Caseware UK (AP4) 2024.0.164 2024.0.164 2025-01-312025-01-312024-02-01falsefalsefalse62012 - Business and domestic software development4735trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05251472 2024-02-01 2025-01-31 05251472 2023-02-01 2024-01-31 05251472 2025-01-31 05251472 2024-01-31 05251472 c:Director4 2024-02-01 2025-01-31 05251472 d:Buildings 2024-02-01 2025-01-31 05251472 d:Buildings 2025-01-31 05251472 d:Buildings 2024-01-31 05251472 d:Buildings d:OwnedOrFreeholdAssets 2024-02-01 2025-01-31 05251472 d:PlantMachinery 2024-02-01 2025-01-31 05251472 d:PlantMachinery 2025-01-31 05251472 d:PlantMachinery 2024-01-31 05251472 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-02-01 2025-01-31 05251472 d:MotorVehicles 2024-02-01 2025-01-31 05251472 d:MotorVehicles 2025-01-31 05251472 d:MotorVehicles 2024-01-31 05251472 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-02-01 2025-01-31 05251472 d:FurnitureFittings 2024-02-01 2025-01-31 05251472 d:FurnitureFittings 2025-01-31 05251472 d:FurnitureFittings 2024-01-31 05251472 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-02-01 2025-01-31 05251472 d:OfficeEquipment 2024-02-01 2025-01-31 05251472 d:OfficeEquipment 2025-01-31 05251472 d:OfficeEquipment 2024-01-31 05251472 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-02-01 2025-01-31 05251472 d:OwnedOrFreeholdAssets 2024-02-01 2025-01-31 05251472 d:PatentsTrademarksLicencesConcessionsSimilar 2025-01-31 05251472 d:PatentsTrademarksLicencesConcessionsSimilar 2024-01-31 05251472 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2025-01-31 05251472 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-31 05251472 d:Goodwill 2025-01-31 05251472 d:Goodwill 2024-01-31 05251472 d:FreeholdInvestmentProperty 2025-01-31 05251472 d:FreeholdInvestmentProperty 2024-01-31 05251472 d:CurrentFinancialInstruments 2025-01-31 05251472 d:CurrentFinancialInstruments 2024-01-31 05251472 d:Non-currentFinancialInstruments 2025-01-31 05251472 d:Non-currentFinancialInstruments 2024-01-31 05251472 d:CurrentFinancialInstruments d:WithinOneYear 2025-01-31 05251472 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 05251472 d:Non-currentFinancialInstruments d:AfterOneYear 2025-01-31 05251472 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 05251472 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2025-01-31 05251472 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-01-31 05251472 d:ShareCapital 2025-01-31 05251472 d:ShareCapital 2024-01-31 05251472 d:CapitalRedemptionReserve 2025-01-31 05251472 d:CapitalRedemptionReserve 2024-01-31 05251472 d:RevaluationReserve 2024-02-01 2025-01-31 05251472 d:RevaluationReserve 2025-01-31 05251472 d:RevaluationReserve 2024-01-31 05251472 d:RetainedEarningsAccumulatedLosses 2025-01-31 05251472 d:RetainedEarningsAccumulatedLosses 2024-01-31 05251472 c:FRS102 2024-02-01 2025-01-31 05251472 c:AuditExempt-NoAccountantsReport 2024-02-01 2025-01-31 05251472 c:FullAccounts 2024-02-01 2025-01-31 05251472 c:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 05251472 5 2024-02-01 2025-01-31 05251472 d:Goodwill d:OwnedIntangibleAssets 2024-02-01 2025-01-31 05251472 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2024-02-01 2025-01-31 05251472 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2024-02-01 2025-01-31 05251472 e:PoundSterling 2024-02-01 2025-01-31 iso4217:GBP xbrli:pure

Registered number: 05251472










ITCS (UK) LTD.








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2025

 
ITCS (UK) LTD.
REGISTERED NUMBER:05251472

BALANCE SHEET
AS AT 31 JANUARY 2025

2025
2024
Note
£
£

Fixed assets
  

Intangible assets
 4 
162,888
201,149

Tangible assets
 5 
225,769
202,931

Investments
 6 
1,326,155
-

Investment property
 7 
130,000
130,000

  
1,844,812
534,080

Current assets
  

Stocks
  
46,785
17,648

Debtors: amounts falling due within one year
 8 
548,926
668,941

Cash at bank and in hand
 9 
193,788
625,616

  
789,499
1,312,205

Creditors: amounts falling due within one year
 10 
(625,589)
(564,650)

Net current assets
  
 
 
163,910
 
 
747,555

Total assets less current liabilities
  
2,008,722
1,281,635

Creditors: amounts falling due after more than one year
 11 
(779,109)
(5,000)

Provisions for liabilities
  

Deferred tax
  
(24,481)
(23,126)

  
 
 
(24,481)
 
 
(23,126)

Net assets
  
1,205,132
1,253,509


Capital and reserves
  

Called up share capital 
  
18,600
30,000

Revaluation reserve
 13 
15,152
15,152

Capital redemption reserve
 13 
11,400
-

Profit and loss account
 13 
1,159,980
1,208,357

  
1,205,132
1,253,509


Page 1

 
ITCS (UK) LTD.
REGISTERED NUMBER:05251472

BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 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 profit and loss account 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: 




Brian Stokes
Director

Date: 24 July 2025

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

Page 2

 
ITCS (UK) LTD.
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

1.


General information

ITCS (UK) Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number is 05251472 and the registered office address is Sony Uk Technology Centre, Pencoed Technology Park, Bridgend, Wales CF35 5HZ. 
The presentation currency of the financial statements is the Pound Sterling (£). 

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

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 3

 
ITCS (UK) LTD.
 

