Caseware UK (AP4) 2024.0.164 2024.0.164 2025-02-282025-02-28The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2024-02-18falseNo description of principal activitytrue1false 15500248 2024-02-17 15500248 2024-02-18 2025-02-28 15500248 2025-02-28 15500248 2023-02-18 2024-02-17 15500248 c:Director1 2024-02-18 2025-02-28 15500248 d:ComputerEquipment 2024-02-18 2025-02-28 15500248 d:ComputerEquipment 2025-02-28 15500248 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-02-18 2025-02-28 15500248 d:ComputerSoftware 2025-02-28 15500248 d:OtherResidualIntangibleAssets 2024-02-18 2025-02-28 15500248 d:CurrentFinancialInstruments 2025-02-28 15500248 d:CurrentFinancialInstruments d:WithinOneYear 2025-02-28 15500248 d:ShareCapital 2025-02-28 15500248 d:SharePremium 2025-02-28 15500248 d:OtherMiscellaneousReserve 2025-02-28 15500248 d:RetainedEarningsAccumulatedLosses 2025-02-28 15500248 c:FRS102 2024-02-18 2025-02-28 15500248 c:AuditExempt-NoAccountantsReport 2024-02-18 2025-02-28 15500248 c:FullAccounts 2024-02-18 2025-02-28 15500248 c:PrivateLimitedCompanyLtd 2024-02-18 2025-02-28 15500248 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2024-02-18 2025-02-28 15500248 d:ComputerSoftware d:OwnedIntangibleAssets 2024-02-18 2025-02-28 15500248 e:PoundSterling 2024-02-18 2025-02-28 iso4217:GBP xbrli:pure
Company registration number: 15500248







UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
28 FEBRUARY 2025


TRUERIGHTS LTD






































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TRUERIGHTS LTD
REGISTERED NUMBER:15500248



STATEMENT OF FINANCIAL POSITION
AS AT 28 FEBRUARY 2025

2025
Note
£

Fixed assets
  

Intangible assets
 4 
121,049

Tangible assets
 5 
890

  
121,939

Current assets
  

Debtors: amounts falling due within one year
 6 
6,901

Cash at bank and in hand
  
2,959

  
9,860

Creditors: amounts falling due within one year
 7 
(21,677)

Net current liabilities
  
 
 
(11,817)

Total assets less current liabilities
  
110,122

  

Net assets
  
110,122


Capital and reserves
  

Called up share capital 
  
1

Share premium account
  
167,500

Share option reserve
  
3,750

Profit and loss account
  
(61,129)

  
110,122


Page 1

 


TRUERIGHTS LTD
REGISTERED NUMBER:15500248


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 28 FEBRUARY 2025

The director considers 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 period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his 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: 




................................................
B H C Woollams
Director

Date: 28 August 2025

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

Page 2

 


TRUERIGHTS LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2025

1.


General information

Truerights Limited is a private company limited by shares incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's principal place of business is the same as the registered office and is disclosed on the company information page.
The company was incorporated on 18 February 2024.
These financial statements present the activity of the company for the period from 18 February 2024 to 28 February 2025.

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.

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 income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 


TRUERIGHTS LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 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

Share-based payments

Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each reporting date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition.
The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the Company keeping the scheme open or the employee maintaining any contributions required by the scheme).
Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period.
Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.

 
2.5

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:

Website costs
-
over 3 years

Page 4

 


TRUERIGHTS LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2025

2.Accounting policies (continued)

 
2.6

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
-
over 5 years

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.

 
2.7

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, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the period was 1.

Page 5

 


TRUERIGHTS LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2025

4.


Intangible assets



Website costs

£



Cost


Additions
137,185



At 28 February 2025

137,185



Amortisation


Charge for the period on owned assets
16,136



At 28 February 2025

16,136



Net book value



At 28 February 2025
121,049




5.


Tangible fixed assets





Computer equipment

£



Cost or valuation


Additions
993



At 28 February 2025

993



Depreciation


Charge for the period on owned assets
103



At 28 February 2025

103



Net book value



At 28 February 2025
890

Page 6

 


TRUERIGHTS LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2025

6.


Debtors

2025
£


Other debtors
6,734

Prepayments and accrued income
167

6,901



7.


Creditors: Amounts falling due within one year

2025
£

Trade creditors
6,319

Other creditors
10,358

Accruals and deferred income
5,000

21,677



8.


Commitments under operating leases

The Company had commitments under non-cancellable operating leases of £3,000 at the reporting date.


9.


Related party transactions

An amount of £10,358 was due to the director at the 28 February 2025. No interest has been applied on this balance in the period.

 
Page 7