Caseware UK (AP4) 2022.0.179 2022.0.179 2023-04-302023-04-30truetrueCredit granting by non-deposit taking finance housestruetrue2022-02-25false10The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14002297 2022-02-24 14002297 2022-02-25 2023-04-30 14002297 2021-05-01 2022-02-24 14002297 2023-04-30 14002297 c:Director1 2022-02-25 2023-04-30 14002297 d:CurrentFinancialInstruments 2023-04-30 14002297 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 14002297 d:ShareCapital 2023-04-30 14002297 c:OrdinaryShareClass1 2022-02-25 2023-04-30 14002297 c:OrdinaryShareClass1 2023-04-30 14002297 c:FRS102 2022-02-25 2023-04-30 14002297 c:AuditExempt-NoAccountantsReport 2022-02-25 2023-04-30 14002297 c:FullAccounts 2022-02-25 2023-04-30 14002297 c:PrivateLimitedCompanyLtd 2022-02-25 2023-04-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 14002297










UNCAPPED FINANCE II LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 APRIL 2023

 
UNCAPPED FINANCE II LTD
REGISTERED NUMBER: 14002297

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2023

2023
Note
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
113,264

  
113,264

Creditors: amounts falling due within one year
 5 
(113,254)

Net current assets
  
 
 
10

Total assets less current liabilities
  
10

  

Net assets
  
10


Capital and reserves
  

Called up share capital 
 6 
10

  
10


The director considers 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 director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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: 




P M Pisarz
Director

Date: 28 February 2024

The notes on pages 2 to 6 form part of these financial statements.
Page 1

 
UNCAPPED FINANCE II LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

1.


General information

Uncapped Finance II Ltd is a private company, limited by shares, registered in England and Wales, registration number 14002297. The registered office is International House, 36-38 Cornhill, London, EC3V 3NG.
The company was incorporated on 25 March 2022. These are the first financial statements of the company and have been prepared for the period 25 March 2022 to 30 April 2023. 

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The functional and presentational currency is GBP and the financial statements are rounded to the nearest £1.

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d).

This information is included in the consolidated financial statements of Uncapped Ltd as at 30 April 2023 and these financial statements may be obtained from Companies House.

 
2.3

Going concern

The company has not traded during the year. Uncapped Ltd have the ability to and will continue to provide financial support so that the company will be able to meet its financial obligations as and when they fall due, for at least 12 months from the date of signing these accounts. On this basis the directors believe that the adoption of the going concern basis is appropriate.

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

Page 2

 
UNCAPPED FINANCE II LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
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

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.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

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.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Page 3

 
UNCAPPED FINANCE II LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

2.Accounting policies (continued)


2.7
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.


3.


Employees

The average monthly number of employees, including the director, during the period was as follows:


        2023
            No.






Director
1

Page 4

 
UNCAPPED FINANCE II LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

4.


Debtors

2023
£


Amounts owed by group undertakings
113,264


Amounts owed by group undertakings are unsecured, interest free, have no fixed date of repayment and
are repayable on demand.


5.


Creditors: Amounts falling due within one year

2023
£

Amounts owed to group undertakings
113,254


Amounts owed to group undertakings are unsecured, interest free, have no fixed date of repayment and
are repayable on demand.

Page 5

 
UNCAPPED FINANCE II LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

6.


Share capital

2023
£
Authorised, allotted, called up and fully paid


1,000 Ordinary shares of £0.01 each
10


The company has issued 1000 ordinary shares having nominal value of £0.01 per share during the period.


7.


Related party transactions

Included in debtors at the period end, is amounts owed from fellow subsidiaries of the parent entity of £88,177 from Uncapped Technology Inc and £25,087 from Uncapped Management GmBH. These amounts are unsecured, interest free, have no fixed date of repayment and are repayable on demand.
Included in creditors at the period end, in an amount owed of £60,540 to Uncapped Ltd, the parent entity. This amount are unsecured, interest free, have no fixed date of repayment and are repayable on demand.
Included in creditors at the period end, is an amount owed of £52,714 to Uncapped Tech Finance Germany UTF GmBH, a fellow subsidiary of the parent entity. This amount are unsecured, interest free, have no fixed date of repayment and are repayable on demand.


8.


Controlling party

Uncapped Ltd is the ultimate parent company, registered in England and Wales with the registered number 12258266, with a registered office of International House, 36-38 Cornhill, London, EC3V 3NG. Financial statements are available from the Registrar of Companies, Companies House, Cardiff, CF14 3UZ. 

Page 6