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

2.Accounting policies (continued)

 
2.3

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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

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 Profit and Loss Account in the same period as the related expenditure.

 
2.5

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.

 
2.6

Borrowing costs

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

 
2.7

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.

Page 4

 
ITCS (UK) LTD.
 

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

2.Accounting policies (continued)

 
2.8

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.


 
2.9

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.

 
2.10

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.

Page 5

 
ITCS (UK) LTD.
 

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

2.Accounting policies (continued)


2.10
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:

Freehold property
-
10%
Straight line (on improvemnts)
Plant and machinery
-
25%
Straight Line
Motor vehicles
-
20%
Reducing balance
Fixtures and fittings
-
20%
Straight Line
Office equipment
-
33%
Reducing balance

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

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.12

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.13

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.

Page 6

 
ITCS (UK) LTD.
 

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

2.Accounting policies (continued)

 
2.14

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.

 
2.15

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.

 
2.17

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.

 
2.18

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 47 (2024 - 35).

Page 7

 
ITCS (UK) LTD.
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

4.


Intangible assets




Goodwill
£
Patents
£
Development expenditure
£
Total
£




Cost


At 1 February 2024
75,040
173,000
382,607
630,647



At 31 January 2025

75,040
173,000
382,607
630,647



Amortisation


At 1 February 2024
75,040
173,000
181,458
429,498


Charge for the year on owned assets
-
-
38,261
38,261



At 31 January 2025

75,040
173,000
219,719
467,759



Net book value



At 31 January 2025
-
-
162,888
162,888



At 31 January 2024
-
-
201,149
201,149



Page 8

 
ITCS (UK) LTD.
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

5.


Tangible fixed assets





Freehold property
£
Plant and machinery
£
Motor vehicles
£
Fixtures and fittings
£
Office equipment
£
Total
£




Cost or valuation


At 1 February 2024
207,906
27,319
331,211
125,844
61,172
753,452


Additions
-
-
127,045
9,153
12,758
148,956


Disposals
-
-
(85,562)
-
-
(85,562)



At 31 January 2025

207,906
27,319
372,694
134,997
73,930
816,846



Depreciation


At 1 February 2024
189,036
21,720
166,560
123,968
49,237
550,521


Charge for the year on owned assets
18,870
5,599
41,227
11,029
8,148
84,873


Disposals
-
-
(44,317)
-
-
(44,317)



At 31 January 2025

207,906
27,319
163,470
134,997
57,385
591,077



Net book value



At 31 January 2025
-
-
209,224
-
16,545
225,769



At 31 January 2024
18,870
5,599
164,651
1,876
11,935
202,931


6.


Fixed asset investments





Trade investments
£






Additions
1,326,155



At 31 January 2025
1,326,155




Page 9

 
ITCS (UK) LTD.
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

7.


Investment property


Freehold investment property
£




Valuation


At 1 February 2024
130,000



At 31 January 2025
130,000

The investment properties were not revalued within the current year, but the directors believe the current valuation of
£130,000 to be the fair value at the date of the statement of financial position





8.


Debtors

2025
2024
£
£


Trade debtors
427,905
652,813

Amounts owed by joint ventures and associated undertakings
104,147
-

Other debtors
6,479
2

Prepayments and accrued income
10,395
16,126

548,926
668,941



9.


Cash and cash equivalents

2025
2024
£
£

Cash at bank and in hand
193,788
625,616

193,788
625,616


Page 10

 
ITCS (UK) LTD.
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

10.


Creditors: Amounts falling due within one year

2025
2024
£
£

Other loans
182,946
-

Trade creditors
132,432
243,859

Amounts owed to group undertakings
8,847
9,536

Corporation tax
69,692
82,617

Other taxation and social security
143,888
156,460

Obligations under finance lease and hire purchase contracts
26,111
-

Other creditors
47,767
61,497

Accruals and deferred income
13,906
10,681

625,589
564,650



11.


Creditors: Amounts falling due after more than one year

2025
2024
£
£

Other loans
309,109
-

Amounts owed to group undertakings
465,000
-

Accruals and deferred income
5,000
5,000

779,109
5,000



12.


Loans


Analysis of the maturity of loans is given below:


2025
2024
£
£

Amounts falling due within one year

Other loans
182,946
-


182,946
-



Amounts falling due after more than 5 years

Other loans
309,108
-

309,108
-

492,054
-


Page 11

 
ITCS (UK) LTD.
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

13.


Reserves

Fair value reserve

The amount held within the fair value reserve is £15,152 (2024 - £15,152).
The amount is considered to be non-distributable.


14.


Related party transactions

Comprehensive Solutions Limited is considered to be a related party of the company, due to sharing the same directorship to that of ITCS (UK) Limited.
During the year, Comprehensive Solutions Limited provided goods and services to ITCS (UK) Limited totalling £9,816.72 (2024 - £15,282). ITCS (UK) Limited provided services to Comprehensive Solutions Limited during the year totalling £19,098.15 (2024 - £12,735).
At the date of these financial statements, the company owed £8,623.10 to Comprehensive Solutions Limited (2024 - £9,536 owed from Comprehensive Solutions Limited). This amount is interest free and repayable on demand.
Poundbury Systems Limited is considered to be a related party of the company, due to sharing the same directorship to that of ITCS (UK) Limited.
During the year, Poundbury Systems Limited provided goods and services to ITCS (UK) Limited totalling £6,700.10. ITCS (UK) Limited provided services to Poundbury Systems Limited during the year totalling £40,671.33.
At the date of these financial statements, £10,543.23 was owed from Poundbury Systems Limited to ITCS (UK) Limted. This amount is interest free and repayable on demand.
Included in other creditors is an amount of £NIL owed by the directors (2024 - £13,865 owed to the directors). This amount is interest free and repayable on demand.


Page 12