Caseware UK (AP4) 2024.0.164 2024.0.164 12truetrue2023-07-01falseBusiness and domestic software development16false 06961274 2023-07-01 2024-06-30 06961274 2022-07-01 2023-06-30 06961274 2024-06-30 06961274 2023-06-30 06961274 1 2023-07-01 2024-06-30 06961274 d:Director2 2023-07-01 2024-06-30 06961274 c:FurnitureFittings 2023-07-01 2024-06-30 06961274 c:FurnitureFittings 2024-06-30 06961274 c:FurnitureFittings 2023-06-30 06961274 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 06961274 c:ComputerEquipment 2023-07-01 2024-06-30 06961274 c:ComputerEquipment 2024-06-30 06961274 c:ComputerEquipment 2023-06-30 06961274 c:ComputerEquipment c:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 06961274 c:OtherPropertyPlantEquipment 2023-07-01 2024-06-30 06961274 c:OtherPropertyPlantEquipment 2024-06-30 06961274 c:OtherPropertyPlantEquipment 2023-06-30 06961274 c:OtherPropertyPlantEquipment c:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 06961274 c:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 06961274 c:CurrentFinancialInstruments 2024-06-30 06961274 c:CurrentFinancialInstruments 2023-06-30 06961274 c:Non-currentFinancialInstruments 2024-06-30 06961274 c:Non-currentFinancialInstruments 2023-06-30 06961274 c:CurrentFinancialInstruments c:WithinOneYear 2024-06-30 06961274 c:CurrentFinancialInstruments c:WithinOneYear 2023-06-30 06961274 c:Non-currentFinancialInstruments c:AfterOneYear 2024-06-30 06961274 c:Non-currentFinancialInstruments c:AfterOneYear 2023-06-30 06961274 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2024-06-30 06961274 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-06-30 06961274 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2024-06-30 06961274 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-06-30 06961274 c:ShareCapital 2024-06-30 06961274 c:ShareCapital 2023-06-30 06961274 c:SharePremium 2023-07-01 2024-06-30 06961274 c:SharePremium 2024-06-30 06961274 c:SharePremium 2023-06-30 06961274 c:CapitalRedemptionReserve 2023-07-01 2024-06-30 06961274 c:CapitalRedemptionReserve 2024-06-30 06961274 c:CapitalRedemptionReserve 2023-06-30 06961274 c:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 06961274 c:RetainedEarningsAccumulatedLosses 2024-06-30 06961274 c:RetainedEarningsAccumulatedLosses 2023-06-30 06961274 d:OrdinaryShareClass1 2023-07-01 2024-06-30 06961274 d:OrdinaryShareClass1 2024-06-30 06961274 d:OrdinaryShareClass1 2023-06-30 06961274 d:FRS102 2023-07-01 2024-06-30 06961274 d:Audited 2023-07-01 2024-06-30 06961274 d:FullAccounts 2023-07-01 2024-06-30 06961274 d:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 06961274 c:Subsidiary1 2023-07-01 2024-06-30 06961274 c:Subsidiary1 1 2023-07-01 2024-06-30 06961274 d:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 06961274 2 2023-07-01 2024-06-30 06961274 6 2023-07-01 2024-06-30 06961274 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 06961274










Beonic UK Limited










Financial statements

Information for filing with the registrar

For the year ended 30 June 2024

 
Beonic UK Limited
Registered number: 06961274

Balance sheet
As at 30 June 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
158,299
196,843

Investments
 6 
7
7

  
158,306
196,850

Current assets
  

Stocks
 7 
42,466
-

Debtors: amounts falling due after more than one year
 8 
-
38,540

Debtors: amounts falling due within one year
 8 
2,737,396
2,207,335

Cash at bank and in hand
 9 
230,124
409,817

  
3,009,986
2,655,692

Creditors: amounts falling due within one year
 10 
(5,278,446)
(4,566,707)

Net current liabilities
  
 
 
(2,268,460)
 
 
(1,911,015)

Total assets less current liabilities
  
(2,110,154)
(1,714,165)

Creditors: amounts falling due after more than one year
 11 
(916,442)
(908,161)

  

Net liabilities
  
(3,026,596)
(2,622,326)


Capital and reserves
  

Called up share capital 
 13 
1,136
1,136

Share premium account
 14 
13,609,644
13,609,644

Capital redemption reserve
 14 
2,628,299
2,628,299

Profit and loss account
 14 
(19,265,675)
(18,861,405)

Shareholders' deficit
  
(3,026,596)
(2,622,326)


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Beonic UK Limited
Registered number: 06961274

Balance sheet (continued)
As at 30 June 2024

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 24 July 2025.


John Patrick Stephen Rankin
Director

The notes on pages 3 to 13 form part of these financial statements.

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Beonic UK Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

1.


General information

The Company is a private company limited by shares and incorporated in England. The address of the registered office is 85 Great Portland Street, London, W1W 6LT. 
The Company's principal activity for the year was the maintenance of software licenses.

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 company is itself a subsidiary and is exempt from the requirement to prepare group accounts by virtue of section 401 of the Companies Act 2006. These financial statements therefore present information about the Company as an individual undertaking and not about its group.  

