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Registered number: 05605939









CONFABULATE LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2024

 
CONFABULATE LIMITED
REGISTERED NUMBER: 05605939

BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
3,510
7,020

Tangible assets
 5 
4,336
4,245

Investments
 6 
100
-

  
7,946
11,265

Current assets
  

Stocks
  
-
469

Debtors: amounts falling due within one year
 7 
56,843
11,659

Cash at bank
  
13,514
36,279

  
70,357
48,407

Current liabilities
  

Creditors: amounts falling due within one year
 8 
(14,215)
(5,498)

Net current assets
  
 
 
56,142
 
 
42,909

  

Net assets
  
64,088
54,174


Capital and reserves
  

Called up share capital 
 9 
5
5

Share premium account
  
845,388
845,388

Profit and loss account
  
(781,305)
(791,219)

  
64,088
54,174


Page 1

 
CONFABULATE LIMITED
REGISTERED NUMBER: 05605939

BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2024

The director considers 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 director acknowledges his 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: 






Mr A D Redfern
Director

Date: 25 July 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
CONFABULATE LIMITED
 

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

1.


GENERAL INFORMATION

Confabulate Limited is a private Company limited by shares, incorporated in England and Wales within the United Kingdom. The address of the registered office is 9 Market Row, Saffron Walden, Essex, CB10 1HB. This Company is not part of a group.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

GOING CONCERN

The Company is only able to trade with the continuing support of the director, who has indicated that this support will not be withdrawn. On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result from the withdrawal of this support.

 
2.3

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.

 
2.4

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.

Page 3

 
CONFABULATE LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.5

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:

Office equipment
-
33%
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.

 
2.6

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.7

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 weighted average 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.

 
2.8

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.

 
2.9

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.

Page 4

 
CONFABULATE LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.10

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 corporation 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.


 
2.11

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 1 (2023 - 1).

Page 5

 
CONFABULATE LIMITED
 

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

4.


INTANGIBLE ASSETS




Development expenditure

£



Cost


At 1 November 2023
58,427



At 31 October 2024

58,427



Amortisation


At 1 November 2023
51,407


Charge for the year on owned assets
3,510



At 31 October 2024

54,917



Net book value



At 31 October 2024
3,510



At 31 October 2023
7,020



Page 6

 
CONFABULATE LIMITED
 

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

5.


TANGIBLE FIXED ASSETS





Other fixed assets

£



Cost 


At 1 November 2023
20,178


Additions
4,080



At 31 October 2024

24,258



Depreciation


At 1 November 2023
15,933


Charge for the year on owned assets
3,989



At 31 October 2024

19,922



Net book value



At 31 October 2024
4,336



At 31 October 2023
4,245


6.


FIXED ASSET INVESTMENTS





Investments in subsidiary companies

£



Cost


Additions
100



At 31 October 2024
100




Page 7

 
CONFABULATE LIMITED
 

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

7.


DEBTORS

2024
2023
£
£


Trade debtors
35,771
7,050

Amounts owed by group undertakings
1,676
-

Other debtors
19,396
755

Prepayments
-
3,854

56,843
11,659



8.


CREDITORS: Amounts falling due within one year

2024
2023
£
£

Trade creditors
5,930
156

Other taxation and social security
534
-

Other creditors
1,540
1,260

Accruals and deferred income
6,211
4,082

14,215
5,498



9.


SHARE CAPITAL

2024
2023
£
£
Allotted, called up and fully paid



470 (2023 -470) Ordinary B shares of £0.001 each
0.47
0.47
2,137(2023 - 2,137) Ordinary C shares of £0.001 each
2.14
2.14
2,052 (2023 - 2,052) Ordinary D shares of £0.001 each
2.05
2.05

4.66

4.66



10.


RELATED PARTY TRANSACTIONS

During the year, the Company operated a loan with the director of the Company. The amount payable from the Company to the director at the year end was £170 (2023 - £204). This loan is interest free and repayable on demand.
During the year, the Company operated a loan with its 100% owned subsidiary, Loober Ltd. The amount payable to the Company from Loober Ltd at the year end was £1,676 (2023 - £Nil). This loan is interest free and repayable on demand.


Page 8