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Registered number: 14797050












JUPITERONE INTERNATIONAL LTD
FINANCIAL STATEMENTS
FOR THE 10-MONTH PERIOD ENDED 31 JANUARY 2024

 

JUPITERONE INTERNATIONAL LTD

CONTENTS



Page
Company information
 
1
Balance sheet
 
2
Statement of changes in equity
 
3
Notes to the financial statements
 
4 - 9


 

JUPITERONE INTERNATIONAL LTD
 
COMPANY INFORMATION


Directors
E Zheng 
P S Forte 
B T Mayo 




Company secretary
Taylor Wessing Secretaries Limited



Registered number
14797050



Registered office
5 New Street Square

London

EC4A 3TW




Independent auditor
Blick Rothenberg Audit LLP
Chartered Accountants & Statutory Auditor

16 Great Queen Street

Covent Garden

London

WC2B 5AH




Page 1


 
REGISTERED NUMBER:14797050
JUPITERONE INTERNATIONAL LTD

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
Note
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
50,455

Cash at bank and in hand
  
43,290

  
93,745

Creditors: amounts falling due within one year
 5 
(78,542)

Net current assets
  
 
 
15,203

  

Net assets
  
15,203


Capital and reserves
  

Called up share capital 
 6 
1,000

Share-based payment reserve
  
13,323

Profit and loss account
  
880

Total equity
  
15,203


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 profit and loss account and directors' report have not been filed.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




B T Mayo
Director

Date: 30 January 2025

The notes on pages 4 to 9 form part of these financial statements.

Page 2

 

JUPITERONE INTERNATIONAL LTD

STATEMENT OF CHANGES IN EQUITY
FOR THE 10-MONTH PERIOD ENDED 31 JANUARY 2024


Called up share capital
Share-based payment reserve
Profit and loss account
Total equity

£
£
£
£

At 12 April 2023
-
-
-
-



Profit for the period
-
-
880
880

Shares issued during the 10-month period
1,000
-
-
1,000

Share-based payment expense
-
13,323
-
13,323


At 31 January 2024
1,000
13,323
880
15,203

Page 3

 

JUPITERONE INTERNATIONAL LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE 10-MONTH PERIOD ENDED 31 JANUARY 2024

1.


General information

JupiterOne International Ltd is a private company limited by shares incorporated in England and Wales. The address of its registered office is 5 New Street Square, London, EC4A 3TW.
The company was incorporated on 12 April 2023 and commenced trade on 1 January 2024. These financial statements are in respect of the short period from 12 April 2023 to 31 January 2024.
The financial statements are presented 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 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.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company has received a letter of financial support from its parent undertaking and the directors have considered post year end trading and cash reserves of the group and company. As a result, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

  
2.3

Revenue

Revenue from contracts to provide sales and marketing services to the parent company is recognised in the period in which the services are provided. Revenue is recognised to the extent that it is probable that the company will receive the consideration due under the contract and the amount of revenue can be recognised reliably. Revenue is measured as the fair value of the consideration received or receivable.

 
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 balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Page 4

 

JUPITERONE INTERNATIONAL LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE 10-MONTH PERIOD ENDED 31 JANUARY 2024

2.Accounting policies (continued)


2.5

Financial instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. 
 
The company’s policies for its major classes of financial assets and financial liabilities are set out below. 

Financial assets
Basic financial assets, including other debtors, cash and bank balances, and intercompany working capital balances are initially recognised at transaction price, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Financial liabilities

Basic financial liabilities, including other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. 

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Page 5

 

JUPITERONE INTERNATIONAL LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE 10-MONTH PERIOD ENDED 31 JANUARY 2024

2.Accounting policies (continued)




Financial instruments (continued)


Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.

 
2.6

Share-based payments

Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each balance sheet date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition.
The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the company keeping the scheme open or the employee maintaining any contributions required by the scheme).
Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period.
Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.

 
2.7

Cash at bank and in hand

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

  
2.8

Share capital

Ordinary shares are classified as equity.

Page 6

 

JUPITERONE INTERNATIONAL LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE 10-MONTH PERIOD ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.9

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

 
2.10

Current and deferred tax

The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years.
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.

Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
 
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees



The average monthly number of employees, including directors, during the 10-month period was 3.

Page 7

 

JUPITERONE INTERNATIONAL LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE 10-MONTH PERIOD ENDED 31 JANUARY 2024

4.


Debtors

2024
£


Amounts owed by group undertakings
47,726

Other debtors
2,729

50,455


Amounts owed by group undertakings are interest free, have no fixed repayment date and are repayable on demand.


5.


Creditors: amounts falling due within one year

2024
£

Corporation tax
5,072

Other creditors
9,084

Accruals
64,386

78,542



6.


Share capital

2024
£
Allotted, called up and fully paid


1,000 Ordinary shares of £1.00 each
1,000


Upon incorporation the company issued 1,000 ordinary shares of £1.00 each at par in order to establish the capital structure.


7.


Controlling party

The parent undertaking is JupiterOne, Inc., a company registered in United States of America.  
The smallest and largest group in which the results of the company are consolidated is that headed by JupiterOne Inc, incorporated in USA. The registered office address is 2701 Aerial Center, PKWY, Suite 120 Morrisville, NC 27560, United States of America. The consolidated accounts of this group are not available to the public.

Page 8

 

JUPITERONE INTERNATIONAL LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE 10-MONTH PERIOD ENDED 31 JANUARY 2024

8.


Auditor's information

The auditor's report on the financial statements for the 10-month period ended 31 January 2024 was unqualified.

The audit report was signed on 31 January 2025 by Nicholas Anderson (senior statutory auditor) on behalf of Blick Rothenberg Audit LLP.

 
Page 9