Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31truefalse2022-01-01No description of principal activity11trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08871781 2022-01-01 2022-12-31 08871781 2021-01-01 2021-12-31 08871781 2022-12-31 08871781 2021-12-31 08871781 c:Director1 2022-01-01 2022-12-31 08871781 d:CurrentFinancialInstruments 2022-12-31 08871781 d:CurrentFinancialInstruments 2021-12-31 08871781 d:Non-currentFinancialInstruments 2022-12-31 08871781 d:Non-currentFinancialInstruments 2021-12-31 08871781 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 08871781 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 08871781 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 08871781 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 08871781 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 08871781 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-12-31 08871781 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 08871781 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-12-31 08871781 d:ShareCapital 2022-12-31 08871781 d:ShareCapital 2021-12-31 08871781 d:SharePremium 2022-12-31 08871781 d:SharePremium 2021-12-31 08871781 d:RetainedEarningsAccumulatedLosses 2022-12-31 08871781 d:RetainedEarningsAccumulatedLosses 2021-12-31 08871781 c:OrdinaryShareClass1 2022-01-01 2022-12-31 08871781 c:OrdinaryShareClass1 2022-12-31 08871781 c:OrdinaryShareClass1 2021-12-31 08871781 c:FRS102 2022-01-01 2022-12-31 08871781 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 08871781 c:FullAccounts 2022-01-01 2022-12-31 08871781 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 08871781 2 2022-01-01 2022-12-31 08871781 6 2022-01-01 2022-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08871781









NEWCO 0114 LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
NEWCO 0114 LIMITED
REGISTERED NUMBER: 08871781

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Investments
 4 
4
4

  
4
4

Current assets
  

Debtors: amounts falling due within one year
 5 
-
2,799

Cash at bank and in hand
  
-
25

  
-
2,824

Creditors: amounts falling due within one year
 6 
(249,734)
(241,763)

Net current liabilities
  
 
 
(249,734)
 
 
(238,939)

Total assets less current liabilities
  
(249,730)
(238,935)

Creditors: amounts falling due after more than one year
 7 
(24,167)
(34,167)

  

Net liabilities
  
(273,897)
(273,102)


Capital and reserves
  

Called up share capital 
 9 
4
4

Share premium account
  
299,998
299,998

Profit and loss account
  
(573,899)
(573,104)

  
(273,897)
(273,102)


Page 1

 
NEWCO 0114 LIMITED
REGISTERED NUMBER: 08871781
    
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 her 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 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 on 10 November 2023.




K Hothi
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
NEWCO 0114 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

The Company is a private company, limited by shares, incorporated and domiciled in England within the United Kingdom, registration number 08871781.  The Company's registered office is 45-47 Vicarage Road Watford, Watford, Herts, United Kingdom, WD18 0DE.
The financial statements are presented in sterling which is the functional currency of the company and the financial statements are rounded to the nearest £1.

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.

Cash flow
Under Financial Reporting Standard 102, the company is exempt from the requirement to prepare a cash flow statement on the grounds that it qualifies as a small company.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Going concern

The company has net liabilities as at 31 December 2022. The main creditors of the company are the directors  and a subsidiary company. The director intends to support the company for the foreseeable future. For this reason the accounts have been prepared on the going concern basis.

 
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.

 
2.6

Borrowing costs

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

Page 3

 
NEWCO 0114 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.7

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.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.9

Debtors

Short term debtors are measured at transaction price, 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.

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

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

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
Page 4

 
NEWCO 0114 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)


2.12
Financial instruments (continued)

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.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

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.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Page 5

 
NEWCO 0114 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)


2.12
Financial instruments (continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

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


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2022
4



At 31 December 2022
4




The investments in subsidiary companies at the end of the year relates to My Ultra Healthcare Limited, a 100% wholly owned subsidiaries. The registered office of My Ultra Healthcare Limited is Sterling House, 71 Francis Road, Edgbaston, Birmingham, B16 8SP.


5.


Debtors

2022
2021
£
£


Other debtors
-
2,799

-
2,799


Page 6

 
NEWCO 0114 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank overdrafts
6
-

Bank loans
25,333
15,833

Amounts owed to group undertakings
212,930
212,921

Corporation tax
-
27

Other creditors
11,105
12,982

Accruals and deferred income
360
-

249,734
241,763



7.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Bank loans
24,167
34,167

24,167
34,167


The company took out a Bounce Back Loan in May 2020. The Loan was originally for a 6 year term, with the first 12 months being interest and repayment free. Interest is then charged on the loan at 2.5% per annum, andcapital repayments are due to be repaid in equal instalments over the remaining 5 years. The company made one instalment in June 2022 and have made made several repayments since the year end.  The company is renegotiating repayment terms formally with the bank.

Page 7

 
NEWCO 0114 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

8.


Loans


Analysis of the maturity of loans is given below:


2022
2021
£
£

Amounts falling due within one year

Bank loans
25,333
15,833


25,333
15,833

Amounts falling due 1-2 years

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 2-5 years

Bank loans
14,167
24,167


14,167
24,167


49,500
50,000



9.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



4 (2021 - 4) Ordinary shares of £1.00 each
4
4


Page 8

 
NEWCO 0114 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

10.


Related party transactions

During the year the director and shareholder made and received loans to and from the company. As at 31 December 2022 amounts of £181 (2022 - £7,183) was due to the directors and shareholders of the company. 
During the year the company made a loan to a company under common control of the directors.  As at 31 December 2022 amounts of £Nil (2021 - £2,797) remained outstanding and due from the company.
As at 31 December 2022 amounts of £10,925 (2021 - £5,800) remained outstanding and due from other companies under common control of the directors.
These loans are interest free and repayable on demand.

 
Page 9