Caseware UK (AP4) 2025.0.111 2025.0.111 2025-12-31 2025-12-31 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2025-01-01 false No description of principal activity 0 0 false true false 07554994 2025-01-01 2025-12-31 07554994 2024-01-01 2024-12-31 07554994 2025-12-31 07554994 2024-12-31 07554994 c:Director3 2025-01-01 2025-12-31 07554994 d:PlantMachinery 2025-01-01 2025-12-31 07554994 d:PlantMachinery 2025-12-31 07554994 d:PlantMachinery 2024-12-31 07554994 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2025-01-01 2025-12-31 07554994 d:ComputerSoftware 2025-12-31 07554994 d:ComputerSoftware 2024-12-31 07554994 d:CurrentFinancialInstruments 2025-12-31 07554994 d:CurrentFinancialInstruments 2024-12-31 07554994 d:Non-currentFinancialInstruments 2025-12-31 07554994 d:Non-currentFinancialInstruments 2024-12-31 07554994 d:CurrentFinancialInstruments d:WithinOneYear 2025-12-31 07554994 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 07554994 d:ShareCapital 2025-12-31 07554994 d:ShareCapital 2024-12-31 07554994 d:SharePremium 2025-12-31 07554994 d:SharePremium 2024-12-31 07554994 d:RetainedEarningsAccumulatedLosses 2025-12-31 07554994 d:RetainedEarningsAccumulatedLosses 2024-12-31 07554994 c:FRS102 2025-01-01 2025-12-31 07554994 c:AuditExempt-NoAccountantsReport 2025-01-01 2025-12-31 07554994 c:FullAccounts 2025-01-01 2025-12-31 07554994 c:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 07554994 2 2025-01-01 2025-12-31 07554994 6 2025-01-01 2025-12-31 07554994 e:PoundSterling 2025-01-01 2025-12-31 iso4217:GBP xbrli:pure

Registered number: 07554994 PUZL LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2025
PUZL LIMITED REGISTERED NUMBER: 07554994 BALANCE SHEET AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Investments | 6 |  | 713,693 |  | 665,109
|  |  | 713,693 |  | 665,109
Current assets |  |  |  |  |
Debtors: amounts falling due after more than one year | 7 | 2,007,595 |  | 1,805,638 |
Debtors: amounts falling due within one year | 7 | 545 |  | 542 |
Cash at bank and in hand | 8 | 476 |  | 19,098 |
|  | 2,008,616 |  | 1,825,278 |
Creditors: amounts falling due within one year | 9 | (30,129) |  | (140,415) |
Net current assets |  |  | 1,978,487 |  | 1,684,863
Total assets less current liabilities |  |  | 2,692,180 |  | 2,349,972
Net assets |  |  | 2,692,180 |  | 2,349,972
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 13,166 |  | 13,166
Share premium account |  |  | 2,890,339 |  | 2,890,339
Profit and loss account |  |  | (211,325) |  | (553,533)
|  |  | 2,692,180 |  | 2,349,972
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: Page 1
PUZL LIMITED REGISTERED NUMBER: 07554994 BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2025
L P Pancheva-Trifonova
Director
Date: 9 June 2026
The notes on pages 3 to 9 form part of these financial statements. Page 2
PUZL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | General information
Puzl Ltd is a private company limited by shares incorporated in England and Wales. The regsitered office is 61 New Concordia Wharf, Mill Street, London, SE1 2BB. 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
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors continue to adopt the going concern basis of accounting in preparing the financial statements.
| 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 | Interest income
Interest income is recognised in profit or loss using the effective interest method. Page 3
PUZL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.5 | 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.
| 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. 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 provided on the following bases:
|  |  |  | Software | - | 13% | Straight line
| 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:
|  |  |  | Plant and machinery | - | 10% | 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.
| 2.8 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment. Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment. Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period. Page 4
PUZL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.9 | 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.
| 2.10 | 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.
| 2.11 | 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 Company has no employees other than the directors, who did not receive any remuneration (2024 - £NIL).
| The average monthly number of employees, including directors, during the year was 0 (2024 - 0).
Page 5
PUZL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
4. | Intangible assets
|  | Computer software
|  | £
| Cost |
| At 1 January 2025 | 518,423
| At 31 December 2025 | 518,423
| Amortisation |
| At 1 January 2025 | 518,423
| At 31 December 2025 | 518,423
| Net book value |
| At 31 December 2025 | -
| At 31 December 2024 | -
Page 6
PUZL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
5. | Tangible fixed assets
|  | Plant and machinery
|  | £
| Cost or valuation |
| At 1 January 2025 | 4,512
| At 31 December 2025 | 4,512
| Depreciation |
| At 1 January 2025 | 4,512
| At 31 December 2025 | 4,512
| Net book value |
| At 31 December 2025 | -
| At 31 December 2024 | -
6. | Fixed asset investments
|  | Investments in subsidiary companies
|  | £
| Cost or valuation |
| At 1 January 2025 | 665,109
| Foreign exchange movement | 48,584
| At 31 December 2025 | 713,693
7. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Due after more than one year |  |
| Amounts owed by group undertakings | 2,007,595 | 1,805,638
Page 7
PUZL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 7.Debtors (continued)
|  | 2,007,595 | 1,805,638
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Due within one year |  |
| Other debtors | 545 | 542
|  | 545 | 542
8. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 476 | 19,098
|  | 476 | 19,098
9. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts owed to group undertakings | 27,979 | 27,979
| Other creditors | - | 110,386
| Accruals and deferred income | 2,150 | 2,050
|  | 30,129 | 140,415
Page 8
PUZL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
10. | Related party transactions
| Included within debtors due after one year are the following loans made to non UK companies registered in Bulgaria and Hungary, which are all wholly owned subsidiaries of Puzl Ltd . The loans are interest free. Company received dividends of £205,788 (2024 £214,182) from its subsidiary Puzl Office BG during the year.
|  | 2025 | 2024
|  | £ | £
| Puzl Web Development | 129,826 | 139,018
| Puzl Studio | - | 145,079
| Puzl BG | 7,887 | 31,434
| Puzl Cafe BG | 106,112 | 108,275
| Puzl Management HU | 976,822 | 642,005
| Puzl HU Zrt | 786,948 | 739,828
|  | 2,007,595 | 1,805,639
11. | Controlling party
The ultimate controlling party is Thibaut Taittinger.
Page 9