Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302024-09-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.192023-10-01truefalse17truefalse 03669825 2023-10-01 2024-09-30 03669825 2022-10-01 2023-09-30 03669825 2024-09-30 03669825 2023-09-30 03669825 2022-10-01 03669825 c:Director1 2023-10-01 2024-09-30 03669825 c:Director2 2023-10-01 2024-09-30 03669825 d:PlantMachinery 2023-10-01 2024-09-30 03669825 d:PlantMachinery 2024-09-30 03669825 d:PlantMachinery 2023-09-30 03669825 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 03669825 d:FurnitureFittings 2023-10-01 2024-09-30 03669825 d:FurnitureFittings 2024-09-30 03669825 d:FurnitureFittings 2023-09-30 03669825 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 03669825 d:ComputerEquipment 2023-10-01 2024-09-30 03669825 d:ComputerEquipment 2024-09-30 03669825 d:ComputerEquipment 2023-09-30 03669825 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 03669825 d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 03669825 d:PatentsTrademarksLicencesConcessionsSimilar 2024-09-30 03669825 d:PatentsTrademarksLicencesConcessionsSimilar 2023-09-30 03669825 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-09-30 03669825 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-09-30 03669825 d:Goodwill 2024-09-30 03669825 d:Goodwill 2023-09-30 03669825 d:CurrentFinancialInstruments 2024-09-30 03669825 d:CurrentFinancialInstruments 2023-09-30 03669825 d:Non-currentFinancialInstruments 2024-09-30 03669825 d:Non-currentFinancialInstruments 2023-09-30 03669825 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 03669825 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 03669825 d:Non-currentFinancialInstruments d:AfterOneYear 2024-09-30 03669825 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 03669825 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-09-30 03669825 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-09-30 03669825 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-09-30 03669825 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-09-30 03669825 d:ShareCapital 2024-09-30 03669825 d:ShareCapital 2023-09-30 03669825 d:SharePremium 2024-09-30 03669825 d:SharePremium 2023-09-30 03669825 d:RetainedEarningsAccumulatedLosses 2024-09-30 03669825 d:RetainedEarningsAccumulatedLosses 2023-09-30 03669825 c:OrdinaryShareClass1 2023-10-01 2024-09-30 03669825 c:OrdinaryShareClass1 2024-09-30 03669825 c:FRS102 2023-10-01 2024-09-30 03669825 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 03669825 c:FullAccounts 2023-10-01 2024-09-30 03669825 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 03669825 d:PatentsTrademarksLicencesConcessionsSimilar d:ExternallyAcquiredIntangibleAssets 2023-10-01 2024-09-30 03669825 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2023-10-01 2024-09-30 03669825 d:Goodwill d:ExternallyAcquiredIntangibleAssets 2023-10-01 2024-09-30 03669825 d:ExternallyAcquiredIntangibleAssets 2023-10-01 2024-09-30 03669825 d:AcceleratedTaxDepreciationDeferredTax 2024-09-30 03669825 d:AcceleratedTaxDepreciationDeferredTax 2023-09-30 03669825 d:TaxLossesCarry-forwardsDeferredTax 2024-09-30 03669825 d:TaxLossesCarry-forwardsDeferredTax 2023-09-30 03669825 d:Goodwill d:OwnedIntangibleAssets 2023-10-01 2024-09-30 03669825 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2023-10-01 2024-09-30 03669825 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-10-01 2024-09-30 03669825 e:PoundSterling 2023-10-01 2024-09-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 03669825










CAPTURE LIMITED








UNAUDITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
CAPTURE LIMITED
 

 
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

The directors present their report and the financial statements for the year ended 30 September 2024.

Principal activity

Capture Ltd is an innovative technology and services company, whose principal activity continues to be focused on the provision of web based, enterprise digital asset management systems. Trusted by some of the world’s leading brands, we help our customers manage the whole life cycle of their media through a combination of market leading software, expert services and storage solutions. 

