Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302024-09-30truefalse2023-09-29false62012 - Business and domestic software development 62020 - Information technology consultancy activities1falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 15173833 2023-09-28 15173833 2023-09-29 2024-09-30 15173833 2022-10-01 2023-09-28 15173833 2024-09-30 15173833 c:Director1 2023-09-29 2024-09-30 15173833 d:OfficeEquipment 2023-09-29 2024-09-30 15173833 d:OfficeEquipment 2024-09-30 15173833 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-09-29 2024-09-30 15173833 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-09-29 2024-09-30 15173833 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-09-30 15173833 d:CurrentFinancialInstruments 2024-09-30 15173833 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 15173833 d:ShareCapital 2024-09-30 15173833 d:SharePremium 2024-09-30 15173833 d:RetainedEarningsAccumulatedLosses 2024-09-30 15173833 c:FRS102 2023-09-29 2024-09-30 15173833 c:AuditExempt-NoAccountantsReport 2023-09-29 2024-09-30 15173833 c:FullAccounts 2023-09-29 2024-09-30 15173833 c:PrivateLimitedCompanyLtd 2023-09-29 2024-09-30 15173833 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2023-09-29 2024-09-30 15173833 2 2023-09-29 2024-09-30 15173833 e:PoundSterling 2023-09-29 2024-09-30 iso4217:GBP xbrli:pure

Registered number: 15173833









TOP INNOVATIONS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 SEPTEMBER 2024

 
TOP INNOVATIONS LIMITED
REGISTERED NUMBER: 15173833

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024

2024
Note
£

Fixed assets
  

Intangible assets
 4 
172

Tangible assets
 5 
2,593

  
2,765

Current assets
  

Debtors: amounts falling due within one year
 6 
901,924

Cash at bank and in hand
 7 
822,058

  
1,723,982

Creditors: amounts falling due within one year
 8 
(825,288)

Net current assets
  
 
 
898,694

Total assets less current liabilities
  
901,459

  

Net assets
  
901,459


Capital and reserves
  

Called up share capital 
  
220

Share premium account
  
891,430

Profit and loss account
  
9,809

  
901,459


The director considers 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 director acknowledges his 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.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 June 2025.


Page 1

 
TOP INNOVATIONS LIMITED
REGISTERED NUMBER: 15173833
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2024



P M Zachariades
Director

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

Page 2

 
TOP INNOVATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

1.


General information

Top Innovations Limited is private limited by shares and incorporated in England and Wales (Registered Number: 15173833). The registered office is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH                                                                                                                                                                                                                                          .                                                                                                                                                                                              The financial statements are presented in Sterling. which is the functional currency of the company.

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.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
TOP INNOVATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 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

Interest income

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

 
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.

 
2.6

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.


Page 4

 
TOP INNOVATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
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.

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.

 
2.8

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:

Office equipment
-
33%
Straight Line basis

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.

 
2.9

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.

 
2.10

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.

 
2.11

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.

Page 5

 
TOP INNOVATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

3.


Employees

The average monthly number of employees, including directors, during the period was 1.


4.


Intangible assets



Digital Assets

£



Cost


Additions
497,028


Disposals
(496,856)



At 30 September 2024

172






Net book value



At 30 September 2024
172




5.


Tangible fixed assets





Office equipment

£



Cost or valuation


Additions
2,765



At 30 September 2024

2,765



Depreciation


Charge for the period on owned assets
172



At 30 September 2024

172



Net book value



At 30 September 2024
2,593

Page 6

 
TOP INNOVATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

6.


Debtors

2024
£


Other debtors
452,359

Prepayments and accrued income
449,565

901,924



7.


Cash and cash equivalents

2024
£

Cash at bank and in hand
822,058

822,058



8.


Creditors: Amounts falling due within one year

2024
£

Trade creditors
76,790

Corporation tax
1,680

Other taxation and social security
14,115

Other creditors
70,457

Accruals and deferred income
662,246

825,288


 
Page 7