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Registered number: 02447570










INTERNATIONAL CONSUMER RESEARCH AND TESTING LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
INTERNATIONAL CONSUMER RESEARCH AND TESTING LIMITED
REGISTERED NUMBER: 02447570

CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

As restated
2024
2023
Note

Fixed assets
  

Tangible assets
 4 
4,353
2,533

  
4,353
2,533

Current assets
  

Work in progress
 6 
68,267
21,530

Debtors: amounts falling due within one year
 7 
2,640,550
2,741,529

Cash at bank and in hand
  
1,456,034
1,178,714

  
4,164,851
3,941,773

Creditors: amounts falling due within one year
 8 
(3,010,530)
(2,842,917)

Net current assets
  
 
 
1,154,321
 
 
1,098,856

Total assets less current liabilities
  
1,158,674
1,101,389

  

Net assets
  
1,158,674
1,101,389


Capital and reserves
  

Called up share capital 
 9 
536,531
536,531

Profit and loss account
  
622,143
564,858

  
1,158,674
1,101,389


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 consolidated 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 12 June 2025.




A Hoult
Director

The notes on pages 4 to 13 form part of these financial statements.

Page 1

 
INTERNATIONAL CONSUMER RESEARCH AND TESTING LIMITED
REGISTERED NUMBER: 02447570

COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
As restated 2023
Note

Fixed assets
  

Tangible assets
 4 
4,353
2,533

Investments
 5 
25,000
25,000

  
29,353
27,533

Current assets
  

Debtors: amounts falling due within one year
 7 
2,626,809
2,724,598

Cash at bank and in hand
  
1,430,015
1,087,614

  
4,056,824
3,812,212

Creditors: amounts falling due within one year
 8 
(2,949,009)
(2,762,116)

Net current assets
  
 
 
1,107,815
 
 
1,050,096

Total assets less current liabilities
  
1,137,168
1,077,629

  

  

Net assets excluding pension asset
  
1,137,168
1,077,629

Net assets
  
1,137,168
1,077,629


Capital and reserves
  

Called up share capital 
 9 
536,531
536,531

Profit and loss account brought forward
  
541,098
496,715

Profit for the year
  
59,539
44,383

Profit and loss account carried forward
  
600,637
541,098

  
1,137,168
1,077,629


Page 2

 
INTERNATIONAL CONSUMER RESEARCH AND TESTING LIMITED
REGISTERED NUMBER: 02447570

COMPANY STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024

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 consolidated 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 12 June 2025.


A Hoult
Director

The notes on pages 4 to 13 form part of these financial statements.

Page 3

 
INTERNATIONAL CONSUMER RESEARCH AND TESTING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

International Consumer Research and Testing Limited is a private company limited by shares, registered in England and Wales. The address of the registered office is Oxford House, 49a Oxford Road, London, United Kingdom, N4 3EY. The company is part of a group.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The consolidated 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

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.



 
2.3

Going concern

The accounts have been prepared on a going concern basis which assumes that the group will continue to trade. The validity of this assumption is dependent on continuing financial support being made available by ICRT members in the form of membership fees.  The Directors anticipate membership fees to continue at their current rate reflecting the organisation's importance to their members' publication services. The Directors are of the opinion that the Group has adequate resources to continue its operations for the foreseeable future and therefore they continue to adopt the going concern basis in preparing these financial statements.

Page 4

 
INTERNATIONAL CONSUMER RESEARCH AND TESTING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is Euros.

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 Consolidated 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'.

On consolidation, the results of overseas operations are translated into Euros at rates approximating to those ruling when the transactions took place. All assets and liabilities of overseas operations are translated at the rate ruling at the reporting date. Exchange differences arising on translating the opening net assets at opening rate and the results of overseas operations at actual rate are recognised in other comprehensive income.

 
2.5

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group 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 Group 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.

Page 5

 
INTERNATIONAL CONSUMER RESEARCH AND TESTING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.6

Operating leases: the Group as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
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 Consolidated Statement of Comprehensive Income in the same period as the related expenditure.

 
2.8

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group 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 Group in independently administered funds.

 
2.9

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 and the Group operate and generate income.


 
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.

Page 6

 
INTERNATIONAL CONSUMER RESEARCH AND TESTING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.10
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 and fittings
-
3-5 years straight line
Office equipment
-
3 years 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.

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.12

Stocks and work in progress

Stocks and work in progress are stated at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

 
2.13

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.

 
2.14

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.

 
2.15

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.

 
2.16

Financial instruments


The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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.
 
