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Klarus Capital Limited

Registered number: 10785309
Annual Report
For the year ended 31 December 2022

 
KLARUS CAPITAL LIMITED
 
 
COMPANY INFORMATION


Director
A Štura




Registered number
10785309



Registered office
30 Old Bailey

London

United Kingdom

EC4M 7AU




Independent auditor
Mazars
Chartered Accountants & Statutory Audit Firm

Mayoralty House

Flood Street

Galway

Ireland

H91 P8PR 





 
KLARUS CAPITAL LIMITED
 

CONTENTS



Page
Director's Report
 
1 - 2
Independent Auditor's Report
 
3 - 6
Statement of Comprehensive Income
 
7
Statement of Financial Position
 
8
Statement of Changes in Equity
 
9
Notes to the Financial Statements
 
10 - 16


 
KLARUS CAPITAL LIMITED
 
 
 
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022

The director presents his report and the audited financial statements for the year ended 31 December 2022.

Principal activity

The principal activity of the Company is the dealing of securities.

Directors

The directors who served during the year and to the date of this report were: 

A Onacko (resigned 4 March 2022)
A Soraka (appointed 5 March 2022, resigned 22 February 2023)
A Štura (appointed 22 February 2023)
 
Director's responsibilities statement

The director is responsible for preparing the Director's Report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

In preparing these financial statements, the director is required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgements and accounting estimates that are reasonable and prudent; and

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable him to ensure that the financial statements comply with the Companies Act 2006He is also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Cessation of operations

The operations of the Company have been ceased in 2023 and the director considers making a decision to close the Company in 2024. In light of this the director does not consider the going concern basis to be appropriate and these financial statements have therefore been prepared on a basis other than going concern.

Qualifying third party indemnity provisions

The liability of the sole director of Klarus Capital Limited is insured by the management liability insurance policy issued by ANV Specialty Europe S.L. to Klarus Group Holdings OU, a Company having indirect ownership of Klarus Capital Limited shares. The management liability insurance policy is valid until 15 June 2024. 

- 1 -

 
KLARUS CAPITAL LIMITED
 
 
 
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022

Provision of information to auditor

The director at the time when this Director's Report is approved has confirmed that:
 
so far as he is aware, there is no relevant audit information of which the Company's auditor is unaware, and

he has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information.

Post balance sheet events

On 3 August 2023, the sole director of Klarus Capital Limited (Company) adopted the resolution to reduce the issued share capital of the Company from £41,100,001 to £20,000 by cancelling and extinguishing of 41,080,001 of the issued ordinary shares of £1 each in the Company, and to immediately transfer the amount thereof to distributable reserves.
The director made the decision in 2023 to cease operations of the Company.
After the year end and following the transfer to distributable reserves, a dividend of £5,800,000 was declared and paid to the shareholder.
There have be no other significant events since the end of the financial year.

Auditor

During the year, Mazars LLP, resigned as auditors and Mazars were appointed as auditor.

Small companies note

In preparing this report, the director has taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf by: 
 




A Štura
Director

Date: 4 March 2024

- 2 -

 
KLARUS CAPITAL LIMITED
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF KLARUS CAPITAL LIMITED
 

Opinion

We have audited the financial statements of Klarus Capital Limited (the ‘Company’) for the year ended 31 December 2022 which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity and notes to the financial statements, including a summary of significant accounting policies. 
The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

give a true and fair view of the state of the Company’s affairs as at 31 December 2022 and of its loss for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Emphasis of matter - basis of preparation

We draw attention to note 2.2 of the financial statements, which explains that the director intends to liquidate the Company and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly, the financial statements have been prepared on a basis other than going concern as described in note 2.2.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The director is responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
- 3 -

 
KLARUS CAPITAL LIMITED
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF KLARUS CAPITAL LIMITED
 

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:
 
the information given in the Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Director's Report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Director's Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of director's remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the director was not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemption in preparing the Director's Report and from the requirement to prepare a Strategic Report.
- 4 -

 
KLARUS CAPITAL LIMITED
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF KLARUS CAPITAL LIMITED
 

Responsibilities of Director

As explained more fully in the Director's responsibilities statement set out on page 1, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director intends either to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
 
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
 
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. 