Business review

Capture goes through cycles of self-investing profits in product and team, in order to reach our long-term growth goals, and to be a company offering an outstanding platform and services. The financial period covered in these reports reflects a period of investment, with expected financial outcomes.
During the year under review, the Company's core priorities remained as last year on revenue, product, people and processes. 
These initiatives are ongoing, however we saw continued revenue growth and improvements to internal process in how clients are supported and projects delivered. 
Capture Ltd is committed to the ongoing development of its market leading product portfolio and invested more than £220,000 in development projects. 
These and other activities provide a great platform to both support our customers and grow our blue chip client base. The Directors are confident that significant progress will continue to be made in the next year. 

Directors

The directors who served during the year were:

A J G Enock 
N J B Caw 

Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





N J B Caw
Director

Date: 26 June 2025

Page 1

 
CAPTURE LIMITED
REGISTERED NUMBER: 03669825

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
437,385
430,246

Tangible assets
 5 
30,980
59,621

  
468,365
489,867

Current assets
  

Debtors: amounts falling due within one year
 6 
299,564
354,420

Cash at bank and in hand
 7 
159,322
160,551

  
458,886
514,971

Current liability
  

Creditors: amounts falling due within one year
 8 
(643,485)
(636,270)

Net current liabilities
  
 
 
(184,599)
 
 
(121,299)

Total assets less current liabilities
  
283,766
368,568

Creditors: amounts falling due after more than one year
 9 
(20,833)
(70,833)

Provisions for liabilities
  

Deferred tax
 11 
(102,218)
(108,866)

  
 
 
(102,218)
 
 
(108,866)

Net assets
  
160,715
188,869


Capital and reserves
  

Called up share capital 
 12 
152
152

Share premium account
  
99,948
99,948

Profit and loss account
  
60,615
88,769

  
160,715
188,869


Page 2

 
CAPTURE LIMITED
REGISTERED NUMBER: 03669825

BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 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 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 by: 




N J B Caw
Director

Date: 26 June 2025

The notes on pages 4 to 12 form part of these financial statements.

Page 3

 
CAPTURE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Capture Limited is a private company, limited by share capital and incorporated in England and Wales.
The principal activities of the Company are the development and sale of image library management systems, and management services for image collections.
The Company's registered office is C/O James Cowper Kreston, 8th Floor South, Reading Bridge House, George Street, Reading, Berkshire, RG 18LS.

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.

 
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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Page 4

 
CAPTURE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.3

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.

 
2.4

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:

Plant & machinery
-
25/33%
Fixtures & fittings
-
20%
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.

 
2.5

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.

 
2.6

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.

Page 5

 
CAPTURE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 6

 
CAPTURE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.13

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.


 
2.14

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 17 (2023 - 19).

Page 7

 
CAPTURE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


Intangible assets




Website development
Development
Goodwill
Total

£
£
£
£



Cost


At 1 October 2023
7,640
4,052,594
1,000
4,061,234


Additions
-
222,815
-
222,815



At 30 September 2024

7,640
4,275,409
1,000
4,284,049



Amortisation


At 1 October 2023
637
3,629,351
1,000
3,630,988


Charge for the year on owned assets
1,910
213,766
-
215,676



At 30 September 2024

2,547
3,843,117
1,000
3,846,664



Net book value



At 30 September 2024
5,093
432,292
-
437,385



At 30 September 2023
7,003
423,243
-
430,246



Page 8

 
CAPTURE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


Tangible fixed assets





Plant & machinery
Fixtures & fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 October 2023
29,579
11,117
378,695
419,391


Additions
219
-
5,434
5,653


Disposals
(1,297)
(11,117)
-
(12,414)



At 30 September 2024

28,501
-
384,129
412,630



Depreciation


At 1 October 2023
29,579
9,861
320,330
359,770


Charge for the year on owned assets
42
1,256
32,996
34,294


Disposals
(1,297)
(11,117)
-
(12,414)



At 30 September 2024

28,324
-
353,326
381,650



Net book value



At 30 September 2024
177
-
30,803
30,980



At 30 September 2023
-
1,256
58,365
59,621


6.


