Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-312022-06-01falseNo description of principal activity00truetrue OC422289 2022-06-01 2022-12-31 OC422289 2021-06-01 2022-05-31 OC422289 2022-12-31 OC422289 2022-05-31 OC422289 c:CurrentFinancialInstruments 2022-12-31 OC422289 c:CurrentFinancialInstruments 2022-05-31 OC422289 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 OC422289 c:CurrentFinancialInstruments c:WithinOneYear 2022-05-31 OC422289 d:FRS102 2022-06-01 2022-12-31 OC422289 d:Audited 2022-06-01 2022-12-31 OC422289 d:FullAccounts 2022-06-01 2022-12-31 OC422289 d:LimitedLiabilityPartnershipLLP 2022-06-01 2022-12-31 OC422289 d:SmallCompaniesRegimeForAccounts 2022-06-01 2022-12-31 OC422289 6 2022-06-01 2022-12-31 OC422289 d:PartnerLLP1 2022-06-01 2022-12-31 OC422289 d:PartnerLLP2 2022-06-01 2022-12-31 OC422289 c:OtherCapitalInstrumentsClassifiedAsEquity 2022-12-31 OC422289 c:OtherCapitalInstrumentsClassifiedAsEquity 2022-05-31 OC422289 c:FurtherSpecificReserve3ComponentTotalEquity 2022-12-31 OC422289 c:FurtherSpecificReserve3ComponentTotalEquity 2022-05-31 iso4217:GBP xbrli:pure
Company registration number: OC422289







FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 DECEMBER 2022


BLUE TRIDENT CAPITAL LLP






































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BLUE TRIDENT CAPITAL LLP
 



INFORMATION




Designated Members

V Levykin
Digitroom Holding Limited

LLP registered number

OC422289

Registered office

7th Floor50 BroadwayLondonUnited KingdomSW1H 0BL


 


BLUE TRIDENT CAPITAL LLP
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Reconciliation of Members' Interests
3
Notes to the Financial Statements
4 - 7


 


BLUE TRIDENT CAPITAL LLP
REGISTERED NUMBER:OC422289



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2022

31 December 2022
31 May
2022
Note
$
$

Fixed assets
  

Investments
 4 
26,890,000
26,890,000

  
26,890,000
26,890,000

Current assets
  

Debtors: amounts falling due within one year
 5 
57,180
-

Cash at bank and in hand
  
28,199
33,414

  
85,379
33,414

Creditors: Amounts falling due within one year
 6 
(36,742)
(6,476)

Net current assets
  
 
 
48,637
 
 
26,938

Total assets less current liabilities
  
26,938,637
26,916,938

  

Net assets attributable to members
  
26,938,637
26,916,938


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 7 
26,438,637
26,416,938

  
26,438,637
26,416,938

Members' other interests
  

Members' capital classified as equity
  
500,000
500,000

  
26,938,637
26,916,938


Total members' interests
  

Loans and other debts due to members
 7 
26,438,637
26,416,938

Members' other interests
  
500,000
500,000

  
26,938,637
26,916,938


Page 1

 


BLUE TRIDENT CAPITAL LLP
REGISTERED NUMBER:OC422289


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2022

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The entity has opted not to file the statement of comprehensive income in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf by: 




V. Levykin
Designated member

Date: 23 November 2023

The notes on pages 4 to 7 form part of these financial statements.

