Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31true2022-04-01false.33trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08476517 2022-04-01 2023-03-31 08476517 2021-04-01 2022-03-31 08476517 2023-03-31 08476517 2022-03-31 08476517 c:Director1 2022-04-01 2023-03-31 08476517 d:OfficeEquipment 2022-04-01 2023-03-31 08476517 d:OfficeEquipment 2023-03-31 08476517 d:OfficeEquipment 2022-03-31 08476517 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08476517 d:CurrentFinancialInstruments 2023-03-31 08476517 d:CurrentFinancialInstruments 2022-03-31 08476517 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 08476517 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 08476517 d:ShareCapital 2023-03-31 08476517 d:ShareCapital 2022-03-31 08476517 d:RetainedEarningsAccumulatedLosses 2023-03-31 08476517 d:RetainedEarningsAccumulatedLosses 2022-03-31 08476517 c:OrdinaryShareClass1 2022-04-01 2023-03-31 08476517 c:OrdinaryShareClass1 2023-03-31 08476517 c:OrdinaryShareClass1 2022-03-31 08476517 c:FRS102 2022-04-01 2023-03-31 08476517 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 08476517 c:FullAccounts 2022-04-01 2023-03-31 08476517 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08476517









STRANGE GOINGS ON LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
STRANGE GOINGS ON LTD
REGISTERED NUMBER: 08476517

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,305
436

  
2,305
436

Current assets
  

Debtors: amounts falling due within one year
 5 
196,102
252,775

Cash at bank and in hand
 6 
7,470
15,031

  
203,572
267,806

Creditors: amounts falling due within one year
 7 
(989,225)
(1,254,151)

Net current liabilities
  
 
 
(785,653)
 
 
(986,345)

Total assets less current liabilities
  
(783,348)
(985,909)

  

Net liabilities
  
(783,348)
(985,909)


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
(783,448)
(986,009)

  
(783,348)
(985,909)


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 18 October 2023.



Page 1

 
STRANGE GOINGS ON LTD
REGISTERED NUMBER: 08476517
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023


D J Smith Esq
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
STRANGE GOINGS ON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

The company is incorporated in England and Wales. The address of the registered office is given in the company information page of these financial statements. The principal activity of the company is that of derivative trading of oil in the US and European markets.

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

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.

  
2.3

Turnover

Turnover comprises revenue recognised by the company in respect of derivatives traded over the period. Turnover is recognised gross of all fees and commissions and relates entirely to derivative instruments. These derivative instruments are recognised in accordance with the historic cost convention, and not at fair values, through the profit and loss account.

Page 3

 
STRANGE GOINGS ON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
33.3% straight line basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
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.

Page 4

 
STRANGE GOINGS ON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.9

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.
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange derivatives.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).


4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 April 2022
4,440


Additions
2,305



At 31 March 2023

6,745



Depreciation


At 1 April 2022
4,004


Charge for the year on owned assets
436



At 31 March 2023

4,440



Net book value



At 31 March 2023
2,305



At 31 March 2022
436

Page 5

 
STRANGE GOINGS ON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Debtors

2023
2022
£
£


Other debtors
195,876
252,775

Prepayments and accrued income
226
-

196,102
252,775


Included in other debtors are financial instuments. These have been recorded at cost of £195,876 (20221: £252,775). The fair value as at 31 March 2023 was £195,876 (2022: £252,775).


6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
7,470
15,031

7,470
15,031



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other taxation and social security
42
-

Other creditors
982,583
1,250,851

Accruals
6,600
3,300

989,225
1,254,151



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100


Page 6

 
STRANGE GOINGS ON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension charge represents contributions payable by the company to the fund and amounted to £1,784 (2022: £794). 

 
Page 7