Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-3122truefalse2022-02-01falseNo description of principal activityThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13116404 2022-02-01 2023-01-31 13116404 2021-01-06 2022-01-31 13116404 2023-01-31 13116404 2022-01-31 13116404 c:Director1 2022-02-01 2023-01-31 13116404 c:Director2 2022-02-01 2023-01-31 13116404 d:CurrentFinancialInstruments 2023-01-31 13116404 d:CurrentFinancialInstruments 2022-01-31 13116404 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 13116404 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 13116404 d:ShareCapital 2023-01-31 13116404 d:ShareCapital 2022-01-31 13116404 d:OtherMiscellaneousReserve 2023-01-31 13116404 d:OtherMiscellaneousReserve 2022-01-31 13116404 d:RetainedEarningsAccumulatedLosses 2023-01-31 13116404 d:RetainedEarningsAccumulatedLosses 2022-01-31 13116404 c:FRS102 2022-02-01 2023-01-31 13116404 c:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 13116404 c:FullAccounts 2022-02-01 2023-01-31 13116404 c:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 13116404 6 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure
Registered number: 13116404



 
 
 
 
ISLA CAPITAL LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 JANUARY 2023

 
ISLA CAPITAL LIMITED
REGISTERED NUMBER:13116404

BALANCE SHEET
AS AT 31 JANUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
116,054
148,862

  
116,054
148,862

Current assets
  

Cash at bank and in hand
  
496
11,756

  
496
11,756

Creditors: amounts falling due within one year
 5 
(208,968)
(182,002)

Net current liabilities
  
 
 
(208,472)
 
 
(170,246)

Total assets less current liabilities
  
(92,418)
(21,384)


Capital and reserves
  

Allotted, called up and fully paid share capital
  
200
200

Profit and loss account
  
(75,577)
(21,584)

Fair value reserve
  
(17,041)
-

  
(92,418)
(21,384)


Page 1

 
ISLA CAPITAL LIMITED
REGISTERED NUMBER:13116404
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 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 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 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 on 30 October 2023.





R Akram
W Beverley
Director
Director

Page 2

 
ISLA CAPITAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.


General information

Isla Capital Limited is incorporated and domiciled in England and Wales.  The registered office is 128 City Road, London, EC1V 2NX. 

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 company made a loss after taxation of £71,031 (2022: £21,584) for the year ended 31 January 2023 resulting in a balance sheet deficit of £92,418 (2022: £21,384) at the year end date. This is the second period of trade for the company and it has incurred mostly set up costs by 31 January 2023.  The directors are satisfied that the company will be profitable in the short to medium term.  
In addition, the directors intend to continue financial support provided to the company (£204,767 as at 31 January 2023) such that the company is able to meet its ongoing liabilities as and when they fall due.
In the light of this and after taking into account all information that could reasonably be expected to be available, the directors are satisfied that the company will continue in operational existence for the foreseeable future, and that the going concern basis is appropriate for the preparation of the company's financial statements.

 
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.

Page 3

 
ISLA CAPITAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.4

Valuation of investments

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 Comprehensive Income 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.

 
2.5

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 Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.6

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 and loans with related parties.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 4

 
ISLA CAPITAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

4.


Fixed asset investments





Listed investments

£



Cost or valuation


At 1 February 2022
148,862


Disposals
(29,216)


Foreign exchange movement
13,449


Revaluations
(17,041)



At 31 January 2023
116,054





5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
1,980
-

Other creditors
204,768
180,202

Accruals and deferred income
2,220
1,800

208,968
182,002


 
Page 5