Caseware UK (AP4) 2023.0.135 2023.0.135 falsetrueNo description of principal activity2023-04-01false38trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11691093 2023-04-01 2024-03-30 11691093 2022-04-01 2023-03-31 11691093 2024-03-30 11691093 2023-03-31 11691093 2022-04-01 11691093 c:PriorPeriodIncreaseDecrease 2023-04-01 2024-03-30 11691093 d:Director4 2023-04-01 2024-03-30 11691093 c:CurrentFinancialInstruments 2024-03-30 11691093 c:CurrentFinancialInstruments 2023-03-31 11691093 c:Non-currentFinancialInstruments 2024-03-30 11691093 c:Non-currentFinancialInstruments 2023-03-31 11691093 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-30 11691093 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 11691093 c:Non-currentFinancialInstruments c:AfterOneYear 2024-03-30 11691093 c:Non-currentFinancialInstruments c:AfterOneYear 2023-03-31 11691093 c:ShareCapital 2023-04-01 2024-03-30 11691093 c:ShareCapital 2024-03-30 11691093 c:ShareCapital 2022-04-01 2023-03-31 11691093 c:ShareCapital 2023-03-31 11691093 c:ShareCapital 2022-04-01 11691093 c:SharePremium 2023-04-01 2024-03-30 11691093 c:SharePremium 2024-03-30 11691093 c:SharePremium 2022-04-01 2023-03-31 11691093 c:SharePremium 2023-03-31 11691093 c:SharePremium 2022-04-01 11691093 c:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-30 11691093 c:RetainedEarningsAccumulatedLosses 2024-03-30 11691093 c:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 11691093 c:RetainedEarningsAccumulatedLosses 2023-03-31 11691093 c:RetainedEarningsAccumulatedLosses 2022-04-01 11691093 d:OrdinaryShareClass1 2023-04-01 2024-03-30 11691093 d:OrdinaryShareClass1 2024-03-30 11691093 d:OrdinaryShareClass1 2023-03-31 11691093 d:FRS102 2023-04-01 2024-03-30 11691093 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-30 11691093 d:FullAccounts 2023-04-01 2024-03-30 11691093 d:PrivateLimitedCompanyLtd 2023-04-01 2024-03-30 11691093 6 2023-04-01 2024-03-30 11691093 e:PoundSterling 2023-04-01 2024-03-30 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 11691093








 
Five Islands Capital Limited
Unaudited
Financial statements
Information for filing with the registrar
For the Period Ended 30 March 2024







Fletcher & Partners
Chartered Accountants
Salisbury

 
Five Islands Capital Limited
Registered number: 11691093

Balance Sheet
As at 30 March 2024

30 March
31 March
2024
2023 restated
Note
£
£

Fixed assets
  

Investments
 5 
261,079
265,646

  
261,079
265,646

Current assets
  

Debtors: amounts falling due within one year
 6 
29,216
270,469

Cash at bank and in hand
 7 
-
11,298

  
29,216
281,767

Creditors: amounts falling due within one year
 8 
(149,734)
(778,890)

Net current liabilities
  
 
 
(120,518)
 
 
(497,123)

Total assets less current liabilities
  
140,561
(231,477)

Creditors: amounts falling due after more than one year
 9 
-
(557,500)

  

Net assets/(liabilities)
  
140,561
(788,977)


Capital and reserves
  

Called up share capital 
 10 
1,158
1,158

Share premium account
  
1,599,847
1,599,847

Profit and loss account
  
(1,460,444)
(2,389,982)

  
140,561
(788,977)


Page 1

 
Five Islands Capital Limited
Registered number: 11691093

Balance Sheet (continued)
As at 30 March 2024

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 period 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 by: 




A Lubin
Director

Date: 28 March 2025

The notes on pages 4 to 7 form part of these financial statements.

Page 2
 

 
Five Islands Capital Limited


 

Statement of Changes in Equity
For the Period Ended 30 March 2024



Called up share capital
Share premium account
Profit and loss account
Total equity


£
£
£
£



At 1 April 2022
1,199
1,599,847
(758,993)
842,053



Comprehensive income for the year


Loss for the year
-
-
(1,630,989)
(1,630,989)

Total comprehensive income for the year
-
-
(1,630,989)
(1,630,989)



Contributions by and distributions to owners


Shares issued during the year
263
-
-
263


Shares cancelled during the year
(304)
-
-
(304)



Total transactions with owners
(41)
-
-
(41)





At 1 April 2023 restated
1,158
1,599,847
(2,389,982)
(788,977)



Comprehensive income for the period


Profit for the period
-
-
929,538
929,538

Total comprehensive income for the period
-
-
929,538
929,538



Total transactions with owners
-
-
-
-



At 30 March 2024
1,158
1,599,847
(1,460,444)
140,561



The notes on pages 4 to 7 form part of these financial statements.