Based on our understanding of the Company and its industry, we considered that non-compliance with the following laws and regulations might have a material effect on the financial statements: employment regulation, health and safety regulation and anti-money laundering regulation. 

To help us identify instances of non-compliance with these laws and regulations, and in identifying and assessing the risks of material misstatement in respect to non-compliance, our procedures included, but were not limited to:
Inquiring of management and, where appropriate, those charged with governance, as to whether the Company is in compliance with laws and regulations, and discussing their policies and procedures regarding compliance with laws and regulations;
Inspecting correspondence, if any, with relevant licensing or regulatory authorities;
Communicating identified laws and regulations to the engagement team and remaining alert to any indications of non-compliance throughout our audit; and
Considering the risk of acts by the Company which were contrary to applicable laws and regulations, including fraud.  

We also considered those laws and regulations that have a direct effect on the preparation of the financial statements, such as tax legislation, pension legislation and the Companies Act 2006. 
- 5 -

 
KLARUS CAPITAL LIMITED
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF KLARUS CAPITAL LIMITED
 

In addition, we evaluated the director's and management’s incentives and opportunities for fraudulent manipulation of the financial statements, including the risk of override of controls, and determined that the principal risks were related to posting manual journal entries to manipulate financial performance, management bias through judgements and assumptions in significant accounting estimates.

Our audit procedures in relation to fraud included but were not limited to:
Making enquiries of the director and management on whether they had knowledge of any actual, suspected or alleged fraud;
Gaining an understanding of the internal controls established to mitigate risks related to fraud;
Discussing amongst the engagement team the risks of fraud; and
Addressing the risks of fraud through management override of controls by performing journal entry testing.

There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and detection of irregularities including fraud rests with management. As with any audit, there remained a risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal controls.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of the audit report

This report is made solely to the Company's members as a body in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members as a body for our audit work, for this report, or for the opinions we have formed.
 

Maurice Hickey (Senior statutory auditor)
For and behalf of Mazars
Chartered Accountants and Statutory Audit Firm 
Mayoralty House
Flood Street
Galway
Ireland
H91 P8PR
4 March 2024
- 6 -

 
KLARUS CAPITAL LIMITED
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2022

2022
2021
Note
£
£

  

Administrative expenses
  
(88,103)
(103,187)

Operating loss
  
(88,103)
(103,187)

Fair value movement on listed investments
 4 
(2,338,563)
(944,199)

Interest receivable and similar income
  
683
-

Loss before tax
  
(2,425,983)
(1,047,386)

Tax on loss
  
-
-

Loss for the financial year
  
(2,425,983)
(1,047,386)

Other comprehensive income
  
-
-

Total comprehensive loss for the year
  
(2,425,983)
(1,047,386)

The Statement of Comprehensive Income has been prepared on the basis that all operations are discontinued.

The notes on pages 10 to 16 form part of these financial statements.

- 7 -

 
KLARUS CAPITAL LIMITED
REGISTERED NUMBER: 10785309

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Investments
 4 
-
7,196,096

  
-
7,196,096

Current assets
  

Investments
 4 
4,132,214
-

Debtors: amounts falling due within one year
 5 
-
973

Cash at bank and in hand
  
426,272
12,692,135

  
4,558,486
12,693,108

Creditors: amounts falling due within one year
 6 
(17,188)
(21,923)

Net current assets
  
4,541,298
12,671,185

Total assets less current liabilities
  
4,541,298
19,867,281

  

Net assets
  
4,541,298
19,867,281


Capital and reserves
  

Called up share capital 
 7 
41,100,001
54,000,001

Profit and loss account
  
(36,558,703)
(34,132,720)

Total equity
  
4,541,298
19,867,281


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 were approved and authorised for issue by the board and were signed on its behalf by: 



A Štura
Director

Date: 4 March 2024

The notes on pages 10 to 16 form part of these financial statements.

