Caseware UK (AP4) 2022.0.179 2022.0.179 2023-12-312023-12-312023-12-3102023-01-01false0falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10664792 2023-01-01 2023-12-31 10664792 2022-01-01 2022-12-31 10664792 2023-12-31 10664792 2022-12-31 10664792 c:Director6 2023-01-01 2023-12-31 10664792 c:Director6 2023-12-31 10664792 c:Director7 2023-01-01 2023-12-31 10664792 c:Director7 2023-12-31 10664792 c:Director8 2023-01-01 2023-12-31 10664792 c:Director8 2023-12-31 10664792 c:RegisteredOffice 2023-01-01 2023-12-31 10664792 d:CurrentFinancialInstruments 2023-12-31 10664792 d:CurrentFinancialInstruments 2022-12-31 10664792 d:Non-currentFinancialInstruments 2023-12-31 10664792 d:Non-currentFinancialInstruments 2022-12-31 10664792 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 10664792 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 10664792 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 10664792 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 10664792 d:ShareCapital 2023-12-31 10664792 d:ShareCapital 2022-12-31 10664792 d:SharePremium 2023-12-31 10664792 d:SharePremium 2022-12-31 10664792 d:OtherMiscellaneousReserve 2023-12-31 10664792 d:OtherMiscellaneousReserve 2022-12-31 10664792 d:RetainedEarningsAccumulatedLosses 2023-12-31 10664792 d:RetainedEarningsAccumulatedLosses 2022-12-31 10664792 c:OrdinaryShareClass1 2023-01-01 2023-12-31 10664792 c:OrdinaryShareClass1 2023-12-31 10664792 c:OrdinaryShareClass1 2022-12-31 10664792 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 10664792 c:FullAccounts 2023-01-01 2023-12-31 10664792 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10664792 c:Micro-entities 2023-01-01 2023-12-31 10664792 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10664792









FORTEZZA CYBER LIMITED







UNAUDITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
FORTEZZA CYBER LIMITED
 
 
COMPANY INFORMATION


Directors
Corpag Services Directors (UK) Limited (appointed 22 July 2022)
Natalie Mulvihill  (appointed 22 July 2022)
Marco Castaldo (appointed 10 January 2023)




Registered number
10664792



Registered office
1 Charterhouse Mews

London

EC1M 6BB





 
FORTEZZA CYBER LIMITED
 

CONTENTS



Page
Directors' Report
1
Profit and Loss Account
2
Balance Sheet
3 - 4
Notes to the Financial Statements
5 - 8


 
FORTEZZA CYBER LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023


Directors' responsibilities statement

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Under company law the directors 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 directors are required to:


select suitable accounting policies and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

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

The directors are 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 them to ensure that the financial statements comply with the Companies Act 2006They are 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.

Principal activity

The principal activity of the company in the year under review was that of an investment holding company.

Directors

The directors who served during the year were:

Corpag Services Directors (UK) Limited (appointed 22 July 2022)
Natalie Mulvihill (appointed 22 July 2022)
Marco Castaldo (appointed 10 January 2023)

This report was approved by the board on 5 April 2024 and signed on its behalf.
 





Natalie Mulvihill- Director

Page 1

 
FORTEZZA CYBER LIMITED
 
 
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023

2023
2022
Note
£
£

Other charges
  
85.440
(463.147)

Profit/(loss)
  
85.440
(463.147)

Page 2

 
FORTEZZA CYBER LIMITED
REGISTERED NUMBER: 10664792

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
13.829.378
13.829.378

  
13.829.378
13.829.378

Current assets
  

Debtors: amounts falling due after more than one year
 5 
-
1

Debtors: amounts falling due within one year
 5 
643.422
722.065

Cash At Bank And In Hand
 6 
-
71.519

  
643.422
793.585

Creditors: amounts falling due within one year
 7 
(3.589)
(63.317)

Net current assets
  
 
 
639.833
 
 
730.268

Total assets less current liabilities
  
14.469.211
14.559.646

Creditors: amounts falling due after more than one year
  
(9.125.025)
(9.300.900)

  

Net assets
  
5.344.186
5.258.746


Capital and reserves
  

Called up share capital 
 9 
4.068
4.068

Share premium account
  
5.412.302
5.412.302

Other reserves
  
(157.624)
305.523

Profit and loss account
  
85.440
(463.147)

  
5.344.186
5.258.746


Page 3

 
FORTEZZA CYBER LIMITED
REGISTERED NUMBER: 10664792
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023



Notes


Average number of employees

The average monthly number of employees, including directors, during the year was 0 (2022 - 0).

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.

These financial statements have been prepared in accordance with the provisions applicable to entities subject to the micro-entities' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 5 April 2024.




................................................
Natalie Mulvihill
 Director

Page 4

 
FORTEZZA CYBER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


Statutory information

Fortezza Cyber Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 105 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 following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis having regard to the future trading performance of the company and continued financial support from it parent company. The directors continually monitor the financial conditions of the company and have in their opinion, made available sufficient funding to enable the company to trade.

 
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.

Page 5

 
FORTEZZA CYBER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet 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 balance sheet date.

 
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

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

Trade and other creditors are obligations to pay for services that have been acquired in the ordinary course of business and are measured at historical cost. Accrued expenses are recognised when the amount can be measured reliably.

 
2.8

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Page 6

 
FORTEZZA CYBER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees

The Company has no employees other than the directors, who did not receive any remuneration (2022 - £NIL).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
13.829.378



At 31 December 2023
13.829.378




                                                              Country of                   Classes of                Ownership
                                                             incorporation                shares held          2023            2022
Fortezza Cyber SpA (Cybaze)                     Italy                             Ordinary             100%           100%


5.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
643.422
722.065

643.422
722.065



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
-
71.519

-
71.519


Page 7

 
FORTEZZA CYBER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
(11)
59.716

Accruals and deferred income
3.600
3.601

3.589
63.317



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Amounts owed to group undertakings
9.125.025
9.300.900

9.125.025
9.300.900



9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



40.684.235 (2022 - 40.684.235) Ordinary shares of £0,0001 each
4.068
4.068



10.


Related party transactions

At the balance sheet date, included within other debtors there was a loan amount of £643,422 (2022: £722,066) owed to the Company from Cybaze Italia SpA., a subsidiary undertaking. 


11.


Post balance sheet events

There have been no other significant events affecting the Company since the year end.


12.


Ultimate controlling party

In the opinion of the Directors of the Company, there was neither an immediate controlling party nor an ultimate controlling party during the accounting period. 

 
Page 8