Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312No description of principal activityfalse2023-01-01false2falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10488085 2023-01-01 2023-12-31 10488085 2022-01-01 2022-12-31 10488085 2023-12-31 10488085 2022-12-31 10488085 c:Director2 2023-01-01 2023-12-31 10488085 d:FurnitureFittings 2023-01-01 2023-12-31 10488085 d:FurnitureFittings 2023-12-31 10488085 d:FurnitureFittings 2022-12-31 10488085 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10488085 d:OfficeEquipment 2023-01-01 2023-12-31 10488085 d:OfficeEquipment 2023-12-31 10488085 d:OfficeEquipment 2022-12-31 10488085 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10488085 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10488085 d:CurrentFinancialInstruments 2023-12-31 10488085 d:CurrentFinancialInstruments 2022-12-31 10488085 d:Non-currentFinancialInstruments 2023-12-31 10488085 d:Non-currentFinancialInstruments 2022-12-31 10488085 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 10488085 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 10488085 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 10488085 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 10488085 d:ShareCapital 2023-12-31 10488085 d:ShareCapital 2022-12-31 10488085 d:OtherMiscellaneousReserve 2023-12-31 10488085 d:OtherMiscellaneousReserve 2022-12-31 10488085 d:RetainedEarningsAccumulatedLosses 2023-12-31 10488085 d:RetainedEarningsAccumulatedLosses 2022-12-31 10488085 c:FRS102 2023-01-01 2023-12-31 10488085 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 10488085 c:FullAccounts 2023-01-01 2023-12-31 10488085 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10488085 4 2023-01-01 2023-12-31 10488085 6 2023-01-01 2023-12-31 10488085 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 10488085









RED CARPET CAPITAL LIMITED








FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
RED CARPET CAPITAL LIMITED
REGISTERED NUMBER: 10488085

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
190,822
77,888

Investments
 5 
42,799
22,341

  
233,621
100,229

Current assets
  

Debtors: amounts falling due after more than one year
 6 
-
1,236,000

Debtors: amounts falling due within one year
 6 
1,314,114
186,163

Cash at bank and in hand
 7 
354,486
64,794

  
1,668,600
1,486,957

Creditors: amounts falling due within one year
 8 
(900,226)
(956,953)

Net current assets
  
 
 
768,374
 
 
530,004

Total assets less current liabilities
  
1,001,995
630,233

Creditors: amounts falling due after more than one year
 9 
(14,167)
(24,169)

  

Net assets
  
987,828
606,064


Capital and reserves
  

Called up share capital 
  
100,001
100,001

Other reserves
  
500,694
500,694

Profit and loss account
  
387,133
5,369

  
987,828
606,064


Page 1

 
RED CARPET CAPITAL LIMITED
REGISTERED NUMBER: 10488085
    
BALANCE SHEET (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: 




................................................
P T Ozturk
Director

Date: 8 November 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
RED CARPET CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Red Carpet Capital Limited is a private company limited by shares. The company is incorporated in England and Wales. The registered office is Aston House, Cornwall Avenue, London, N3 1LF.
The registered number 10488085.

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

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.

 
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.

Page 3

 
RED CARPET CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Borrowing costs

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

 
2.6

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.

  
2.7

Compound instruments

The component parts of compound instruments issued by the company are classified seperately as financial liabilities and equity in accordance with the substance of the contractual arrangement, At the date of issue, the fair value of the liability component is estimated using the prevailing market interest rate for a similar non-convertible instrument. This amount is recorded as a liability on a amortised cost basis using the effective interest method until extinguished upon conversion or at the instrument's maturity date. The equity component is determined by deducting the amount of the liability component from the fair value of the compound instrument as a whole. This is recognised and included in equity net of income tax effects and is not subsequently remeasured,

  
2.8

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividend payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

 
2.9

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

Page 4

 
RED CARPET CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

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:

Fixtures and fittings
-
10 years straight line
Office equipment
-
4 years straight line

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.

 
2.11

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 income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.12

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
2.13

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.

 
2.14

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.

Page 5

 
RED CARPET CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.15

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.

 
2.16

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.

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 instruments 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.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement
Page 6

 
RED CARPET CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.16
Financial instruments (continued)

would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.


3.


Employees

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


4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
95,438
23,199
118,637


Additions
139,204
3,666
142,870


Disposals
-
(700)
(700)



At 31 December 2023

234,642
26,165
260,807



Depreciation


At 1 January 2023
27,483
13,267
40,750


Charge for the year on owned assets
23,467
5,768
29,235



At 31 December 2023

50,950
19,035
69,985



Net book value



At 31 December 2023
183,692
7,130
190,822



At 31 December 2022
67,956
9,932
77,888

Page 7

 
RED CARPET CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Fixed asset investments





Investments in associates
Unlisted investments
Total

£
£
£



Cost or valuation


At 1 January 2023
22,341
-
22,341


Additions
-
20,459
20,459



At 31 December 2023
22,341
20,459
42,800





6.


Debtors

2023
2022
£
£

Due after more than one year

Amounts owed by group undertakings
-
1,236,000

-
1,236,000


2023
2022
£
£

Due within one year

Trade debtors
510,000
-

Other debtors
554,764
124,956

Prepayments and accrued income
249,350
61,207

1,314,114
186,163



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
354,486
64,794

354,486
64,794


Page 8

 
RED CARPET CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,000
10,000

Trade creditors
192,717
6,162

Other taxation and social security
4,870
5,659

Other creditors
48,055
365,132

Accruals and deferred income
644,584
570,000

900,226
956,953



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
14,167
24,169

14,167
24,169



10.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held seperately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £1,321 (2022: £330).


11.


Transactions with directors

As at the balance sheet date the sum of £42,831 (2022: £364,602) was due to the director D Cizmeci.
The loan was unsecured, interest free and repayable on demand.                                                     

 
Page 9