Caseware UK (AP4) 2022.0.179 2022.0.179 02022-01-01falseNo description of principal activity0falsefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12039896 2022-01-01 2022-12-31 12039896 2021-01-01 2021-12-31 12039896 2022-12-31 12039896 2021-12-31 12039896 c:Director1 2022-01-01 2022-12-31 12039896 c:Director2 2022-01-01 2022-12-31 12039896 c:RegisteredOffice 2022-01-01 2022-12-31 12039896 d:CurrentFinancialInstruments 2022-12-31 12039896 d:CurrentFinancialInstruments 2021-12-31 12039896 d:Non-currentFinancialInstruments 2022-12-31 12039896 d:Non-currentFinancialInstruments 2021-12-31 12039896 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 12039896 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 12039896 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 12039896 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 12039896 d:ShareCapital 2022-12-31 12039896 d:ShareCapital 2021-12-31 12039896 d:RetainedEarningsAccumulatedLosses 2022-12-31 12039896 d:RetainedEarningsAccumulatedLosses 2021-12-31 12039896 c:FRS102 2022-01-01 2022-12-31 12039896 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 12039896 c:FullAccounts 2022-01-01 2022-12-31 12039896 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 12039896 6 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure


















Britannia Investment Corp Limited























Unaudited

Directors' report and financial statements



For the year ended 31 December 2022



Registered number: 12039896

 
Britannia Investment Corp Limited


Company Information


Directors
Julio Cesar Herrera 
Jose Francisco Herrera 




Registered number
12039896



Registered office
130 Wood Street

London

EC2V 6DL





 
Britannia Investment Corp Limited


Contents



Page
Directors' report
1
Statement of comprehensive income
2
Statement of financial position
3
Notes to the financial statements
4 - 6


 
Britannia Investment Corp Limited

 
Directors' report
For the year ended 31 December 2022

The directors present their report and the financial statements of Britannia Investment Corp Limited ('the company') for the year ended 31 December 2022.

Directors

The directors who served during the year were:

Julio Cesar Herrera 
Jose Francisco Herrera 
Julio Martin Herrera (resigned on 26 August 2022)
Sofia Saracho De Oyarzabal
Sofia Saracho De Oyarzabal resigned as a director on 30 August 2023.
 
Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board on 11 October 2023 and signed on its behalf by:
 





Julio Cesar Herrera
Director

Page 1

 
Britannia Investment Corp Limited


Statement of comprehensive income
For the year ended 31 December 2022

2022
2021
Note
£
£

  

Administrative expenses
  
(148,321)
(168,802)

Operating loss
  
(148,321)
(168,802)

Interest payable and similar expenses
  
-
(1,850)

Loss before tax
  
(148,321)
(170,652)

Loss for the financial year
  
(148,321)
(170,652)

Other comprehensive income for the year
  

  

Total comprehensive income for the year
  
(148,321)
(170,652)

There were no recognised gains and losses for 2022 or 2021 other than those included in the statement of comprehensive income.

The notes on pages 4 to 6 form part of these financial statements.

Page 2

 
Britannia Investment Corp Limited - Registered number: 12039896

Statement of financial position
As at 31 December 2022

2022
2021
Note
£
£

Fixed assets
  

Investments
 3 
3,420,534
2,822,930

  
3,420,534
2,822,930

Current assets
  

Debtors: due within one year
 4 
526,939
26,939

Current asset investments
 5 
-
500,000

Cash at bank and in hand
  
1,679
11,594

  
528,618
538,533

Creditors: due within one year
 6 
(3,000)
(16,361)

Net current assets
  
 
 
525,618
 
 
522,172

Total assets less current liabilities
  
3,946,152
3,345,102

Creditors: due after more than one year
 7 
(151,767)
-

  

Net assets
  
3,794,385
3,345,102


Capital and reserves
  

Called up share capital 
  
4,113,358
3,515,754

Profit and loss account
  
(318,973)
(170,652)

  
3,794,385
3,345,102


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 were approved and authorised for issue by the board and were signed on its behalf on 11 October 2023 by:


Julio Cesar Herrera
Director

The notes on pages 4 to 6 form part of these financial statements.

Page 3

 
Britannia Investment Corp Limited

 
Notes to the financial statements
For the year ended 31 December 2022

1.


General information

Britannia Investment Corp Limited is a private company limited by shares. The comapny is registered in England and Wales with the registration number 12039896. The registerd offices is C/O Buzzacott LLP, 130 Wood Street, London, United Kingdom, EC2V 6DL and the principle place of busines of the company is Level 28, 52 Lime Street, London, EC3M 7AF.

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 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

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.

 
2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.4

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.

 
2.5

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

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.

 
2.7

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.

Page 4

 
Britannia Investment Corp Limited

Notes to the financial statements
For the year ended 31 December 2022

2.Accounting policies (continued)


2.7
Financial instruments (continued)

Investments in non-derivative instruments that are equity to the issuer are measured:
at fair value with changes recognised in the Statement of comprehensive income if the shares are publicly traded or their fair value can otherwise be measured reliably;
at cost less impairment for all other investments.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the reporting date.


3.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2022
2,822,930


Additions
597,604



At 31 December 2022
3,420,534





4.


Debtors

2022
2021
£
£


Other debtors
526,939
26,939

526,939
26,939


Page 5

 
Britannia Investment Corp Limited

 
Notes to the financial statements
For the year ended 31 December 2022

5.


Current asset investments

2022
2021
£
£

Shares in group undertakings
-
500,000

-
500,000



6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Other creditors
-
16,361

Accruals and deferred income
3,000
-

3,000
16,361



7.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Other creditors
151,767
-

151,767
-


Page 6