Page 7

 
INTERNATIONAL CONSUMER RESEARCH AND TESTING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.16
Financial instruments (continued)


Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.
Classification of 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 deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:



Group
Group
Company
Company
        2024
        2023
        2024
        2023
            No.
            No.
            No.
            No.









Directors
6
6
6
6



Employees
10
10
6
6

16
16
12
12

Page 8

 
INTERNATIONAL CONSUMER RESEARCH AND TESTING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Tangible fixed assets

Group






Fixtures and fittings
Office equipment
Total




Cost or valuation


At 1 January 2024
4,405
49,140
53,545


Additions
-
4,136
4,136



At 31 December 2024

4,405
53,276
57,681



Depreciation


At 1 January 2024
4,239
46,773
51,012


Charge for the year on owned assets
166
2,150
2,316



At 31 December 2024

4,405
48,923
53,328



Net book value



At 31 December 2024
-
4,353
4,353



At 31 December 2023
166
2,367
2,533

Page 9

 
INTERNATIONAL CONSUMER RESEARCH AND TESTING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

           4.Tangible fixed assets (continued)


Company






Fixtures and fittings
Office equipment
Total


Cost or valuation


At 1 January 2024
4,405
49,140
53,545


Additions
-
4,136
4,136



At 31 December 2024

4,405
53,276
57,681



Depreciation


At 1 January 2024
4,239
46,773
51,012


Charge for the year on owned assets
166
2,150
2,316



At 31 December 2024

4,405
48,923
53,328



Net book value



At 31 December 2024
-
4,353
4,353



At 31 December 2023
166
2,367
2,533






Page 10

 
INTERNATIONAL CONSUMER RESEARCH AND TESTING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Fixed asset investments

Company





Investments in subsidiary companies




Cost or valuation


At 1 January 2024
25,000



At 31 December 2024
25,000





Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Registered office

Class of shares

Holding

ICRT GmbH
c/o Regus, Kokkolastrasse 5-7, 40882 Ratingen, Germany
Ordinary
100%

The aggregate of the share capital and reserves as at 31 December 2024 and the profit or loss for the year ended on that date for the subsidiary undertaking were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)

ICRT GmbH
46,505
(2,255)


6.


Work in progress

Group
Group
Company
Company
2024
2023
2024
2023

Work in progress
68,267
21,530
-
-

68,267
21,530
-
-


The difference between purchase price or production cost of stocks and their replacement cost is not material.

Page 11

 
INTERNATIONAL CONSUMER RESEARCH AND TESTING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Debtors

Group
Group
Company
Company
2024
2023
2024
2023


Trade debtors
2,260,570
1,794,002
2,256,210
1,778,848

Other debtors
19,224
13,606
10,553
12,498

Prepayments and accrued income
360,756
933,921
360,046
933,252

2,640,550
2,741,529
2,626,809
2,724,598



8.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2024
2023
2024
2023

Payments received on account
70,432
49,432
-
-

Trade creditors
2,466,952
1,783,865
2,459,294
1,783,752

Amounts owed to group undertakings
-
-
3,878
-

Corporation tax
20,099
13,195
20,099
13,195

Other taxation and social security
88,511
90,857
86,506
90,857

Other creditors
24,355
59,634
17,572
28,378

Accruals and deferred income
340,181
845,934
361,660
845,934

3,010,530
2,842,917
2,949,009
2,762,116


Page 12

 
INTERNATIONAL CONSUMER RESEARCH AND TESTING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

9.


Share capital

2024
2023
Allotted, called up and fully paid



6 (2023 - 6) Ordinary A shares of 60,000.00 each
360,000
360,000
17 (2023 - 17) Ordinary B shares of 10,371.00 each
176,307
176,307
14 (2023 - 14) Ordinary C shares of 16.00 each
224
224

536,531

536,531



10.


Pension commitments

The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group  in an independently administered fund. The pension cost charge represents contributions payable by the Group  to the fund and amounted to €61,720 (2023 - €50,019). Contributions totalling €8,928 (2023 - €Nil) were payable to the fund at the reporting date and are included in creditors.


11.


Prior year adjustment

The financial statements include a prior year adjustment of the debtors and creditors. On 20 December 2023 two members changed their memberships from B to C shares. The share capital was correct as at 31 December 2023 however the members did not pay or receive money for this membership change until 2024. Therefore relevant debtors and creditors should have been included in the 2023 accounts.


12.


Controlling party

There is no single ultimate controlling party of the Group.


13.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 18 June 2025 by Sara Brown (Senior Statutory Auditor) on behalf of Kings CAP Ltd.


Page 13