Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31falsetrue112023-01-01falseNo description of principal activity8falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10958599 2023-01-01 2023-12-31 10958599 2023-12-31 10958599 2022-01-01 2022-12-31 10958599 2022-12-31 10958599 2022-01-01 10958599 1 2023-01-01 2023-12-31 10958599 1 2022-01-01 2022-12-31 10958599 d:Director1 2023-01-01 2023-12-31 10958599 d:Director2 2023-01-01 2023-12-31 10958599 d:Director2 2023-12-31 10958599 d:Director3 2023-01-01 2023-12-31 10958599 d:Director3 2023-12-31 10958599 d:Director4 2023-01-01 2023-12-31 10958599 d:Director4 2023-12-31 10958599 d:RegisteredOffice 2023-01-01 2023-12-31 10958599 e:ComputerEquipment 2023-01-01 2023-12-31 10958599 e:ComputerEquipment 2023-12-31 10958599 e:ComputerEquipment 2022-12-31 10958599 e:ComputerEquipment e:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10958599 e:PatentsTrademarksLicencesConcessionsSimilar 2023-01-01 2023-12-31 10958599 e:ComputerSoftware 2023-12-31 10958599 e:ComputerSoftware 2022-12-31 10958599 e:CurrentFinancialInstruments 2023-12-31 10958599 e:CurrentFinancialInstruments 2022-12-31 10958599 e:Non-currentFinancialInstruments 2023-12-31 10958599 e:Non-currentFinancialInstruments 2022-12-31 10958599 e:CurrentFinancialInstruments e:WithinOneYear 2023-12-31 10958599 e:CurrentFinancialInstruments e:WithinOneYear 2022-12-31 10958599 e:Non-currentFinancialInstruments e:AfterOneYear 2023-12-31 10958599 e:Non-currentFinancialInstruments e:AfterOneYear 2022-12-31 10958599 e:ShareCapital 2023-01-01 2023-12-31 10958599 e:ShareCapital 2023-12-31 10958599 e:ShareCapital 2022-12-31 10958599 e:ShareCapital 2022-01-01 10958599 e:SharePremium 2023-01-01 2023-12-31 10958599 e:SharePremium 2023-12-31 10958599 e:SharePremium 1 2023-01-01 2023-12-31 10958599 e:SharePremium 2022-12-31 10958599 e:SharePremium 2022-01-01 10958599 e:SharePremium 1 2022-01-01 2022-12-31 10958599 e:OtherMiscellaneousReserve 2023-01-01 2023-12-31 10958599 e:OtherMiscellaneousReserve 2023-12-31 10958599 e:OtherMiscellaneousReserve 1 2023-01-01 2023-12-31 10958599 e:OtherMiscellaneousReserve 2022-12-31 10958599 e:OtherMiscellaneousReserve 2022-01-01 10958599 e:OtherMiscellaneousReserve 1 2022-01-01 2022-12-31 10958599 e:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 10958599 e:RetainedEarningsAccumulatedLosses 2023-12-31 10958599 e:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 10958599 e:RetainedEarningsAccumulatedLosses 2022-12-31 10958599 e:RetainedEarningsAccumulatedLosses 2022-01-01 10958599 e:RetainedEarningsAccumulatedLosses 1 2022-01-01 2022-12-31 10958599 d:FRS102 2023-01-01 2023-12-31 10958599 d:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 10958599 d:FullAccounts 2023-01-01 2023-12-31 10958599 d:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10958599 2 2023-01-01 2023-12-31 10958599 6 2023-01-01 2023-12-31 10958599 e:ComputerSoftware e:OwnedIntangibleAssets 2023-01-01 2023-12-31 10958599 f:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Company registration number: 10958599







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


PLATA CAPITAL LIMITED






































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PLATA CAPITAL LIMITED
 


 
COMPANY INFORMATION


Directors
V Modgill 
L Isetta (appointed 23 April 2024)
G Marino (appointed 23 April 2024)
G Modgill (appointed 23 April 2024)




Registered number
10958599



Registered office
C/O Mishcon De Reya Africa House
70 Kingsway

London

WC2B 6AH




Accountants
Menzies LLP
Chartered Accountants

Victoria House

50-58 Victoria Road

Farnborough

Hampshire

GU14 7PG





 


PLATA CAPITAL LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Statement of Changes in Equity
3
Notes to the Financial Statements
4 - 9


 


PLATA CAPITAL LIMITED
REGISTERED NUMBER:10958599



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
838,852
1,658,806

Tangible assets
 5 
9,058
25,212

Investments
 6 
152,133
60,951

  
1,000,043
1,744,969

Current assets
  

Debtors: amounts falling due within one year
 7 
5,930,313
6,389,720

Cash at bank and in hand
  
2,565,726
251,621

  
8,496,039
6,641,341

Creditors: amounts falling due within one year
 8 
(6,467,716)
(8,003,863)

