Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-31truefalseNo description of principal activityfalse2024-01-01false54The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14295449 2024-01-01 2024-12-31 14295449 2022-08-15 2023-12-31 14295449 2024-12-31 14295449 2023-12-31 14295449 c:Director1 2024-01-01 2024-12-31 14295449 c:Director2 2024-01-01 2024-12-31 14295449 c:Director3 2024-01-01 2024-12-31 14295449 c:Director4 2024-01-01 2024-12-31 14295449 c:RegisteredOffice 2024-01-01 2024-12-31 14295449 d:ComputerEquipment 2024-01-01 2024-12-31 14295449 d:ComputerEquipment 2024-12-31 14295449 d:ComputerEquipment 2023-12-31 14295449 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 14295449 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-12-31 14295449 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 14295449 d:ComputerSoftware 2024-12-31 14295449 d:ComputerSoftware 2023-12-31 14295449 d:CurrentFinancialInstruments 2024-12-31 14295449 d:CurrentFinancialInstruments 2023-12-31 14295449 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 14295449 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 14295449 d:ShareCapital 2024-12-31 14295449 d:ShareCapital 2023-12-31 14295449 d:SharePremium 2024-12-31 14295449 d:SharePremium 2023-12-31 14295449 d:OtherMiscellaneousReserve 2024-12-31 14295449 d:OtherMiscellaneousReserve 2023-12-31 14295449 d:RetainedEarningsAccumulatedLosses 2024-12-31 14295449 d:RetainedEarningsAccumulatedLosses 2023-12-31 14295449 c:FRS102 2024-01-01 2024-12-31 14295449 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 14295449 c:FullAccounts 2024-01-01 2024-12-31 14295449 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 14295449 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2024-01-01 2024-12-31 14295449 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2024-01-01 2024-12-31 14295449 2 2024-01-01 2024-12-31 14295449 6 2024-01-01 2024-12-31 14295449 d:ExternallyAcquiredIntangibleAssets 2024-01-01 2024-12-31 14295449 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2024-01-01 2024-12-31 14295449 d:ComputerSoftware d:OwnedIntangibleAssets 2024-01-01 2024-12-31 14295449 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure
Company registration number: 14295449







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024


MSL EDGE EUROPE LTD






































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MSL EDGE EUROPE LTD
 


 
COMPANY INFORMATION


Directors
T Walter 
M Muscato 
C Doyle 
L Britton 




Registered number
14295449



Registered office
1st Floor
48 Chancery Lane

London

WC2A 1JF




Accountants
Menzies LLP
Chartered Accountants

Magna House

18-32 London Road

Staines-Upon-Thames

TW18 4BP





 


MSL EDGE EUROPE LTD
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 7


 


MSL EDGE EUROPE LTD
REGISTERED NUMBER:14295449



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
9,610,554
9,852,339

Tangible assets
 5 
658
878

Investments
 6 
23,737
785

  
9,634,949
9,854,002

Current assets
  

Debtors: amounts falling due within one year
 7 
125,391
16,508

Cash at bank and in hand
  
26,060
10,831

  
151,451
27,339

Creditors: amounts falling due within one year
 8 
(2,786,133)
(1,040,894)

Net current liabilities
  
 
 
(2,634,682)
 
 
(1,013,555)

Total assets less current liabilities
  
7,000,267
8,840,447

  

Net assets
  
7,000,267
8,840,447


Capital and reserves
  

Called up share capital 
  
10,384
10,151

Share premium account
  
511,239
342,064

Other reserves
  
10,000,000
10,000,000

Profit and loss account
  
(3,521,356)
(1,511,768)

  
7,000,267
8,840,447


Page 1

 


MSL EDGE EUROPE LTD
REGISTERED NUMBER:14295449


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 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 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: 

T Walter
Director

Date: 8 August 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 


MSL EDGE EUROPE LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

MSL Edge Europe Limited is a private company, limited by shares, incorporated in England and Wales. The company's registered number and registered office address can be found on the Company Information page. As the company operates on a remote basis, they do not have a defined principal place of business.
The company was incorporated on 15 August 2022 and as such the prior period financial statements were the first produced by the company, representing a period of longer than one year and as such are not comparable to the current year balances.

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

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.

 
2.3

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 generated via providing a payment processing platform to customers and is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

 
2.4

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.

Page 3

 


MSL EDGE EUROPE LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.5

Interest income

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

 
2.6

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.

 
2.7

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.
 
Computer software gifted to the entity by way of a capital contribution is recognised under the cost model, as above. Cost on recognition is measured as the fair value at the date of acquisition, as assessed by the directors. 

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.

 
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, on a reducing balance basis.

Depreciation is provided on the following basis:

Computer equipment
-
25%
reducing balance

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.

 
2.9

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 Income and Retained Earnings 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.

Page 4

 


MSL EDGE EUROPE LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.10

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.


3.


Employees

The average number of monthly employees during the period, including directors, was 5 (2023 - 4).


4.


Intangible assets




Development expenditure
Computer software
Total

£
£
£



Cost 


At 1 January 2024
304,486
10,633,284
10,937,770


Additions
-
946,659
946,659



At 31 December 2024

304,486
11,579,943
11,884,429



Amortisation


At 1 January 2024
30,449
1,054,982
1,085,431


Charge for the year on owned assets
30,449
1,157,995
1,188,444



At 31 December 2024

60,898
2,212,977
2,273,875



Net book value



At 31 December 2024
243,588
9,366,966
9,610,554



At 31 December 2023
274,037
9,578,302
9,852,339

Included within Computer Software is a gift by way of a capital contribution by one of the shareholders. This is recognised under the cost model, with a cost measured as the fair value at the date of acquisition as assessed by the directors, of £10,000,000 (2023: £10,000,000). 



Page 5

 


MSL EDGE EUROPE LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 January 2024
937



At 31 December 2024

937



Depreciation


At 1 January 2024
59


Charge for the year on owned assets
220



At 31 December 2024

279



Net book value



At 31 December 2024
658



At 31 December 2023
878


6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2024
785


Additions
22,952



At 31 December 2024
23,737




Page 6

 


MSL EDGE EUROPE LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Debtors

2024
2023
£
£


Trade debtors
8,697
-

Amounts owed by group undertakings
96,859
-

Other debtors
362
-

Prepayments and accrued income
19,473
16,508

125,391
16,508



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
562,483
562,378

Amounts owed to group undertakings
106,962
704

Other creditors
1,538,305
257,041

Accruals and deferred income
578,383
220,771

2,786,133
1,040,894


Included within other creditors is an amount of £1,293,238 (2023 - £213,533) owed to directors of the company. These loans are accruing interest and are repayable on demand.

 
Page 7