Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-312022-02-01falseNo description of principal activitytruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10565103 2022-02-01 2023-01-31 10565103 2021-02-01 2022-01-31 10565103 2023-01-31 10565103 2022-01-31 10565103 2021-02-01 10565103 c:Director1 2022-02-01 2023-01-31 10565103 d:CurrentFinancialInstruments 2023-01-31 10565103 d:CurrentFinancialInstruments 2022-01-31 10565103 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 10565103 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 10565103 d:ShareCapital 2023-01-31 10565103 d:ShareCapital 2022-01-31 10565103 d:RetainedEarningsAccumulatedLosses 2023-01-31 10565103 d:RetainedEarningsAccumulatedLosses 2022-01-31 10565103 c:FRS102 2022-02-01 2023-01-31 10565103 c:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 10565103 c:FullAccounts 2022-02-01 2023-01-31 10565103 c:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 10565103 d:EntityControlledByKeyManagementPersonnel1 2022-02-01 2023-01-31 10565103 d:EntityControlledByKeyManagementPersonnel1 2021-02-01 2022-01-31 10565103 d:EntityControlledByKeyManagementPersonnel1 2023-01-31 10565103 d:EntityControlledByKeyManagementPersonnel1 2022-01-31 10565103 d:EntityControlledByKeyManagementPersonnel2 2022-02-01 2023-01-31 10565103 d:EntityControlledByKeyManagementPersonnel2 2023-01-31 10565103 d:EntityControlledByKeyManagementPersonnel2 2022-01-31 10565103 2 2022-02-01 2023-01-31 10565103 6 2022-02-01 2023-01-31 10565103 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 10565103 d:AcceleratedTaxDepreciationDeferredTax 2022-01-31 iso4217:GBP xbrli:pure

Registered number: 10565103









BOLTONS PLACE CAPITAL MANAGEMENT LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

 
BOLTONS PLACE CAPITAL MANAGEMENT LIMITED
REGISTERED NUMBER: 10565103

BALANCE SHEET
AS AT 31 JANUARY 2023

2023
2022
Note
$
$

Fixed assets
  

Investments
 4 
34,717,608
34,884,621

  
34,717,608
34,884,621

Current assets
  

Debtors: amounts falling due within one year
 5 
602,848
96,563

Cash at bank and in hand
  
9,462,910
10,469,768

  
10,065,758
10,566,331

Creditors: amounts falling due within one year
 6 
(40,126,747)
(40,157,535)

Net current liabilities
  
 
 
(30,060,989)
 
 
(29,591,204)

Provisions for liabilities
  

Deferred tax
 7 
-
(452,836)

  
 
 
-
 
 
(452,836)

Net assets
  
4,656,619
4,840,581


Capital and reserves
  

Called up share capital 
  
12
12

Retained earnings
  
4,656,607
4,840,569

Shareholder's funds
  
4,656,619
4,840,581


Page 1

 
BOLTONS PLACE CAPITAL MANAGEMENT LIMITED
REGISTERED NUMBER: 10565103
    
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 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 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: 






S P Morris
Director

Date: 25 October 2023

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
BOLTONS PLACE CAPITAL MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.


General information

Boltons Place Capital Management Limited is a private company, limited by shares, domiciled and incorporated in England and Wales (registered number: 10565103). The registered office address is 45 Gresham Street, London, EC2V 7BG.

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.
The director has made an assessment in preparing these financial statements as to whether the Company is a going concern and has concluded that there are no material uncertainties that may cast doubt on the Company's ability to continue as a going concern.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is USD.

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.

 
2.4

Interest income

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

 
2.5

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.

Page 3

 
BOLTONS PLACE CAPITAL MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.6

Valuation of investments

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings 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. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.7

Financial instruments

Financial assets and financial liabilities are recognised in the Balance Sheet when the Company becomes a party to the contractual provisions of the instrument. 
Investments in listed shares are classified as basic financial instruments. They are initially measured at transaction price and subsequently measured at fair value, with changes in fair value being recognised in the Statement of Comprehensive Income. Fair value is determined using the quoted bid price at the balance sheet date.
Trade and other debtors and creditors are classified as basic financial instruments and measured on initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the Company will not be able to collect all amounts due.
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank, short-term bank deposits with an original maturity of three months or less and bank overdrafts which are an integral part of the Company’s cash management.
Derivative financial instruments are classified as other financial instruments. They are measured at fair value on initial recognition and at the end of each reporting period, with changes in fair value recognised in profit or loss.
Financial liabilities and equity instruments issued by the Company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Equity instruments issued by the Company are recorded at the proceeds received, net of direct issue costs.

Page 4

 
BOLTONS PLACE CAPITAL MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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 number of employees, including directors, during the year was 1 (2021 - 1).


Page 5

 
BOLTONS PLACE CAPITAL MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

4.


Fixed asset investments





Listed investments
Other fixed asset investments
Total

$
$
$



Cost or valuation


At 1 February 2022
31,897,383
2,987,238
34,884,621


Additions
4,721,702
25,600
4,747,302


Disposals
(2,426,113)
(252,925)
(2,679,038)


Revaluations
(2,098,984)
(136,293)
(2,235,277)



At 31 January 2023
32,093,988
2,623,620
34,717,608





5.


Debtors

2023
2022
$
$


Other debtors
31,638
1,859

Prepayments and accrued income
95,830
94,704

Deferred taxation
475,380
-

602,848
96,563



6.


Creditors: Amounts falling due within one year

2023
2022
$
$

Amounts owed to associates
7,734
7,734

Corporation tax
52,545
90,951

Other creditors
40,046,388
40,042,212

Accruals and deferred income
20,080
16,638

40,126,747
40,157,535


Page 6

 
BOLTONS PLACE CAPITAL MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

7.


Deferred taxation




2023
2022


$

$






At beginning of year
(452,836)
-


Charged to profit or loss
928,216
(452,836)



At end of year
475,380
(452,836)

The deferred taxation balance is made up as follows:

2023
2022
$
$


Capital losses
475,380
(452,836)


8.Other financial commitments

The Company has made commitments to invest up to $10,155,000 in eight funds (2022 - $8,555,000 in seven funds). At the year end, $6,336,890 (2022 - $4,354,434) had been paid against these commitments.


9.


Related party transactions

Transactions with the Director
During the year, the director personally paid Company expenses of $4,177 (2022 - $3,343). At the year end, the Company owed the director $40,046,388 (2022 - $40,042,212). This loan is unsecured, interest free and has no set date for repayment.
Transactions with associates
At the year end, the Company owed $7,734 (2022 - $7,734) to SPM Capital Management Limited, a company owned by the director.


10.


Controlling party

The ultimate controlling party is the S P Morris, by virtue of his shareholding and directorship in the Company.

Page 7