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Registered number: 09173112









ENVISIA LEARNING LIMITED








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
ENVISIA LEARNING LIMITED
 
 
COMPANY INFORMATION


Directors
M S Pocock 
A G Parkinson 
K M Nowack 




Registered number
09173112



Registered office
1010 Cambourne Business Park

Great Cambourne

Cambridge

CB23 6DP




Accountants
Lakin Rose Limited
Chartered Accountants

Cambridge House

Camboro Business Park

Girton

Cambridge

CB3 0QH





 
ENVISIA LEARNING LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 8

 
ENVISIA LEARNING LIMITED
REGISTERED NUMBER: 09173112

BALANCE SHEET
AS AT 31 DECEMBER 2024

As restated
2024
2023
                                                                          Note
£
£

Fixed assets
  

Tangible assets
 5 
15,035
21,618

  
15,035
21,618

Current assets
  

Debtors: amounts falling due within one year
 6 
239,296
454,952

Cash at bank and in hand
  
1,127,566
1,013,730

  
1,366,862
1,468,682

Creditors: amounts falling due within one year
 7 
(691,542)
(830,141)

Net current assets
  
 
 
675,320
 
 
638,541

Total assets less current liabilities
  
690,355
660,159

Provisions for liabilities
  

Deferred tax
  
(3,094)
(4,685)

  
 
 
(3,094)
 
 
(4,685)

Net assets
  
687,261
655,474


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
687,260
655,473

  
687,261
655,474


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 comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
ENVISIA LEARNING LIMITED
REGISTERED NUMBER: 09173112
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 February 2025.




A G Parkinson
Director

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

 
ENVISIA LEARNING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Envisia Learning Limited is a private company limited by shares and is incorporated in England and Wales. The address of the registered office is 1010 Cambourne Business Park, Great Cambourne, Cambridge, CB23 6DP.

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

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

 
ENVISIA LEARNING 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:

Office equipment
-
33%
straight line

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

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is Pound Sterling.

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.

 
2.5

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 4

 
ENVISIA LEARNING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 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 balance sheet 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 balance sheet 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 balance sheet date.


 
2.7

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:

Intellectual property
-
5
years
Customer records
-
5
years


3.


Employees

The average monthly number of employees, including directors, during the year was 16 (2023 - 13).

Page 5

 
ENVISIA LEARNING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Intangible assets




Intellectual property
Customer records
Total

£
£
£



Cost


At 1 January 2024
31,000
14,000
45,000



At 31 December 2024

31,000
14,000
45,000



Amortisation


At 1 January 2024
31,000
14,000
45,000



At 31 December 2024

31,000
14,000
45,000



Net book value



At 31 December 2024
-
-
-



At 31 December 2023
-
-
-



Page 6

 
ENVISIA LEARNING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 January 2024
50,070


Additions
3,929


Disposals
(4,963)



At 31 December 2024

49,036



Depreciation


At 1 January 2024
28,452


Charge for the year on owned assets
10,512


Disposals
(4,963)



At 31 December 2024

34,001



Net book value



At 31 December 2024
15,035



At 31 December 2023
21,618


6.


Debtors

2024
2023
£
£


Trade debtors
164,982
364,196

Other debtors
73,640
90,214

Prepayments and accrued income
674
542

239,296
454,952


Page 7

 
ENVISIA LEARNING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Creditors: Amounts falling due within one year

As restated
2024
2023
£
£

Trade creditors
16,797
23,810

Amounts owed to group undertakings
547,237
681,244

Other taxation and social security
40,473
67,735

Other creditors
3,911
4,449

Accruals and deferred income
83,124
52,903

691,542
830,141



8.


Prior year adjustment

The company has changed its revenue recognition policy to recognise licence fee income in line with usage by customers, previously this income was recognised on sale and a prior year adjustment has therefore been made.  
The financial effect on the 2023 accounts is an increase in accruals and deferred income of £40,903 and a decrease in the profit after tax for the year of £8,933. The net effect on the opening reserves at 1 January 2024 is a decrease of £40,903.


9.


Pension commitments

The company contributes to employees' personal pension schemes. The pension charge for the year amounted to £11,532 (2023 - £11,281). There were outstanding contributions payable to the schemes at the year end of £2,272 (2023 - £2,263). 


10.


Parent undertaking

The company's parent undertaking is Envisia Learning Inc, a company registered in the USA. The company's registered office is 1336 Moorpark Road 136, Thousand Oaks, CA 91360.
 
Page 8