Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-312025-05-152025-05-15false2024-01-01falsePrincipally engaged in providing flexible funding to entrepreneurs and growing businesses in the speciality finance sector.1815truetrue 10483974 2024-01-01 2024-12-31 10483974 2023-01-01 2023-12-31 10483974 2024-12-31 10483974 2023-12-31 10483974 c:CompanySecretary1 2024-01-01 2024-12-31 10483974 c:Director1 2024-01-01 2024-12-31 10483974 c:Director2 2024-01-01 2024-12-31 10483974 c:Director3 2024-01-01 2024-12-31 10483974 c:Director4 2024-01-01 2024-12-31 10483974 c:RegisteredOffice 2024-01-01 2024-12-31 10483974 d:Buildings d:LongLeaseholdAssets 2024-01-01 2024-12-31 10483974 d:Buildings d:LongLeaseholdAssets 2024-12-31 10483974 d:Buildings d:LongLeaseholdAssets 2023-12-31 10483974 d:OfficeEquipment 2024-01-01 2024-12-31 10483974 d:OfficeEquipment 2024-12-31 10483974 d:OfficeEquipment 2023-12-31 10483974 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 10483974 d:ComputerEquipment 2024-01-01 2024-12-31 10483974 d:ComputerEquipment 2024-12-31 10483974 d:ComputerEquipment 2023-12-31 10483974 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 10483974 d:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 10483974 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 10483974 d:CurrentFinancialInstruments 2024-12-31 10483974 d:CurrentFinancialInstruments 2023-12-31 10483974 d:Non-currentFinancialInstruments 2024-12-31 10483974 d:Non-currentFinancialInstruments 2023-12-31 10483974 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 10483974 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 10483974 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 10483974 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 10483974 d:ShareCapital 2024-12-31 10483974 d:ShareCapital 2023-12-31 10483974 d:RetainedEarningsAccumulatedLosses 2024-12-31 10483974 d:RetainedEarningsAccumulatedLosses 2023-12-31 10483974 c:OrdinaryShareClass1 2024-01-01 2024-12-31 10483974 c:OrdinaryShareClass1 2024-12-31 10483974 c:OrdinaryShareClass1 2023-12-31 10483974 c:FRS102 2024-01-01 2024-12-31 10483974 c:Audited 2024-01-01 2024-12-31 10483974 c:FullAccounts 2024-01-01 2024-12-31 10483974 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 10483974 c:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 10483974 e:PoundSterling 2024-01-01 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10483974









QUILAM CAPITAL LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
QUILAM CAPITAL LIMITED
 
 
COMPANY INFORMATION


Directors
M D Sefton 
K J McSweeney 
S Curtis 
Quilam Capital Holdings Limited 




Company secretary
RJP Secretaries Limited



Registered number
10483974



Registered office
Ground Floor
Egerton House

68 Baker Street

Weybridge

Surrey

KT13 8AL




Independent auditors
BKL Audit LLP
Chartered Accountants & Statutory Auditor

35 Ballards Lane

London

N3 1XW





 
QUILAM CAPITAL LIMITED
REGISTERED NUMBER: 10483974

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
81,246
42,711

  
81,246
42,711

Current assets
  

Debtors: amounts falling due after more than one year
 5 
9,494,185
27,714,635

Debtors: amounts falling due within one year
 5 
10,257,910
2,994,684

Cash at bank and in hand
  
418,611
982,643

  
20,170,706
31,691,962

Creditors: amounts falling due within one year
 6 
(7,808,141)
(5,450,668)

Net current assets
  
 
 
12,362,565
 
 
26,241,294

Total assets less current liabilities
  
12,443,811
26,284,005

Creditors: amounts falling due after more than one year
 7 
(9,709,989)
(23,673,077)

  

Net assets
  
2,733,822
2,610,928


Capital and reserves
  

Called up share capital 
 8 
1
1

Profit and loss account
  
2,733,821
2,610,927

  
2,733,822
2,610,928


Page 1

 
QUILAM CAPITAL LIMITED
REGISTERED NUMBER: 10483974
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024

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 by: 






K J McSweeney
Director

Date: 15 May 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
QUILAM CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Quilam Capital Limited (the 'Company'), a private company, limited by shares, is principally engaged in providing flexible funding to entrepreneurs and growing businesses in the speciality finance sector. 
Its principal place of business is Ground Floor, Egerton House, 68 Baker Street, Weybridge, Surrey, United Kingdom, KT13 8AL. The Company's registered number and registered address can be found on the Company Information page.

