Caseware UK (AP4) 2021.0.152 2021.0.152 2022-04-302022-04-30false2020-12-15false3trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13083698 2020-12-14 13083698 2020-12-15 2022-04-30 13083698 2019-12-15 2020-12-14 13083698 2022-04-30 13083698 c:CompanySecretary1 2020-12-15 2022-04-30 13083698 c:Director1 2020-12-15 2022-04-30 13083698 c:Director1 2022-04-30 13083698 c:Director2 2020-12-15 2022-04-30 13083698 c:Director2 2022-04-30 13083698 c:Director3 2020-12-15 2022-04-30 13083698 c:Director3 2022-04-30 13083698 c:Director4 2020-12-15 2022-04-30 13083698 c:Director4 2022-04-30 13083698 c:RegisteredOffice 2020-12-15 2022-04-30 13083698 d:CurrentFinancialInstruments 2022-04-30 13083698 d:Non-currentFinancialInstruments 2022-04-30 13083698 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 13083698 d:Non-currentFinancialInstruments d:AfterOneYear 2022-04-30 13083698 d:ShareCapital 2020-12-15 2022-04-30 13083698 d:ShareCapital 2022-04-30 13083698 d:RetainedEarningsAccumulatedLosses 2020-12-15 2022-04-30 13083698 d:RetainedEarningsAccumulatedLosses 2022-04-30 13083698 c:FRS102 2020-12-15 2022-04-30 13083698 c:AuditExempt-NoAccountantsReport 2020-12-15 2022-04-30 13083698 c:FullAccounts 2020-12-15 2022-04-30 13083698 c:PrivateLimitedCompanyLtd 2020-12-15 2022-04-30 13083698 6 2020-12-15 2022-04-30 iso4217:GBP xbrli:pure

Registered number: 13083698










XENIA PROPERTY HOLDINGS LTD








UNAUDITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 APRIL 2022



 
XENIA PROPERTY HOLDINGS LTD
 

COMPANY INFORMATION


DIRECTORS
Mark Pears CBE (appointed 15 December 2020)
Sir Trevor Pears CMG (appointed 15 December 2020)
David Pears (appointed 15 December 2020)
WPG Registrars Limited (appointed 15 December 2020)




COMPANY SECRETARY
William Bennett (appointed 15 December 2020)



REGISTERED NUMBER
13083698



REGISTERED OFFICE
Ground Floor
30 City Road

London

EC1Y 2AB





 
XENIA PROPERTY HOLDINGS LTD
 

CONTENTS



Page
Directors' Report
1
Statement of Comprehensive Income
2
Statement of Financial Position
3
Statement of Changes in Equity
4
Notes to the Financial Statements
5 - 9


 
XENIA PROPERTY HOLDINGS LTD
 

 
DIRECTORS' REPORT
FOR THE PERIOD ENDED 30 APRIL 2022

The directors present their report and the financial statements for the period ended 30 April 2022.

PRINCIPAL ACTIVITY

The company was incorporated on 15 December 2020 and commenced trading on 17 February 2021.
The principal activity of the company is to act as a holding company.

DIRECTORS

The directors who served during the period were:

Mark Pears CBE (appointed 15 December 2020)
Sir Trevor Pears CMG (appointed 15 December 2020)
David Pears (appointed 15 December 2020)
WPG Registrars Limited (appointed 15 December 2020)

SMALL COMPANIES NOTE

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board on 12 September 2022 and signed on its behalf.
 





William Bennett
Secretary

Page 1

 
XENIA PROPERTY HOLDINGS LTD
 

STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 30 APRIL 2022

15 Dec 2020
to
30 April
2022
Note
£

  

Administrative expenses
  
(44,046)

OPERATING LOSS
  
(44,046)

Interest payable and similar charges
 4 
(416,571)

LOSS ON ORDINARY ACTIVITIES BEFORE TAXATION
  
(460,617)

Taxation on loss
 5 
-

LOSS FOR THE  PERIOD
  
(460,617)

  

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD
  
(460,617)

The notes on pages 5 to 9 form part of these financial statements.

Page 2

 
XENIA PROPERTY HOLDINGS LTD
REGISTERED NUMBER: 13083698

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2022

2022
Note
£

FIXED ASSETS
  

Investments
 6 
14,442,677

  
14,442,677

CURRENT ASSETS
  

Cash at bank and in hand
  
1,329,282

  
1,329,282

Creditors: amounts falling due within one year
 7 
(829,689)

NET CURRENT ASSETS
  
 
 
499,593

TOTAL ASSETS LESS CURRENT LIABILITIES
  
14,942,270

Creditors: amounts falling due after more than one year
 8 
(10,970,863)

  

NET ASSETS
  
3,971,407


CAPITAL AND RESERVES
  

Called up share capital 
  
4,432,024

Profit and loss account
 9 
(460,617)

TOTAL EQUITY
  
3,971,407


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 period 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 Company's financial statements have been prepared in accordance with the 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 12 September 2022.




