Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-31false2021-01-01No description of principal activity1true1trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12355309 2021-01-01 2021-12-31 12355309 2019-12-09 2020-12-31 12355309 2021-12-31 12355309 2020-12-31 12355309 c:Director1 2021-01-01 2021-12-31 12355309 c:RegisteredOffice 2021-01-01 2021-12-31 12355309 d:CurrentFinancialInstruments 2021-12-31 12355309 d:CurrentFinancialInstruments 2020-12-31 12355309 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 12355309 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 12355309 d:ShareCapital 2021-12-31 12355309 d:ShareCapital 2020-12-31 12355309 d:RetainedEarningsAccumulatedLosses 2021-12-31 12355309 d:RetainedEarningsAccumulatedLosses 2020-12-31 12355309 c:OrdinaryShareClass1 2021-01-01 2021-12-31 12355309 c:OrdinaryShareClass1 2021-12-31 12355309 c:OrdinaryShareClass1 2020-12-31 12355309 c:FRS102 2021-01-01 2021-12-31 12355309 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 12355309 c:FullAccounts 2021-01-01 2021-12-31 12355309 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 12355309 6 2021-01-01 2021-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 12355309








CLEVER BIRD HOLDINGS LIMITED
UNAUDITED
DIRECTOR'S REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021



















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CLEVER BIRD HOLDINGS LIMITED
 
 
Company Information


Director
A F Beard 




Registered number
12355309



Registered office
5 Fleet Place

London

EC4M 7RD





 
CLEVER BIRD HOLDINGS LIMITED
Registered number: 12355309

Balance sheet
As at 31 December 2021

2021
2020
Note
£
£

Fixed assets
  

Investments
 4 
4,276
4,276

  
4,276
4,276

Current assets
  

Debtors: amounts falling due within one year
 5 
27,894,248
25,582,426

Cash at bank and in hand
  
4,113
10,762

  
27,898,361
25,593,188

Creditors: amounts falling due within one year
 6 
(27,933,122)
(25,613,206)

Net current liabilities
  
 
 
(34,761)
 
 
(20,018)

Total assets less current liabilities
  
(30,485)
(15,742)

Net liabilities
  
(30,485)
(15,742)


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
(30,585)
(15,842)

  
(30,485)
(15,742)


Page 1

 
CLEVER BIRD HOLDINGS LIMITED
Registered number: 12355309
    
Balance sheet (continued)
As at 31 December 2021

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 year 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 6 September 2022.


A F Beard
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
CLEVER BIRD HOLDINGS LIMITED
 
 
 
Notes to the financial statements
For the year ended 31 December 2021

1.


General information

Clever Bird Holdings Limited is a private company limited by shares and incorporated in England and Wales, registration number 12355309. The address of the registered office is 5 Fleet Place, London, England, EC4M 7RD.
The company was incorporated on 9 December 2019 and therefore the comparatives throughout these financial statements are for a 13 month period to 31 December 2020 and are not wholly comparative.  

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

Going concern

The financial statements have been prepared on a going concern basis despite an excess of liabilities over total assets as it is the intention of the shareholders and ultimate beneficial owner to continue to provide financial support to the company as and when required to meet liabilities as they fall due. In the opinion of the director this support will be available for an excess of twelve months from the date of approving these financial statements.

 
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.

 
2.4

Valuation of investments

Investments in joint ventures are held at cost less impairment.

Page 3

 
CLEVER BIRD HOLDINGS LIMITED
 
 
 
Notes to the financial statements
For the year ended 31 December 2021

2.Accounting policies (continued)

 
2.5

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.

 
2.6

Cash and cash equivalents

Cash is represented by deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.7

Creditors

Short-term creditors are measured at the transaction price.

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and loss account.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.


3.


Employees

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

Page 4

 
CLEVER BIRD HOLDINGS LIMITED
 
 
 
Notes to the financial statements
For the year ended 31 December 2021

4.


Fixed asset investments





Investments in joint ventures

£



Cost or valuation


At 1 January 2021
4,276



At 31 December 2021
4,276





5.


Debtors

2021
2020
£
£


Amounts owed by group undertakings
90
90

Amounts owed by joint ventures
27,894,158
25,582,336

27,894,248
25,582,426



6.


Creditors: Amounts falling due within one year

2021
2020
£
£

Bank overdrafts
2,203
-

Other loans
27,894,158
25,582,336

Trade creditors
-
14,080

Other creditors
28,995
14,990

Accruals and deferred income
7,766
1,800

27,933,122
25,613,206



7.


Share capital

2021
2020
£
£
Allotted, called up and fully paid



10 (2020 - 10) Ordinary shares of £1.00 each
10
10

Page 5

 
CLEVER BIRD HOLDINGS LIMITED
 
 
 
Notes to the financial statements
For the year ended 31 December 2021

7.Share capital (continued)

Allotted, called up and unpaid



90 (2020 - 90) Ordinary shares of £1.00 each
90
90



8.


Related party transactions

During the year, the Director funded the working capital of the company by paying for various expenses on its behalf amounting to £14,005 (2020 - £14,990). At 31 December 2021 the balance due to the Director in relation to this was £28,995 (2020- £14,990). This balance is interest free and repayable on demand.
The Director also provided a loan facility to the company for the purpose of financing an investment in a joint venture. During the period the company drew down £2,311,822 (2020 - £25,582,336) of this facility. At the year end £27,894,158 (2020 - £25,582,336) remained outstanding. The loan facility is interest free and repayable on demand.
A corresponding debtor of £27,894,158 (2020 - £25,582,336) is outstanding at 31 December 2021, being the amount due from the joint venture under the terms of a loan facility provided to it from the company. This amount is interest free and repayable on demand.

 
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