Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-31true2024-01-01falseThe principal activity of the company during the year was the provision of consultancy services related to thefinancial markets33trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 06810083 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 06810083 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 06810083 d:ComputerEquipment 2024-01-01 2024-12-31 06810083 d:ComputerEquipment 2024-12-31 06810083 d:ComputerEquipment 2023-12-31 06810083 d:CurrentFinancialInstruments 2024-12-31 06810083 d:CurrentFinancialInstruments 2023-12-31 06810083 c:Director2 2024-01-01 2024-12-31 06810083 c:FRS102 2024-01-01 2024-12-31 06810083 c:FullAccounts 2024-01-01 2024-12-31 06810083 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 06810083 d:FurnitureFittings 2024-01-01 2024-12-31 06810083 d:FurnitureFittings 2024-12-31 06810083 d:FurnitureFittings 2023-12-31 06810083 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 06810083 d:OfficeEquipment 2024-01-01 2024-12-31 06810083 d:OfficeEquipment 2024-12-31 06810083 d:OfficeEquipment 2023-12-31 06810083 c:OrdinaryShareClass1 2024-01-01 2024-12-31 06810083 c:OrdinaryShareClass1 2024-12-31 06810083 c:OrdinaryShareClass1 2023-12-31 06810083 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 06810083 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 06810083 d:RetainedEarningsAccumulatedLosses 2024-12-31 06810083 d:RetainedEarningsAccumulatedLosses 2023-12-31 06810083 d:ShareCapital 2024-12-31 06810083 d:ShareCapital 2023-12-31 06810083 2024-01-01 2024-12-31 06810083 6 2024-01-01 2024-12-31 06810083 2024-12-31 06810083 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 06810083 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 06810083 2023-01-01 2023-12-31 06810083 2023-12-31 06810083 e:PoundSterling 2024-01-01 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 06810083










NPV EUROPE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
NPV EUROPE LIMITED
REGISTERED NUMBER: 06810083

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
Restated 2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
979
1,895

Investments
 5 
495,171
645,931

  
496,150
647,826

Current assets
  

Debtors: amounts falling due within one year
 6 
1,794,879
1,162,414

Cash at bank and in hand
 7 
91,995
8,469

  
1,886,874
1,170,883

Creditors: amounts falling due within one year
 8 
(1,443,036)
(994,330)

Net current assets
  
 
 
443,838
 
 
176,553

Total assets less current liabilities
  
939,988
824,379

  

Net assets
  
939,988
824,379


Capital and reserves
  

Called up share capital 
 9 
250,000
250,000

Profit and loss account
  
689,988
574,379

  
939,988
824,379


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: 



G Gallazzi
Director

Date: 26 August 2025
Page 1

 
NPV EUROPE LIMITED
REGISTERED NUMBER: 06810083
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024


Page 2

 
NPV EUROPE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

NPV Europe Limited is a private company, limited by shares, registered in England and Wales, registration number 06810083. The registered office is 3rd Floor, 78/79 New Bond Street, London, W1S 1RZ.
NPV Europe Limited is the parent undertaking of a small group and is not required to prepare group accounts. These financial statements present information about the company as an individual undertaking and not about its group.

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 financial statements are prepared in £ sterling, the functional currency, rounded to the nearest £1

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis. 

 
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.

Page 3

 
NPV EUROPE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

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.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

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:

Fixtures and fittings
-
4 years straight line
Office equipment
-
4 years straight line
Computer equipment
-
4 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 disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
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 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.

Page 4

 
NPV EUROPE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.8

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.

Financial instruments are recognised in the company's Balance Sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Basic 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.

 
2.9

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.

Page 5

 
NPV EUROPE 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 pounds sterling, rounded to the nearest £1.

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'.

 
2.11

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.

 
2.12

Borrowing costs

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

 
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 balance sheet date in the countries where the company operates and generates income.


Page 6

 
NPV EUROPE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

3.


Employees

2024
2023
£
£

Wages and salaries
90,800
90,721

Social security costs
4,454
4,445

95,254
95,166


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


4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2024
7,921
1,887
12,311
22,119



At 31 December 2024

7,921
1,887
12,311
22,119



Depreciation


At 1 January 2024
7,688
1,524
11,012
20,224


Charge for the year
62
88
766
916



At 31 December 2024

7,750
1,612
11,778
21,140



Net book value



At 31 December 2024
171
275
533
979



At 31 December 2023
233
363
1,299
1,895

Page 7

 
NPV EUROPE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Fixed asset investments





Other fixed asset investments

£



Cost or valuation


At 1 January 2024 (as previously stated)
674,312


Prior Year Adjustment

(28,381)


At 1 January 2024 (as restated)
645,931


Additions
(150,760)



At 31 December 2024
495,171





6.


Debtors

2024
2023
£
£


Trade debtors
635,697
235,337

Amounts owed by group undertakings
474,610
166,819

Other debtors
680,905
756,591

Prepayments and accrued income
3,667
3,667

1,794,879
1,162,414



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
91,995
8,469

Less: bank overdrafts
-
(4,983)

91,995
3,486


Page 8

 
NPV EUROPE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
-
4,983

Trade creditors
5,502
12,227

Amounts owed to group undertakings
903,270
505,540

Corporation tax
32,226
6,750

Other taxation and social security
1,770
1,751

Other creditors
483,766
452,079

Accruals and deferred income
16,502
11,000

1,443,036
994,330





9.


Share capital

2024
2023
£
£
Authorised, allotted, called up and fully paid



250,000 (2023 : 250,000) Ordinary shares of £1.00 each
250,000
250,000



10.


Prior year adjustment

During the previous year the company sold investments costing £28,381 for £28,946. Whilst the sale had been recorded the cost was not disposed of from fixed asset investments. A prior period adjustment has been recorded to move the sale of £28,946 from turnover to profit on sale of investments and the cost of £28,381 has been charged to the profit and loss account within profit of sale of investments. 
As a result, as at 31 December 2023, retained earnings has reduced by £28,381 to £574,379.


11.


Parent company

The immediate parent company is SRI Global Limited, a company incorporated in England and Wales.

 
Page 9