Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31truefalse2023-03-250false1trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14757068 2023-03-24 14757068 2023-03-25 2024-03-31 14757068 2022-03-25 2023-03-24 14757068 2024-03-31 14757068 c:Director1 2023-03-25 2024-03-31 14757068 c:Director1 2024-03-31 14757068 c:RegisteredOffice 2023-03-25 2024-03-31 14757068 d:CurrentFinancialInstruments 2024-03-31 14757068 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 14757068 d:ShareCapital 2024-03-31 14757068 d:RetainedEarningsAccumulatedLosses 2024-03-31 14757068 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-03-31 14757068 c:OrdinaryShareClass1 2023-03-25 2024-03-31 14757068 c:OrdinaryShareClass1 2024-03-31 14757068 c:FRS102 2023-03-25 2024-03-31 14757068 c:AuditExempt-NoAccountantsReport 2023-03-25 2024-03-31 14757068 c:FullAccounts 2023-03-25 2024-03-31 14757068 c:PrivateLimitedCompanyLtd 2023-03-25 2024-03-31 14757068 e:PoundSterling 2023-03-25 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 14757068









KARMAN VENTURES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2024

 
KARMAN VENTURES LIMITED
 
 
COMPANY INFORMATION


Director
D A Clark (appointed 25 March 2023)




Registered number
14757068



Registered office
Eighth Floor

6 New Street Square

New Fetter Lane

London

EC4A 3AQ




Accountants
Rawlinson & Hunter LLP
Chartered Accountants

Eighth Floor

6 New Street Square

New Fetter Lane

London

EC4A 3AQ





 
KARMAN VENTURES LIMITED
 

CONTENTS



Page
Balance Sheet
 
1
Notes to the Financial Statements
 
2 - 5


 
KARMAN VENTURES LIMITED
REGISTERED NUMBER: 14757068

BALANCE SHEET
AS AT 31 MARCH 2024

2024
Note
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
100,278

Cash at bank and in hand
 5 
78,012

  
178,290

Creditors: amounts falling due within one year
 6 
(107,839)

Net current assets
  
 
 
70,451

Total assets less current liabilities
  
70,451

  

Net assets
  
70,451


Capital and reserves
  

Called up share capital 
 8 
100

Profit and loss account
  
70,351

  
70,451


The director considers 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 period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his 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 profit and loss account 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: 


D A Clark
Director

Date: 27 November 2024

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
KARMAN VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

Karman Ventures Limited is a private company, limited by shares, incorporated in England and Wales with registration number of 14757068. The registered office is Eighth Floor, 6 New Street Square, New Fetter Lane, London, EC4A 3AQ.

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 financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future.  The company expects the support of the sole director and shareholder who has confirmed that he will provide such financial support as is necessary for the company to meet its liabilities as they fall due and continue in operation for a period of at least twelve months from the date of signing of the financial statements of the company.

 
2.3

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 Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 2

 
KARMAN VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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.

 
2.6

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

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.

 
2.8

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 3

 
KARMAN VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

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.


3.


Employees




The average monthly number of employees, including directors, during the period was 1.


4.


Debtors

2024
£


Trade debtors
100,068

Other debtors
210

100,278



5.


Cash and cash equivalents

2024
£

Cash at bank and in hand
78,012



6.


Creditors: Amounts falling due within one year

2024
£

Trade creditors
1,860

Corporation tax
20,590

Other creditors
78,853

Accruals and deferred income
6,536

107,839


Page 4

 
KARMAN VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

7.


Financial instruments

2024
£

Financial assets


Financial assets measured at fair value through profit or loss
78,012




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


8.


Share capital

2024
£
Allotted, called up and fully paid


100 Ordinary shares of £1.00 each
100


On incorporation, 100 Ordinary shares were issued at a par value of £1.


9.


Related party transactions

Included within trade debtors (note 4), is an amount of £100,068 owed from Karman Ventures LLC which is related through common control and ownership. This amount is included in turnover and unsecured, interest free and repayable on demand.

 
Page 5