Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31false2022-04-01The principal activity of the company during the year was to be a financial services holding company.33truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08922717 2022-04-01 2023-03-31 08922717 2021-04-01 2022-03-31 08922717 2023-03-31 08922717 2022-03-31 08922717 c:CompanySecretary1 2022-04-01 2023-03-31 08922717 c:Director1 2022-04-01 2023-03-31 08922717 c:Director2 2022-04-01 2023-03-31 08922717 c:RegisteredOffice 2022-04-01 2023-03-31 08922717 d:Goodwill 2022-04-01 2023-03-31 08922717 d:Goodwill 2023-03-31 08922717 d:Goodwill 2022-03-31 08922717 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 08922717 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 08922717 d:ShareCapital 2023-03-31 08922717 d:ShareCapital 2022-03-31 08922717 d:RetainedEarningsAccumulatedLosses 2023-03-31 08922717 d:RetainedEarningsAccumulatedLosses 2022-03-31 08922717 c:FRS102 2022-04-01 2023-03-31 08922717 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 08922717 c:AbridgedAccounts 2022-04-01 2023-03-31 08922717 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 08922717 6 2022-04-01 2023-03-31 08922717 d:Goodwill d:OwnedIntangibleAssets 2022-04-01 2023-03-31 08922717 4 2023-03-31 08922717 4 2022-03-31 iso4217:GBP xbrli:pure

Registered number: 08922717









GRESHAM WEALTH MANAGEMENT HOLDINGS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
GRESHAM WEALTH MANAGEMENT HOLDINGS LIMITED
 

CONTENTS



Page
Company Information
 
1
Statement of Financial Position
 
2 - 3
Notes to the Financial Statements
 
4 - 8


 
GRESHAM WEALTH MANAGEMENT HOLDINGS LIMITED
 
 
COMPANY INFORMATION


Directors
M Millar 
J Young 




Company secretary
E Young



Registered number
08922717



Registered office
Cecil Court
28-36 Cecil Road

Hale

Altrincham

Cheshire

WA15 9PB




Page 1

 
GRESHAM WEALTH MANAGEMENT HOLDINGS LIMITED
REGISTERED NUMBER: 08922717

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 5 
195,346
241,347

Investments
  
30,000
30,000

  
225,346
271,347

Current assets
  

Debtors
  
59,765
34,316

  
59,765
34,316

Creditors: amounts falling due within one year
  
(265,620)
(286,172)

Net current liabilities
  
 
 
(205,855)
 
 
(251,856)

Total assets less current liabilities
  
19,491
19,491

Net assets
  
19,491
19,491


Capital and reserves
  

Called up share capital 
  
200
200

Profit and loss account
  
19,291
19,291

  
19,491
19,491


Page 2

 
GRESHAM WEALTH MANAGEMENT HOLDINGS LIMITED
REGISTERED NUMBER: 08922717
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS 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 members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

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 income and retained earnings 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 by: 




M Millar
J Young
Director
Director


Date: 17 October 2023

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
GRESHAM WEALTH MANAGEMENT HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

The company is a private company limited by shares, registered in England and Wales (registration number 08922717). The address of the registered office is Cecil Court, 28 - 36 Cecil Road, Hale, Altrincham, Cheshire, WA15 9PB.

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 members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the entity.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Goodwill
-
8-18 years

Page 4

 
GRESHAM WEALTH MANAGEMENT HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.4

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.

 
2.5

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.

 
2.6

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 Income and Retained Earnings 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 Income and Retained Earnings.

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
Page 5

 
GRESHAM WEALTH MANAGEMENT HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.6
Financial instruments (continued)

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

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange derivatives.

  
2.7

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax from the proceeds.

 
2.8

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.

Page 6

 
GRESHAM WEALTH MANAGEMENT HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

3.


Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. 
Significant judgements
Management do not feel that there are any judgements (apart from those involving estimations) that have been made in the process of applying the entity's accounting policies which have a significant effect on the amounts recognised in the financial statements.
Key sources of estimation uncertainty
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:
Estimated useful life and residual value of fixed assets
Depreciation of tangible fixed assets have been based on the estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take into account estimated useful lives and residual values, as evidenced by disposals during current and prior accounting periods.
Impairment of debtors
The company makes an estimate of the recoverable value of trade debtors. When assessing the impairment of trade debtors, management include factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.
Investments
Investments in subsidiaries are valued at cost. The directors annually consider the need for any impairment and provide as appropriate.


4.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).

Page 7

 
GRESHAM WEALTH MANAGEMENT HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Intangible assets




Goodwill

£



Cost


At 1 April 2022
1,019,206



At 31 March 2023

1,019,206



Amortisation


At 1 April 2022
777,859


Charge for the year on owned assets
46,001



At 31 March 2023

823,860



Net book value



At 31 March 2023
195,346



At 31 March 2022
241,347




6.


Fixed asset investments





Trade investments

£





At 1 April 2022
30,000






Net book value



At 31 March 2023
30,000



At 31 March 2022
30,000


7.


Transactions with directors

At the year end £59,765 (2022: £34,316) was owed by M Millar. The loan account was interest free, unsecured and repaid in full after the year end.

 
Page 8