Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31true2022-01-01falseNo description of principal activity22falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03486348 2022-01-01 2022-12-31 03486348 2021-01-01 2021-12-31 03486348 2022-12-31 03486348 2021-12-31 03486348 c:Director1 2022-01-01 2022-12-31 03486348 d:Buildings 2022-01-01 2022-12-31 03486348 d:Buildings 2022-12-31 03486348 d:Buildings 2021-12-31 03486348 d:Buildings d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 03486348 d:PlantMachinery 2022-01-01 2022-12-31 03486348 d:PlantMachinery 2022-12-31 03486348 d:PlantMachinery 2021-12-31 03486348 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 03486348 d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 03486348 d:CurrentFinancialInstruments 2022-12-31 03486348 d:CurrentFinancialInstruments 2021-12-31 03486348 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 03486348 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 03486348 d:ShareCapital 2022-12-31 03486348 d:ShareCapital 2021-12-31 03486348 d:ForeignCurrencyTranslationReserve 2022-12-31 03486348 d:ForeignCurrencyTranslationReserve 2021-12-31 03486348 d:RetainedEarningsAccumulatedLosses 2022-12-31 03486348 d:RetainedEarningsAccumulatedLosses 2021-12-31 03486348 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 03486348 d:AcceleratedTaxDepreciationDeferredTax 2021-12-31 03486348 c:FRS102 2022-01-01 2022-12-31 03486348 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 03486348 c:FullAccounts 2022-01-01 2022-12-31 03486348 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 03486348 2 2022-01-01 2022-12-31 03486348 6 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 03486348










WORLDVIEW INVESTMENTS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
WORLDVIEW INVESTMENTS LIMITED
REGISTERED NUMBER: 03486348

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,096,103
3,112,924

Investments
  
1,108,193
1,108,193

  
4,204,296
4,221,117

Current assets
  

Debtors: amounts falling due within one year
 5 
793,586
823,985

Cash at bank and in hand
 6 
36,660
86,294

  
830,246
910,279

Creditors: amounts falling due within one year
 7 
(5,753,515)
(5,777,610)

Net current liabilities
  
 
 
(4,923,269)
 
 
(4,867,331)

Total assets less current liabilities
  
(718,973)
(646,214)

Provisions for liabilities
  

Deferred tax
 8 
(42,707)
(42,031)

  
 
 
(42,707)
 
 
(42,031)

Net liabilities
  
(761,680)
(688,245)


Capital and reserves
  

Called up share capital 
  
9,111,650
9,111,650

Foreign exchange reserve
  
757,384
757,384

Profit and loss account
  
(10,630,714)
(10,557,279)

  
(761,680)
(688,245)


Page 1

 
WORLDVIEW INVESTMENTS LIMITED
REGISTERED NUMBER: 03486348

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022

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 25 September 2023.




T E Webster
Director

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

Page 2

 
WORLDVIEW INVESTMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

Worldview Investments Limited is a private company, limited by share capital and incorporated in England and Wales.
The company's registered address is 2 Communications Road, Greenham, Thatcham, Berkshire, England, RG14 6AB.

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 currency is South African Rand. This differs from the presentational currency which is GBP. The reason for the difference is that the majority of the Company's operations are based in South Africa and a significant proportion of the Company's intercompany loans are denominated in South African Rand.

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.

 
2.3

Revenue

Revenue comprises sale of farming produce and live stock. 
Revenue is stated at the invoice amount and is exclusive of value added taxation.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
WORLDVIEW INVESTMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

 
2.6

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.

Investment property rented to other group entities and accounted for under the cost model is stated at historical cost less accumulated depreciation and any accumulated impairment losses.

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:

Freehold property
-
2%
Plant and machinery
-
10% - 20%

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 profit or loss.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 4

 
WORLDVIEW INVESTMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

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 profit or loss 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.

 
2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities
Page 5

 
WORLDVIEW INVESTMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)


2.12
Financial instruments (continued)


Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2021 - 2).

Page 6

 
WORLDVIEW INVESTMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

4.


Tangible fixed assets





Freehold property
Plant and machinery
Total

£
£
£



Cost or valuation


At 1 January 2022
2,850,957
817,973
3,668,930


Additions
38,119
-
38,119


Disposals
-
(42,728)
(42,728)


Exchange adjustments
45,826
13,148
58,974



At 31 December 2022

2,934,902
788,393
3,723,295



Depreciation


At 1 January 2022
55,418
500,588
556,006


Charge for the year on owned assets
12,049
76,951
89,000


Disposals
-
(26,751)
(26,751)


Exchange adjustments
891
8,046
8,937



At 31 December 2022

68,358
558,834
627,192



Net book value



At 31 December 2022
2,866,544
229,559
3,096,103



At 31 December 2021
2,795,539
317,385
3,112,924


5.


Debtors

2022
2021
£
£


Trade debtors
228,891
148,376

Amounts owed by group undertakings
564,695
675,609

793,586
823,985



6.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
36,660
86,294

36,660
86,294


Page 7

 
WORLDVIEW INVESTMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

7.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
32,350
20,447

Amounts owed to group undertakings
5,708,352
5,728,368

Other taxation and social security
-
8,554

Other creditors
7,803
-

Accruals and deferred income
5,010
20,241

5,753,515
5,777,610



8.


Deferred taxation




2022


£






At beginning of year
(42,031)


Charged to profit or loss
(676)



At end of year
(42,707)

The provision for deferred taxation is made up as follows:

2022
2021
£
£


Accelerated capital allowances
(42,707)
(42,031)

(42,707)
(42,031)


Page 8