Caseware UK (AP4) 2022.0.179 2022.0.179 33falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalse2022-08-01No description of principal activity 12076529 2022-08-01 2023-07-31 12076529 2023-07-31 12076529 2021-08-01 2022-07-31 12076529 2022-07-31 12076529 c:Director2 2022-08-01 2023-07-31 12076529 d:CurrentFinancialInstruments 2023-07-31 12076529 d:CurrentFinancialInstruments 2022-07-31 12076529 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 12076529 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 12076529 d:ShareCapital 2023-07-31 12076529 d:ShareCapital 2022-07-31 12076529 d:RetainedEarningsAccumulatedLosses 2023-07-31 12076529 d:RetainedEarningsAccumulatedLosses 2022-07-31 12076529 c:FRS102 2022-08-01 2023-07-31 12076529 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 12076529 c:FullAccounts 2022-08-01 2023-07-31 12076529 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 12076529 6 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure
Registered number: 12076529













Wraith Holdings International Limited

Financial statements
Information for filing with the registrar

31 July 2023




 
Wraith Holdings International Limited


Balance sheet
At 31 July 2023

2023
As restated 2022
Note
£
£

Fixed assets
  

Investments
 4 
4,040,052
4,040,052

  
4,040,052
4,040,052

Current assets
  

Debtors: amounts falling due within one year
 5 
1,667,969
1,916,500

Bank and cash balances
  
900,635
1,095,965

  
2,568,604
3,012,465

Creditors: amounts falling due within one year
 6 
(3,070,907)
(3,843,335)

Net current liabilities
  
 
 
(502,303)
 
 
(830,870)

Total assets less current liabilities
  
3,537,749
3,209,182

  

Net assets
  
3,537,749
3,209,182


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
3,537,649
3,209,082

Shareholders' funds
  
3,537,749
3,209,182


1

 
Wraith Holdings International Limited

    
Balance sheet (continued)
At 31 July 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 10 April 2024.




A Singh Grewal
Director

Company registered number: 12076529
The notes on pages 3 to 6 form part of these financial statements. 

2

 
Wraith Holdings International Limited
 
 

Notes to the financial statements
Year ended 31 July 2023

1.


General information

Wraith Holdings International Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 12076529 and the registered office address is Units 1-10, 116-118 Bury New Road, Manchester, M8 8EB.

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.

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

Income due from membership interest in Bench IP Holding LLC

Bench IP Holdings LLC is a Delaware Limited Liability Company. The profits of a Delaware Limited Liability Company become due to members as they arise. the company is the sole member of Bench IP Holdings LLC and is entitled to its profits as they arise.

3

 
Wraith Holdings International Limited
 

 
Notes to the financial statements
Year ended 31 July 2023

2.Accounting policies (continued)

 
2.4

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.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less 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

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.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of comprehensive income.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

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

4

 
Wraith Holdings International Limited
 
 

Notes to the financial statements
Year ended 31 July 2023

4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 August 2022 (as restated)
4,040,052



At 31 July 2023
4,040,052





5.


Debtors

2023
As restated 2022
£
£


Other debtors
1,667,969
1,896,051

Prepayments and accrued income
-
20,449

1,667,969
1,916,500



6.


Creditors: amounts falling due within one year

2023
As restated 2022
£
£

Corporation tax
1,591
753,814

Other taxation and social security
90,816
85,896

Other creditors
2,975,000
3,000,000

Accruals and deferred income
3,500
3,625

3,070,907
3,843,335


5

 
Wraith Holdings International Limited
 
 

Notes to the financial statements
Year ended 31 July 2023

7.


Prior year adjustment

Following a review it is considered that the accounting treatment of the company's interest in Bench IP Holdings LLC was incorrect.
These accounts show the cost of the company's interest in Bench IP Holdings LLC being treated as an investment and the royalty income and expenses relating to the intellectual property of Bench IP Holdings LLC being reflected in that entities accounts rather than these accounts.  
The impact of the prior year adjustment has resulted in an increase in reserves by £984,690 and an increase in investment per the balance sheet of £984,690.

 
6