Caseware UK (AP4) 2024.0.164 2024.0.164 2025-03-312025-03-3142024-04-01falseNo description of principal activity6falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13228178 2024-04-01 2025-03-31 13228178 2023-04-01 2024-03-31 13228178 2025-03-31 13228178 2024-03-31 13228178 2023-04-01 13228178 c:Director1 2024-04-01 2025-03-31 13228178 c:Director2 2024-04-01 2025-03-31 13228178 c:Director5 2024-04-01 2025-03-31 13228178 c:Director6 2024-04-01 2025-03-31 13228178 c:Director7 2024-04-01 2025-03-31 13228178 c:Director8 2024-04-01 2025-03-31 13228178 c:RegisteredOffice 2024-04-01 2025-03-31 13228178 d:OfficeEquipment 2024-04-01 2025-03-31 13228178 d:OfficeEquipment 2025-03-31 13228178 d:OfficeEquipment 2024-03-31 13228178 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 13228178 d:ComputerEquipment 2024-04-01 2025-03-31 13228178 d:ComputerEquipment 2025-03-31 13228178 d:ComputerEquipment 2024-03-31 13228178 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 13228178 d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 13228178 d:CurrentFinancialInstruments 2025-03-31 13228178 d:CurrentFinancialInstruments 2024-03-31 13228178 d:CurrentFinancialInstruments d:WithinOneYear 2025-03-31 13228178 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 13228178 d:ShareCapital 2024-04-01 2025-03-31 13228178 d:ShareCapital 2025-03-31 13228178 d:ShareCapital 2023-04-01 2024-03-31 13228178 d:ShareCapital 2024-03-31 13228178 d:ShareCapital 2023-04-01 13228178 d:SharePremium 2024-04-01 2025-03-31 13228178 d:SharePremium 2025-03-31 13228178 d:SharePremium 2023-04-01 2024-03-31 13228178 d:SharePremium 2024-03-31 13228178 d:SharePremium 2023-04-01 13228178 d:RetainedEarningsAccumulatedLosses 2024-04-01 2025-03-31 13228178 d:RetainedEarningsAccumulatedLosses 2025-03-31 13228178 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 13228178 d:RetainedEarningsAccumulatedLosses 2024-03-31 13228178 d:RetainedEarningsAccumulatedLosses 2023-04-01 13228178 c:OrdinaryShareClass1 2024-04-01 2025-03-31 13228178 c:OrdinaryShareClass1 2025-03-31 13228178 c:OrdinaryShareClass1 2024-03-31 13228178 c:FRS102 2024-04-01 2025-03-31 13228178 c:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 13228178 c:FullAccounts 2024-04-01 2025-03-31 13228178 c:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 xbrli:shares iso4217:GBP xbrli:pure
Company registration number: 13228178







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2025


DIRAC DRIVES LIMITED






































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DIRAC DRIVES LIMITED
 


 
COMPANY INFORMATION


Directors
I Clague 
A N Hewson 
P F Longchamp 
Dr T S Norris 
J M Scott 
W J Teesdale 




Registered number
13228178



Registered office
23 King Street
Cambridge

England

CB1 1AH




Accountants
Menzies LLP
Chartered Accountants

Ashcombe House

5 The Crescent

Leatherhead

Surrey

KT22 8DY





 


DIRAC DRIVES LIMITED
 



CONTENTS



Page
Statement of financial position
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 7

 


DIRAC DRIVES LIMITED
REGISTERED NUMBER:13228178



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025

2025
2024
Note
£
£

Fixed assets
  

Tangible assets
 4 
58,865
24,690

  
58,865
24,690

Current assets
  

Debtors: amounts falling due within one year
 5 
18,759
9,004

Cash at bank and in hand
  
464,972
311,810

  
483,731
320,814

Creditors: amounts falling due within one year
 6 
(279,118)
(31,831)

Net current assets
  
 
 
204,613
 
 
288,983

Total assets less current liabilities
  
263,478
313,673

Provisions for liabilities
  

Deferred tax
  
(14,716)
(6,173)

  
 
 
(14,716)
 
 
(6,173)

Net assets
  
248,762
307,500


Capital and reserves
  

Allotted, called up and fully paid share capital
 7 
1
1

Share premium account
 8 
1,110,694
750,006

Profit and loss account
 8 
(861,933)
(442,507)

  
248,762
307,500

Page 1

 


DIRAC DRIVES LIMITED
REGISTERED NUMBER:13228178


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2025

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 income and retained earnings 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: 




I Clague
Director

Date: 21 July 2025

The notes on pages 4 to 7 form part of these financial statements.
Page 2

 


DIRAC DRIVES LIMITED
 



STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


At 1 April 2023
1
380,000
(61,893)
318,108


Comprehensive income for the year

Loss for the year

-
-
(380,614)
(380,614)


Contributions by and distributions to owners

Shares issued during the year
-
370,006
-
370,006



At 1 April 2024
1
750,006
(442,507)
307,500


Comprehensive income for the year

Loss for the year

-
-
(419,426)
(419,426)


Contributions by and distributions to owners

Shares issued during the year
-
360,688
-
360,688


At 31 March 2025
1
1,110,694
(861,933)
248,762


The notes on pages 4 to 7 form part of these financial statements.
Page 3

 


DIRAC DRIVES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1.


General information

Dirac Drives Limited is a private company limited by shares incorporated in England and Wales. The company's registered number and office is disclosed on the company information page.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting 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 reporting date.

 
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 4

 


DIRAC DRIVES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

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
-
10%
Computer equipment
-
20%

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

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.


3.


Employees

The average monthly number of employees, including the directors, during the year was 6 (2024- 4).

Page 5

 


DIRAC DRIVES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

4.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 April 2024
27,034
999
28,033


Additions
37,090
2,643
39,733



At 31 March 2025

64,124
3,642
67,766



Depreciation


At 1 April 2024
2,636
707
3,343


Charge for the year
5,091
467
5,558



At 31 March 2025

7,727
1,174
8,901



Net book value



At 31 March 2025
56,397
2,468
58,865



At 31 March 2024
24,398
292
24,690


5.


Debtors

2025
2024
£
£


Other debtors
18,759
9,004

18,759
9,004



6.


Creditors: Amounts falling due within one year

2025
2024
£
£

Trade creditors
29,401
5,046

Other creditors
235,482
13,195

Accruals and deferred income
14,235
13,590

279,118
31,831


Page 6

 


DIRAC DRIVES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

7.


Share capital

2025
2024
£
£
Allotted, called up and fully paid



1,093,046 (2024 - 1,067,794) Ordinary shares of £0.000001
1
1



8.


Reserves

Share premium account

Share premium relates to any amounts paid over the par value of the share, net of share issue costs. 

Profit and loss account

This reserve records the retained earnings and accumulated losses. 


9.


Transactions with directors

Included within other debtors (2024 - other creditors) are the following transactions with directors.


2025
2024
£
£

Balance outstanding at start of the year
(13,195)
(20,164)
Amounts advanced
32,848
61,215
Amounts repaid
(14,511)
(54,246)
Balance carried forward
5,142
(13,195)

Interest has not been charged on the balance. (2024: interest of £857 accrued on the balance owed to directors). 
The loans are repayable on demand.
 
Page 7