Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.32021-12-22falseNo description of principal activityfalsetrue 13814652 2021-12-21 13814652 2021-12-22 2023-03-31 13814652 2021-04-01 2021-12-21 13814652 2023-03-31 13814652 c:Director2 2021-12-22 2023-03-31 13814652 d:CurrentFinancialInstruments 2023-03-31 13814652 d:Non-currentFinancialInstruments 2023-03-31 13814652 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 13814652 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 13814652 d:ShareCapital 2023-03-31 13814652 d:RetainedEarningsAccumulatedLosses 2023-03-31 13814652 c:OrdinaryShareClass1 2021-12-22 2023-03-31 13814652 c:OrdinaryShareClass1 2023-03-31 13814652 c:FRS102 2021-12-22 2023-03-31 13814652 c:AuditExempt-NoAccountantsReport 2021-12-22 2023-03-31 13814652 c:FullAccounts 2021-12-22 2023-03-31 13814652 c:PrivateLimitedCompanyLtd 2021-12-22 2023-03-31 13814652 2 2021-12-22 2023-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 13814652









RETAIL CAPITAL (UK) LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2023

 
RETAIL CAPITAL (UK) LTD
REGISTERED NUMBER: 13814652

BALANCE SHEET
AS AT 31 MARCH 2023

2023
Note
£

  

Current assets
  

Debtors: amounts falling due after more than one year
 4 
25,213

Debtors: amounts falling due within one year
 4 
164,568

Cash at bank and in hand
 5 
156,837

  
346,618

Creditors: amounts falling due within one year
 6 
(233,318)

Net current assets
  
 
 
113,300

Total assets less current liabilities
  
113,300

Creditors: amounts falling due after more than one year
 7 
(619,387)

  

Net (liabilities)/assets
  
(506,087)


Capital and reserves
  

Called up share capital 
 8 
100

Profit and loss account
  
(506,187)

  
(506,087)


Page 1

 
RETAIL CAPITAL (UK) LTD
REGISTERED NUMBER: 13814652
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

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 period 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 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: 




Steven Kark
Director

Date: 27 October 2023

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

Page 2

 
RETAIL CAPITAL (UK) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

1.


General information

Retail Capital (UK) LTD is a private company limited by shares, registered in England and Wales (registered number: 13814652). The registered office address is 101 New Cavendish Street, 1st Floor South, London, United Kingdom, W1W 6XH.

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

In assessing the ability of the company to operate as a going concern, management have evaluated current and forecasted operational results, and the solvency of the company. The directors have obtained assurances from the shareholders to continue to provide adequate funds to meet its obligations, and not to demand repayment of any funds due to them, until the company is in a financial position to do so. As a result, the directors consider it appropriate to prepare the financial statements on a going concern basis.

 
2.3

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. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Service fee income is recognised in profit or loss using the effective interest method.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
RETAIL CAPITAL (UK) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

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

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.

 
2.7

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.

 
2.8

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 average monthly number of employees, including directors, during the period was 3.

Page 4

 
RETAIL CAPITAL (UK) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

4.


Debtors

2023
£

Due after more than one year

Prepayments and accrued income
25,213

25,213


2023
£

Due within one year

Trade debtors
130,420

Amounts owed by group undertakings
363

Prepayments and accrued income
33,785

164,568



5.


Cash and cash equivalents

2023
£

Cash at bank and in hand
156,837

156,837



6.


Creditors: Amounts falling due within one year

2023
£

Trade creditors
130,275

Other creditors
40,000

Accruals and deferred income
63,043

233,318


During the year, the Company entered into a £4m facility agreement with a lender. As at the year end date the facility of £4m was undrawn. The facility is secured by way of a fixed and floating charge over the assets of the Company. The loan is due to mature in June 2026. 

Page 5

 
RETAIL CAPITAL (UK) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

7.


Creditors: Amounts falling due after more than one year

2023
£

Amounts owed to group undertakings
619,387

619,387


Amounts owed to group undertakings are subordinated in favour of the lender that holds a charge over the assets of the company.


8.


Share capital

2023
£
Allotted, called up and fully paid


100 Ordinary shares of £1.00 each
100





9.


Immediate parent undertaking

The immediate parent undertaking is Retail Capital Europe (CY) Limited, a company registered in Cyprus. 

 
Page 6