Page 2

 


BLUE TRIDENT CAPITAL LLP
 



RECONCILIATION OF MEMBERS' INTERESTS
FOR THE PERIOD ENDED 31 DECEMBER 2022






EQUITY
Members' other interests
DEBT
Loans and other debts
due to members less 
any amounts due from members in debtors
Total members' interests
Members' capital (classified as equity)
Total
Other amounts
Total
Total

$
$
$
$
$

Amounts due to members 
37,396,967
37,396,967


Balance at 1 June 2021 
500,000
500,000
37,396,967
37,396,967
37,896,967

Allocation of loss
 
-
-
(10,980,029)
(10,980,029)
(10,980,029)

Members' interests after loss for the year
 
500,000
500,000
26,416,938
26,416,938
26,916,938

Amounts due to members
 


26,416,938
26,416,938


Balance at 31 May 2022
500,000
500,000
26,416,938
26,416,938
26,916,938

Allocation of profit
 
-
-
21,699
21,699
21,699

Members' interests after loss for the period
 
500,000
500,000
26,438,637
26,438,637
26,938,637

Amounts due to members
 


26,438,637
26,438,637


Balance at 31 December 2022 
500,000
500,000
26,438,637
26,438,637
26,938,637

The notes on pages 4 to 7 form part of these financial statements.

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests.

Page 3

 


BLUE TRIDENT CAPITAL LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

1.


General information

The entity is a Limited Liability Partnership registered in England and Wales. The registered office is Suite 1, 3rd Floor, 11-12 St. James Square, London SW1Y 4LB. There is no trading address.
The accounting reference date of the LLP was shortened from 31 May 2023 to 31 December 2022 in accordance with the member's preferences.

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 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The LLP's functional and presentational currency is USD.

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.
The exchange rate at 31 December 2022 - $1: £0.77583 (31 May 2022: $1: £0.79327)

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'.

 
2.3

Division and distribution of profits

A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.

An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.

The LLP divides profits automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense' in.

In the event of the LLP making losses, the loss is recognised as a credit amount of 'Members' remuneration charged as an expense' where it is automatically divided or as a debit within equity under 'Other reserves' if not divided automatically.

Page 4

 


BLUE TRIDENT CAPITAL LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.4

Valuation of investments

Investments in unlisted group companies shares, whose market value can be reliably determined, are remeasured to market value at each reporting 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.

 
2.5

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.

 
2.6

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

Members‘ participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).
Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS 102. 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.
Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.
Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the Statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the Statement of financial position.
Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the Statement of comprehensive income and are equity appropriations in the Statement of financial position.
Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.
All amounts due to members that are classified as liabilities are presented in the Statement of financial position within 'Loans and other debts due to members' and are charged to the Statement of comprehensive income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Statement of financial position within 'Members' other interests'.

Page 5

 


BLUE TRIDENT CAPITAL LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.8

Financial instruments

The LLP 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.


3.


Employees

The entity has 0 employees.


4.


Fixed asset investments








Unlisted investments

$



Valuation 


At 1 June 2022
26,890,000



At 31 December 2022
26,890,000






Net book value



At 31 December 2022
26,890,000



At 31 May 2022
26,890,000

At the period end the LLP held 35,000 preference shares at a nominal value of £35,000,000 in Skyrora Ventures Limited. The shares are not redeemable and have entitlement to dividends. They hold no voting rights, other than for resolutions on winding up or share capital variations, but have priority for repayment over the Ordinary shares on winding up.


5.


Debtors

31 December
31 May
2022
2022
$
$


Trade debtors
56,952
-

Other debtors
228
-

57,180
-


Page 6

 


BLUE TRIDENT CAPITAL LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

6.


Creditors: Amounts falling due within one year

31 December
31 May
2022
2022
$
$

Trade creditors
1,976
-

Accruals
34,766
6,476

36,742
6,476



7.


Loans and other debts due to members


31 December
31 May
2022
2022
$
$



Other amounts due to members in respect of loans
26,438,637
26,416,938

26,438,637
26,416,938


Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up.


8.


Capital commitments

At the period end the LLP was committed to paying a further $5,900,474 (31 May 2022: $6,166,527) towards shares held in Skyrora Ventures Limited which had been issued but not fully paid up.


9.


Auditors' information

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

The audit report was signed on 23 November 2023 by Andrew Hookway FCA (Senior Statutory Auditor) on behalf of Menzies LLP.

 
Page 7