Caseware UK (AP4) 2024.0.164 2024.0.164 2024-05-31 2024-05-31 No description of principal activity The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-06-01 false 45 40 true true false 07345725 2023-06-01 2024-05-31 07345725 2022-06-01 2023-05-31 07345725 2024-05-31 07345725 2023-05-31 07345725 c:Director2 2023-06-01 2024-05-31 07345725 d:OfficeEquipment 2023-06-01 2024-05-31 07345725 d:OfficeEquipment 2024-05-31 07345725 d:OfficeEquipment 2023-05-31 07345725 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 07345725 d:ComputerEquipment 2023-06-01 2024-05-31 07345725 d:ComputerEquipment 2024-05-31 07345725 d:ComputerEquipment 2023-05-31 07345725 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 07345725 d:OtherPropertyPlantEquipment 2023-06-01 2024-05-31 07345725 d:OtherPropertyPlantEquipment 2024-05-31 07345725 d:OtherPropertyPlantEquipment 2023-05-31 07345725 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 07345725 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 07345725 d:CurrentFinancialInstruments 2024-05-31 07345725 d:CurrentFinancialInstruments 2023-05-31 07345725 d:Non-currentFinancialInstruments 2024-05-31 07345725 d:Non-currentFinancialInstruments 2023-05-31 07345725 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 07345725 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 07345725 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 07345725 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 07345725 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-05-31 07345725 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-05-31 07345725 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-05-31 07345725 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-05-31 07345725 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-05-31 07345725 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-05-31 07345725 d:ShareCapital 2024-05-31 07345725 d:ShareCapital 2023-05-31 07345725 d:SharePremium 2024-05-31 07345725 d:SharePremium 2023-05-31 07345725 d:RetainedEarningsAccumulatedLosses 2024-05-31 07345725 d:RetainedEarningsAccumulatedLosses 2023-05-31 07345725 c:FRS102 2023-06-01 2024-05-31 07345725 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 07345725 c:FullAccounts 2023-06-01 2024-05-31 07345725 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 07345725 2 2023-06-01 2024-05-31 07345725 6 2023-06-01 2024-05-31 07345725 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Registered number: 07345725 DRAW & CODE LTD. UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 MAY 2024
DRAW & CODE LTD. REGISTERED NUMBER: 07345725 STATEMENT OF FINANCIAL POSITION AS AT 31 MAY 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 185,332 |  | 207,175
Investments | 5 |  | 1,861 |  | 1,860
|  |  | 187,193 |  | 209,035
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 6 | 2,072,922 |  | 1,499,292 |
Cash at bank and in hand | 7 | 372,629 |  | 1,134,337 |
|  | 2,445,551 |  | 2,633,629 |
Creditors: amounts falling due within one year | 8 | (1,489,664) |  | (732,823) |
Net current assets |  |  | 955,887 |  | 1,900,806
Total assets less current liabilities |  |  | 1,143,080 |  | 2,109,841
Creditors: amounts falling due after more than one year | 9 |  | (6,405,341) |  | (4,732,282)
Net liabilities |  |  | (5,262,261) |  | (2,622,441)
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 1,130 |  | 1,130
Share premium account |  |  | 657,935 |  | 657,935
Profit and loss account |  |  | (5,921,326) |  | (3,281,506)
|  |  | (5,262,261) |  | (2,622,441)
Page 1
DRAW & CODE LTD. REGISTERED NUMBER: 07345725 STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 MAY 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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. 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 17 October 2025.
Andrew Joseph Cooper
Director
The notes on pages 3 to 11 form part of these financial statements. Page 2
DRAW & CODE LTD. NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024
1. | General information
Draw & Code Ltd. is a private company, limited by shares, incorporated in England and Wales under the Companies Act 2006. The address of the registered office is 24 Hardman Street, Liverpool, England, L1 9AX, and the company is a developer of entertainment software and ready-made interactive leisure systems. 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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies. 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
DRAW & CODE LTD. NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 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: 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 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
| 2.5 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.6 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.7 | 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 Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds. Page 4
DRAW & CODE LTD. NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 2.Accounting policies (continued)
| 2.8 | 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 reporting date in the countries where the Company operates and generates income.
| 2.9 | 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:
|  |  |  | Office equipment | - | 20% |
|  |  |  | Computer equipment | - | 33% |
|  |  |  | Other fixed assets | - | 33% |
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.
| 2.10 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment.
| 2.11 | 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. Accrued income includes amounts earned on contracts based on percentage work in progress based on a percentage completion basis for services ongoing. Page 5
DRAW & CODE LTD. NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 2.Accounting policies (continued)
| 2.12 | 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.
| 2.13 | 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.
