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Registered number: 11025218









GWT INSIGHT LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
GWT INSIGHT LIMITED
REGISTERED NUMBER: 11025218

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
145,647
109,033

Tangible assets
 5 
18,661
30,945

  
164,308
139,978

Current assets
  

Stocks
  
48,262
36,346

Debtors: amounts falling due within one year
 6 
185,744
415,927

Cash at bank and in hand
 7 
43,136
2,208

  
277,142
454,481

Creditors: amounts falling due within one year
 8 
(579,296)
(407,006)

Net current (liabilities)/assets
  
 
 
(302,154)
 
 
47,475

Total assets less current liabilities
  
(137,846)
187,453

Creditors: amounts falling due after more than one year
 9 
(3,010)
(24,618)

  

Net (liabilities)/assets
  
(140,856)
162,835


Capital and reserves
  

Called up share capital 
  
121
121

Share premium account
  
178,002
178,002

Capital redemption reserve
  
5
5

Profit and loss account
  
(318,984)
(15,293)

  
(140,856)
162,835


Page 1

 
GWT INSIGHT LIMITED
REGISTERED NUMBER: 11025218
    
BALANCE SHEET (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: 




P A Youell
Director

Date: 28 August 2025

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
GWT INSIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

GWT Insight Limited is a company limited by shares incorporated in England and Wales within the  United Kingdom. The address of the registered office is The Granary, Unit 2 Aston Sandford, Aylesbury, Buckinghamshire, HP17 8JB..
The principal activity of the company is a data service company.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. 
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 

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

Going concern

The financial statements have been prepared on a going concern basis, which assumes that the company will be able to continue its operations for the foreseeable future, being at least the next twelve months.
 
The company has received ongoing financial support through loans and as a result, the directors believe the company will continue to operate for the foressable future and that the going concern basis remains appropriate. 

Page 3

 
GWT INSIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.3

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'.

 
2.4

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.

 
2.5

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.

 
2.6

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.

Page 4

 
GWT INSIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.7

Borrowing costs

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

 
2.8

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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

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.


 
2.10

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.

 
2.11

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 5

 
GWT INSIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.11
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:

Motor vehicles
-
25%
straight line
Fixtures and fittings
-
25%
straight line
Office equipment
-
25%
straight line
Computer equipment
-
33%
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.

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell


3.


Employees

The average monthly number of employees, including directors, during the year was 11 (2023 - 7).

Page 6

 
GWT INSIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Intangible assets




Development expenditure

£



Cost


At 1 January 2024
373,701


Additions - internal
108,328



At 31 December 2024

482,029



Amortisation


At 1 January 2024
264,668


Charge for the year on owned assets
71,714



At 31 December 2024

336,382



Net book value



At 31 December 2024
145,647



At 31 December 2023
109,033



Page 7

 
GWT INSIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2024
46,645
5,920
481
3,892
56,938


Additions
-
-
1,244
1,449
2,693



At 31 December 2024

46,645
5,920
1,725
5,341
59,631



Depreciation


At 1 January 2024
23,323
1,362
96
1,213
25,994


Charge for the year on owned assets
11,661
1,480
357
1,478
14,976



At 31 December 2024

34,984
2,842
453
2,691
40,970



Net book value



At 31 December 2024
11,661
3,078
1,272
2,650
18,661



At 31 December 2023
23,323
4,557
385
2,680
30,945


6.


Debtors

2024
2023
£
£


Trade debtors
121,502
393,368

Other debtors
44,093
22,559

Tax recoverable
20,149
-

185,744
415,927


Page 8

 
GWT INSIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
43,136
2,208

Less: bank overdrafts
-
(12,787)

43,136
(10,579)



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
-
12,787

Bank loans
6,389
6,389

Trade creditors
155,530
110,114

Other taxation and social security
18,092
24,050

Obligations under finance lease and hire purchase contracts
13,912
9,412

Other creditors
385,373
243,824

Accruals and deferred income
-
430

579,296
407,006



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
3,010
9,081

Net obligations under finance leases and hire purchase contracts
-
15,537

3,010
24,618


Page 9

 
GWT INSIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
6,389
6,389


6,389
6,389

Amounts falling due 1-2 years

Bank loans
3,010
9,081


3,010
9,081


9,399
15,470



11.


Pension commitments

The Company operates a defined contributions 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 £9,052 (2023: £7,292).


12.


Transactions with directors

At the balance sheet date, one of the directors owed the company £35,928. This balance was repaid within 9 months of the year end. 

 
Page 10