Caseware UK (AP4) 2024.0.164 2024.0.164 2024-03-312024-03-31falsefalse22023-04-01No description of principal activity2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13553131 2023-04-01 2024-03-31 13553131 2022-04-01 2023-03-31 13553131 2024-03-31 13553131 2023-03-31 13553131 c:Director3 2023-04-01 2024-03-31 13553131 d:CurrentFinancialInstruments 2024-03-31 13553131 d:CurrentFinancialInstruments 2023-03-31 13553131 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 13553131 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 13553131 d:ShareCapital 2024-03-31 13553131 d:ShareCapital 2023-03-31 13553131 d:RetainedEarningsAccumulatedLosses 2024-03-31 13553131 d:RetainedEarningsAccumulatedLosses 2023-03-31 13553131 c:FRS102 2023-04-01 2024-03-31 13553131 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 13553131 c:FullAccounts 2023-04-01 2024-03-31 13553131 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13553131 6 2023-04-01 2024-03-31 13553131 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 13553131









CXL FUNDING UK LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
CXL FUNDING UK LTD
REGISTERED NUMBER: 13553131

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
315,459
49,987

Current asset investments
 5 
893,944
3,254,195

Cash at bank and in hand
 6 
298,772
6,170

  
1,508,175
3,310,352

Creditors: amounts falling due within one year
 7 
(3,446,472)
(5,021,041)

Net current liabilities
  
 
 
(1,938,297)
 
 
(1,710,689)

Total assets less current liabilities
  
(1,938,297)
(1,710,689)

  

Net liabilities
  
(1,938,297)
(1,710,689)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(1,938,298)
(1,710,690)

  
(1,938,297)
(1,710,689)


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 income and retained earnings 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 2 June 2025.


D I Lane
Director

The notes on pages 3 to 5 form part of these financial statements.
Page 1

 
CXL FUNDING UK LTD
REGISTERED NUMBER: 13553131
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024


Page 2

 
CXL FUNDING UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

CXL Funding UK Limited is a private company, limited by shares and registered in England & Wales. The address of its registered office is 45 Monmouth Street, London, WC2H 9DG.

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

Going concern

At the reporting date the company had net liabilities of £1,938,297 and is dependent on the support of its parent undertaking which has provided recoupable but non returnable funding to support the company's activities. As a result the directors consider it appropriate to prepare the company's financial statements on the 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 income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

Revenue

Revenue comprises the company's share of profits receivable from its investments in theatrical productions and is recognised in the period in which the profits have arisen.

Page 3

 
CXL FUNDING UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Investments in productions

IInvestments in theatrical productions are recognised at the recoupable amount at the reporting date being the amount invested less amounts recovered, plus anticipated profits and after making provision for losses where recovery of outstanding investments in full is not anticipated.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

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.

 
2.8

Creditors

Short term creditors are measured at the transaction price, less any impairment.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Debtors

2024
2023
£
£


Other debtors
315,459
49,987

315,459
49,987



5.


Current asset investments

2024
2023
£
£

Theatre productions
893,944
3,254,195

893,944
3,254,195


Page 4

 
CXL FUNDING UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
298,772
6,170

298,772
6,170



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
3,439,272
5,013,841

Accruals and deferred income
7,200
7,200

3,446,472
5,021,041



8.


Related party transactions

At the reporting date debtors include £315,459 due from a company which has common directors.


9.


Controlling party

Throughout the period the company's parent undertaking was CXL Funding LLC, a company incorporated in the United States. There is no ultimate controlling party.

 
Page 5