Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-312022-11-01falseHolding company00falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10468634 2022-11-01 2023-10-31 10468634 2021-11-01 2022-10-31 10468634 2023-10-31 10468634 2022-10-31 10468634 1 2022-11-01 2023-10-31 10468634 d:Director7 2022-11-01 2023-10-31 10468634 c:CurrentFinancialInstruments 2023-10-31 10468634 c:CurrentFinancialInstruments 2022-10-31 10468634 c:CurrentFinancialInstruments c:WithinOneYear 2023-10-31 10468634 c:CurrentFinancialInstruments c:WithinOneYear 2022-10-31 10468634 c:ShareCapital 2023-10-31 10468634 c:ShareCapital 2022-10-31 10468634 c:SharePremium 2023-10-31 10468634 c:SharePremium 2022-10-31 10468634 c:RetainedEarningsAccumulatedLosses 2023-10-31 10468634 c:RetainedEarningsAccumulatedLosses 2022-10-31 10468634 d:OrdinaryShareClass1 2022-11-01 2023-10-31 10468634 d:OrdinaryShareClass1 2023-10-31 10468634 d:OrdinaryShareClass1 2022-10-31 10468634 d:OrdinaryShareClass2 2022-11-01 2023-10-31 10468634 d:OrdinaryShareClass2 2023-10-31 10468634 d:OrdinaryShareClass2 2022-10-31 10468634 d:OrdinaryShareClass3 2022-11-01 2023-10-31 10468634 d:OrdinaryShareClass3 2023-10-31 10468634 d:OrdinaryShareClass3 2022-10-31 10468634 d:FRS102 2022-11-01 2023-10-31 10468634 d:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 10468634 d:FullAccounts 2022-11-01 2023-10-31 10468634 d:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 10468634 c:Subsidiary1 2022-11-01 2023-10-31 10468634 c:Subsidiary1 1 2022-11-01 2023-10-31 10468634 6 2022-11-01 2023-10-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10468634









UNIQUE VENTURES HOLDINGS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2023

 
UNIQUE VENTURES HOLDINGS LIMITED
REGISTERED NUMBER: 10468634

BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
Note
£000
£000

Fixed assets
  

Investments
 4 
11,045
11,045

  
11,045
11,045

Current assets
  

Debtors: amounts falling due within one year
 5 
1,717
-

  
1,717
-

Creditors: amounts falling due within one year
 6 
(2,128)
(277)

Net current liabilities
  
 
 
(411)
 
 
(277)

Total assets less current liabilities
  
10,634
10,768

  

Net assets
  
10,634
10,768


Capital and reserves
  

Called up share capital 
  
505
505

Share premium account
  
21,384
21,384

Profit and loss account
  
(11,255)
(11,121)

  
10,634
10,768


Page 1

 
UNIQUE VENTURES HOLDINGS LIMITED
REGISTERED NUMBER: 10468634
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 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 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.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 October 2024.



M E Karr
Director

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

Page 2

 
UNIQUE VENTURES HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

Unique Ventures Holdings Limited is a private limited company incorporated in England and Wales under the Companies Act. The address of the registered office is given on the company information page and the nature of the company’s operations and its principal activities is that of a holdings 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 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

Going concern

The Company recorded a loss after tax for the year of £134,328 (2022: loss of £58,000 and had net assets at the year-end of £10,634,000 (2022: £10,768,000). The positive net asset position reflects the Company’s investment in its subsidiary, Unique Ventures Limited (t/a Veeve).
As its only subsidiary, the future performance of the Company is highly dependent on the future performance of Veeve. 
During the financial year, the Company received an investment of £2m from existing shareholders which has been passed down to its subsidiary.
On 13 December 2023, the entire share capital of the Company was acquired by Under the Doormat Limited in a share for share exchange. The Company has received a letter of support from its parent company confirming that it remains supportive of the business and is positive about its prospects.
The directors consider the Company to be a going concern based upon detailed profits and loss account, balance sheet and cashflow projections drawn up to 31 March 2026. This is further supported by the events disclosed in note 9, post balance sheet events.
The directors believe they have taken all necessary steps to mitigate the impact of any risks mentioned and potential recession.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
UNIQUE VENTURES HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.6

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.

 
2.7

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.

 
2.8

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 that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet 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 Company has no employees other than the directors, who did not receive any remuneration (2022 - £NIL).

Page 4

 
UNIQUE VENTURES HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

4.


Fixed asset investments





Investments in subsidiary companies

£000



Cost or valuation


At 1 November 2022
11,045



At 31 October 2023
11,045





Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Registered office

Principal activity

Holding

Unique Ventures Limited
210 New Kings Road, London, England, SW6 4NZ
Property rentals
100%


5.


Debtors

2023
2022
£000
£000


Amounts owed by group undertakings
1,717
-

1,717
-



6.


Creditors: Amounts falling due within one year

2023
2022
£000
£000

Other loans
2,128
-

Amounts owed to group undertakings
-
277

2,128
277


Page 5

 
UNIQUE VENTURES HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

7.


Share capital

2023
2022
£000
£000
Allotted, called up and fully paid



29,738,810 (2022 - 29,738,810) Ordinary shares of £0.01000 each
297
297
11,500,000 (2022 - 11,500,000) Ordinary shares of £0.00001 each
-
-
20,779,083 (2022 - 20,779,083) Iredeemable preference shares shares of £0.01000 each
208
208

505

505



8.


Post balance sheet events

On 13 December 2023, the entire share capital of the Company was acquired by Under the Doormat Limited in a share for share exchange. All convertible loan notes issued by the Company's existing shareholders were converted into Ordinary shares of £0.01 each prior to the acquisition by Under the Doormat Limited. On the same date, Under the Doormat Limited raised a further £1.3million in new equity funding.


9.


Holding company

The Company's immediate and ultimate holding company is Under the Doormat Limited, a company registered in England and Wales, copies of the financial statements of Under the Doormat Limited can be
obtained from 210 New Kings Road, London, England, SW6 4NZ.


10.


Controlling party

In the opinion of the directors, there is no ultimate controlling party.

 
Page 6