Caseware UK (AP4) 2021.0.152 2021.0.152 2022-02-282022-02-28true2021-03-01falseThe principal activity of the company is that of a holding company co-ordinating the activities of its subsidiary undertakings.00trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08695807 2021-03-01 2022-02-28 08695807 2020-03-01 2021-02-28 08695807 2022-02-28 08695807 2021-02-28 08695807 c:Director1 2021-03-01 2022-02-28 08695807 d:CurrentFinancialInstruments 2022-02-28 08695807 d:CurrentFinancialInstruments 2021-02-28 08695807 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 08695807 d:CurrentFinancialInstruments d:WithinOneYear 2021-02-28 08695807 d:ShareCapital 2022-02-28 08695807 d:ShareCapital 2021-02-28 08695807 d:SharePremium 2021-03-01 2022-02-28 08695807 d:SharePremium 2022-02-28 08695807 d:SharePremium 2021-02-28 08695807 d:OtherMiscellaneousReserve 2021-03-01 2022-02-28 08695807 d:OtherMiscellaneousReserve 2022-02-28 08695807 d:OtherMiscellaneousReserve 2021-02-28 08695807 d:RetainedEarningsAccumulatedLosses 2021-03-01 2022-02-28 08695807 d:RetainedEarningsAccumulatedLosses 2022-02-28 08695807 d:RetainedEarningsAccumulatedLosses 2021-02-28 08695807 c:OrdinaryShareClass1 2021-03-01 2022-02-28 08695807 c:OrdinaryShareClass1 2022-02-28 08695807 c:FRS102 2021-03-01 2022-02-28 08695807 c:AuditExempt-NoAccountantsReport 2021-03-01 2022-02-28 08695807 c:FullAccounts 2021-03-01 2022-02-28 08695807 c:PrivateLimitedCompanyLtd 2021-03-01 2022-02-28 08695807 d:Subsidiary1 2021-03-01 2022-02-28 08695807 d:Subsidiary1 1 2021-03-01 2022-02-28 08695807 d:Subsidiary2 2021-03-01 2022-02-28 08695807 d:Subsidiary2 1 2021-03-01 2022-02-28 08695807 d:Subsidiary3 2021-03-01 2022-02-28 08695807 d:Subsidiary3 1 2021-03-01 2022-02-28 08695807 6 2021-03-01 2022-02-28 08695807 13 2021-03-01 2022-02-28 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08695807









VIDAE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2022

 
VIDAE LIMITED
REGISTERED NUMBER: 08695807

BALANCE SHEET
AS AT 28 FEBRUARY 2022

2022
2021
Note
£
£

FIXED ASSETS
  

Investments
 4 
4,949,201
200

  
4,949,201
200

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 5 
59,264
39,336

Cash at bank and in hand
  
2,150,992
3,450,000

  
2,210,256
3,489,336

Creditors: amounts falling due within one year
 6 
(101)
(100)

NET CURRENT ASSETS
  
 
 
2,210,155
 
 
3,489,236

TOTAL ASSETS LESS CURRENT LIABILITIES
  
7,159,356
3,489,436

  

NET ASSETS
  
7,159,356
3,489,436


CAPITAL AND RESERVES
  

Called up share capital 
 7 
2,514
2,514

Share premium account
 8 
3,406,850
3,486,922

Other reserves
 8 
3,750,000
-

Profit and loss account
 8 
(8)
-

  
7,159,356
3,489,436


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 profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
VIDAE LIMITED
REGISTERED NUMBER: 08695807
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2022

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




A Hudd
Director

Date: 2 September 2022

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
VIDAE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2022

1.


GENERAL INFORMATION

Vidae Limited is a private company limited by shares and incorporated in England and Wales. Its registered office address is The Flight Sergeants Mess, Duxford Business Park, Hurdles Way, Duxford, Cambridge, CB22 4PA.
The Company's functional and presentational currency is GBP.

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

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.3

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.

 
2.4

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.

 
2.5

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.

Page 3

 
VIDAE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2022

2.ACCOUNTING POLICIES (CONTINUED)

 
2.6

CONVERTIBLE DEBT

The proceeds received on issue of the Company's convertible debt are allocated into their liability and equity components and presented separately in the Balance Sheet.

The amount initially attributed to the debt component equals the discounted cash flows using a market rate of interest that would be payable on a similar debt instrument that did not include an option to convert.

The difference between the net proceeds of the convertible debt and the amount allocated to the debt component is credited direct to equity and is not subsequently remeasured. On conversion, the debt and equity elements are credited to share capital and share premium as appropriate.

Transaction costs that relate to the issue of the instrument are allocated to the liability and equity components of the instrument in proportion to the allocation of proceeds.

 
2.7

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 Company has no employees other than the directors, who did not receive any remuneration (2021 - £NIL).

Page 4

 
VIDAE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2022

4.


FIXED ASSET INVESTMENTS





Investments in subsidiary companies

£



COST


At 1 March 2021
200


Additions
4,949,001



At 28 February 2022
4,949,201


SUBSIDIARY UNDERTAKINGS


The following were subsidiary undertakings of the Company:

Name

Class of shares

Holding

Alchemie Technology Limited
Ordinary
100%
Alchemie Digital Coatings Limited
Ordinary
100%
Jetronica Limited
Ordinary
100%


5.


DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022
2021
£
£


Amounts owed by group undertakings
57,264
37,336

Called up share capital not paid
2,000
2,000

59,264
39,336



6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022
2021
£
£

Amounts owed to group undertakings
101
100

101
100


Page 5

 
VIDAE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2022

7.


SHARE CAPITAL

2022
2021
£
£
ALLOTTED, CALLED UP AND FULLY PAID



5,136,257 Series Seed Preferred shares of £0.0001 each
514
514

ALLOTTED, CALLED UP AND UNPAID



15,000,000 Ordinary shares of £0.0001 each
1,500
1,500
5,000,000 Ordinary E shares of £0.0001 each
500
500

2,000

2,000



8.


RESERVES

Share premium account

Includes any premiums received on issue of share capital. Any transaction costs associated with the issuing of shares are deducted from share premium.

Other reserves

Comprises advance subscription funds received. The advance subscription funds shall convert to fully paid shares at the earlier of the following events:
(a) on the next qualifying equity financing round;
(b) on a sale of the company;
(c) on a mandatory conversion default event. 

Profit and loss account

Includes all current and prior year retained profits and losses.

 
Page 6