Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-31 2024-12-31 2024-01-01 false No description of principal activity 1 1 false true SC643696 2024-01-01 2024-12-31 SC643696 2023-01-01 2023-12-31 SC643696 2024-12-31 SC643696 2023-12-31 SC643696 c:CompanySecretary1 2024-01-01 2024-12-31 SC643696 c:Director1 2024-01-01 2024-12-31 SC643696 c:RegisteredOffice 2024-01-01 2024-12-31 SC643696 d:OfficeEquipment 2024-01-01 2024-12-31 SC643696 d:OfficeEquipment 2024-12-31 SC643696 d:OfficeEquipment 2023-12-31 SC643696 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC643696 d:ComputerSoftware 2024-12-31 SC643696 d:ComputerSoftware 2023-12-31 SC643696 d:CurrentFinancialInstruments 2024-12-31 SC643696 d:CurrentFinancialInstruments 2023-12-31 SC643696 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 SC643696 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 SC643696 d:ShareCapital 2024-12-31 SC643696 d:ShareCapital 2023-12-31 SC643696 d:RetainedEarningsAccumulatedLosses 2024-12-31 SC643696 d:RetainedEarningsAccumulatedLosses 2023-12-31 SC643696 c:FRS102 2024-01-01 2024-12-31 SC643696 c:Audited 2024-01-01 2024-12-31 SC643696 c:FullAccounts 2024-01-01 2024-12-31 SC643696 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 SC643696 c:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 SC643696 d:ComputerSoftware d:OwnedIntangibleAssets 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Company registration number: SC643696
| FINANCIAL STATEMENTS
| FOR THE YEAR ENDED 31 DECEMBER 2024
| SOFTHETIC DEVELOPMENT LIMITED
SOFTHETIC DEVELOPMENT LIMITED |  |
COMPANY INFORMATION
Director | V Levykin
Company secretary | L Edison
Registered number | SC643696
Registered office | 5 South Charlotte Street
| Edinburgh
| Scotland
| EH2 4AN
Independent auditor | MHA
| 2 London Wall Place
| London
| EC2Y 5AU
SOFTHETIC DEVELOPMENT LIMITED |  |
CONTENTS
| Page
Statement of financial position | 1
Notes to the financial statements | 2 - 7
SOFTHETIC DEVELOPMENT LIMITED REGISTERED NUMBER:SC643696 |  |
STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible assets | 4 |  | 13,348 |  | 20,023
Tangible assets | 5 |  | 777,795 |  | 934,238
|  |  | 791,143 |  | 954,261
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 6 | 621,535 |  | 362,716 |
Cash at bank and in hand |  | 2,812,661 |  | 4,895,270 |
|  | 3,434,196 |  | 5,257,986 |
Creditors: amounts falling due within one year | 7 | (40,682) |  | (2,021,855) |
Net current assets |  |  | 3,393,514 |  | 3,236,131
Total assets less current liabilities |  |  | 4,184,657 |  | 4,190,392
Provisions for liabilities |  |  |  |  |
Deferred tax |  | (197,786) |  | (238,565) |
|  |  | (197,786) |  | (238,565)
Net assets |  |  | 3,986,871 |  | 3,951,827
Capital and reserves |  |  |  |  |
Allotted, called up and fully paid share capital | 8 |  | 1,735,000 |  | 1,735,000
Profit and loss account | 8 |  | 2,251,871 |  | 2,216,827
|  |  | 3,986,871 |  | 3,951,827
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 comprehensive income 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:
V Levykin
Director
Date: 10 November 2025
The notes on pages 2 to 7 form part of these financial statements. Page 1
SOFTHETIC DEVELOPMENT LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. | General information
Softhetic Development Limited is a private company limited by shares and is incorporated in Scotland. The address of the registered office is disclosed on the company information page. The company's principal trading activity is in relation to software development. 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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The following principal accounting policies have been applied:
| 2.2 | Going concern
The financial statements have been prepared on a going concern basis as the directors have concluded that the Company will generate sufficient future cash flows for it to continue as a going concern for the foreseeable future.
| 2.3 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP, and the accounts are rounded to the nearest £. 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.
| 2.4 | 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 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. 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. Page 2
SOFTHETIC DEVELOPMENT LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.5 | Current and deferred taxation (continued)
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
| 2.6 | 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. At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. 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. Amortisation is charged so as to allocate the cost of assets over their estimated useful lives of 5 years.
| 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. 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:
|  |  |  | Office Equipment | - | 7 years straight line basis
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. Page 3
SOFTHETIC DEVELOPMENT LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 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.
| 2.10 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.11 | Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the Statement of financial position.
| 2.12 | 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.
| 2.13 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
3. | Employees
| The average monthly number of employees, including the director, during the year was 1 (2023 - 1).
Page 4
SOFTHETIC DEVELOPMENT LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
4. | Intangible assets
|  | Computer software
|  | £
| Cost |
| At 1 January 2024 | 33,633
| At 31 December 2024 | 33,633
| Amortisation |
| At 1 January 2024 | 13,610
| Charge for the year | 6,675
| At 31 December 2024 | 20,285
| Net book value |
| At 31 December 2024 | 13,348
| At 31 December 2023 | 20,023
Page 5
SOFTHETIC DEVELOPMENT LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
5. | Tangible fixed assets
|  | Office equipment
|  | £
| Cost |
| At 1 January 2024 | 1,674,284
| Additions | 111,872
| At 31 December 2024 | 1,786,156
| Depreciation |
| At 1 January 2024 | 740,046
| Charge for the year | 268,315
| At 31 December 2024 | 1,008,361
| Net book value |
| At 31 December 2024 | 777,795
| At 31 December 2023 | 934,238
6. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade debtors | 597,161 | 345,284
| Other debtors | 2,258 | -
| Prepayments and accrued income | 22,116 | 17,432
|  | 621,535 | 362,716
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade creditors | 39,961 | 84,479
| Other taxation and social security | - | 91
| Dividends payable | - | 1,900,000
| Accruals and deferred income | 721 | 37,285
|  | 40,682 | 2,021,855
Page 6
SOFTHETIC DEVELOPMENT LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
8. | Reserves
Share capital The share capital account represents the par value of the shares allotted in the company. Profit and loss account The profit and loss account contains the balance of retained earnings to carry forward. It is fully distributable and shown as part of shareholders' reserves on the balance sheet.
9. | Parent company and controlling party
The parent of the smallest group for which consolidated financial statements are drawn up is Skyrora Ventures Limited, a company registered in England and Wales. The address of their registered office is: 7 Drum Mains Park, Cumbernauld, Scotland, G68 9LD. Skyrora Ventures Limited prepares consolidated financial statements, including Softhetic Development Limited, which are available from Companies House, Crown Way, Maindy, Cardiff, CF14 3UZ. M Polyakov is considered to be the ultimate controlling party.
10. | Auditor's information
The auditor's report on the financial statements for the year ended 31 December 2024 was unqualified. The audit report was signed on 12 November 2025 by Andrew Moyser FCA FCCA (Senior statutory auditor) on behalf of MHA.
Page 7