Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-31true2021-01-01falseNo description of principal activitytrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03297518 2021-01-01 2021-12-31 03297518 2020-01-01 2020-12-31 03297518 2021-12-31 03297518 2020-12-31 03297518 c:Director1 2021-01-01 2021-12-31 03297518 c:Director2 2021-01-01 2021-12-31 03297518 c:RegisteredOffice 2021-01-01 2021-12-31 03297518 c:Agent1 2021-01-01 2021-12-31 03297518 d:Buildings 2021-12-31 03297518 d:Buildings 2020-12-31 03297518 d:PlantMachinery 2021-01-01 2021-12-31 03297518 d:OtherPropertyPlantEquipment 2021-12-31 03297518 d:OtherPropertyPlantEquipment 2020-12-31 03297518 d:CurrentFinancialInstruments 2021-12-31 03297518 d:CurrentFinancialInstruments 2020-12-31 03297518 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 03297518 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 03297518 d:UKTax 2021-01-01 2021-12-31 03297518 d:UKTax 2020-01-01 2020-12-31 03297518 d:ShareCapital 2021-12-31 03297518 d:ShareCapital 2020-12-31 03297518 d:SharePremium 2021-12-31 03297518 d:SharePremium 2020-12-31 03297518 d:OtherMiscellaneousReserve 2021-12-31 03297518 d:OtherMiscellaneousReserve 2020-12-31 03297518 d:RetainedEarningsAccumulatedLosses 2021-12-31 03297518 d:RetainedEarningsAccumulatedLosses 2020-12-31 03297518 c:FRS102 2021-01-01 2021-12-31 03297518 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 03297518 c:FullAccounts 2021-01-01 2021-12-31 03297518 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 03297518 d:AcceleratedTaxDepreciationDeferredTax 2021-12-31 03297518 d:AcceleratedTaxDepreciationDeferredTax 2020-12-31 03297518 6 2021-01-01 2021-12-31 iso4217:GBP xbrli:pure
Registered number: 03297518










HEADGEAR INVESTMENTS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021




















 
HEADGEAR INVESTMENTS LIMITED
 
 
Company Information


Directors
A A Duma 
S Debson 




Registered number
03297518



Registered office
3rd Floor
12 Gough Square

London

EC4A 3DW




Bankers
Metrobank
1 Southampton Row

London

WC1B 5HA





 
HEADGEAR INVESTMENTS LIMITED
Registered number: 03297518

Balance sheet
As at 31 December 2021

2021
2020
Note
£
£

Fixed assets
  

Tangible assets
 5 
2,700,000
2,700,000

Investments
 6 
233,330
196,992

  
2,933,330
2,896,992

Current assets
  

Debtors: amounts falling due within one year
 7 
689
-

Bank & cash balances
  
11,642
402

  
12,331
402

Creditors: amounts falling due within one year
 8 
(222,122)
(245,017)

Net current liabilities
  
 
 
(209,791)
 
 
(244,615)

Total assets less current liabilities
  
2,723,539
2,652,377

Provisions for liabilities
  

Deferred tax
 9 
(418,028)
(314,265)

  
 
 
(418,028)
 
 
(314,265)

Net assets
  
2,305,511
2,338,112


Capital and reserves
  

Called up share capital 
  
195
195

Share premium account
  
77,330
77,330

Other reserves
  
1,813,930
1,813,929

Profit and loss account
  
414,056
446,658

  
2,305,511
2,338,112


Page 1

 
HEADGEAR INVESTMENTS LIMITED
Registered number: 03297518
    
Balance sheet (continued)
As at 31 December 2021

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 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 and delivered 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 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 A Duma
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
HEADGEAR INVESTMENTS LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 31 December 2021

1.


General information

Headgear Investments Limited is a private company limited by share capital, incorporated in England and Wales, registration number 03297518. The address of the registered office is 3rd Floor, 12 Gough Square, London, EC4A 3DW.

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

Turnover

The turnover shown in the profit and loss account represents rents receivable during the year.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant & machinery
-
33% per annum

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Profit and loss account.

 
2.4

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Profit and loss account.

Page 3

 
HEADGEAR INVESTMENTS LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 31 December 2021

2.Accounting policies (continued)

 
2.5

Valuation of investments

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 Profit and loss account 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 the Profit and loss account 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.

 
2.7

Debtors

Short term debtors are measured at transaction price, less any impairment. 

 
2.8

Creditors

Short term creditors are measured at the transaction price. 

 
2.9

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.

 
2.10

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

Page 4

 
HEADGEAR INVESTMENTS LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 31 December 2021

2.Accounting policies (continued)

 
2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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, including directors, during the year was 2 (2020 - 2).

Page 5

 
HEADGEAR INVESTMENTS LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 31 December 2021

4.


Taxation


2021
2020
£
£

Corporation tax


Current tax on profits for the year
10,905
10,077


Total current tax
10,905
10,077

Deferred tax


Origination and reversal of timing differences
103,763
3,213


Taxation on profit on ordinary activities
114,668
13,290







5.


Tangible fixed assets





Investment property
Other fixed assets
Total

£
£
£



Cost or valuation


At 1 January 2021
2,700,000
1,501
2,701,501



At 31 December 2021

2,700,000
1,501
2,701,501



Depreciation


At 1 January 2021
-
1,501
1,501



At 31 December 2021

-
1,501
1,501



Net book value



At 31 December 2021
2,700,000
-
2,700,000



At 31 December 2020
2,700,000
-
2,700,000

Page 6

 
HEADGEAR INVESTMENTS LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 31 December 2021

6.


Fixed asset investments





Listed investments
Unlisted investments
Total

£
£
£



Cost or valuation


At 1 January 2021
140,942
56,050
196,992


Additions
35,210
-
35,210


Disposals
(16,957)
-
(16,957)


Revaluations
18,085
-
18,085



At 31 December 2021
177,280
56,050
233,330






 


7.


Debtors

2021
2020
£
£


Other debtors
689
-

689
-



8.


Creditors: Amounts falling due within one year

2021
2020
£
£

Corporation tax
10,905
10,077

Other creditors
211,217
234,940

222,122
245,017


Page 7

 
HEADGEAR INVESTMENTS LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 31 December 2021

9.


Deferred taxation




2021


£






At beginning of year
314,265


Charged for the year
103,763



At end of year
418,028

The provision for deferred taxation is made up as follows:

2021
2020
£
£


Tax payable on future chargeable gains
418,028
314,265

418,028
314,265


10.


Related party transactions

Included in other creditors at 31 December 2021 is an amount of £203,262 (2020: £227,355) representing amounts loaned to the company by a shareholder. The loan is provided interest free and is repayable on demand.
Also included in other creditors at 31 December 2021 is an amount of £200 (2020: £200) owed to  director of the company. This balance has been advanced to the company on an interest free basis and is repayable on demand.

 
Page 8