Caseware UK (AP4) 2024.0.164 2024.0.164 false2true2024-01-01No description of principal activity3truefalse 10607888 2023-12-31 10607888 2024-01-01 2024-12-31 10607888 2023-01-01 2023-12-31 10607888 2024-12-31 10607888 c:Director2 2024-01-01 2024-12-31 10607888 d:ComputerEquipment 2024-01-01 2024-12-31 10607888 d:ComputerEquipment 2024-12-31 10607888 d:ComputerEquipment 2023-12-31 10607888 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 10607888 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 10607888 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-12-31 10607888 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 10607888 d:CurrentFinancialInstruments 2024-12-31 10607888 d:CurrentFinancialInstruments 2023-12-31 10607888 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 10607888 d:ShareCapital 2024-12-31 10607888 d:ShareCapital 2023-12-31 10607888 d:SharePremium 2024-12-31 10607888 d:RetainedEarningsAccumulatedLosses 2024-12-31 10607888 c:FRS102 2024-01-01 2024-12-31 10607888 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 10607888 c:FullAccounts 2024-01-01 2024-12-31 10607888 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 10607888 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2024-01-01 2024-12-31 10607888 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2024-01-01 2024-12-31 10607888 e:PoundSterling 2024-01-01 2024-12-31 10607888 d:IncreaseDecreaseDueToTransitionFromPreviousStandard 2023-12-31 10607888 d:RetainedEarningsAccumulatedLosses d:IncreaseDecreaseDueToTransitionFromPreviousStandard 2023-12-31 10607888 d:CurrentFinancialInstruments d:WithinOneYear d:IncreaseDecreaseDueToTransitionFromPreviousStandard 2023-12-31 10607888 d:SharePremiumOtherShareTypes d:IncreaseDecreaseDueToTransitionFromPreviousStandard 2023-12-31 10607888 d:CurrentFinancialInstruments d:IncreaseDecreaseDueToTransitionFromPreviousStandard 2023-12-31 10607888 d:EntityControlledByKeyManagementPersonnel1 2024-01-01 2024-12-31 10607888 d:EntityControlledByKeyManagementPersonnel1 2024-12-31 10607888 d:EntityControlledByKeyManagementPersonnel1 2023-12-31 iso4217:GBP xbrli:pure


















Alacrity Law Limited























Unaudited

Financial statements



For the year ended 31 December 2024



Registered number: 10607888

 
Alacrity Law Limited - Registered number: 10607888



Statement of financial position
As at 31 December 2024

2024
2024
As restated
2023
As restated
2023
Note
£
£
£
£

Fixed assets
  

Intangible assets
 4 
968,001
1,038,758

Tangible assets
 5 
393
1,695

  
968,394
1,040,453

Current assets
  

Debtors: amounts falling due within one year
 6 
68,403
50,044

Cash at bank and in hand
  
71,462
18,900

  
139,865
68,944

Creditors: amounts falling due within one year
 7 
(619,980)
(449,837)

Net current liabilities
  
 
 
(480,115)
 
 
(380,893)

Total assets less current liabilities
  
488,279
659,560

  

Net assets
  
488,279
659,560


Capital and reserves
  

Share capital
  
177
177

Share premium account
  
3,020,870
3,020,870

Profit and loss account
  
(2,532,768)
(2,361,487)

  
488,279
659,560

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.







 
Page 1

 
Alacrity Law Limited - Registered number: 10607888



Statement of financial position (continued)
As at 31 December 2024


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.
Page 2

 
Alacrity Law Limited - Registered number: 10607888



Statement of financial position (continued)
As at 31 December 2024


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: 




C D Thurn
Director

Date: 4 August 2025

The notes on pages 4 to 9 form part of these financial statements.
Page 3

 
Alacrity Law Limited


Notes to the financial statements
For the year ended 31 December 2024

1.


General information

The company is a private company limited by shares and incorporated in England and Wales. Its registered office is C/O Buzzacott LLP, 130 Wood Street, London, EC2V 6DL. The company registration number is 10607888.

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 Section 1A of Financial Reporting Standard 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS102') and the Companies Act 2006.

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

The following principal accounting policies have been applied:

 
2.2

Going concern

The company has received assurance from its shareholders that they will continue to give financial support to the company for a period of at least twelve months from the date of approval of these financial statements sufficient to enable the company to meet its liabilities as and when they fall due for the foreseeable future. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. However, should the financial support mentioned above not be forthcoming, the going concern basis used in preparing the company's financial statements may be invalid and adjustments would have to be made necessary should this basis not continue to be appropriate.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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 4

 
Alacrity Law Limited
 

Notes to the financial statements
For the year ended 31 December 2024

2.Accounting policies (continued)

 
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.

The estimated useful lives range as follows:

Development expenditure
- 10
years

 
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 provided on the following basis:

Computer equipment
-
3 years 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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the statement of income and retained earnings.

 
2.6

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.

 
2.7

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.8

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.

  
2.9

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

Page 5

 
Alacrity Law Limited
 

Notes to the financial statements
For the year ended 31 December 2024

2.Accounting policies (continued)

 
2.10

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.

 
2.11

Operating leases: the company as lessee

Rentals paid under operating leases are charged to the Statement of income and retained earnings on a straight line basis over the lease term.

 
2.12

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.

 
2.13

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 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.


Page 6

 
Alacrity Law Limited
 

Notes to the financial statements
For the year ended 31 December 2024

2.Accounting policies (continued)

 
2.14

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 the period which the company is expected to benefit.
If itis 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 3 (2023 - 2).








4.


Intangible assets




Development expenditure

£



Cost


At 1 January 2024
1,429,334


Additions
75,945



At 31 December 2024

1,505,279



Amortisation


At 1 January 2024
390,576


Charge for the year
146,702



At 31 December 2024

537,278



Net book value



At 31 December 2024
968,001



At 31 December 2023
1,038,758



Page 7

 
Alacrity Law Limited


Notes to the financial statements
For the year ended 31 December 2024

5.


Tangible fixed assets





Computer equipment

£



Cost 


At 1 January 2024
14,744



At 31 December 2024

14,744



Depreciation


At 1 January 2024
13,049


Charge for the year
1,302



At 31 December 2024

14,351



Net book value



At 31 December 2024
393



At 31 December 2023
1,695


6.


Debtors

2024
As restated
2023
£
£


Trade debtors
4,100
-

Other debtors
64,303
50,044

68,403
50,044


Page 8

 
Alacrity Law Limited


Notes to the financial statements
For the year ended 31 December 2024

7.


Creditors: amounts falling due within one year

2024
2023
£
£

Trade creditors
43,117
45,225

Other taxation and social security
64,361
26,804

Other creditors
398,500
296,000

Accruals and deferred income
114,002
81,808

619,980
449,837



8.


Pension commitments

The company operates a defined contribution 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  £2,641 (2023 -  £1,742) during the year. Contributions totaling £513 (2023 - £257) were payable to the fund at 31 December 2024.

9.


Prior year adjustment

An adjustment has been made in respect of the prior year for the company to derecognise the deferred tax asset on the basis that the company is still not profit making. The effects of the adjustment are a decrease in the deferred tax asset by £497,526 and an increase in the tax on loss by £497,526.


10.


Related party transactions

At the year end, the company owed £189,000 (2023: £189,000) to close family members of a directorThe loan is interest free and repayable on demand.


Page 9