic software developmenttruefalse3true 15145317 2023-09-17 15145317 2023-09-18 2024-12-31 15145317 2022-09-18 1900-03-01 15145317 2024-12-31 15145317 c:Director1 2023-09-18 2024-12-31 15145317 d:ComputerEquipment 2023-09-18 2024-12-31 15145317 d:ComputerEquipment 2024-12-31 15145317 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-09-18 2024-12-31 15145317 d:PatentsTrademarksLicencesConcessionsSimilar 2023-09-18 2024-12-31 15145317 d:PatentsTrademarksLicencesConcessionsSimilar 2024-12-31 15145317 d:CurrentFinancialInstruments 2024-12-31 15145317 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 15145317 d:ShareCapital 2024-12-31 15145317 d:SharePremium 2024-12-31 15145317 d:RetainedEarningsAccumulatedLosses 2024-12-31 15145317 c:FRS102 2023-09-18 2024-12-31 15145317 c:AuditExempt-NoAccountantsReport 2023-09-18 2024-12-31 15145317 c:FullAccounts 2023-09-18 2024-12-31 15145317 c:PrivateLimitedCompanyLtd 2023-09-18 2024-12-31 15145317 d:PatentsTrademarksLicencesConcessionsSimilar d:ExternallyAcquiredIntangibleAssets 2023-09-18 2024-12-31 15145317 2 2023-09-18 2024-12-31 15145317 e:PoundSterling 2023-09-18 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 15145317









NEAR ONE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DEC 2024

 
NEAR ONE LIMITED
REGISTERED NUMBER: 15145317

BALANCE SHEET
AS AT 31 DEC 2024

2024
Note
£

Fixed assets
  

Intangible assets
 4 
42,987,454

Tangible assets
 5 
35,467

  
43,022,921

Current assets
  

Debtors: amounts falling due within one year
 6 
408,188

Current asset investments
  
2,396,002

Cash at bank and in hand
 8 
11,341,073

  
14,145,263

Creditors: amounts falling due within one year
 9 
(1,093,471)

Net current assets
  
 
 
13,051,792

Total assets less current liabilities
  
56,074,713

  

Net assets
  
56,074,713


Capital and reserves
  

Called up share capital 
  
10,000

Share premium account
  
86,418,189

Profit and loss account
  
(30,353,476)

  
56,074,713


Page 1

 
NEAR ONE LIMITED
REGISTERED NUMBER: 15145317
    
BALANCE SHEET (CONTINUED)
AS AT 31 DEC 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 period 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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 on 17 Jun 2025.




A Labanouski
Director

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

Page 2

 
NEAR ONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DEC 2024

1.


General information

Near One Limited is a private company, limited by shares and incorporated in England and Wales. The company's registered office address is 101 New Cavendish Street, 1st floor South, London. United Kingdom, W1W 6XH.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

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

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

Interest income

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

Page 3

 
NEAR ONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DEC 2024

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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.
 
Intangible assets consisting of digital assets are determined to have an indefinite useful economic life. These assets are therefore not amortised but reviewed and tested for impairment on a regular basis. FRS 102 states that all intangible assets are deemed to have a finite life. Therefore to apply indefinite life requires a true and fair override of FRS 102. Indefinite life best reflect the substance of digital assets.



 
2.6

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:

Computer equipment
-
33%

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.

Page 4

 
NEAR ONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DEC 2024

2.Accounting policies (continued)

 
2.7

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.8

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.

 
2.9

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.

 
2.10

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.


3.


Employees

The average monthly number of employees during the period was as follows:


     31 December
        2024
            No.






Employee
3

Page 5

 
NEAR ONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DEC 2024

4.


Intangible assets



Digital Assets

£



Cost


Additions
75,007,544


Disposals
(14,595,973)



At 31 Dec 2024

60,411,571



Amortisation


Impairment charge
17,424,117



At 31 Dec 2024

17,424,117



Net book value



At 31 Dec 2024
42,987,454




5.


Tangible fixed assets





Computer equipment

£



Cost or valuation


Additions
41,560



At 31 Dec 2024

41,560



Depreciation


Charge for the period on owned assets
6,093



At 31 Dec 2024

6,093



Net book value



At 31 Dec 2024
35,467

Page 6

 
NEAR ONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DEC 2024

6.


Debtors

2024
£


Trade debtors
5,594

Amounts owed by group undertakings
27,256

Other debtors
132,034

Prepayments and accrued income
243,304

408,188



7.


Current asset investments

2024
£

Unlisted investments
2,396,002

2,396,002



8.


Cash and cash equivalents

2024
£

Cash at bank and in hand
11,341,073

11,341,073



9.


Creditors: Amounts falling due within one year

2024
£

Trade creditors
150,924

Amounts owed to group undertakings
179

Other taxation and social security
95,715

Other creditors
16,585

Accruals and deferred income
830,068

1,093,471


Page 7

 
NEAR ONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DEC 2024

10.


Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in independently registered funds. The pension cost charge represents contributions payable by the Company to the funds and amounted to £1,651. Contributions totalling £700 were payable to the funds at the reporting date and are included in creditors.


11.


Related party transactions

The company has taken advantage of the exemption under FRS 102 Section 1A from disclosing transactions with wholly owned group undertakings.


12.


Controlling party

The company's immediate and ultimate parent company is Near One Holding limited, a private limited liability company registered under England and Wales and the company number is 15430912 and having its registered office at 101 New Cavendish Street, London, W1W 6XH.

 
Page 8