Caseware UK (AP4) 2024.0.164 2024.0.164 2024-07-312024-07-312023-08-01falseNo description of principal activity33truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11487442 2023-08-01 2024-07-31 11487442 2022-08-01 2023-07-31 11487442 2024-07-31 11487442 2023-07-31 11487442 c:Director1 2023-08-01 2024-07-31 11487442 d:ComputerEquipment 2023-08-01 2024-07-31 11487442 d:ComputerEquipment 2024-07-31 11487442 d:ComputerEquipment 2023-07-31 11487442 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 11487442 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-08-01 2024-07-31 11487442 d:ComputerSoftware 2024-07-31 11487442 d:ComputerSoftware 2023-07-31 11487442 d:CurrentFinancialInstruments 2024-07-31 11487442 d:CurrentFinancialInstruments 2023-07-31 11487442 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 11487442 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 11487442 d:ShareCapital 2024-07-31 11487442 d:ShareCapital 2023-07-31 11487442 d:SharePremium 2024-07-31 11487442 d:SharePremium 2023-07-31 11487442 d:RetainedEarningsAccumulatedLosses 2024-07-31 11487442 d:RetainedEarningsAccumulatedLosses 2023-07-31 11487442 c:OrdinaryShareClass2 2023-08-01 2024-07-31 11487442 c:OrdinaryShareClass2 2024-07-31 11487442 c:OrdinaryShareClass2 2023-07-31 11487442 c:FRS102 2023-08-01 2024-07-31 11487442 c:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 11487442 c:FullAccounts 2023-08-01 2024-07-31 11487442 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 11487442 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2023-08-01 2024-07-31 11487442 2 2023-08-01 2024-07-31 11487442 d:ComputerSoftware d:OwnedIntangibleAssets 2023-08-01 2024-07-31 11487442 e:PoundSterling 2023-08-01 2024-07-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11487442









GRANITEXS LTD (FORMERLY GRANITEME LTD)







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
GRANITEXS LTD (FORMERLY GRANITEME LTD)
REGISTERED NUMBER: 11487442

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
360,049
289,450

Tangible assets
 5 
4,367
644

  
364,416
290,094

Current assets
  

Debtors: amounts falling due within one year
 6 
75,814
69,408

Cash at bank and in hand
 7 
325,945
72,662

  
401,759
142,070

Creditors: amounts falling due within one year
 8 
(13,255)
(13,901)

Net current assets
  
 
 
388,504
 
 
128,169

Total assets less current liabilities
  
752,920
418,263

  

Net assets
  
752,920
418,263


Capital and reserves
  

Called up share capital 
 9 
287
182

Share premium account
  
1,325,496
692,248

Profit and loss account
  
(572,863)
(274,167)

  
752,920
418,263


Page 1

 
GRANITEXS LTD (FORMERLY GRANITEME LTD)
REGISTERED NUMBER: 11487442
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 2024

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 by: 




M Elvey
Director

Date: 31 July 2025

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

Page 2

 
GRANITEXS LTD (FORMERLY GRANITEME LTD)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Graniteme Limited is a private company, limited by shares, incorporated in the United Kingdom and registered in England and Wales (Registered number: 11487442). The registered office is 101 New Cavendish Street, 1st Floor South, London, United Kingdom, W1W 6XH.
The principal activity of the company continued to be that of software development.
The financial statements are presented in Sterling, which is the functional currency of the company.
During the year the company changed its name from GraniteME Ltd to GraniteXS Ltd.

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

 
GRANITEXS LTD (FORMERLY GRANITEME LTD)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.3

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.

 
2.4

Interest income

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

 
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

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.

 The estimated useful lives range as follows:

Development expenditure
-
5
years

 
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.

Page 4

 
GRANITEXS LTD (FORMERLY GRANITEME LTD)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)


2.7
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:

Computer equipment
-
25%
straight-line method

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.

 
2.8

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

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.

 
2.10

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 5

 
GRANITEXS LTD (FORMERLY GRANITEME LTD)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


Intangible assets




Computer software

£



Cost


At 1 August 2023
524,411


Additions
192,823



At 31 July 2024

717,234



Amortisation


At 1 August 2023
234,961


Charge for the year on owned assets
122,224



At 31 July 2024

357,185



Net book value



At 31 July 2024
360,049



At 31 July 2023
289,450



Page 6

 
GRANITEXS LTD (FORMERLY GRANITEME LTD)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 August 2023
2,352


Additions
4,794



At 31 July 2024

7,146



Depreciation


At 1 August 2023
1,708


Charge for the year on owned assets
1,071



At 31 July 2024

2,779



Net book value



At 31 July 2024
4,367



At 31 July 2023
644

Page 7

 
GRANITEXS LTD (FORMERLY GRANITEME LTD)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

6.


Debtors

2024
2023
£
£


Trade debtors
1,140
-

Other debtors
74,674
67,212

Prepayments and accrued income
-
2,196

75,814
69,408



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
325,945
72,662

325,945
72,662



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
79
6,026

Other taxation and social security
6,127
-

Other creditors
549
214

Accruals and deferred income
6,500
7,661

13,255
13,901



9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2,869,542 (2023 - 1,813,955) Ordinary share shares of £0.0001 each
286.9542
181.3955


During the year 1,055,587 Ordinary shares of £0.0001 each were issued.

 
Page 8