Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falsethat of provision of modelling and acting services33falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08377377 2023-01-01 2023-12-31 08377377 2022-01-01 2022-12-31 08377377 2023-12-31 08377377 2022-12-31 08377377 c:Director2 2023-01-01 2023-12-31 08377377 d:OfficeEquipment 2023-01-01 2023-12-31 08377377 d:OfficeEquipment 2023-12-31 08377377 d:OfficeEquipment 2022-12-31 08377377 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08377377 d:CurrentFinancialInstruments 2023-12-31 08377377 d:CurrentFinancialInstruments 2022-12-31 08377377 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 08377377 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 08377377 d:ShareCapital 2023-12-31 08377377 d:ShareCapital 2022-12-31 08377377 d:OtherMiscellaneousReserve 2023-01-01 2023-12-31 08377377 d:OtherMiscellaneousReserve 2023-12-31 08377377 d:OtherMiscellaneousReserve 2022-12-31 08377377 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 08377377 d:RetainedEarningsAccumulatedLosses 2023-12-31 08377377 d:RetainedEarningsAccumulatedLosses 2022-12-31 08377377 c:FRS102 2023-01-01 2023-12-31 08377377 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 08377377 c:FullAccounts 2023-01-01 2023-12-31 08377377 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08377377 2 2023-01-01 2023-12-31 08377377 6 2023-01-01 2023-12-31 08377377 1 2023-12-31 08377377 2 2023-12-31 08377377 3 2023-12-31 08377377 1 2022-12-31 08377377 2 2022-12-31 08377377 3 2022-12-31 08377377 f:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 08377377










CARA & CO. LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
CARA & CO. LIMITED
REGISTERED NUMBER: 08377377

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
$
$

Fixed assets
  

Tangible assets
 4 
-
3,511

Investments
 5 
20,677,865
19,545,405

  
20,677,865
19,548,916

Current assets
  

Debtors: amounts falling due within one year
 6 
12,008,895
14,391,247

Cash at bank and in hand
 7 
10,385,765
12,127,465

  
22,394,660
26,518,712

Creditors: amounts falling due within one year
 8 
(1,921,248)
(3,215,451)

Net current assets
  
 
 
20,473,412
 
 
23,303,261

Total assets less current liabilities
  
41,151,277
42,852,177

  

Net assets
  
41,151,277
42,852,177


Capital and reserves
  

Called up share capital 
  
133
133

Other reserves
 9 
(843,714)
(2,540,515)

Profit and loss account
 9 
41,994,858
45,392,559

  
41,151,277
42,852,177


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.

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.

Page 1

 
CARA & CO. LIMITED
REGISTERED NUMBER: 08377377
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 September 2024.


C H Delevingne
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
CARA & CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The company is a private company limited by shares, incorporated in England and Wales, registration
number 08377377. The address of the registered office is 14th Floor, 33 Cavendish Square, London,
W1G 0PW.
The principal activity of the company is the provision of modelling and acting services.

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 following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency 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.

Page 3

 
CARA & CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

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.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

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.

 
2.6

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 balance sheet date in the countries where the Company operates and generates income.

 
2.7

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

 
CARA & CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.7
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
-
2-3 years

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.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Investments in artwork are measured at cost less accumulated impairment.

 
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.

Page 5

 
CARA & CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
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.

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.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is 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.

Page 6

 
CARA & CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.12
Financial instruments (continued)

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

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

Page 7

 
CARA & CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Office equipment

$



Cost or valuation


At 1 January 2023
23,893



At 31 December 2023

23,893



Depreciation


At 1 January 2023
20,382


Charge for the year on owned assets
3,511



At 31 December 2023

23,893



Net book value



At 31 December 2023
-



At 31 December 2022
3,511

Page 8

 
CARA & CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Fixed asset investments





Investments in subsidiary companies
Listed investments
Unlisted investments
Artwork
Total

$
$
$
$
$



Cost or valuation


At 1 January 2023
22,500
18,235,990
586,915
850,000
19,695,405


Additions
-
6,835,761
-
-
6,835,761


Disposals
-
(7,399,768)
-
-
(7,399,768)


Revaluations
-
1,696,467
-
-
1,696,467



At 31 December 2023

22,500
19,368,450
586,915
850,000
20,827,865



Impairment


At 1 January 2023
-
-
150,000
-
150,000



At 31 December 2023

-
-
150,000
-
150,000



Net book value



At 31 December 2023
22,500
19,368,450
436,915
850,000
20,677,865



At 31 December 2022
22,500
18,235,990
436,915
850,000
19,545,405


6.


Debtors

2023
2022
$
$


Trade debtors
26,516
890,340

Amounts owed by group undertakings
685,768
28,658

Other debtors
11,293,076
13,193,765

Prepayments and accrued income
3,535
278,484

12,008,895
14,391,247


Page 9

 
CARA & CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Cash and cash equivalents

2023
2022
$
$

Cash at bank
10,385,765
12,127,465



8.


Creditors: Amounts falling due within one year

2023
2022
$
$

Trade creditors
637
250,158

Corporation tax
616,683
858,844

Other taxation and social security
-
105,154

Other creditors
1,202,012
4,376

Accruals and deferred income
101,916
1,996,919

1,921,248
3,215,451



9.


Reserves

Other reserves

Other reserves comprise gains and losses resulting from the revaluation of investments and any deferred tax thereon.

Profit and loss account

The profit and loss account comprises of accumulated profit less dividends paid out.


10.


Related party transactions

At the balance sheet date, the company owed a director $1,176,730 (2022: $2,642,071 was owed by a Director).

 
Page 10