Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true2023-03-30No description of principal activityfalse3falsefalse 14769265 2023-03-29 14769265 2023-03-30 2023-12-31 14769265 2022-03-30 2023-03-29 14769265 2023-12-31 14769265 c:Director1 2023-03-30 2023-12-31 14769265 d:FurnitureFittings 2023-03-30 2023-12-31 14769265 d:OfficeEquipment 2023-03-30 2023-12-31 14769265 d:OfficeEquipment 2023-12-31 14769265 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-03-30 2023-12-31 14769265 d:CurrentFinancialInstruments 2023-12-31 14769265 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 14769265 d:ShareCapital 2023-12-31 14769265 d:RetainedEarningsAccumulatedLosses 2023-12-31 14769265 c:OrdinaryShareClass1 2023-03-30 2023-12-31 14769265 c:OrdinaryShareClass1 2023-12-31 14769265 c:FRS102 2023-03-30 2023-12-31 14769265 c:AuditExempt-NoAccountantsReport 2023-03-30 2023-12-31 14769265 c:FullAccounts 2023-03-30 2023-12-31 14769265 c:PrivateLimitedCompanyLtd 2023-03-30 2023-12-31 14769265 2 2023-03-30 2023-12-31 14769265 e:PoundSterling 2023-03-30 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 14769265














STRATEGIC ALTERNATIVE FUNDS GROUP (UK), LTD
UNAUDITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

 
STRATEGIC ALTERNATIVE FUNDS GROUP (UK), LTD
 

CONTENTS



Page
Statement of Financial Position
 
1
Notes to the Financial Statements
 
2 - 5


 
STRATEGIC ALTERNATIVE FUNDS GROUP (UK), LTD
REGISTERED NUMBER:14769265

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
Note
£

Fixed assets
  

Tangible assets
 4 
1,972

  
1,972

Current assets
  

Debtors: amounts falling due within one year
 5 
1,947

Cash at bank and in hand
  
176,693

Current liabilities
  
178,640

Creditors: amounts falling due within one year
 6 
(279,065)

Net current (liabilities)/assets
  
 
 
(100,425)

  

Net (liabilities)/assets
  
(98,453)


Capital and reserves
  

Called up share capital 
  
1

Profit and loss account
  
(98,454)

  
(98,453)


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 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 6 January 2025.




R H Farooqui
Director

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

Page 1

 
STRATEGIC ALTERNATIVE FUNDS GROUP (UK), LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

Strategic Alternative Funds Group (UK) Ltd is a limited liability company registered in England and Wales. Its registered office address is at Flat 3, 3 Upper Belgrave Street, London, United Kingdom SW1X 8BD.
The Company was incorporated and started trading on 30 March 2023.
The principal activity of the Company during the period was that of a financial software provider.
The financial statements are presented in £ sterling, which is the functional currency of the 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 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.

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.

 
2.3

Interest income

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

Page 2

 
STRATEGIC ALTERNATIVE FUNDS GROUP (UK), LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
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 reporting date in the countries where the Company operates and generates income.

 
2.6

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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

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
-
20%
Office equipment
-
20%

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.

 
2.7

Basic financial instruments

The Company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand, loans to related parties. 
Trade debtors, other debtors and loans to related parties are recognised initially at the transaction
Page 3

 
STRATEGIC ALTERNATIVE FUNDS GROUP (UK), LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.7
Basic financial instruments (continued)

price less attributable transaction costs. Trade creditors, other creditors and loans from related parties are recognised initially at transaction price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors, and loans to related parties. 
Interest bearing borrowings, such bank loans, classified as basic financial instruments are recognised initially at the present value of future payments discounted at a market rate of interest. Thereafter they are stated at amortised cost using the effective interest method. 
Cash and cash equivalents comprise cash balances and call deposits. 


3.


Employees

The average monthly number of employees, including directors, during the Period was 3.


4.


Tangible fixed assets





Office equipment

£



Cost or valuation


Additions
2,113



At 31 December 2023

2,113



Depreciation


Charge for the Period on owned assets
141



At 31 December 2023

141



Net book value



At 31 December 2023
1,972


5.


Debtors

2023
£


Other debtors
1,835

Prepayments and accrued income
112

1,947


Page 4

 
STRATEGIC ALTERNATIVE FUNDS GROUP (UK), LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

6.


Creditors: Amounts falling due within one year

2023
£

Bank overdrafts
95

Trade creditors
396

Amounts owed to group undertakings
264,241

Other taxation and social security
7,506

Other creditors
3,497

Accruals and deferred income
3,330

279,065



7.


Share capital

2023
£
Allotted, called up and fully paid


1 Ordinary share of £1.00
1


Upon incorporation, 1 Ordinary share was issued at a nominal value of £1.


8.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately 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 £1,357. Contributions totalling £359 were payable to the fund at the reporting date and are included in creditors.


9.


Related party transactions

The Company forms part of a wholly-owned group and accordingly has taken advantage of the exemption allowed under section 33.1A of FRS 102 not to disclose transactions with other group companies.

 
Page 5