Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-31 2024-12-31 false 2024-01-01 No description of principal activity 1 4 false true The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 06879358 2024-01-01 2024-12-31 06879358 2023-01-01 2023-12-31 06879358 2024-12-31 06879358 2023-12-31 06879358 c:Director1 2024-01-01 2024-12-31 06879358 d:OfficeEquipment 2024-01-01 2024-12-31 06879358 d:OfficeEquipment 2024-12-31 06879358 d:OfficeEquipment 2023-12-31 06879358 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 06879358 d:CurrentFinancialInstruments 2024-12-31 06879358 d:CurrentFinancialInstruments 2023-12-31 06879358 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 06879358 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 06879358 d:ShareCapital 2024-12-31 06879358 d:ShareCapital 2023-12-31 06879358 d:SharePremium 2024-12-31 06879358 d:SharePremium 2023-12-31 06879358 d:RetainedEarningsAccumulatedLosses 2024-12-31 06879358 d:RetainedEarningsAccumulatedLosses 2023-12-31 06879358 c:FRS102 2024-01-01 2024-12-31 06879358 c:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 06879358 c:FullAccounts 2024-01-01 2024-12-31 06879358 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 06879358 4 2024-01-01 2024-12-31 06879358 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 06879358 SEDITION LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2024
SEDITION LIMITED CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SEDITION LIMITED FOR THE YEAR ENDED 31 DECEMBER 2024 In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SEDITION LIMITED for the year ended 31 December 2024 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation. This report is made solely to the Board of directors of SEDITION LIMITED, as a body, in accordance with the terms of our engagement letter dated 6 May 2025. Our work has been undertaken solely to prepare for your approval the financial statements of SEDITION LIMITED and state those matters that we have agreed to state to the Board of directors of SEDITION LIMITED, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SEDITION LIMITED and its Board of directors, as a body, for our work or for this report. It is your duty to ensure that SEDITION LIMITED has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of SEDITION LIMITED. You consider that SEDITION LIMITED is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or review of the financial statements of SEDITION LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. The Woodstock Accountancy Practice Limited Chartered Accountants Woodstock Oxfordshire OX20 1SY 3 October 2025 Page 1
SEDITION LIMITED REGISTERED NUMBER: 06879358 BALANCE SHEET AS AT 31 DECEMBER 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 4,859 |  | 8,005
|  |  | 4,859 |  | 8,005
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 5 | 6,320 |  | 161,326 |
Cash at bank and in hand | 6 | 8,239 |  | 14,628 |
|  | 14,559 |  | 175,954 |
Creditors: amounts falling due within one year | 7 | (143,540) |  | (1,242,666) |
Net current liabilities |  |  | (128,981) |  | (1,066,712)
Total assets less current liabilities |  |  | (124,122) |  | (1,058,707)
Net liabilities |  |  | (124,122) |  | (1,058,707)
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 10,800 |  | 10,800
Share premium account |  |  | 999,200 |  | 999,200
Profit and loss account |  |  | (1,134,122) |  | (2,068,707)
|  |  | (124,122) |  | (1,058,707)
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SEDITION LIMITED REGISTERED NUMBER: 06879358 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 on 3 October 2025.
D De Blaquiere
Director
The notes on pages 4 to 9 form part of these financial statements. Page 3
SEDITION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. | General information
Sedition Limited is a private company limited by shares, incorporated in England and Wales, Company Registration Number 06879358. The registered office is 3a Market Place, Woodstock, Oxon, OX20 1SY. The principal activity of the company continues to be that of dealers in digital format art. 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 4
SEDITION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 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: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
| 2.4 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.5 | 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.
| 2.6 | Exceptional items
Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.
| 2.7 | 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
SEDITION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.7 | Tangible fixed assets (continued)
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:
|  |  |  | Office equipment | - | 20% | 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.
| 2.8 | 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.
| 2.9 | 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.
| 2.10 | 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.
| 2.11 | 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 Page 6
SEDITION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.11 | Financial instruments (continued)
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. Impairment of financial assets At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate. If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss. 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.
3. | Employees
| The average monthly number of employees, including directors, during the year was 1 (2023 - 4).
Page 7
SEDITION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
4. | Tangible fixed assets
|  | Office equipment
|  | £
| Cost or valuation |
| At 1 January 2024 | 29,317
| Disposals | (21,432)
| At 31 December 2024 | 7,885
| Depreciation |
| At 1 January 2024 | 21,312
| Charge for the year on owned assets | 1,657
| Disposals | (19,943)
| At 31 December 2024 | 3,026
| Net book value |
| At 31 December 2024 | 4,859
| At 31 December 2023 | 8,005
Page 8
SEDITION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
5. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade debtors | 4,939 | 150,139
| Other debtors | - | 9,834
| Prepayments and accrued income | 1,381 | 1,353
|  | 6,320 | 161,326
6. | Cash and cash equivalents
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Cash at bank and in hand | 8,239 | 14,628
| Less: bank overdrafts | (272) | (1,802)
|  | 7,967 | 12,826
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Bank overdrafts | 272 | 1,802
| Trade creditors | 63,801 | 109,412
| Amounts owed to group undertakings | 30,282 | 1,104,000
| Other taxation and social security | 22,940 | 5,410
| Other creditors | 23,745 | 19,542
| Accruals and deferred income | 2,500 | 2,500
|  | 143,540 | 1,242,666
8. | Related party transactions
| At the end of the year, the company owed the director £Nil (2023: £18,288).
9. | Controlling party
The parent company is Muse Frame Pty Ltd, a company incorporated and registered in Australia with Australian company number 655510624 and whose registeerd office is at 15 Featherstone Place, Adelaide, South Australia, 5000. Page 9
SEDITION LIMITED
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