Caseware UK (AP4) 2024.0.164 2024.0.164 2025-03-312025-03-3152024-04-01falseSoftware development8falsetruefalse 13738962 2024-04-01 2025-03-31 13738962 2023-04-01 2024-03-31 13738962 2025-03-31 13738962 2024-03-31 13738962 2023-04-01 13738962 1 2024-04-01 2025-03-31 13738962 1 2023-04-01 2024-03-31 13738962 3 2024-04-01 2025-03-31 13738962 3 2023-04-01 2024-03-31 13738962 d:Director1 2024-04-01 2025-03-31 13738962 e:ComputerEquipment 2024-04-01 2025-03-31 13738962 e:ComputerEquipment 2025-03-31 13738962 e:ComputerEquipment 2024-03-31 13738962 e:ComputerEquipment e:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 13738962 e:CurrentFinancialInstruments 2025-03-31 13738962 e:CurrentFinancialInstruments 2024-03-31 13738962 e:CurrentFinancialInstruments e:WithinOneYear 2025-03-31 13738962 e:CurrentFinancialInstruments e:WithinOneYear 2024-03-31 13738962 e:ShareCapital 2025-03-31 13738962 e:ShareCapital 2024-03-31 13738962 e:RetainedEarningsAccumulatedLosses 2025-03-31 13738962 e:RetainedEarningsAccumulatedLosses 2024-03-31 13738962 e:AcceleratedTaxDepreciationDeferredTax 2025-03-31 13738962 e:AcceleratedTaxDepreciationDeferredTax 2024-03-31 13738962 d:FRS102 2024-04-01 2025-03-31 13738962 d:Audited 2024-04-01 2025-03-31 13738962 d:FullAccounts 2024-04-01 2025-03-31 13738962 d:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 13738962 d:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 13738962 2 2024-04-01 2025-03-31 13738962 6 2024-04-01 2025-03-31 13738962 f:PoundSterling 2024-04-01 2025-03-31 iso4217:GBP xbrli:pure

Registered number: 13738962









ASPIRE SYSTEMS UK LTD









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2025

 
ASPIRE SYSTEMS UK LTD
REGISTERED NUMBER: 13738962

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025

2025
2024
Note
£
£

Fixed assets
  

Tangible assets
 5 
15,539
20,529

  
15,539
20,529

Current assets
  

Debtors: amounts falling due within one year
 6 
1,065,267
347,506

Cash at bank and in hand
 7 
218,634
126,090

  
1,283,901
473,596

Creditors: amounts falling due within one year
 8 
(1,033,897)
(412,790)

Net current assets
  
 
 
250,004
 
 
60,806

Total assets less current liabilities
  
265,543
81,335

Provisions for liabilities
  

Deferred tax
 9 
(3,885)
(5,132)

  
 
 
(3,885)
 
 
(5,132)

Net assets
  
261,658
76,203


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
261,558
76,103

  
261,658
76,203


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 by: 




Prem Anand Sundaravadanam
Director
Date: 16 July 2025
Page 1

 
ASPIRE SYSTEMS UK LTD
REGISTERED NUMBER: 13738962
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2025


The notes on pages 4 to 11 form part of these financial statements.

Page 2

 
ASPIRE SYSTEMS UK LTD
 

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025

2025
2024
£
£

Cash flows from operating activities

Profit for the financial year
247,747
29,560

Adjustments for:

Depreciation of tangible assets
6,424
-

Interest received
(331)
(155)

(Increase) in debtors
(354,751)
(156,478)

(Increase) in amounts owed by groups
(363,010)
(75,176)

Increase in creditors
352,082
125,397

Increase in amounts owed to groups
207,342
83,819

Corporation tax (paid)
(1,856)
(12,284)

Net cash generated from operating activities

93,647
(5,317)


Cash flows from investing activities

Purchase of tangible fixed assets
(1,434)
(20,529)

Purchase of fixed asset investments
-
(799)

Sale of fixed asset investments
-
799

Interest received
331
155

Net cash from investing activities

(1,103)
(20,374)


Net increase/(decrease) in cash and cash equivalents
92,544
(25,691)

Cash and cash equivalents at beginning of year
126,090
151,781

Cash and cash equivalents at the end of year
218,634
126,090


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
218,634
126,090

218,634
126,090


The notes on pages 4 to 11 form part of these financial statements.

