Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-31 2024-12-31 false 1 true No description of principal activity 2024-01-02 false 1 false 14713073 2024-01-02 2024-12-31 14713073 2023-03-07 2024-01-01 14713073 2024-12-31 14713073 2024-01-01 14713073 1 2024-01-02 2024-12-31 14713073 d:Director1 2024-01-02 2024-12-31 14713073 c:CurrentFinancialInstruments 2024-12-31 14713073 c:CurrentFinancialInstruments 2024-01-01 14713073 c:CurrentFinancialInstruments c:WithinOneYear 2024-12-31 14713073 c:CurrentFinancialInstruments c:WithinOneYear 2024-01-01 14713073 c:ShareCapital 2024-12-31 14713073 c:ShareCapital 2024-01-01 14713073 c:RetainedEarningsAccumulatedLosses 2024-12-31 14713073 c:RetainedEarningsAccumulatedLosses 2024-01-01 14713073 d:FRS102 2024-01-02 2024-12-31 14713073 d:Audited 2024-01-02 2024-12-31 14713073 d:FullAccounts 2024-01-02 2024-12-31 14713073 d:PrivateLimitedCompanyLtd 2024-01-02 2024-12-31 14713073 d:SmallCompaniesRegimeForAccounts 2024-01-02 2024-12-31 14713073 6 2024-01-02 2024-12-31 14713073 e:PoundSterling 2024-01-02 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 14713073 FINFARE UK LIMITED DIRECTOR'S REPORT AND FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE PERIOD ENDED 31 DECEMBER 2024
FINFARE UK LIMITED REGISTERED NUMBER: 14713073 STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2024
| 31 December | 1 January
| 2024 | 2024
Note | £ | £
Fixed assets |  |  |
Investments | 4 | 1,713,540 | 1,713,540
Creditors: amounts falling due within one year | 5 | (1,727,939) | (1,720,739)
Net liabilities |  | (14,399) | (7,199)
Capital and reserves |  |  |
Called up share capital |  | 1 | 1
Profit and loss account |  | (14,400) | (7,200)
|  | (14,399) | (7,199)
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 9 April 2026.
W Lin
Director
The notes on pages 2 to 5 form part of these financial statements. Page 1
FINFARE UK LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024
1. | General information
Finfare UK Limited is a private company limited by shares incorporated in the United Kingdom and registered in England and Wales. The address of its registered office is 16 St. John's Lane, London, England, EC1M 4BS. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies. The Company's functional and presentational currency is GBP. The following principal accounting policies have been applied:
| 2.2 | Exemption from preparing consolidated financial statements
The company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.
| 2.3 | Going concern
After the reporting date, the operation of UK companies has been transferred to its fellow group company, and the directors intend to dissolve the Company within 12 months of the date of approval of these financial statements. Accordingly, the directors consider that it is not appropriate to prepare the financial statements on the going concern basis. The financial statements have therefore been prepared on a basis other than that of the going concern basis. This basis includes writing the company’s assets down to net realisable value. No provision has been made for the future costs of terminating the business unless such costs were committed at the reporting date.
| 2.4 | Valuation of investments
Investments are measured at their estimated net realisable value, being the expected proceeds from disposal less any costs to sell, as the Company is not considered to be a going concern. Page 2
FINFARE UK LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.5 | Creditors
Creditors are measured at the amounts expected to be settled. This includes any additional liabilities arising from the planned cessation of operations, such as redundancy costs, contract termination costs, and other closure-related obligations, to the extent that such obligations existed at the reporting date. Where applicable, provisions are recognised for costs associated with the wind-down of the business when a present obligation exists at the reporting date. Page 3
FINFARE UK LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.6 | 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 Statement of Financial Position when the company becomes party to the contractual provisions of the instrument. Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) 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 interes.
3. | Employees
| The average monthly number of employees, including directors, during the Period was 1 (2024 - 1).
4. | Fixed asset investments
|  | Investments in subsidiary companies
|  | £
| Valuation |
| At 2 January 2024 | 1,713,540
| At 31 December 2024 | 1,713,540
5. | Creditors: Amounts falling due within one year
|  |  |  |  | 31 December | 1 January
|  |  |  |  | 2024 | 2024
|  |  |  |  | £ | £
| Amounts owed to group undertakings | 1,713,539 | 1,713,539
| Accruals | 14,400 | 7,200
|  | 1,727,939 | 1,720,739
Page 4
FINFARE UK LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024
6. | Related party transactions
| At the reporting date, the company owed £1,713,539 (Period ended 1 Jan 2024: £1,713,539) to Finfare Inc., the immediate parent company of Finfare UK Limited. These balances arose from intercompany funding arrangements and are considered related party transactions under FRS 102. The amounts are unsecured, interest-free, and repayable on demand. No guarantees have been given or received in respect of these balances.
7. | Post balance sheet events
Subsequent to the reporting date, in August 2025, the ownership of Finfare UK Limited was assigned by Finfare Inc. to its wholly owned subsidiary, Finfare Financial Inc. (United States). Following this assignment, Finfare Financial Inc. was spun off from Finfare Inc. and now operates as the holding company of the UK group entities. In October 2025, Finfare Inc. changed its legal name to Formosa Capital Operations Inc. These events occurred after the reporting period and relate to conditions that arose subsequent to 1 January 2024. Accordingly, they are treated as non-adjusting events under FRS 102 Section 32 and no adjustments have been made to the financial statements.
8. | Controlling party
At the reporting date, the immediate parent company is Finfare Inc., incorporated in the United States. Finfare Inc. is the parent undertaking of Finfare UK Limited and holds a controlling interest. There is no single ultimate controlling party, as Finfare Inc. is widely held and no individual or entity exercises ultimate control over the group.
9. | Auditors' information
The auditors' report on the financial statements for the Period ended 31 December 2024 was unqualified.
| In their report, the auditors emphasised the following matter without qualifying their report: We draw attention to note 2.3 in the financial statements which explains that the directors intend to dissolve the company and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern as described in note 2.3. Our opinion is not modified in respect of this matter.
The audit report was signed on 13 April 2026 by Robert Maskey (Senior Statutory Auditor) on behalf of Nyman Libson Paul LLP.
Page 5