Caseware UK (AP4) 2022.0.179 2022.0.179 42022-04-01false4falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11093787 2022-04-01 2023-03-31 11093787 2023-03-31 11093787 2021-04-01 2022-03-31 11093787 2022-03-31 11093787 c:Director1 2022-04-01 2023-03-31 11093787 c:Director2 2022-04-01 2023-03-31 11093787 d:CurrentFinancialInstruments 2023-03-31 11093787 d:CurrentFinancialInstruments 2022-03-31 11093787 d:Non-currentFinancialInstruments 2023-03-31 11093787 d:Non-currentFinancialInstruments 2022-03-31 11093787 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 11093787 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 11093787 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 11093787 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 11093787 d:ShareCapital 2023-03-31 11093787 d:ShareCapital 2022-03-31 11093787 d:RetainedEarningsAccumulatedLosses 2023-03-31 11093787 d:RetainedEarningsAccumulatedLosses 2022-03-31 11093787 c:FRS102 2022-04-01 2023-03-31 11093787 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 11093787 c:FullAccounts 2022-04-01 2023-03-31 11093787 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 11093787 2 2022-04-01 2023-03-31 11093787 6 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure
Registered number: 11093787













Garmer Holdings Limited

Financial statements
Information for filing with the registrar

31 March 2023




 
Garmer Holdings Limited


Balance sheet
At 31 March 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
6
6

  
6
6

Current assets
  

Debtors: amounts falling due within one year
 5 
251,563
68,930

Bank and cash balances
  
187,486
159,436

  
439,049
228,366

Creditors: amounts falling due within one year
 6 
(61,377)
(96,429)

Net current assets
  
 
 
377,672
 
 
131,937

Total assets less current liabilities
  
377,678
131,943

Creditors: amounts falling due after more than one year
 7 
(36,244)
(41,244)

  

Net assets
  
341,434
90,699


Capital and reserves
  

Called up share capital 
  
12
12

Profit and loss account
  
341,422
90,687

Shareholders' funds
  
341,434
90,699


1

 
Garmer Holdings Limited

    
Balance sheet (continued)
At 31 March 2023

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 profit and loss account 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 5 October 2023.




Keith Howard Garber
Andrew Marshall Halmer
Director
Director

Registered number: 11093787
The notes on pages 3 to 7 form part of these financial statements. 

2

 
Garmer Holdings Limited
 
 

Notes to the financial statements
Year ended 31 March 2023

1.


General information

The company is a private company limited by shares, registered in England and Wales. The address of
the registered office is Third Floor Citygate, St James Boulevard, Newcastle Upon Tyne, England, NE1
4JE

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

Interest income

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

 
2.3

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.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

3

 
Garmer Holdings Limited
 

 
Notes to the financial statements
Year ended 31 March 2023

2.Accounting policies (continued)

 
2.5

Pensions

Defined benefit pension plan

The company operates a defined benefit plan for certain employees. A defined benefit plan defines the pension benefit that the employee will receive on retirement, usually dependent upon several factors including but not limited to age, length of service and remuneration. A defined benefit plan is a pension plan that is not a defined contribution plan.

The liability recognised in the balance sheet in respect of the defined benefit plan is the present value of the defined benefit obligation at the end of the balance sheet date less the fair value of plan assets at the balance sheet date (if any) out of which the obligations are to be settled.

The defined benefit obligation is calculated using the projected unit credit method. Annually the company engages independent actuaries to calculate the obligation. The present value is determined by discounting the estimated future payments using market yields on high quality corporate bonds that are denominated in sterling and that have terms approximating to the estimated period of the future payments ('discount rate').

The fair value of plan assets is measured in accordance with the FRS 102 fair value hierarchy and in accordance with the company's policy for similarly held assets. This includes the use of appropriate valuation techniques.

Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or credited to other comprehensive income. These amounts together with the return on plan assets, less amounts included in net interest, are disclosed as 'Remeasurement of net defined benefit liability'.

The cost of the defined benefit plan, recognised in profit or loss as employee costs, except where included in the cost of an asset, comprises:

a) the increase in net pension benefit liability arising from employee service during the period; and

b) the cost of plan introductions, benefit changes, curtailments and settlements.

The net interest cost is calculated by applying the discount rate to the net balance of the defined benefit obligation and the fair value of plan assets. This cost is recognised in profit or loss as a 'finance expense'.

 
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.

4

 
Garmer Holdings Limited
 

 
Notes to the financial statements
Year ended 31 March 2023

2.Accounting policies (continued)

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

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 profit or loss for the period.

 
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.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).

5

 
Garmer Holdings Limited
 
 

Notes to the financial statements
Year ended 31 March 2023

4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2022
6



At 31 March 2023
6





5.


Debtors

2023
2022
£
£


Other debtors
251,563
68,930

251,563
68,930



6.


Creditors: amounts falling due within one year

2023
2022
£
£

Bank loans
5,000
5,000

Amounts owed to group undertakings
45,117
45,117

Corporation tax
7,621
41,175

Other taxation and social security
297
235

Other creditors
102
102

Accruals and deferred income
3,240
4,800

61,377
96,429



7.


Creditors: amounts falling due after more than one year

2023
2022
£
£

Bank loans
36,244
41,244

36,244
41,244


6

 
Garmer Holdings Limited
 
 

Notes to the financial statements
Year ended 31 March 2023

8.


Related party transactions

During the year the company operated an intercompany account with Doctor Michael Frain Limited to record amounts due and from the holding company. At 31 March 2023 the company owed £45,117 (2022: £45,117) to Doctor Michael Frain Limited.

 
7