Page 3

 
ASPIRE SYSTEMS UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1.


General information

The entity is a private company limited by shares and incorporated in England and Wales under registration number 13738962. The company’s registered office address is: The Scalpel 18th Floor, 52 Lime Street, London, EC3M 7AF.
The company’s principal activity is software development.

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 (see note 3).

The following principal accounting policies have been applied:

 
2.2

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 except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 4

 
ASPIRE SYSTEMS UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
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

Interest income

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

 
2.5

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 5

 
ASPIRE SYSTEMS UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.6

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.


 
2.7

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
-
33%

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 6

 
ASPIRE SYSTEMS UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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.

 
2.10

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.

In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.

 
2.11

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.

 
2.12

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 7

 
ASPIRE SYSTEMS UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of financial statements in conformity with Financial Reporting Standard 102 (FRS102)
requires the use of certain critical accounting estimates. It also requires management to exercise its
judgement in the process of applying the company's accounting policies. The areas involving a higher
degree of judgement or complexity, or areas where assumptions and estimates are significant to the
financial statements, are disclosed below:
Estimation of accruals and provisions
The company makes estimates in determining the appropriate level of accruals and provisions required in
the preparation of its financial statements. While these estimates are based on management's best
knowledge of the amounts, events, or actions, actual results may ultimately differ from those estimates.
The directors consider the accounting estimates and assumptions to be reasonable and prudent. However, actual outcomes could differ from those estimates, and such differences may impact the financial position and results of operations reported in future periods.


4.


Employees

2025
2024
£
£

Wages and salaries
853,884
168,540

Social security costs
53,078
20,053

Cost of defined contribution scheme
2,101
-

909,063
188,593


The average monthly number of employees, including directors, during the year was 8 (2024 - 5).

Page 8

 
ASPIRE SYSTEMS UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

5.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 April 2024
20,529


Additions
1,434



At 31 March 2025

21,963



Depreciation


Charge for the year on owned assets
6,424



At 31 March 2025

6,424



Net book value



At 31 March 2025
15,539



At 31 March 2024
20,529

Page 9

 
ASPIRE SYSTEMS UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

6.


Debtors

2025
2024
£
£


Trade debtors
201,942
155,640

Amounts owed by group undertakings
438,186
75,176

Other debtors
105,923
3,800

Prepayments and accrued income
319,216
112,890

1,065,267
347,506



7.


Cash and cash equivalents

2025
2024
£
£

Cash at bank and in hand
218,634
126,090

218,634
126,090



8.


Creditors: Amounts falling due within one year

2025
2024
£
£

Trade creditors
5,304
44,236

Amounts owed to group undertakings
476,670
269,328

Corporation tax
63,457
2,129

Other taxation and social security
65,660
31,824

Other creditors
1,078
-

Accruals and deferred income
421,728
65,273

1,033,897
412,790



9.


Deferred taxation

Page 10

 
ASPIRE SYSTEMS UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
 
9.Deferred taxation (continued)




2025


£






At beginning of year
(5,132)


Charged to profit or loss
1,247



At end of year
(3,885)

The provision for deferred taxation is made up as follows:

2025
2024
£
£


Accelerated capital allowances
(3,885)
(5,132)

(3,885)
(5,132)


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 £2,101 (2024: £Nil). Contributions totalling £1,078 (2024: £Nil) were payable to the fund at the reporting date and are included in creditors.


11.


Related party transactions

The company has taken advantage of the exemption available under section 33 of FRS 102 from disclosing related parties’ transactions, and balances, with wholly owned members of the group.


12.


Controlling party

The parent company, Aspire Systems International Pte Limited, a company incorporated in Singapore owns 100% of issued share capital in the company. The accounts of the company are consolidated in parent company’s accounts. The consolidated accounts of parent company can be obtained from its registered office at 9 Raffles Place, #26-01 Republic Plaza, Singapore 048619.


13.


Auditors' information

The auditors' report on the financial statements for the year ended 31 March 2025 was unqualified.

The audit report was signed on 16 July 2025 by  (Senior Statutory Auditor) on behalf of Accendo Consulting Ltd.

 
Page 11