Caseware UK (AP4) 2023.0.135 2023.0.135 false12023-01-01truetrue0No description of principal activity 14003806 2023-01-01 2023-12-31 14003806 2022-03-25 2022-12-31 14003806 2023-12-31 14003806 2022-12-31 14003806 c:Director1 2023-01-01 2023-12-31 14003806 c:Director2 2023-01-01 2023-12-31 14003806 d:CurrentFinancialInstruments 2023-12-31 14003806 d:CurrentFinancialInstruments 2022-12-31 14003806 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 14003806 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 14003806 d:ShareCapital 2023-12-31 14003806 d:ShareCapital 2022-12-31 14003806 d:ForeignCurrencyTranslationReserve 2023-12-31 14003806 d:ForeignCurrencyTranslationReserve 2022-12-31 14003806 d:RetainedEarningsAccumulatedLosses 2023-12-31 14003806 d:RetainedEarningsAccumulatedLosses 2022-12-31 14003806 c:FRS102 2023-01-01 2023-12-31 14003806 c:Audited 2023-01-01 2023-12-31 14003806 c:FullAccounts 2023-01-01 2023-12-31 14003806 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 14003806 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure


















QCP Trading (UK) Limited

formerly known as QCP Capital (UK) Limited























Financial statements



For the year ended 31 December 2023



Registered number: 14003806

 
QCP Trading (UK) Limited - Registered number: 14003806

Statement of financial position
As at 31 December 2023

2023
2022
Note
$
$

  

Current assets
  

Debtors: amounts falling due within one year
 4 
18,060
2,407

Cash at bank and in hand
  
5,000
-

  
23,060
2,407

Creditors: amounts falling due within one year
 5 
(18,576)
(12,669)

Net current assets/(liabilities)
  
 
 
4,484
 
 
(10,262)

  

Net assets/(liabilities)
  
4,484
(10,262)


Capital and reserves
  

Called up share capital 
  
1
1

Foreign exchange reserve
  
(266)
-

Profit and loss account
  
4,749
(10,263)

  
4,484
(10,262)


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 20 September 2024.




Darius Zai Li Sit
Jin Li Lim
Director
Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
QCP Trading (UK) Limited

 
Notes to the financial statements
For the year ended 31 December 2023

1.


General information

QCP Trading (UK) Limited is a private company incorporated by shares and was incorporated in England and Wales, registration number 14003806. Its registered office is C/O Buzzacott LLP, 130 Wood Street, London, EC2V 6DL.

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 Republic of Ireland' ('FRS 102') 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 currency is GBP. This differs from the presentational currency which is USD.

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.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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.

Page 2

 
QCP Trading (UK) Limited

Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. 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.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting 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 reporting 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

Creditors

Short-term creditors are measured at the transaction price.

 
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 and liabilities are offset and the net amount reported in the Statement of financial position when there is an 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.


3.


Employees

The average monthly number of employees during the year was 1 (2022 - 0).

Page 3

 
QCP Trading (UK) Limited

 
Notes to the financial statements
For the year ended 31 December 2023

4.


Debtors

2023
2022
$
$


Amounts owed by group undertakings
18,060
-

Deferred taxation
-
2,407

18,060
2,407



5.


Creditors: amounts falling due within one year

2023
2022
$
$

Amounts owed to group undertakings
-
927

Corporation tax
1,068
-

Accruals and deferred income
17,508
11,742

18,576
12,669



6.


Contingent liabilities

The company had no contingent liabilities at 31 December 2023 or 2022.


7.


Capital commitments

The company had no capital commitments at 31 December 2023 or 2022.


8.


Controlling party

The smallest group of undertakings for which group accounts are prepared which includes the company is headed
by L3 Management Pte Ltd, whose registered office is 1 Phillip Street, #08-00 Royal One, Singapore, 048692.
The ultimate parent company is L3 Holdings Limited, which is incorporated in the Cayman Islands.


9.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 25 September 2024 by Jonathan West (Senior statutory auditor) on behalf of Buzzacott LLP.

Page 4