Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseNo description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03299823 2023-01-01 2023-12-31 03299823 2022-01-01 2022-12-31 03299823 2023-12-31 03299823 2022-12-31 03299823 2022-01-01 03299823 c:Director1 2023-01-01 2023-12-31 03299823 c:Director2 2023-01-01 2023-12-31 03299823 c:RegisteredOffice 2023-01-01 2023-12-31 03299823 d:CurrentFinancialInstruments 2023-12-31 03299823 d:CurrentFinancialInstruments 2022-12-31 03299823 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 03299823 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 03299823 d:ShareCapital 2023-12-31 03299823 d:ShareCapital 2022-12-31 03299823 d:RetainedEarningsAccumulatedLosses 2023-12-31 03299823 d:RetainedEarningsAccumulatedLosses 2022-12-31 03299823 d:OtherDeferredTax 2023-12-31 03299823 d:OtherDeferredTax 2022-12-31 03299823 c:OrdinaryShareClass1 2023-01-01 2023-12-31 03299823 c:OrdinaryShareClass1 2023-12-31 03299823 c:OrdinaryShareClass1 2022-12-31 03299823 c:OrdinaryShareClass2 2023-01-01 2023-12-31 03299823 c:OrdinaryShareClass2 2023-12-31 03299823 c:OrdinaryShareClass2 2022-12-31 03299823 c:OrdinaryShareClass3 2023-01-01 2023-12-31 03299823 c:OrdinaryShareClass3 2023-12-31 03299823 c:OrdinaryShareClass3 2022-12-31 03299823 c:OrdinaryShareClass4 2023-01-01 2023-12-31 03299823 c:OrdinaryShareClass4 2023-12-31 03299823 c:OrdinaryShareClass4 2022-12-31 03299823 c:OrdinaryShareClass5 2023-01-01 2023-12-31 03299823 c:OrdinaryShareClass5 2023-12-31 03299823 c:OrdinaryShareClass5 2022-12-31 03299823 c:FRS102 2023-01-01 2023-12-31 03299823 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 03299823 c:FullAccounts 2023-01-01 2023-12-31 03299823 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03299823 6 2023-01-01 2023-12-31 03299823 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 03299823


 
 
 
 
 
 
 
SUPERETTO LIMITED
FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
SUPERETTO LIMITED
 

COMPANY INFORMATION


Directors
N Ackerman 
B Ackerman 




Registered number
03299823



Registered office
113 Brent Street
London

NW4 2DX





 
SUPERETTO LIMITED
 

CONTENTS



Page
Balance Sheet
 
1
Notes to the Financial Statements
 
2 - 6


 
SUPERETTO LIMITED
REGISTERED NUMBER: 03299823

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
24,526,709
23,697,303

Current assets
  

Cash at bank and in hand
  
2,644
144

Creditors: amounts falling due within one year
 5 
(4,231,038)
(4,226,714)

Net current liabilities
  
 
 
(4,228,394)
 
 
(4,226,570)

Total assets less current liabilities
  
20,298,315
19,470,733

Provisions for liabilities
 6 
(6,526,471)
(7,499,988)

Net assets
  
13,771,844
11,970,745


Capital and reserves
  

Allotted, called up and fully paid share capital
 7 
9,000
9,000

Profit and loss account
  
13,762,844
11,961,745

Equity shareholders' funds
  
13,771,844
11,970,745


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 Directors' Report and Statement of Income and Retained Earnings in accordance with provisions applicable to companies subject to the small companies regime, under section 444 of the Companies Act 2006.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 September 2024.




B Ackerman
Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
SUPERETTO LIMITED
 

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

1.


General information

Superetto Limited (company number: 03299823) is a private limited company limited by shares incorporated in England and Wales. The registered office is 113 Brent Street, London, NW4 2DX. The trading address is the same as the registered office.

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 the Republic of Ireland and the Companies Act 2006.
The financial statements are prepared in GBP sterling, which is the functional currency of the Company. Monetary amounts in these financial statements are rounded to the nearest £ (GBP). 
The Company has taken advantage of the exemption in Financial Reporting Standard 102, section 1A.7 from the requirements to produce a Statement of Cash Flows on the grounds that it is a small company. 

The following principal accounting policies have been applied:

 
2.2

Valuation of investments

Investments held as fixed assets are shown at the net present value of future cash flows using the effective interest rate method.

 
2.3

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.

Page 2

 
SUPERETTO LIMITED
 

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

2.Accounting policies (continued)

 
2.4

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.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest rate method 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. Financial assets classified as receivable within one year are not amortised.
Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initally measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.
Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired when there is objective evidence that, as a result of one or more events that occured after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.
If there is a decrease in the impairment loss arising from an event occuring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in the Statement of Income and Retained Earnings.
Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price.
Short-term creditors are measured at cost/transaction price and not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Page 3

 
SUPERETTO LIMITED
 

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

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax.

The current corporation tax charge is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet 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.




3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Fixed asset investments





Other fixed asset investments

£



Valuation


At 1 January 2023
23,697,303


Valuation changes
829,406



At 31 December 2023
24,526,709




Loan notes are shown at their net present value at the Balance Sheet date. The loan note is unsecured and accrues no interest. The nominal value of the loan notes held is £30m. The loan notes are redeemable at par, with the initial redemption of £2m scheduled for November 2029.

Page 4

 
SUPERETTO LIMITED
 

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

5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other creditors
4,227,474
4,223,894

Accruals and deferred income
3,564
2,820

4,231,038
4,226,714



6.


Provision for liabilities




2023
2022


£

£




Deferred taxation


At beginning and end of year
7,499,988
7,499,988


Charged to profit or loss
(973,517)
-



At end of year
6,526,471
7,499,988

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Gains deferred on disposal of investments
7,499,988
7,499,988

Allowable losses to be utilised
(973,517)
-

6,526,471
7,499,988

Page 5

 
SUPERETTO LIMITED
 

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

7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,000 (2022 - 1,000) Ordinary A shares of £1.00 each
1,000
1,000
1,000 (2022 - 1,000) Ordinary B shares of £1.00 each
1,000
1,000
1,000 (2022 - 1,000) Ordinary C shares of £1.00 each
1,000
1,000
1,000 (2022 - 1,000) Ordinary D shares of £1.00 each
1,000
1,000
1,000 (2022 - 1,000) Ordinary E shares of £1.00 each
1,000
1,000
1,000 (2022 - 1,000) Ordinary F shares of £1.00 each
1,000
1,000
1,000 (2022 - 1,000) Ordinary G shares of £1.00 each
1,000
1,000
1,000 (2022 - 1,000) Ordinary H shares of £1.00 each
1,000
1,000
1,000 (2022 - 1,000) Ordinary I shares of £1.00 each
1,000
1,000

9,000

9,000



Page 6