Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-312022-02-01falseThe principal activity of the company during the year was that of an investment holding company.11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10312846 2022-02-01 2023-01-31 10312846 2021-02-01 2022-01-31 10312846 2023-01-31 10312846 2022-01-31 10312846 2021-02-01 10312846 c:Director1 2022-02-01 2023-01-31 10312846 d:CurrentFinancialInstruments 2023-01-31 10312846 d:CurrentFinancialInstruments 2022-01-31 10312846 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 10312846 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 10312846 d:ShareCapital 2022-02-01 2023-01-31 10312846 d:ShareCapital 2023-01-31 10312846 d:ShareCapital 2021-02-01 2022-01-31 10312846 d:ShareCapital 2022-01-31 10312846 d:ShareCapital 2021-02-01 10312846 d:RetainedEarningsAccumulatedLosses 2022-02-01 2023-01-31 10312846 d:RetainedEarningsAccumulatedLosses 2023-01-31 10312846 d:RetainedEarningsAccumulatedLosses 2021-02-01 2022-01-31 10312846 d:RetainedEarningsAccumulatedLosses 2022-01-31 10312846 d:RetainedEarningsAccumulatedLosses 2021-02-01 10312846 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-01-31 10312846 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-01-31 10312846 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 10312846 d:AcceleratedTaxDepreciationDeferredTax 2022-01-31 10312846 c:OrdinaryShareClass1 2022-02-01 2023-01-31 10312846 c:OrdinaryShareClass1 2023-01-31 10312846 c:OrdinaryShareClass1 2022-01-31 10312846 c:FRS102 2022-02-01 2023-01-31 10312846 c:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 10312846 c:FullAccounts 2022-02-01 2023-01-31 10312846 c:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 10312846 2 2022-02-01 2023-01-31 10312846 6 2022-02-01 2023-01-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10312846









LAUREL PRIVATE INVESTMENT LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2023

 
LAUREL PRIVATE INVESTMENT LIMITED
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Statement of Changes in Equity
 
3
Notes to the Financial Statements
 
4 - 8


 
LAUREL PRIVATE INVESTMENT LIMITED
REGISTERED NUMBER: 10312846

BALANCE SHEET
AS AT 31 JANUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
87,485,725
71,308,130

  
87,485,725
71,308,130

Current assets
  

Debtors: amounts falling due within one year
 5 
107,470
91,301

Cash at bank and in hand
 6 
1,650,271
16,166,228

  
1,757,741
16,257,529

Creditors: amounts falling due within one year
 7 
(143,808)
(318,542)

Net current assets
  
 
 
1,613,933
 
 
15,938,987

Total assets less current liabilities
  
89,099,658
87,247,117

Provisions for liabilities
  

Deferred tax
 9 
(673,980)
(864,018)

  
 
 
(673,980)
 
 
(864,018)

Net assets
  
88,425,678
86,383,099


Capital and reserves
  

Called up share capital 
  
73,002,040
72,174,130

Profit and loss account
  
15,423,638
14,208,969

  
88,425,678
86,383,099


Page 1

 
LAUREL PRIVATE INVESTMENT LIMITED
REGISTERED NUMBER: 10312846
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2023

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 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 19 October 2023.




E Behmoaras
Director

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

Page 2

 
LAUREL PRIVATE INVESTMENT LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 February 2021
58,955,177
9,654,757
68,609,934


Comprehensive income for the year

Profit for the year
-
4,554,212
4,554,212

Shares issued during the year
13,218,953
-
13,218,953



At 1 February 2022
72,174,130
14,208,969
86,383,099


Comprehensive income for the year

Profit for the year
-
1,214,669
1,214,669

Shares issued during the year
827,910
-
827,910


At 31 January 2023
73,002,040
15,423,638
88,425,678


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

Page 3

 
LAUREL PRIVATE INVESTMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.


General information

Laurel Private Investment Limited is a private company, limited by shares, incorporated in England and
Wales with registration number of 10312846. The registered office is 71-75 Shelton Street Covent Garden
London WC2H 9JQ.

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

Going concern

The financial statements have been prepared on a going concern basis which assumes that the
company will continue in operational existence for the foreseeable future.

 
2.3

Foreign currency translation

Functional and presentation currency

The company's functional currency is USD. This differs from the presentational currency which is GBP. The financial statements have been prepared in the presentational currency as this is the currency in the jurisdiction in which the company is domiciled for tax reporting purposes.

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 Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

Revenue

Revenue comprises income received from listed investments and realised gains or losses arising
from the disposal of listed investments. Revenue is recognised to the extent that it is probable that
the economic benefits will flow to the company and the revenue can be reliably measured. Revenue
is measured as the fair value of the consideration received or receivable.

Page 4

 
LAUREL PRIVATE INVESTMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.5

Interest income

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

 
2.6

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.

 
2.7

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.

 
2.8

Valuation of investments

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.

 
2.9

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.

 
2.10

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.

Page 5

 
LAUREL PRIVATE INVESTMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.11

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.

 
2.12

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Fixed asset investments





Listed investments

£



Cost or valuation


At 1 February 2022
71,308,130


Additions
38,189,579


Disposals
(21,341,666)


Foreign exchange movement
5,618,031


Revaluations
(6,288,349)



At 31 January 2023
87,485,725




The cost of the listed investments as at 31 January 2023 was £86,603,298 (2022 - £69,755,385).


5.


Debtors

2023
2022
£
£


Prepayments and accrued income
107,470
91,301

107,470
91,301


Page 6

 
LAUREL PRIVATE INVESTMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,650,271
16,166,228



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
5,783
30,872

Corporation tax
110,293
264,780

Accruals and deferred income
27,732
22,890

143,808
318,542



8.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
89,135,996
87,474,358




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand and listed investments.

Page 7

 
LAUREL PRIVATE INVESTMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

9.


Deferred taxation




2023


£






At beginning of year
864,018


Charged to profit or loss
(190,038)



At end of year
673,980

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Capital gains
673,980
864,018


10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



93,079,054 (2022 - 92,079,054) Ordinary shares of $1.00 each
73,002,040
72,174,130


During the year the company issued 1,000,000 Ordinary shares with a par value of $1.

 
Page 8