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 ('FRS 102'), the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 
2.2

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus, the directors adopt the going concern basis of accounting in preparing the financial statements, which the directors believe is appropriate based on the facts set out below. 
The directors of the Company have reviewed forecasts and budgets and are monitoring the portfolio of loans regularly as well as working closely with the portfolio companies to manage their cashflows and are therefore confident of the Company's ability to continue trading as a going concern.
The directors, having considered the above and made due enquiries, continue to adopt the going concern basis in preparing the financial statements which assumes that the Company will continue in operation for the foreseeable future.  

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue in respect of interest income and monitoring fees are recognised over the period to which they relate.

 
2.4

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.

Page 3

 
QUILAM CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

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
-
25%
Straight line
Computer equipment
-
25%
Straight line
Leasehold improvements
-
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.

 
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

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.

 
2.7

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.8

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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
QUILAM CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.10

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.



3.


Employees

The average monthly number of employees, including directors, during the year was 18 (2023 - 15).


4.


Tangible fixed assets





Long-term leasehold property
Office equipment
Computer equipment
Total

£
£
£
£



Cost 


At 1 January 2024
14,881
14,389
37,772
67,042


Additions
53,274
673
4,999
58,946



At 31 December 2024

68,155
15,062
42,771
125,988



Depreciation


At 1 January 2024
4,134
3,651
16,546
24,331


Charge for the year on owned assets
4,960
5,999
9,452
20,411



At 31 December 2024

9,094
9,650
25,998
44,742



Net book value



At 31 December 2024
59,061
5,412
16,773
81,246



At 31 December 2023
10,747
10,738
21,226
42,711

Page 5

 
QUILAM CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
9,415,829
27,661,835

Rent deposit
78,356
52,800

9,494,185
27,714,635


2024
2023
£
£

Due within one year

Amounts owed by group undertakings
314,412
37,428

Other debtors
9,661,975
2,331,377

Prepayments and accrued income
281,523
625,879

10,257,910
2,994,684


The amounts owed by group undertakings are unsecured, repayable on demand and are interest-free.


6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
-
1,747,706

Trade creditors
6,461
4,403

Amounts owed to group undertakings
7,239,046
2,481,377

Corporation tax
-
463,159

Other taxation and social security
74,663
61,063

Other creditors
9,759
8,122

Accruals and deferred income
478,212
684,838

7,808,141
5,450,668


The Company secured a credit facility with Hay Wain Group Limited which contained fixed and floating charges over all property or understakings of the Company.
Amounts owed to group undertakings are secured by way of a fixed and floating charge against all property and undertaking of the Company.

Page 6

 
QUILAM CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Amounts owed to group undertakings
9,709,989
23,673,077

9,709,989
23,673,077


Amounts owed to group undertakings are secured by way of a fixed and floating charge against all property and undertakings of the Company.


8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) Ordinary share of £1.00
1
1



9.


Capital commitments


At 31 December 2024 the Company had capital commitments as follows:

2024
2023
£
£


Contracted for but not provided in these financial statements
99,762
-

99,762
-

The capital commitment relates to the renovations on the new office building the entity moved into during 2025.


10.


Pension commitments

The  Company operates a  defined contributions pension scheme. The  assets of  the  scheme are  heldseparately from those of  the  Company in  an  independently administered fund. Contributions totalling  £9,759 (2023 £8,122) were payable to the fund at the reporting date and are included in creditors.

Page 7

 
QUILAM CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

11.


Related party transactions

Where possible the Company has taken advantage of the exemption conferred by FRS 102 section 33.1A from the requirement to disclose transactions with other wholly owned group undertakings.
Included in other debtors in Note 5 is an amount of  £14,360,669 (2023 £12,667,551) due from associated companies. Interest income from these associated companies included in income for the year is £4,578,608 (2023: £4,227,032).
Included in creditors in Note 6 is an amount of  £7,288,181 (2023 £2,803,041) due to associated companies.
Included in amounts owed to group in Note 7 is an amount of  £9,709,989 (2023 £23,673,077) due to associated companies. Interest expense paid to these associated companies included in cost of sales for the year is  £2,769,886 (2023 £2,570,167).


12.


Controlling party

The Company is a subsidiary undertaking of Quilam Capital Holdings Limited.  
The registered office and principal place of business is Ground Floor Egerton House, 68 Baker Street, Weybridge, Surrey, United Kingdom, KT13 8AL.


13.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 15 May 2025 by Nick Bishop FCA (Senior Statutory Auditor) on behalf of BKL Audit LLP.

 
Page 8