Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31Technology Services32022-01-014falsetruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12843841 2022-01-01 2022-12-31 12843841 2021-01-01 2021-12-31 12843841 2022-12-31 12843841 2021-12-31 12843841 c:Director3 2022-01-01 2022-12-31 12843841 d:CurrentFinancialInstruments 2022-12-31 12843841 d:CurrentFinancialInstruments 2021-12-31 12843841 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 12843841 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 12843841 d:ShareCapital 2022-12-31 12843841 d:ShareCapital 2021-12-31 12843841 d:RetainedEarningsAccumulatedLosses 2022-12-31 12843841 d:RetainedEarningsAccumulatedLosses 2021-12-31 12843841 c:OrdinaryShareClass1 2022-01-01 2022-12-31 12843841 c:OrdinaryShareClass1 2022-12-31 12843841 c:OrdinaryShareClass1 2021-12-31 12843841 c:FRS102 2022-01-01 2022-12-31 12843841 c:Audited 2022-01-01 2022-12-31 12843841 c:FullAccounts 2022-01-01 2022-12-31 12843841 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 12843841 c:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12843841









FORIS DAX UK LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
FORIS DAX UK LIMITED
REGISTERED NUMBER: 12843841

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2022

2022
2021
Notes
£
£

  

Current asset
  

Debtor
 4 
1
1

Cash at bank and in hand
 5 
9
-

Current liabilities
  
10
1

Creditors: amounts falling due within one year
 6 
(289,049)
(200,032)

Net current liabilities
  
 
 
(289,039)
 
 
(200,031)

Total asset less current liabilities
  
(289,039)
(200,031)

  

Net liabilities
  
(289,039)
(200,031)


Capital and reserves
  

Called up share capital 
 7 
1
1

Profit and loss account
  
(289,040)
(200,032)

  
(289,039)
(200,031)


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: 




................................................
R De Marco E Melo
Director

Date: 2 October 2023

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
FORIS DAX UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

Foris DAX UK Limited ("the Company") intends to provide services related to the management and operation of a wallet mobile application, a platform on which a number of assets, including without limitation virtual financial assets, may be bought, sold, transferred and tracked in accordance with the rules of the platform. As of 31 December 2022, the Company has no customers and no transactions.
The Company is a private company limited by shares and is incorporated in England and Wales. The address of the Company's registered office is Tricor Suite 4th Floor, 50 Mark Lane, London.

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 the going concern basis, which assumes that the Company will continue to operate for the foreseeable future, being a period of at least twelve months from the date of approval of these financial statements, and will be able to meet its debts as they fall due.
As at the reporting date, the Company had net liabilities of £289,039, and a loss of £89,008 for the year. The Company will continue to be supported by other group entities, therefore the directors are confident that the Company will continue to be a going concern for the forseeable future.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentation 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.

Page 2

 
FORIS DAX UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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.

 
2.6

Financial instruments

The Company only enters basic financial instruments and transactions that result in the recognition
of financial assets and liabilities like trade and other debtors and creditors.
(i) Financial assets
Basic financial assets, including the amount due from the related company, are initially recognised at transaction price, 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.
The asset is subsequently carried at amortised cost using the effective interest method.
At the end of each 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 the Statement of Income and Retained Earnings.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
(ii) Financial liabilities
Basic financial liabilities, including accruals and amounts due to related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
(iii) Offsetting
 
Page 3

 
FORIS DAX UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)


2.6
Financial instruments (continued)


Financial assets and liabilities are offset and 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2021 - 4).

Page 4

 
FORIS DAX UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

4.


Debtor

2022
2021
£
£


Amount owed by group undertaking
1
1

1
1



5.


Cash and cash equivalents

2022
2021
£
£

Cash at bank
9
-

9
-



6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Other payables
11,114
-

Amounts owed to group undertakings
219,135
128,919

Amounts owed to related companies
43,245
28,664

Accruals
15,555
42,449

289,049
200,032



7.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



1 (2021 - 1) Ordinary share of £1.00
1
1



8.


Controlling party

The immediate and ultimate parent company is Foris DAX Holdings Limited, a company incorporated in
Hong Kong.
The ultimate controlling party is R De Marco E Melo.

Page 5

 
FORIS DAX UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

9.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2022 was unqualified.

The audit report was signed on 4 October 2023 by Michael Wedge (FCA) (Senior Statutory Auditor) on behalf of BKL Audit LLP.

 
Page 6