Caseware UK (AP4) 2021.0.152 2021.0.152 2022-03-312022-03-312021-04-01falseActivities of open-ended investment companies00truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12508600 2021-04-01 2022-03-31 12508600 2020-04-01 2021-03-31 12508600 2022-03-31 12508600 2021-03-31 12508600 2020-04-01 12508600 c:Director1 2021-04-01 2022-03-31 12508600 d:CurrentFinancialInstruments 2022-03-31 12508600 d:CurrentFinancialInstruments 2021-03-31 12508600 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 12508600 d:CurrentFinancialInstruments d:WithinOneYear 2021-03-31 12508600 d:ShareCapital 2021-04-01 2022-03-31 12508600 d:ShareCapital 2022-03-31 12508600 d:ShareCapital 2021-03-31 12508600 d:ShareCapital 2020-04-01 12508600 d:RetainedEarningsAccumulatedLosses 2021-04-01 2022-03-31 12508600 d:RetainedEarningsAccumulatedLosses 2022-03-31 12508600 d:RetainedEarningsAccumulatedLosses 2020-04-01 2021-03-31 12508600 d:RetainedEarningsAccumulatedLosses 2021-03-31 12508600 d:RetainedEarningsAccumulatedLosses 2020-04-01 12508600 c:FRS102 2021-04-01 2022-03-31 12508600 c:AuditExempt-NoAccountantsReport 2021-04-01 2022-03-31 12508600 c:FullAccounts 2021-04-01 2022-03-31 12508600 c:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 12508600 6 2021-04-01 2022-03-31 12508600 2 2022-03-31 12508600 2 2021-03-31 iso4217:GBP xbrli:pure

Registered number: 12508600










CHARCO 1527 LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

 
CHARCO 1527 LIMITED
REGISTERED NUMBER: 12508600

BALANCE SHEET
AS AT 31 MARCH 2022

2022
2021
Note
£
£

Fixed assets
  

Investments
 4 
7,168,592
521,647

Current assets
  

Debtors: amounts falling due within one year
 5 
251,369
2

Cash at bank and in hand
  
416,192
1,607

  
667,561
1,609

Creditors: amounts falling due within one year
 6 
(5,392,868)
(507,401)

Net current liabilities
  
 
 
(4,725,307)
 
 
(505,792)

  

Net assets
  
2,443,285
15,855


Capital and reserves
  

Called up share capital 
  
2,167,735
2

Profit and loss account
 7 
275,550
15,853

  
2,443,285
15,855


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 year 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 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 9 September 2022.

A C Lavery
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 1

 
CHARCO 1527 LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2022


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 April 2020
2
-
2



Profit for the year
-
15,853
15,853



At 1 April 2021
2
15,853
15,855



Profit for the year
-
259,697
259,697

Shares issued during the year
2,167,733
-
2,167,733


At 31 March 2022
2,167,735
275,550
2,443,285


The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
CHARCO 1527 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1.


General information

Charco 1527 Limited is a private company limited by shares, incorporated in England and Wales (registered number: 12508600). Its' registered office is the Estate Office, Edensor, Bakewell, Derbyshire, DE45 1PJ. The principal activity of the Company throughout the year continued to be that of an investment company.

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 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

Going concern

At year end date the Company’s current liabilities exceeded its current assets by £4,708,642 (2021: £505,792). The ability of the Company to meet its liabilities as they fall due is dependent on the future profitability and cash generation of the Company. The directors are confident that the Company will be able to pay its debts as they fall due and accordingly these accounts are prepared on a going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is pounds sterling.

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 3

 
CHARCO 1527 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted private partnerships, 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.

 
2.5

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition offinancial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, 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, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Page 4

 
CHARCO 1527 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)

 
2.6

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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees during the year was 0 (2021 - 0). The directors do not have employment contracts with the company and are not paid for their role.

Page 5

 
CHARCO 1527 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

4.


Fixed asset investments





Investments in subsidiary companies
Unlisted investments
Total

£
£
£



Cost or valuation


At 1 April 2021
-
521,647
521,647


Additions
2,483,855
5,576,655
8,060,510


Revaluations
-
240,185
240,185



At 31 March 2022

2,483,855
6,338,487
8,822,342



Impairment


Charge for the period
1,653,750
-
1,653,750



At 31 March 2022

1,653,750
-
1,653,750



Net book value



At 31 March 2022
830,105
6,338,487
7,168,592



At 31 March 2021
-
521,647
521,647

Page 6

 
CHARCO 1527 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

5.


Debtors

2022
2021
£
£


Amounts owed by group undertakings
69,001
-

Amounts owed by other related parties
182,368
-

Other debtors
-
2

251,369
2



6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Amounts owed to group undertakings
-
357,400

Amounts owed to other related parties
836,433
-

Corporation tax
86,566
-

Other creditors
4,469,869
150,001

5,392,868
507,401



7.


Reserves

Profit and loss account

Included within the profit and loss account are amounts totalling £261,832 (2021: £21,647) which are non-distributable.

 
Page 7