ACCOUNTS - Final Accounts preparation

KARPATHIOS INVESTMENTS 2 LIMITED - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2021-01-01Investment company1false1falsetrue 12318169 2021-01-01 2021-12-31 12318169 2019-11-18 2020-12-31 12318169 2021-12-31 12318169 2020-12-31 12318169 c:Director1 2021-01-01 2021-12-31 12318169 d:CurrentFinancialInstruments 2021-12-31 12318169 d:CurrentFinancialInstruments 2020-12-31 12318169 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 12318169 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 12318169 c:FRS102 2021-01-01 2021-12-31 12318169 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 12318169 c:FullAccounts 2021-01-01 2021-12-31 12318169 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 12318169 6 2021-01-01 2021-12-31 iso4217:GBP xbrli:pure

Registered number: 12318169

KARPATHIOS INVESTMENTS 2 LIMITED

FINANCIAL STATEMENTS

PAGES FOR FILING WITH REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2021

KARPATHIOS INVESTMENTS 2 LIMITED

REGISTERED NUMBER: 12318169

BALANCE SHEET

AS AT 31 DECEMBER 2021

		2021		2020
		£		£


Fixed assets		3,133,433		136,899
Current assets	3,084,743		3,283,013
Creditors: amounts falling due within one year	(6,231,500)		(3,420,661)
Net current liabilities		(3,146,757)		(137,648)
Total assets less current liabilities		(13,324)		(749)

Net liabilities		(13,324)		(749)


Capital and reserves	(13,324)	(749)

The director considers 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 director acknowledges his 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 on 23 September 2022.

T. Karpathios

Director

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KARPATHIOS INVESTMENTS 2 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2021

1.	General information

Karpathios Investments 2 Limited is a private company limited by share capital, incorporated in England and Wales, registration number 12318169. The address of the registered office is c/o Calder & Co, 30 Orange Street, London, WC2H 7HF.

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, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

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 comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

2.3

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.

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KARPATHIOS INVESTMENTS 2 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

2.4

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.

2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

2.6

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.

2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including directors, during the period was 1 (2020 - 1).

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KARPATHIOS INVESTMENTS 2 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2021

4.	Fixed asset investments

	Listed investments	Unlisted investments	Total
	£	£	£
Cost or valuation
At 1 January 2021	-	136,899	136,899
Additions	1,836,276	1,160,259	2,996,535
At 31 December 2021	1,836,276	1,297,158	3,133,434

5.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Other creditors	6,230,250	3,419,911
Accruals and deferred income	1,250	750
	6,231,500	3,420,661

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