3. | Employees
| The average monthly number of employees, including the directors, during the year was as follows:
|  |  | 2024 | 2023
|  |  | No. | No.
|  | General | 45 | 40
Page 6
DRAW & CODE LTD. NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024
4. | Tangible fixed assets
|  | Office equipment | Computer equipment | Other fixed assets | Total
|  | £ | £ | £ | £
| Cost or valuation |  |  |  |
| At 1 June 2023 | 25,830 | 155,780 | 167,177 | 348,787
| Additions | 824 | 3,724 | 60,255 | 64,803
| Disposals | - | (12,348) | - | (12,348)
| At 31 May 2024 | 26,654 | 147,156 | 227,432 | 401,242
| Depreciation |  |  |  |
| At 1 June 2023 | 19,667 | 96,602 | 25,344 | 141,613
| Charge for the year on owned assets | 1,358 | 20,076 | 60,604 | 82,038
| Disposals | - | (7,741) | - | (7,741)
| At 31 May 2024 | 21,025 | 108,937 | 85,948 | 215,910
| Net book value |  |  |  |
| At 31 May 2024 | 5,629 | 38,219 | 141,484 | 185,332
| At 31 May 2023 | 6,164 | 59,178 | 141,833 | 207,175
Page 7
DRAW & CODE LTD. NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024
5. | Fixed asset investments
|  | Investments in subsidiary companies
|  | £
| Cost or valuation |
| At 1 June 2023 | 1,860
| Additions | 1
| At 31 May 2024 | 1,861
6. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade debtors | 132,161 | 198,655
| Amounts owed by group undertakings | 1,481,810 | 914,764
| Other debtors | 88,061 | 59,405
| Prepayments and accrued income | 10,330 | 15,099
| Tax recoverable | 360,560 | 311,369
|  | 2,072,922 | 1,499,292
7. | Cash and cash equivalents
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Cash at bank and in hand | 372,629 | 1,134,337
|  | 372,629 | 1,134,337
Page 8
DRAW & CODE LTD. NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Bank loans | 70,000 | 64,061
| Trade creditors | 496,561 | 186,326
| Other taxation and social security | 329,864 | 54,345
| Other creditors | 114,884 | 89,914
| Accruals and deferred income | 478,355 | 338,177
|  | 1,489,664 | 732,823
9. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Bank loans | 12,282 | 82,282
| Other loans | 6,393,059 | 4,650,000
|  | 6,405,341 | 4,732,282
| The aggregate amount of liabilities repayable wholly or in part more than five years after the reporting date is:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Repayable other than by instalments | 6,393,059 | 4,650,000
|  | 6,393,059 | 4,650,000
Page 9
DRAW & CODE LTD. NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024
10. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Amounts falling due within one year |  |
| Bank loans | 70,000 | 64,061
|  | 70,000 | 64,061
| Amounts falling due 1-2 years |  |
| Bank loans | 12,282 | 70,000
|  | 12,282 | 70,000
| Amounts falling due 2-5 years |  |
| Bank loans | - | 12,282
|  | - | 12,282
| Amounts falling due after more than 5 years |  |
| Other loans | 6,393,059 | 4,650,000
|  | 6,393,059 | 4,650,000
|  | 6,475,341 | 4,796,343
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 £73,059 (2023 - £51,920). Contributions totalling £9,775 (2023 - £9,800) were payable to the fund at the reporting date and are included in creditors. Page 10
DRAW & CODE LTD. NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024
12. | Related party transactions
| Included in other debtors are amounts owed by Swap Bots Limited, a subsidiary of Draw & Code Ltd., totalling £486,331 (2023 - £432,535). Balances are interest-free and repayable on demand. Included in other creditors are amounts owed to the directors at the reporting date, comprising £15,606 (2023 - £nil) owed to Andrew Cooper, and £2,786 (2023 - £nil) owed to John Keefe. The balances are repayable on demand and no interest has been charged. Included in creditors due after one year are Other Loans owing to Entain Holdings (UK) Limited. The loans are repayable between 2031 and 2034 and carry an interest rate of 5%. The company has taken advantage of the available exemption under FRS 102 not to disclose transactions with wholly owned members of the Group.
13. | Controlling party
The directors do not consider there to be any one controlling party.
Page 11