Debtors

2024
2023
£
£


Trade debtors
219,515
240,904

Other debtors
11,082
9,571

Prepayments and accrued income
47,594
58,056

Tax recoverable
21,373
45,889

299,564
354,420



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
159,322
160,551

159,322
160,551


Page 9

 
CAPTURE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

8.


Creditors: amounts falling due within one year

2024
2023
£
£

Bank loans
50,000
50,000

Trade creditors
64,467
71,119

Other taxation and social security
48,623
68,207

Other creditors
23,978
25,208

Accruals and deferred income
456,417
421,736

643,485
636,270



9.


Creditors: amounts falling due after more than one year

2024
2023
£
£

Bank loans
20,833
70,833

20,833
70,833



10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
50,000
50,000


50,000
50,000

Amounts falling due 1-2 years

Bank loans
20,833
50,000

Bank loans
-
20,833

-
20,833


Page 10

 
CAPTURE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

11.


Deferred taxation




2024
2023


£

£






At beginning of year
(108,866)
(116,235)


Charged to profit or loss
6,648
7,369



At end of year
(102,218)
(108,866)

2024
2023
£
£


Accelerated capital allowances
(115,551)
(122,200)

Tax losses carried forward
13,333
13,334

(102,218)
(108,866)


12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



15,159 (2023 - 15,159) Ordinary shares of £0.01 each
152
152


Page 11

 
CAPTURE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

13.


Share options

Share options as at  30 September 2024: there were a total of 3,529 share options:
On 17 May 2013 the Company granted 800 share options to 11 employees in respect of Ordinary £0.01 shares. All 800 of these share options have lapsed. On 19 November 2015 the Company granted 40 share options to 1 employee in respect of Ordinary £0.01 shares. On 21 September 2017 the Company granted 420 share options to 5 employees in respect of Ordinary shares of £0.01 each, 320 of these share options have lapsed and 20 of the remaining share options no longer meet the working time requirement for EMI and have, therefore, become unapproved share options.  The exercise price of the granted options was £4.17. All share options have a maximum term of 10 years from the grant date.  All share options vest at various dates throughout their term, with all share options vesting in the event of an acquisition of the Company.
On 22 November 2019 the Company granted 1,795 share options to 1 employee in respect of Ordinary Shares of £0.01 shares.  The exercise price of the granted options was £13.924.  All options have a maximum term of 10 years from the grant date.  All share options vest at various dates throughout their term, with all share options vesting in the event of an acquisition of the Company. These share options relate to a person who is no longer an employee and have, therefore, become unapproved share options.
The Company also granted 340 unapproved share options on 22 November 2019 to a non-executive director and a freelancer in respect of Ordinary shares of £0.01 each.  The exercise price of all the granted options was £13.924.  There is no specified maximum term for these options.  All share options vest at various dates throughout their term, with all share options vesting in the event of an acquisition of the Company.  The non-executive director is no longer a director of the company.
On 5th January 2023 the Company granted 1,544 share options to 3 employees in respect of Ordinary Shares of £0.01 shares.  290 of these share options have lapsed. The exercise price of the granted options was £25.9094.  All options have a maximum term of 10 years from the grant date.  All share options vest at various dates throughout their term, with all share options vesting in the event of an acquisition of the Company.
The Directors consider that the share-based payment charge in respect of the above is immaterial to the accounts for both the years ended 30 September 2024 and 30 September 2023.  No share-based payment charge has, therefore, been included in the accounts.


14.


Contingent liabilities

The Company had an overdraft facility during the year. The balance at the year end was £nil overdrawn (2023: £nil). There is a fixed and floating charge over the Company's assets in respect of this facility.


15.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £21,013 (2023: £20,990). 


16.


Controlling party

The Company is controlled by A J G Enock, a director of the Company, by reason of her shareholdings in the Company.


Page 12