Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30true2023-05-01false22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11928199 2023-05-01 2024-04-30 11928199 2022-05-01 2023-04-30 11928199 2024-04-30 11928199 2023-04-30 11928199 2022-05-01 11928199 c:Director1 2023-05-01 2024-04-30 11928199 d:CurrentFinancialInstruments 2024-04-30 11928199 d:CurrentFinancialInstruments 2023-04-30 11928199 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 11928199 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 11928199 d:ShareCapital 2023-05-01 2024-04-30 11928199 d:ShareCapital 2024-04-30 11928199 d:ShareCapital 2022-05-01 2023-04-30 11928199 d:ShareCapital 2023-04-30 11928199 d:ShareCapital 2022-05-01 11928199 d:RetainedEarningsAccumulatedLosses 2023-05-01 2024-04-30 11928199 d:RetainedEarningsAccumulatedLosses 2024-04-30 11928199 d:RetainedEarningsAccumulatedLosses 2022-05-01 2023-04-30 11928199 d:RetainedEarningsAccumulatedLosses 2023-04-30 11928199 d:RetainedEarningsAccumulatedLosses 2022-05-01 11928199 c:OrdinaryShareClass1 2023-05-01 2024-04-30 11928199 c:OrdinaryShareClass1 2024-04-30 11928199 c:OrdinaryShareClass1 2023-04-30 11928199 c:FRS102 2023-05-01 2024-04-30 11928199 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 11928199 c:FullAccounts 2023-05-01 2024-04-30 11928199 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 11928199 e:PoundSterling 2023-05-01 2024-04-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11928199









ARIES INVESTMENTS TWO LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
ARIES INVESTMENTS TWO LIMITED
REGISTERED NUMBER: 11928199

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
As restated
Note
£
£

Fixed assets
  

Investments
 3 
5,240,238
5,264,093

  
5,240,238
5,264,093

Current assets
  

Debtors: amounts falling due within one year
 4 
2,234,817
1,883,653

Cash at bank and in hand
 5 
10,169
615,830

  
2,244,986
2,499,483

Creditors: amounts falling due within one year
 6 
(326,161)
(318,412)

Net current assets
  
 
 
1,918,825
 
 
2,181,071

Total assets less current liabilities
  
7,159,063
7,445,164

  

Net assets
  
7,159,063
7,445,164


Capital and reserves
  

Called up share capital 
 7 
101
101

Profit and loss account
 8 
7,158,962
7,445,063

  
7,159,063
7,445,164


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 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 29 January 2025.


Page 1

 
ARIES INVESTMENTS TWO LIMITED
REGISTERED NUMBER: 11928199
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024



Karl Gannon
Director

The notes on pages 4 to 8 form part of these financial statements.

Page 2

 
ARIES INVESTMENTS TWO LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 May 2022 (As restated)
101
8,614,799
8,614,900


Comprehensive income for the year

Loss for the year (As restated)
-
(419,736)
(419,736)
Total comprehensive income for the year
-
(419,736)
(419,736)


Contributions by and distributions to owners

Dividends: Equity capital
-
(750,000)
(750,000)



At 1 May 2023
101
7,445,063
7,445,164


Comprehensive income for the year

Loss for the year
-
(36,101)
(36,101)
Total comprehensive income for the year
-
(36,101)
(36,101)


Contributions by and distributions to owners

Dividends: Equity capital
-
(250,000)
(250,000)


At 30 April 2024
101
7,158,962
7,159,063


The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
ARIES INVESTMENTS TWO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Aries Investments Two Limited is a company limited by shares, domiciled and incorporated in England and Wales, company number 11928199. The registered office is The Pinnacle, 160 Midsummer Boulevard, Milton Keynes, MK9 1FF.
The principal activity during the year was that of a holding company.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Company is deemed to be a going concern and therefore the financial statements have been prepared on a going concern basis.

 
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 Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 4

 
ARIES INVESTMENTS TWO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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.

 
2.7

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.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

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.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
 
Page 5

 
ARIES INVESTMENTS TWO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.7
Financial instruments (continued)


Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Fixed asset investments





Investments in subsidiary companies (As restated)

£



Cost or valuation


At 1 May 2023
5,264,093


Revaluations
(23,855)



At 30 April 2024
5,240,238




Page 6

 
ARIES INVESTMENTS TWO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Debtors

2024
2023
As restated
£
£


Amounts owed by group undertakings
2,234,817
1,883,653



5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
10,169
615,830



6.


Creditors: Amounts falling due within one year

2024
2023
As restated
£
£

Trade creditors
2,400
-

Other creditors
314,280
310,714

Accruals and deferred income
9,481
7,698

326,161
318,412



7.


Share capital

2024
2023
£
£
Allotted and called up and fully paid



101 (2023 - 101) Ordinary shares of £1.00 each
101
101


Page 7

 
ARIES INVESTMENTS TWO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

8.


Reserves

Profit and loss account

The profit and loss account represents the cumulative profits and losses of the company.


9.


Prior year adjustment

A prior year adjustment has been posted in relation to the year ending 30 April 2023 to reflect the differences arising from the use of a revised exchange rate.
The overall cumulative impact to the profit and loss reserve is a reduction of £2,567,962.


10.


Related party transactions

At the year end, the company was owed £2,234,817 (2023: £1,883,653) by one of its subsidiaries KNG Capital. 

 
Page 8