Caseware UK (AP4) 2024.0.164 2024.0.164 2025-01-312025-01-31false2024-02-01sales of software as a service67falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03899549 2024-02-01 2025-01-31 03899549 2023-02-01 2024-01-31 03899549 2025-01-31 03899549 2024-01-31 03899549 c:Director1 2024-02-01 2025-01-31 03899549 d:ComputerEquipment 2024-02-01 2025-01-31 03899549 d:ComputerEquipment 2025-01-31 03899549 d:ComputerEquipment 2024-01-31 03899549 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-02-01 2025-01-31 03899549 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2025-01-31 03899549 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-31 03899549 d:CurrentFinancialInstruments 2025-01-31 03899549 d:CurrentFinancialInstruments 2024-01-31 03899549 d:CurrentFinancialInstruments 1 2025-01-31 03899549 d:CurrentFinancialInstruments 1 2024-01-31 03899549 d:Non-currentFinancialInstruments 2025-01-31 03899549 d:Non-currentFinancialInstruments 2024-01-31 03899549 d:CurrentFinancialInstruments d:WithinOneYear 2025-01-31 03899549 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 03899549 d:Non-currentFinancialInstruments d:AfterOneYear 2025-01-31 03899549 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 03899549 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2025-01-31 03899549 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-01-31 03899549 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2025-01-31 03899549 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-01-31 03899549 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2025-01-31 03899549 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-01-31 03899549 d:ShareCapital 2025-01-31 03899549 d:ShareCapital 2024-01-31 03899549 d:SharePremium 2025-01-31 03899549 d:SharePremium 2024-01-31 03899549 d:RetainedEarningsAccumulatedLosses 2025-01-31 03899549 d:RetainedEarningsAccumulatedLosses 2024-01-31 03899549 c:FRS102 2024-02-01 2025-01-31 03899549 c:AuditExempt-NoAccountantsReport 2024-02-01 2025-01-31 03899549 c:FullAccounts 2024-02-01 2025-01-31 03899549 c:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 03899549 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2024-02-01 2025-01-31 03899549 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2024-02-01 2025-01-31 03899549 f:PoundSterling 2024-02-01 2025-01-31 iso4217:GBP xbrli:pure

Registered number: 03899549









THE BUSINESS SOFTWARE CENTRE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2025

 
THE BUSINESS SOFTWARE CENTRE LIMITED
REGISTERED NUMBER: 03899549

BALANCE SHEET
AS AT 31 JANUARY 2025

2025
2024
Note
£
£

Fixed assets
  

Intangible assets
 4 
1,112,057
1,119,005

Tangible assets
 5 
258
555

  
1,112,315
1,119,560

Current assets
  

Debtors: amounts falling due within one year
 6 
75,687
92,354

Cash at bank and in hand
 7 
38
685

  
75,725
93,039

Creditors: amounts falling due within one year
 8 
(405,090)
(401,334)

Net current liabilities
  
 
 
(329,365)
 
 
(308,295)

Total assets less current liabilities
  
782,950
811,265

Creditors: amounts falling due after more than one year
 9 
(403,417)
(372,034)

  

Net assets
  
379,533
439,231

Page 1

 
THE BUSINESS SOFTWARE CENTRE LIMITED
REGISTERED NUMBER: 03899549
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2025

2025
2024
Note
£
£

Capital and reserves
  

Called up share capital 
  
68,641
68,641

Share premium account
  
1,200,260
1,200,260

Profit and loss account
  
(889,368)
(829,670)

  
379,533
439,231


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: 




................................................
P A Hames
Director

Date: 18 July 2025

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
THE BUSINESS SOFTWARE CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

1.


General information

The Business Software Centre Limited (the Company) is a company incorporated in the United Kingdom under the Companies Act. The Company is a private company limited by shares and is registered in England and Wales.
The principal activity of the company is sales of software as a service (SaaS).
The address of the Company’s registered office is The Square, Basing View, Basingstoke, Hampshire, RG21 4EB. 

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

Going concern

The company has recently expanded its product base and is developing a broader distribution channel as a result we expect to see revenue grow in the medium term. We continued to apply prudent cost management and we believe we can exploit the market opportunity and strengthen our financialperformance. The directors believe that the company continues to be a going concern and have prepared the financial statements on this basis and will continue to monitor closely the company’s position on behalf of the shareholders, employees and outstanding creditors.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP and the financial statements are rounded to the nearest pound (£).

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.

Page 3

 
THE BUSINESS SOFTWARE CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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.

 
2.6

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

 
2.7

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.

 
2.8

Borrowing costs

Borrowing costs are recognised in the year in which they are incurred. 

Page 4

 
THE BUSINESS SOFTWARE CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

2.Accounting policies (continued)

 
2.9

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.