The following principal accounting policies have been applied:

 
2.2

Going concern

The Company's results show a loss for the year of £404,270 (2023: £432,451) and net liabilities of £3,026,596 (2023: £2,622,326) at 30 June 2024.  The financial statements have been prepared on a going concern basis because the Company's ultimate parent undertaking, Beonic Limited, has provided assurances that it will continue provide the financial resources necessary to enable the Company to continue its normal course of business for a period of at least 12 months from the date of signing the financial statements.

 
2.3

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.

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Beonic UK Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

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

Interest income

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

 
2.6

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.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

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.

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Beonic UK Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

2.Accounting policies (continued)

 
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 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.


 
2.10

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.

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 years
Computer equipment
-
3 years
Other fixed assets
-
3 years

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.

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Beonic UK Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

2.Accounting policies (continued)

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
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

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.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
 
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Beonic UK Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

2.Accounting policies (continued)


2.16
Financial instruments (continued)


Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

Management were not required to exercise any judgement in order to apply the above stated accounting policies. All figures in the primary statements are fully supportable and no estimation techniques were used. 

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Beonic UK Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

4.


Employees

The average monthly number of employees, including directors, during the year was 12 (2023 - 16).


5.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Other fixed assets
Total

£
£
£
£



Cost or valuation


At 1 July 2023
6,167
653,127
213,142
872,436


Additions
-
6,297
51,886
58,183



At 30 June 2024

6,167
659,424
265,028
930,619



Depreciation


At 1 July 2023
6,167
630,870
38,556
675,593


Charge for the year
-
11,267
85,460
96,727



At 30 June 2024

6,167
642,137
124,016
772,320



Net book value



At 30 June 2024
-
17,287
141,012
158,299



At 30 June 2023
-
22,257
174,586
196,843


6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 July 2023
7



At 30 June 2024
7




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Beonic UK Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Class of shares

Holding

Crowd Vision USA, Co
Ordinary
100%


7.


Stocks

2024
2023
£
£

Finished goods and goods for resale
42,466
-

42,466
-



8.


Debtors

2024
2023
£
£

Due after more than one year

Prepayments and accrued income
-
38,540

-
38,540


2024
2023
£
£

Due within one year

Trade debtors
299,972
311,346

Amounts owed by group undertakings
2,047,082
1,782,344

Other debtors
17,985
14,348

Prepayments and accrued income
372,357
99,267

Tax recoverable
-
30

2,737,396
2,207,335


Amounts owed by group undertakings are unsecured, interest free and repayable on demand. 

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Beonic UK Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

9.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
230,124
409,817

230,124
409,817



10.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
5,324
5,324

Trade creditors
214,570
288,470

Amounts owed to group undertakings
4,282,125
3,427,454

Other taxation and social security
84,947
50,686

Other creditors
5,102
9,103

Accruals and deferred income
686,378
785,670

5,278,446
4,566,707


Amounts owed to group undertakings are unsecured, interest free and repayable on demand. 


11.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
6,139
11,158

Amounts owed to group undertakings
897,003
897,003

Accruals and deferred income
13,300
-

916,442
908,161


Amounts owed to group undertakings are unsecured, interest bearing and repayable on demand.

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Beonic UK Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

12.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
5,324
5,324


5,324
5,324

Amounts falling due 1-2 years

Bank loans
5,324
5,324


5,324
5,324

Amounts falling due 2-5 years

Bank loans
815
5,834


815
5,834


11,463
16,482



13.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



113,677 (2023 - 113,677) Ordinary shares of £0.01 each
1,136
1,136


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Beonic UK Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

14.


Reserves

Share premium account

The share premium account represents the premium arising on the issue of shares net of issue costs.

Capital redemption reserve

The capital contribution reserve is a non-distributable reserve that represents a non-repayable amount received from a shareholder.

Profit and loss account

The profit and loss account represents cumulative profits and losses net of other adjustments.


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 £24,879 (2023 - £55,259). Contributions totaling £5,095 (2023 - £7,449) were payable to the fund at the balance sheet date and are included in creditors.


16.


Related party transactions

The company has availed of the exemption in FRS 102 Section 33, Paragraph 33.1A which allows non-disclosure of transactions between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member. 


17.


Post balance sheet events

There has been no events effecting the Company post year end. 


18.


Controlling party

The immediate parent undertaking of the Company is Beonic Inc, a company incorporated in the United States of America.
The ultimate parent undertaking of the Company is Beonic Limited, a company incorporated in Australia. The largest and smallest group in which the results of Beonic UK Limited are consolidated is that headed by Beonic Limited. Copies of the group financial statements are available from 411/50 Holt Street, Surry Hills, NSW, 2093, Australia.
The directors consider there to be no ultimate controlling party. 

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Beonic UK Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

19.


Auditor's information

The auditor's report on the financial statements for the year ended 30 June 2024 was unqualified.

The audit report was signed on 24 July 2025 by Adrian Patton (Senior statutory auditor) on behalf of Sumer Auditco NI Limited.


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