Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31true2021-09-01falseNo description of principal activity33falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12177019 2021-09-01 2022-12-31 12177019 2020-09-01 2021-08-31 12177019 2022-12-31 12177019 2021-08-31 12177019 c:Director1 2021-09-01 2022-12-31 12177019 d:ComputerEquipment 2021-09-01 2022-12-31 12177019 d:ComputerEquipment 2022-12-31 12177019 d:ComputerEquipment 2021-08-31 12177019 d:ComputerEquipment d:OwnedOrFreeholdAssets 2021-09-01 2022-12-31 12177019 d:CurrentFinancialInstruments 2022-12-31 12177019 d:CurrentFinancialInstruments 2021-08-31 12177019 d:Non-currentFinancialInstruments 2022-12-31 12177019 d:Non-currentFinancialInstruments 2021-08-31 12177019 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 12177019 d:CurrentFinancialInstruments d:WithinOneYear 2021-08-31 12177019 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 12177019 d:Non-currentFinancialInstruments d:AfterOneYear 2021-08-31 12177019 d:ShareCapital 2022-12-31 12177019 d:ShareCapital 2021-08-31 12177019 d:SharePremium 2022-12-31 12177019 d:SharePremium 2021-08-31 12177019 d:RetainedEarningsAccumulatedLosses 2022-12-31 12177019 d:RetainedEarningsAccumulatedLosses 2021-08-31 12177019 c:OrdinaryShareClass1 2021-09-01 2022-12-31 12177019 c:OrdinaryShareClass1 2022-12-31 12177019 c:OrdinaryShareClass1 2021-08-31 12177019 c:OrdinaryShareClass2 2021-09-01 2022-12-31 12177019 c:OrdinaryShareClass2 2022-12-31 12177019 c:OrdinaryShareClass3 2021-09-01 2022-12-31 12177019 c:OrdinaryShareClass3 2022-12-31 12177019 c:FRS102 2021-09-01 2022-12-31 12177019 c:AuditExempt-NoAccountantsReport 2021-09-01 2022-12-31 12177019 c:FullAccounts 2021-09-01 2022-12-31 12177019 c:PrivateLimitedCompanyLtd 2021-09-01 2022-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 12177019









CUMBRIA CAPITAL LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2022

 
CUMBRIA CAPITAL LIMITED
REGISTERED NUMBER: 12177019

BALANCE SHEET
AS AT 31 DECEMBER 2022

31 December
31 August
2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
6,411
-

  
6,411
-

Current assets
  

Debtors: amounts falling due within one year
 5 
162,983
79,577

Cash at bank and in hand
 6 
907,388
59,587

  
1,070,371
139,164

Creditors: amounts falling due within one year
 7 
(148,104)
(332,443)

Net current assets/(liabilities)
  
 
 
922,267
 
 
(193,279)

Total assets less current liabilities
  
928,678
(193,279)

Creditors: amounts falling due after more than one year
 8 
(37,963)
(50,000)

  

Net assets/(liabilities)
  
890,715
(243,279)


Capital and reserves
  

Called up share capital 
 9 
8
1

Share premium account
  
1,869,492
-

Profit and loss account
  
(978,785)
(243,280)

  
890,715
(243,279)


Page 1

 
CUMBRIA CAPITAL LIMITED
REGISTERED NUMBER: 12177019
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022

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: 




M D Spence
Director

Date: 14 February 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
CUMBRIA CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

1.


General information

Cumbria Capital Limited is a private company limited by shares and incorporated in England & Wales (registered number 12177019). The registered office is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH. The functional and presentational currency is pounds sterling.

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 financial statements have been prepared on the going concern basis. The company is reliant on the directors and shareholders for financial support. The directors are confident this support will continue for a period of at least another 12 months following the approval of these financial statements.

 
2.3

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'.

Page 3

 
CUMBRIA CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.4

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.

 
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

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.7

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.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 4

 
CUMBRIA CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.9

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:

Computer equipment
-
25%
straight line

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.

 
2.10

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.

 
2.11

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.

 
2.12

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 5

 
CUMBRIA CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

3.


Employees

The average monthly number of employees, including directors, during the period was 3 (2021 - 3).


4.


Tangible fixed assets







Computer equipment

£



Cost or valuation


Additions
6,601



At 31 December 2022

6,601



Depreciation


Charge for the period on owned assets
190



At 31 December 2022

190



Net book value



At 31 December 2022
6,411



At 31 August 2021
-


5.


Debtors

31 December
31 August
2022
2021
£
£


Trade debtors
80,400
30,493

Other debtors
26,067
24,846

Prepayments and accrued income
56,516
-

Tax recoverable
-
24,238

162,983
79,577


Page 6

 
CUMBRIA CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

6.


Cash and cash equivalents

31 December
31 August
2022
2021
£
£

Cash at bank and in hand
907,388
59,587

907,388
59,587



7.


Creditors: Amounts falling due within one year

31 December
31 August
2022
2021
£
£

Trade creditors
72,791
118,514

Corporation tax
24,238
-

Other taxation and social security
38,640
32,584

Other creditors
4,885
174,595

Accruals and deferred income
7,550
6,750

148,104
332,443



8.


Creditors: Amounts falling due after more than one year

31 December
31 August
2022
2021
£
£

Bank loans
37,963
50,000

37,963
50,000


Page 7

 
CUMBRIA CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

9.


Share capital

31 December
31 August
2022
2021
£
£
Allotted, called up and fully paid



1,300,000 (2021 - 1,000,000) A Ordinary shares shares of £0.000001 each
1.30
1.00
6,197,065 (2021 - 0 ) B Ordinary shares shares of £0.000001 each
6.20
-
10,000 (2021 - 0 ) A Preferred shares shares of £0.000001 each
0.01
-

7.51

1.00





10.


Related party transactions

Included within other creditors is an amount of £4,884 (2021: £11,023) due to a director. 

Page 8