Caseware UK (AP4) 2024.0.164 2024.0.164 2024-10-312024-10-31true2023-11-01falseNo description of principal activity32trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11606227 2023-11-01 2024-10-31 11606227 2022-11-01 2023-10-31 11606227 2024-10-31 11606227 2023-10-31 11606227 c:Director2 2023-11-01 2024-10-31 11606227 d:ComputerEquipment 2023-11-01 2024-10-31 11606227 d:ComputerEquipment 2024-10-31 11606227 d:ComputerEquipment 2023-10-31 11606227 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 11606227 d:CurrentFinancialInstruments 2024-10-31 11606227 d:CurrentFinancialInstruments 2023-10-31 11606227 d:CurrentFinancialInstruments d:WithinOneYear 2024-10-31 11606227 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 11606227 d:ShareCapital 2024-10-31 11606227 d:ShareCapital 2023-10-31 11606227 d:RetainedEarningsAccumulatedLosses 2024-10-31 11606227 d:RetainedEarningsAccumulatedLosses 2023-10-31 11606227 d:AcceleratedTaxDepreciationDeferredTax 2024-10-31 11606227 d:AcceleratedTaxDepreciationDeferredTax 2023-10-31 11606227 c:FRS102 2023-11-01 2024-10-31 11606227 c:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 11606227 c:FullAccounts 2023-11-01 2024-10-31 11606227 c:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 11606227 2 2023-11-01 2024-10-31 11606227 6 2023-11-01 2024-10-31 11606227 e:PoundSterling 2023-11-01 2024-10-31 iso4217:GBP xbrli:pure

Registered number: 11606227










ATOMIC WIRE TECHNOLOGY LIMITED









FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

 
ATOMIC WIRE TECHNOLOGY LIMITED
REGISTERED NUMBER: 11606227

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
8,774
1,632

Investments
 5 
65,677
18,220

  
74,451
19,852

Current assets
  

Debtors: amounts falling due within one year
 6 
32,323
28,178

Cash at bank and in hand
 7 
660,489
931,252

  
692,812
959,430

Creditors: amounts falling due within one year
 8 
(70,464)
(268,146)

Net current assets
  
 
 
622,348
 
 
691,284

Provisions for liabilities
  

Deferred tax
 9 
(2,036)
-

  
 
 
(2,036)
 
 
-

Net assets
  
694,763
711,136


Capital and reserves
  

Called up share capital 
  
10
10

Profit and loss account
  
694,753
711,126

  
694,763
711,136


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 on 28 July 2025.


Page 1

 
ATOMIC WIRE TECHNOLOGY LIMITED
REGISTERED NUMBER: 11606227
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 2024



M Swanson
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
ATOMIC WIRE TECHNOLOGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

Atomic Wire Technology Limited is a private company limited by shares and incorporated in England and Wales. The company's registered office is 7 Bell Yard, London, WC2A 2JR.

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 preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. No significant judgements materially affecting the numbers in these financial statements were made in this period.

 
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.

Page 3

 
ATOMIC WIRE TECHNOLOGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 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:

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.

 
2.5

Interest income

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

 
2.6

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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
ATOMIC WIRE TECHNOLOGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.7

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 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.


 
2.8

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:

Computer equipment
-
25%

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.

Page 5

 
ATOMIC WIRE TECHNOLOGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.9

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 reporting date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income 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 reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.10

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.

 
2.11

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.

 
2.12

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.

 
2.13

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.

Page 6

 
ATOMIC WIRE TECHNOLOGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

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.

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.

 
2.15

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 4 (2023 - 2).

Page 7

 
ATOMIC WIRE TECHNOLOGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 November 2023
2,649


Additions
8,279



At 31 October 2024

10,928



Depreciation


At 1 November 2023
1,017


Charge for the year on owned assets
1,137



At 31 October 2024

2,154



Net book value



At 31 October 2024
8,774



At 31 October 2023
1,632


5.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 November 2023
18,220


Additions
47,457



At 31 October 2024
65,677




Page 8

 
ATOMIC WIRE TECHNOLOGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

6.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
20,845
20,845

Other debtors
2,826
-

Prepayments
8,652
7,333

32,323
28,178



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
660,489
931,252



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
9,382
3,638

Corporation tax
38,290
100,624

Other taxation and social security
11,506
40,721

Other creditors
629
337

Accruals and deferred income
10,657
122,826

70,464
268,146


Page 9

 
ATOMIC WIRE TECHNOLOGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

9.


Deferred taxation




2024


£






Charged to profit or loss
(2,036)



At end of year
(2,036)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(2,036)
-

(2,036)
-


10.


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 £2,171 (2023: £1,979). Contributions totalling £629 (2023: £337) were payable to the fund at the reporting date.

 
Page 10