Net current assets/(liabilities)
  
 
 
2,028,323
 
 
(1,362,522)

Total assets less current liabilities
  
3,028,366
382,447

Creditors: amounts falling due after more than one year
 9 
(3,912,041)
(28,028)

  

Net (liabilities)/assets
  
(883,675)
354,419


Capital and reserves
  

Called up share capital 
  
110
109

Share premium account
  
4,823,655
4,000,137

Other reserves
  
27,282
1,027,171

Profit and loss account
  
(5,734,722)
(4,672,998)

  
(883,675)
354,419


Page 1

 


PLATA CAPITAL LIMITED
REGISTERED NUMBER:10958599


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 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 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 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 income and retained earnings 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: 




................................................
V Modgill
Director

Date: 26 September 2024

The notes on pages 4 to 9 form part of these financial statements.

Page 2

 


PLATA CAPITAL LIMITED
 



STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Share premium account
Other reserves
Profit and loss account
Total equity

£
£
£
£
£


At 1 January 2022
109
4,000,137
67,277
(1,810,253)
2,257,270


Comprehensive income for the year

Loss for the year
-
-
-
(2,862,745)
(2,862,745)

Granted during the year
-
-
959,894
-
959,894



At 1 January 2023
109
4,000,137
1,027,171
(4,672,998)
354,419


Comprehensive income for the year

Loss for the year
-
-
-
(1,061,724)
(1,061,724)


Contributions by and distributions to owners

Shares issued during the year
1
-
-
-
1

Transaction costs recognised directly in equity
-
(176,371)
-
-
(176,371)

Transfer between other reserves
-
999,889
(999,889)
-
-


At 31 December 2023
110
4,823,655
27,282
(5,734,722)
(883,675)


The notes on pages 4 to 9 form part of these financial statements.

Page 3

 


PLATA CAPITAL LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Plata Capital Limited is a private company limited by shares incorporated in England and Wales and domiciled in the United Kingdom. Its registered office, which is also its principal place of business, is disclosed on the company information page.
The financial statements are presented in sterling which is the functional currency of the Company and rounded to the nearest £.

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

The company has the full support of its shareholders who are committed to future growth and the company is in regular correspondence with all significant creditors. 
For this reason, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, the company continues to adopt the going concern basis of accounting in preparing the annual financial statements.

  
2.3

Consolidation

In the opinion of the directors, the Company and its subsidiary undertakings comprise a small group. The Company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts.

Page 4

 


PLATA CAPITAL LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

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 Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.5

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.

 
2.6

Interest income

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

Page 5

 


PLATA CAPITAL LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the year 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 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.

 
2.8

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 a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 Amortisation is provided on the following bases:

Computer software
-
33%
Straight-line basis

 
2.9

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.

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:

Computer equipment
-
33%
Straight-line basis

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.

Page 6

 


PLATA CAPITAL LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.11

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2022 - 11).


4.


Intangible assets




Computer software

£



Cost


At 1 January 2023
2,484,708



At 31 December 2023

2,484,708



Amortisation


At 1 January 2023
825,902


Charge for the year on owned assets
819,954



At 31 December 2023

1,645,856



Net book value



At 31 December 2023
838,852



At 31 December 2022
1,658,806



Page 7

 


PLATA CAPITAL LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 January 2023
51,424


Additions
834



At 31 December 2023

52,258



Depreciation


At 1 January 2023
26,212


Charge for the year on owned assets
16,988



At 31 December 2023

43,200



Net book value



At 31 December 2023
9,058



At 31 December 2022
25,212


6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
60,951


Additions
91,182



At 31 December 2023
152,133




Page 8

 


PLATA CAPITAL LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Debtors

2023
2022
£
£


Trade debtors
-
2,703,511

Amounts owed by group undertakings
4,108,875
987,085

Other debtors
681,548
1,622,418

Prepayments and accrued income
202,196
389,221

Deferred taxation
937,694
687,485

5,930,313
6,389,720



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
-
39,765

Bank loans
-
9,890

Other loans
595,446
1,501,032

Trade creditors
1,168,699
4,372,193

Debt facility
258,046
-

Amount owed to group undertakings
34,753
67,741

Other taxation and social security
-
280,426

Other creditors
809,861
369,953

Accruals and deferred income
3,600,911
1,362,863

6,467,716
8,003,863



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
-
28,028

Debt facility
3,912,041
-

3,912,041
28,028


 
Page 9