David Pears
Director

The notes on pages 5 to 9 form part of these financial statements.

Page 3

 
XENIA PROPERTY HOLDINGS LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 30 APRIL 2022


Called up share capital
Profit and loss account
Total equity

£
£
£


COMPREHENSIVE INCOME FOR THE PERIOD

Loss for the period
-
(460,617)
(460,617)
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD
-
(460,617)
(460,617)

Shares issued during the period
4,432,024
-
4,432,024


AT 30 APRIL 2022
4,432,024
(460,617)
3,971,407

The notes on pages 5 to 9 form part of these financial statements.

Page 4

 
XENIA PROPERTY HOLDINGS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2022

1.


GENERAL INFORMATION

Xenia Property Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Ground Floor, 30 City Road, London, EC1Y 2AB. The principal place of business is Haskell House, 152 West End Lane, London, NW6 1SD.

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

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 following principal accounting policies have been applied:

 
2.2

EXEMPTION FROM PREPARING CONSOLIDATED FINANCIAL STATEMENTS

The Company is exempt from the requirement to prepare consolidated financial statements as all of its subsidiaries are required to be excluded from consolidation by section 402 of the Companies Act 2006.

 
2.3

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 continue to adopt the going concern basis of accounting in preparing these financial statements.

 
2.4

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional currency is CHF. The 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'.

Page 5

 
XENIA PROPERTY HOLDINGS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2022

2.ACCOUNTING POLICIES (CONTINUED)

 
2.5

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.

 
2.6

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

 
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.

 
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.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Investments in non-derivative instruments that are equity to the issuer are measured:
at fair value with changes recognised in the Statement of Comprehensive Income if the shares are publicly traded or their fair value can otherwise be measured reliably;
at cost less impairment for all other investments.

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 Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

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 reporting date.

Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an
Page 6

 
XENIA PROPERTY HOLDINGS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2022

2.ACCOUNTING POLICIES (CONTINUED)


2.8
FINANCIAL INSTRUMENTS (CONTINUED)

intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


EMPLOYEES

The average monthly number of employees, including the directors, during the period was as follows:


15 Dec 2020
to
30 April
2022
            No.






Directors
3


4.


INTEREST PAYABLE AND SIMILAR CHARGES

15 Dec 2020
to
30 April
2022
£


Other loan interest payable
416,571

416,571


5.


TAXATION


15 Dec 2020
to
30 April
2022
£



TOTAL CURRENT TAX
-


TAXATION ON LOSS ON ORDINARY ACTIVITIES
-
Page 7

 
XENIA PROPERTY HOLDINGS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2022
 
5.TAXATION (CONTINUED)


FACTORS AFFECTING TAX CHARGE FOR THE PERIOD

The tax assessed for the period is higher than the standard rate of corporation tax in the UK of 19%. The differences are explained below:

15 Dec 2020
to
30 April
2022
£


Loss on ordinary activities before tax
(460,617)


Loss on ordinary activities multiplied by standard rate of corporation tax in the UK of 19%
(87,517)

EFFECTS OF:


Unrelieved tax losses carried forward
87,517

TOTAL TAX CHARGE FOR THE PERIOD
-


FACTORS THAT MAY AFFECT FUTURE TAX CHARGES

There were no factors that may affect future tax charges.


6.


FIXED ASSET INVESTMENTS





Investments in subsidiary companies

£



COST OR VALUATION


Additions
14,442,677



At 30 April 2022
14,442,677




Page 8

 
XENIA PROPERTY HOLDINGS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2022

7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022
£

Amounts owed to group undertakings
693,585

Sundry loan
31,140

Accruals and deferred income
104,964

829,689



8.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022
£

Amounts owed to group undertakings
10,970,863

10,970,863



9.


RESERVES

Profit and loss account

The profit and loss account includes all current period retained profits and losses.


10.


RELATED PARTY TRANSACTIONS

The Company has taken advantage of the exemptions from disclosure available to subsidiary undertakings under FRS102 Section 1A, paragraph 1 AC.35 in connection with intra group transactions
Creditors include amounts of £31,140 owed to a company in which the directors Mark Pears CBE, Sir Trevor Pears CMG and David Pears have an interest.


11.


CONTROLLING PARTY


The Company is a wholly owned subsidiary of Pears Family Investments Limited. The registered office is Ground Floor, 30 City Road, London EC1Y 2AB.


Page 9