Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31No description of principal activity2023-01-01false98truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 13559798 2023-01-01 2023-12-31 13559798 2021-08-11 2022-12-31 13559798 2023-12-31 13559798 2022-12-31 13559798 c:Director1 2023-01-01 2023-12-31 13559798 d:OfficeEquipment 2023-01-01 2023-12-31 13559798 d:OfficeEquipment 2023-12-31 13559798 d:OfficeEquipment 2022-12-31 13559798 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 13559798 d:CurrentFinancialInstruments 2023-12-31 13559798 d:CurrentFinancialInstruments 2022-12-31 13559798 d:Non-currentFinancialInstruments 2023-12-31 13559798 d:Non-currentFinancialInstruments 2022-12-31 13559798 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 13559798 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 13559798 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 13559798 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 13559798 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 13559798 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 13559798 d:ShareCapital 2023-12-31 13559798 d:ShareCapital 2022-12-31 13559798 d:RetainedEarningsAccumulatedLosses 2023-12-31 13559798 d:RetainedEarningsAccumulatedLosses 2022-12-31 13559798 c:FRS102 2023-01-01 2023-12-31 13559798 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 13559798 c:FullAccounts 2023-01-01 2023-12-31 13559798 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13559798 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 13559798










NORTH WIND CAPITAL LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
NORTH WIND CAPITAL LIMITED
REGISTERED NUMBER: 13559798

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
38,707
55,412

Current assets
  

Debtors: amounts falling due within one year
 5 
497,941
353,472

Cash at bank and in hand
  
130,293
274,580

  
628,234
628,052

Creditors: amounts falling due within one year
 6 
(405,464)
(477,401)

Net current assets
  
 
 
222,770
 
 
150,651

Creditors: amounts falling due after more than one year
 7 
(922,700)
(800,000)

  

Net liabilities
  
(661,223)
(593,937)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(661,323)
(594,037)

  
(661,223)
(593,937)


Page 1

 
NORTH WIND CAPITAL LIMITED
REGISTERED NUMBER: 13559798
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

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 year 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 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: 




B M Williams
Director

Date: 29 July 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
NORTH WIND CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

North Wind Capital Limited is a private company limited by shares and is incorporated in England and Wales, registered number 13559798. The registered office is 104a Park Street, London W1K 6NG.
The financial statements are rounded to the nearest pound sterling.
The following accounting policies have been applied:

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

 
2.2

Going concern

The financial statements have been prepared on a going concern basis which is dependent on the continued financial support of the Company’s creditors.

 
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

 
NORTH WIND CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

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 year 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

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.

Page 4

 
NORTH WIND CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

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:

Office equipment
-
33%

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.

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

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 Balance sheet 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.
 
Page 5

 
NORTH WIND CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.12
Financial instruments (continued)


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.

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.

Page 6

 
NORTH WIND CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.12
Financial instruments (continued)

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 directors, during the year was 9 (2022 - 8).


4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 January 2023
61,342


Additions
4,855



At 31 December 2023

66,197



Depreciation


At 1 January 2023
5,930


Charge for the year
21,560



At 31 December 2023

27,490



Net book value



At 31 December 2023
38,707

Page 7

 
NORTH WIND CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
220,355
76,324

Other debtors
73,920
73,987

Prepayments and accrued income
187,873
195,509

Tax recoverable
15,793
7,652

497,941
353,472



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other loans
-
152,420

Trade creditors
39,381
34,002

Other taxation and social security
37,893
-

Other creditors
9,930
14,072

Accruals and deferred income
318,260
276,907

405,464
477,401



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other loans
922,700
800,000


Page 8

 
NORTH WIND CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Other loans
-
152,420


Amounts falling due 2-5 years

Other loans
922,700
800,000


922,700
952,420



9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £22,013 (2022: £12,970). Contributions totalling £1,410 (2022: £13,428) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 9