 
2.10

Taxation

Tax is recognised as incurred except when that charge attributable to an item of other comprehensive income or to an item recognised directly in equity. In these cases the tax charge is offset against the respective other comprehensive income or equity.
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.

 
2.11

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.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

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.

Capitalised development costs have been amortised over 15 years on a straight line basis.

 
2.12

Development costs

Development costs have been capitalised and amortised. Development costs include research and development undertaken by the company in order to continue to develop its products.

 
2.13

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 5

 
THE BUSINESS SOFTWARE CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

2.Accounting policies (continued)


2.13
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:

Computer equipment
-
4 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.

 
2.14

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured at the amount receivable less any impairment.
 

 
2.15

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.

 
2.16

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, including directors, during the year was 6 (2024 - 7).

Page 6

 
THE BUSINESS SOFTWARE CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

4.


Intangible assets




Development expenditure

£



Cost


At 1 February 2024
1,671,683


Additions
111,962



At 31 January 2025

1,783,645



Amortisation


At 1 February 2024
552,678


Charge for the year on owned assets
118,910



At 31 January 2025

671,588



Net book value



At 31 January 2025
1,112,057



At 31 January 2024
1,119,005



Page 7

 
THE BUSINESS SOFTWARE CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

5.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 February 2024
5,769



At 31 January 2025

5,769



Depreciation


At 1 February 2024
5,214


Charge for the year on owned assets
297



At 31 January 2025

5,511



Net book value



At 31 January 2025
258



At 31 January 2024
555


6.


Debtors

2025
2024
£
£


Trade debtors excluding factored debts
20,478
37,349

Factored debts
15,600
-

Other debtors
39,609
55,005

75,687
92,354






At the year end £15,600 of debtors were due to Penny Freedom, a Debtor Factoring company.

Page 8

 
THE BUSINESS SOFTWARE CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

7.


Cash and cash equivalents

2025
2024
£
£

Cash at bank and in hand
38
685

Less: bank overdrafts
(6,032)
-

(5,994)
685



8.


Creditors: Amounts falling due within one year

2025
2024
£
£

Bank overdrafts
6,032
-

Bank loans
9,358
9,000

Other loans
67,608
65,907

Trade creditors
52,283
30,385

Other taxation and social security
18,664
63,012

Proceeds of factored debts
15,600
-

Other creditors
129,455
115,736

Accruals and deferred income
106,090
117,294

405,090
401,334



9.


Creditors: Amounts falling due after more than one year

2025
2024
£
£

Bank loans
3,173
12,655

Other loans
146,058
98,479

Other creditors
140,454
130,454

Deferred government grant
113,732
130,446

403,417
372,034


Deferred government grants are grants received relating to research and development expenditure that have been capitalised. The government grants are being released over the same period as the amortisation of the development expenditure (15 years). There is no cash impact and these grants are not refundable.

Page 9

 
THE BUSINESS SOFTWARE CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

10.


Loans


Analysis of the maturity of loans is given below:


2025
2024
£
£

Amounts falling due within one year

Bank loans
9,358
9,000

Other loans
67,608
65,907


76,966
74,907

Amounts falling due 1-2 years

Bank loans
3,173
9,000

Other loans
24,027
41,957


27,200
50,957

Amounts falling due 2-5 years

Bank loans
-
3,655

Other loans
83,151
56,522


83,151
60,177

Amounts falling due after more than 5 years

Other loans
38,880
-

38,880
-

226,197
186,041


Page 10

 
THE BUSINESS SOFTWARE CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

11.


Share-based payments

The company has issued share options to provide incentives to key employees and officers. Under the plan, stock options can be granted with an exercise price less than, equal to, or greater than the stock's fair market value at the date of the grant. All the stock options vest and become exercisable after a period of ten years from grant date.
As at the year end, 41 (2024: 41) supplier and employees of the company have been issued share options.

Weighted average exercise price (pence)
2025
Number
2025
Weighted average exercise price
(pence)
2024
Number
2024

Outstanding at the beginning of the year

4.2

275,287

4.20
 
275,287
 
Granted during the year


-

 
-
 
Exercised during the year


-

 
-
 
Outstanding at the end of the year
4.2

275,287

4.20
 
275,287
 





12.


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 £2.144 (2024: £3,380) . Contributions totalling £nil (2024: £419) were payable to the fund at the balance sheet date and are included in creditors.


13.


Commitments under operating leases

The Company had no commitments under non-cancellable operating leases at the balance sheet date.


14.


Transactions with directors

P A Hames (director) 
The amount due from P A Hames to the Company at the year end was £9,345 (2024: £11,763), this is included within other debtors.
M L Sugden (director)
The amount due from the Company to M L Sugden at the year was £40,344 (2024: £30,094), this is included within other creditors.

Page 11

 
THE BUSINESS SOFTWARE CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

15.


Controlling party

P A Hames is considered the controlling party by virtue of his controlling interest in the issued share
capital of the Company.

Page 12