Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-31falsefalse2022-09-013No description of principal activity3trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12824600 2022-09-01 2023-08-31 12824600 2021-09-01 2022-08-31 12824600 2023-08-31 12824600 2022-08-31 12824600 c:Director1 2022-09-01 2023-08-31 12824600 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-09-01 2023-08-31 12824600 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-08-31 12824600 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-08-31 12824600 d:CurrentFinancialInstruments 2023-08-31 12824600 d:CurrentFinancialInstruments 2022-08-31 12824600 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 12824600 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 12824600 d:ShareCapital 2023-08-31 12824600 d:ShareCapital 2022-08-31 12824600 d:RetainedEarningsAccumulatedLosses 2023-08-31 12824600 d:RetainedEarningsAccumulatedLosses 2022-08-31 12824600 c:OrdinaryShareClass1 2022-09-01 2023-08-31 12824600 c:OrdinaryShareClass1 2023-08-31 12824600 c:OrdinaryShareClass1 2022-08-31 12824600 c:FRS102 2022-09-01 2023-08-31 12824600 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 12824600 c:FullAccounts 2022-09-01 2023-08-31 12824600 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 12824600 e:PoundSterling 2022-09-01 2023-08-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12824600









STABLECOIN LABS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 AUGUST 2023

 
STABLECOIN LABS LIMITED
REGISTERED NUMBER: 12824600

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
1,789

  
-
1,789

Current assets
  

Cash at bank and in hand
 5 
550
600

  
550
600

Creditors: amounts falling due within one year
 6 
(296)
(47,249)

Net current assets/(liabilities)
  
 
 
254
 
 
(46,649)

Total assets less current liabilities
  
254
(44,860)

  

Net assets/(liabilities)
  
254
(44,860)


Capital and reserves
  

Called up share capital 
 7 
99
99

Profit and loss account
  
155
(44,959)

  
254
(44,860)


Page 1

 
STABLECOIN LABS LIMITED
REGISTERED NUMBER: 12824600
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 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 period 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 by: 




Gudgeon L
Director

Date: 29 August 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
STABLECOIN LABS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023

1.


General information

Stablecoin Labs Limited is a private company limited by shares incorporated in England & Wales (registered number 12824600). The registered office is 101 New Cavendish Street, London, United Kingdom, W1W 6XH. The financial statements are presented in Sterling, which is the functional currency of the company.

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.

The following principal accounting policies have been applied:

 
2.2

Going concern

In assessing the ability of the company to operate as a going concern, management have evaluated current and forecasted operational results, and the solvency of the company. As a result, the directors consider it appropriate to prepare the financial statements on a going concern basis.

 
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 3

 
STABLECOIN LABS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 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

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.6

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.

 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have an indefinite useful life.

Page 4

 
STABLECOIN LABS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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.

3.


Employees




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


4.


Intangible assets




Digital Assets

£





At 1 September 2022
1,789


Disposals
(1,789)



At 31 August 2023

-






Net book value



At 31 August 2023
-



At 31 August 2022
1,789



Page 5

 
STABLECOIN LABS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023

5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
550
600

550
600



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amount owed to related undertakings
-
42,849

Corporation tax
296
-

Accruals and deferred income
-
4,400

296
47,249



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



99 (2022 - 99) Ordinary shares of £1.00 each
99
99


 
Page 6