- 8 -

 
KLARUS CAPITAL LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2022


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 January 2021
54,000,001
(33,085,334)
20,914,667


Comprehensive loss for the year

Loss for the year
-
(1,047,386)
(1,047,386)


Other comprehensive income for the year
-
-
-


Total comprehensive loss for the year
-
(1,047,386)
(1,047,386)


Total transactions with owners
-
-
-



At 1 January 2022
54,000,001
(34,132,720)
19,867,281


Comprehensive loss for the year

Loss for the year
-
(2,425,983)
(2,425,983)


Other comprehensive income for the year
-
-
-


Total comprehensive loss for the year
-
(2,425,983)
(2,425,983)

Shares cancelled during the year (Note 7)
(12,900,000)
-
(12,900,000)


Total transactions with owners
(12,900,000)
-
(12,900,000)


At 31 December 2022
41,100,001
(36,558,703)
4,541,298


The notes on pages 10 to 16 form part of these financial statements.

- 9 -

 
KLARUS CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

Klarus Capital Limited is a private company limited by shares and incorporated in England and Wales. The registered number of the Company is 10785309. The address of its registered office is 30 Old Bailey, London, United Kingdom, EC4M 7AU.
 
The principal activity of the Company is the dealing of securities.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The financial statements have been prepared on a basis other than going concern. The historical cost of convention approximates the recoverable value of assets and settlement value of liabilities.

The financial statements have been presented in Pound Sterling ("£") as this is the currency of the primary economic environment in which the company operates and is rounded to the nearest pound.

The following principal accounting policies have been applied:

 
2.2

Cessation of operations

The operations of the Company have been ceased in 2023 and the director considers making a decision to close the Company in 2024. In light of this the director does not consider the going concern basis to be appropriate and these financial statements have therefore been prepared on a basis other than going concern.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentation currency is Pound Sterling. 

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.

All other foreign exchange gains and losses are presented in the Statement of Comprehensive Income.

- 10 -

 
KLARUS CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.4

Valuation of investments

Investments in listed company shares are remeasured to market value at each statement of financial position date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the year.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.6

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.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

- 11 -

 
KLARUS CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)


2.8
Financial instruments (continued)

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

- 12 -

 
KLARUS CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.9

Interest income and other receivables

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

 
2.10

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 reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees

The Company does not have any employee other than the director who did not receive any remuneration during the year (2021: 1).

- 13 -

 
KLARUS CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

4.


Investments





Listed investments

£



Cost or valuation


At 1 January 2022
7,196,096


Disposals
(725,320)


Deficit on revaluation
(2,338,562)



At 31 December 2022

4,132,214






Net book value



At 31 December 2022
4,132,214



At 31 December 2021
7,196,096

During the year, the net book value of the listed investments have been reclassified to current assets from fixed assets in light of the decision to cease trading in 2023.

- 14 -

 
KLARUS CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

5.


Debtors: Amounts falling due within one year

2022
2021
£
£


Prepayments
-
973



6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
-
5,594

Accruals
17,188
16,329

17,188
21,923



7.


Called up share capital

2022
2021
£
£
Allotted, called up and fully paid



41,100,001 (2021: 54,000,001) ordinary shares of £1 each
41,100,001
54,000,001


Each ordinary share has attached to it full voting, dividend and capital distribution rights.
On 27 April 2022, the director made the decision to reduce the issued share capital of the Company by cancelling and extinguishing 12,900,000 of the issued ordinary shares of £1 each in the Company. The funds were distributed to the shareholder. 



8.


Comparative information

Some of the prior year balances have been reclassed on a basis consistent with the current year. 


9.


Related party transactions

During the year, the Company was charged consultancy fees amounting to £36,481 (2021: £38,123) by a fellow subsidiary company. At the year end, included in amount owed to the related party was £nil (2021: £nil).

- 15 -

 
KLARUS CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

10.


Post balance sheet events

On 3 August 2023, the sole director of Klarus Capital Limited (Company) adopted the resolution to reduce the issued share capital of the Company from £41,100,001 to £20,000 by cancelling and extinguishing of 41,080,001 of the issued ordinary shares of £1 each in the Company, and to immediately transfer the amount thereof to distributable reserves.
The director made the decision in 2023 to cease operations of the Company.
After the year end and following the transfer to distributable reserves, a dividend of £5,800,000 was declared and paid to the shareholder.
There have be no other significant events since the end of the financial year.


11.


Controlling party

The immediate parent company is Klarus Finance OÜ, a company incorporated in Estonia.
The ultimate parent company is Atilus SAS, a company incorporated in Luxembourg.

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