Page 3
 
Five Islands Capital Limited
 

 
Notes to the Financial Statements
For the Period Ended 30 March 2024

1.


General information

Five Islands Capital Limited is a private company limited by shares, incorporated in England and Wales with the registered number 11691093. Its registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ.

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

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.


 
2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

  
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
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.


3.


Directors' indemnity insurance

During the period 1 April 2023 to 30 March 2024 the Company did not have third party indemnity insurance in force for the benefit of the directors.

Page 4

 
Five Islands Capital Limited
 

 
Notes to the Financial Statements
For the Period Ended 30 March 2024

4.


Employees

The average monthly number of employees, including directors, during the period was 3 (2023 - 8).


5.


Fixed asset investments








Investments in subsidiary companies

£



Cost 


At 1 April 2023
265,646


Disposals
(4,567)



At 30 March 2024
261,079




Five Islands Capital Limited held 100% of the ordinary share capital of Pinnaclepay Group Limited, 5I Digital D.O.O. Fiveiq Limited, Blockthree Europe D.O.O. and Blockthree Technologies Limited. Pinnaclepay Group Limited registered office is Unit B1 Hercules Office Park, Bird Hall Lane, Cheadle, Greater Manchester, SK3 0OX. 5I Digital D.O.O. and Blockthree Europe D.O.O. registered office is Radnicka cesta 48 10000, Zagreb, Grad Zagreb, Croatia. Fiveiq Limited registered office is FD Ground Floor, Accelerator Building, Masdar City Services, Masdar City, PO Box 54115, Abu Dhabi, United Arab Emirates. 5I Digital D.O.O. was sold during the period to the director A Lubin.  Five Islands and its remaining subsidaries were sold to Mr A Lubin on 30 March 2024.


6.


Debtors

30 March
31 March
2024
2023 restated
£
£


Amounts owed by group undertakings
12,129
247,816

Other debtors
17,087
22,653

29,216
270,469



7.


Cash and cash equivalents

30 March
31 March
2024
2023 restated
£
£

Cash at bank and in hand
-
11,298

-
11,298


Page 5

 
Five Islands Capital Limited
 

 
Notes to the Financial Statements
For the Period Ended 30 March 2024

8.


Creditors: Amounts falling due within one year

30 March
31 March
2024
2023 restated
£
£

Trade creditors
-
17,790

Amounts owed to group undertakings
149,734
754,395

Other taxation and social security
-
62

Other creditors
-
457

Accruals and deferred income
-
6,186

149,734
778,890



9.


Creditors: Amounts falling due after more than one year

30 March
31 March
2024
2023 restated
£
£

Other creditors
-
557,500

-
557,500



10.


Share capital

30 March
31 March
2024
2023 restated
£
£
Authorised, allotted, called up and fully paid



1,157,530 (2023 - 1,157,530) Ordinary A shares of £0.001 each
1,158
1,158



11.


Prior year adjustment

The comparative figures for 31 March 2023 have been restated to incorporate the administration charges paid to Pinnaclepay Group Limited. 
Summary of the prior year accounting impact:         £
Administration fees paid - increase in loss by        69,609
Increase in other creditors                                      69,609     

Page 6

 
Five Islands Capital Limited
 

 
Notes to the Financial Statements
For the Period Ended 30 March 2024

12.


Related party transactions

Five Islands, Pinnaclepay Group Ltd and Five IQ LLC were sold to the director Mr A Lubin on 30 March 2024 and the holdings in Blockthree Europe Limited and Blockthree Technologies Ltd was transferred to Blockthree Holdings Limited at that date for £nil.
£Nil (2023:£8,207) travelling expenses was paid to four directors during the year.
£4,250 was paid to a non-executive director during the year.
No commission was paid to a connected party during the year.
At the start and end of the year a loan to a subsidiary company, Blockthree Europe D.O.O. of £240,000 was outstanding. The loan was novated and transferred to Blockthree Holdings Limited and re-negotiated in the period.

Also included in debtors at 30 March 2024 are amounts due from subsidiary companies: Blockthree Europe D.O.O £2,673, Blockthree Technologies Limited £198, Five IQ LLC £2,865, Five Islands Investment D.O.O £6,393.
Five Islands Capital Limited owes its subisidiary Pinnaclepay Group Limited £149,733 as at 30 March 2024.
An intercompany loan between Five Islands Capital limited and Blockthree Holdings Limited, totalling £1,553,681 was released during the year.  This is not taxable on Five Islands Capital Limited.
The address of Blockthree Holdings Limited is also 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ.
The controlling party at the end of the year was Mr AC Lubin.


Page 7