Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-302023-07-01falseprovide short term royalty financing1611falsetruefalse 09073214 2023-07-01 2024-06-30 09073214 2022-07-01 2023-06-30 09073214 2024-06-30 09073214 2023-06-30 09073214 c:Director1 2023-07-01 2024-06-30 09073214 d:OfficeEquipment 2023-07-01 2024-06-30 09073214 d:OfficeEquipment 2024-06-30 09073214 d:OfficeEquipment 2023-06-30 09073214 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 09073214 d:CurrentFinancialInstruments 2024-06-30 09073214 d:CurrentFinancialInstruments 2023-06-30 09073214 d:Non-currentFinancialInstruments 2024-06-30 09073214 d:Non-currentFinancialInstruments 2023-06-30 09073214 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 09073214 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 09073214 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 09073214 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 09073214 d:ShareCapital 2024-06-30 09073214 d:ShareCapital 2023-06-30 09073214 d:RetainedEarningsAccumulatedLosses 2024-06-30 09073214 d:RetainedEarningsAccumulatedLosses 2023-06-30 09073214 c:OrdinaryShareClass1 2023-07-01 2024-06-30 09073214 c:OrdinaryShareClass1 2024-06-30 09073214 c:OrdinaryShareClass1 2023-06-30 09073214 c:FRS102 2023-07-01 2024-06-30 09073214 c:Audited 2023-07-01 2024-06-30 09073214 c:FullAccounts 2023-07-01 2024-06-30 09073214 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 09073214 d:WithinOneYear 2024-06-30 09073214 d:WithinOneYear 2023-06-30 09073214 c:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 09073214 4 2023-07-01 2024-06-30 09073214 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 09073214












GOT CAPITAL LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

 
GOT CAPITAL LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1
Notes to the Financial Statements
 
2 - 7


 
GOT CAPITAL LIMITED
REGISTERED NUMBER:09073214

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible fixed assets
 4 
7,776
6,901

Current assets
  

Debtors: amounts falling due within one year
 5 
8,740,880
8,329,850

Cash at bank and in hand
  
2,399,322
298,887

  
11,140,202
8,628,737

Current Liabilities
  

Creditors: amounts falling due within one year
 6 
(1,402,303)
(936,052)

Net current assets
  
 
 
9,737,899
 
 
7,692,685

Total assets less current liabilities
  
9,745,675
7,699,586

Creditors: amounts falling due after more than one year
 7 
(5,369,416)
(5,000,000)

  

Net assets
  
4,376,259
2,699,586


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
4,376,159
2,699,486

  
4,376,259
2,699,586


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 21 January 2025.




B A Afek
Director

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 
GOT CAPITAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Got Capital Limited is a private limited liability company registered in England and Wales with its business address at Aldgate Tower, 2 Leman Street, London, E1 8FA and its registered office at 5 Elstree Way, Elstree Gate, Borehamwood, Hertfordshire, WD6 1JD.
The principal activity of the company is to provide short-term royalty financing.

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 £ Sterling.

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

The Company's revenue is derived from purchasing future income streams at a discount. Revenue represents the difference between the cost of acquiring these future income streams and amounts collected.  The Company recognises revenue on the basis of the average period of collection on a basis consistent with the amortisation of debtor balances.

 
2.4

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. The company is exposed to the Sterling Overnight Index Average (SONIA) interest rate benchmark in respect of the  revolving bank facility in place. The company closely monitors the market and impact of interest rate fluctuations to assess any potential risk to the company’s financial stability.

Page 2

 
GOT CAPITAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.5

Borrowing costs

All borrowing costs are amortised in the Statement of Comprehensive Income over the term of the loan.

 
2.6

Pensions

Defined contribution pension plan
The Company contributes to defined contribution plans 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.

 
2.7

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.

 
2.8

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.

 
2.9

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:

Office equipment
-
33%
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.

Page 3

 
GOT CAPITAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.10

Debtors

Debtors derived from the acquisition of future income streams are recorded on an amortised cost basis because the return is considered to be linked to a fixed rate of return. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.
Other debtors are measured at the transaction price.

 
2.11

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.

 
2.12

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.

 
2.13

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like future income streams receivable and other debtors and creditors, loans from banks and amounts owed to and from related parties.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid.


3.


Employees

The average monthly number of employees, including directors, during the year was 16 (2023 - 11).

Page 4

 
GOT CAPITAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





Office equipment

£



Cost


At 1 July 2023
18,068


Additions
5,654



At 30 June 2024

23,722



Depreciation


At 1 July 2023
11,167


Charge for the year on owned assets
4,779



At 30 June 2024

15,946



Net book value



At 30 June 2024
7,776



At 30 June 2023
6,901


5.


Debtors

2024
2023
£
£

Trade debtors
8,574,018
8,261,683

Other debtors
67,513
68,167

Prepayments and accrued income
99,349
-

8,740,880
8,329,850


Page 5

 
GOT CAPITAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

CBIL bank loan
34,091
238,636

Trade creditors
283,685
296,352

Taxation and social security
667,707
208,012

Other creditors
117,251
49,470

Accruals and deferred income
299,569
143,582

1,402,303
936,052


The Coronavirus Business Interruption Loan (CBIL) bears a fixed rate of interest of 5.28% and is expected to be fully repaid in the 2024-25 accounting year. 


7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Revolving bank loan facility
5,369,416
5,000,000


The revolving bank loan facility is secured by fixed and floating charges over the company's assets.


8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



9.


Commitments under operating leases

At 30 June 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£



Not later than 1 year
11,307
-


10.


Transactions with directors

At the year end, the Company was owed £8,732 (2022 - £9,872) by the director of the Company.  

Page 6

 
GOT CAPITAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

11.


Auditors' information

The auditors' report on the financial statements for the year ended 30 June 2024 was unqualified.

The audit report was signed on 21 January 2025 by Stephen Iseman FCA (Senior Statutory Auditor) on behalf of Sopher + Co LLP.

Page 7