Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31falseHolding Company12022-01-012truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09140912 2022-01-01 2022-12-31 09140912 2021-01-01 2021-12-31 09140912 2022-12-31 09140912 2021-12-31 09140912 2021-01-01 09140912 2 2021-01-01 2021-12-31 09140912 d:Director1 2022-01-01 2022-12-31 09140912 e:CurrentFinancialInstruments 2022-12-31 09140912 e:CurrentFinancialInstruments 2021-12-31 09140912 e:CurrentFinancialInstruments e:WithinOneYear 2022-12-31 09140912 e:CurrentFinancialInstruments e:WithinOneYear 2021-12-31 09140912 e:ShareCapital 2022-01-01 2022-12-31 09140912 e:ShareCapital 2022-12-31 09140912 e:ShareCapital 2021-01-01 2021-12-31 09140912 e:ShareCapital 2021-12-31 09140912 e:ShareCapital 2021-01-01 09140912 e:SharePremium 2022-01-01 2022-12-31 09140912 e:SharePremium 2022-12-31 09140912 e:SharePremium 2021-01-01 2021-12-31 09140912 e:SharePremium 2021-12-31 09140912 e:SharePremium 2021-01-01 09140912 e:SharePremium 2 2021-01-01 2021-12-31 09140912 e:CapitalRedemptionReserve 2022-01-01 2022-12-31 09140912 e:CapitalRedemptionReserve 2022-12-31 09140912 e:CapitalRedemptionReserve 2021-01-01 2021-12-31 09140912 e:CapitalRedemptionReserve 2021-12-31 09140912 e:CapitalRedemptionReserve 2021-01-01 09140912 e:CapitalRedemptionReserve 2 2021-01-01 2021-12-31 09140912 e:OtherMiscellaneousReserve 2022-01-01 2022-12-31 09140912 e:OtherMiscellaneousReserve 2021-01-01 2021-12-31 09140912 e:OtherMiscellaneousReserve 2021-12-31 09140912 e:OtherMiscellaneousReserve 2021-01-01 09140912 e:OtherMiscellaneousReserve 2 2021-01-01 2021-12-31 09140912 e:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 09140912 e:RetainedEarningsAccumulatedLosses 2022-12-31 09140912 e:RetainedEarningsAccumulatedLosses 2021-01-01 2021-12-31 09140912 e:RetainedEarningsAccumulatedLosses 2021-12-31 09140912 e:RetainedEarningsAccumulatedLosses 2021-01-01 09140912 e:RetainedEarningsAccumulatedLosses 2 2021-01-01 2021-12-31 09140912 d:OrdinaryShareClass1 2022-01-01 2022-12-31 09140912 d:OrdinaryShareClass1 2022-12-31 09140912 d:OrdinaryShareClass1 2021-12-31 09140912 d:FRS102 2022-01-01 2022-12-31 09140912 d:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 09140912 d:FullAccounts 2022-01-01 2022-12-31 09140912 d:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 xbrli:shares iso4217:GBP xbrli:pure
Company registration number: 09140912











________________________________________________________________________________________


FIPRA INTERNATIONAL (HOLDINGS) LIMITED

________________________________________________________________________________________



UNAUDITED

ANNUAL REPORT

INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 
31 DECEMBER 2022

 
FIPRA INTERNATIONAL (HOLDINGS) LIMITED
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Statement of Changes in Equity
 
3 - 4
Notes to the Financial Statements
 
5 - 10


 
FIPRA INTERNATIONAL (HOLDINGS) LIMITED
REGISTERED NUMBER:09140912

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note

Fixed assets
  

Investments
 4 
992,967
992,967

  
992,967
992,967

Current assets
  

Debtors: amounts falling due within one year
 5 
436
541

Cash at bank and in hand
  
8,910
8,993

  
9,346
9,534

Creditors: amounts falling due within one year
 6 
(635,618)
(633,948)

Net current liabilities
  
 
 
(626,272)
 
 
(624,414)

Total assets less current liabilities
  
366,695
368,553

  

Net assets
  
366,695
368,553


Capital and reserves
  

Called up share capital 
 7 
2,978
2,978

Share premium account
 8 
201,554
201,554

Capital redemption reserve
 8 
8,998
8,998

Profit and loss account
 8 
153,165
155,023

  
366,695
368,553


Page 1

 
FIPRA INTERNATIONAL (HOLDINGS) LIMITED
REGISTERED NUMBER:09140912
    
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 profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statementson pages 1 to 10 were approved and authorised for issue by the board on 8 November 2023 and signed on its behalf by:



L. Batchelor
Director

Page 2

 

FIPRA INTERNATIONAL (HOLDINGS) LIMITED
 
 
 


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2022



Called up share capital
Share premium account
Capital redemption reserve
Profit and loss account
Total equity




At 1 January 2022
2,978
201,554
8,998
155,023
368,553



Comprehensive income for the year


Profit for the year
-
-
-
598,142
598,142

Total comprehensive income for the year
-
-
-
598,142
598,142



Contributions by and distributions to owners


Dividends: Equity capital
-
-
-
(600,000)
(600,000)



Total transactions with owners
-
-
-
(600,000)
(600,000)



At 31 December 2022
2,978
201,554
8,998
153,165
366,695



Page 3

 

FIPRA INTERNATIONAL (HOLDINGS) LIMITED
 
 
 


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2021



Called up share capital
Share premium account
Capital redemption reserve
Share based payment reserve
Profit and loss account
Total equity




At 1 January 2021
2,978
201,554
8,998
8,941
157,328
379,799



Comprehensive income for the year


Profit for the year
-
-
-
-
97,695
97,695

Total comprehensive income for the year
-
-
-
-
97,695
97,695



Contributions by and distributions to owners


Dividends: Equity capital
-
-
-
-
(100,000)
(100,000)


Share based payments
-
-
-
(8,941)
-
(8,941)



Total transactions with owners
-
-
-
(8,941)
(100,000)
(108,941)



At 31 December 2021
2,978
201,554
8,998
-
155,023
368,553



Page 4

 
FIPRA INTERNATIONAL (HOLDINGS) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.Accounting policies

 
1.1

Statement of compliance

The principal activity of the Company is that of a holding company. The group provides consultancy, advisory, public and government relations and other services.
FIPRA International (Holdings) Limited is a private company limited by shares and is incorporated and domiciled in England and Wales.  The address of its registered office and principal place of business is 201 Borough High Street, London SE1 1JA.

  
1.2

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention as modified for the revaluation of certain financial instruments and in accordance with Section 1A Small Entities of Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The Company is the parent undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the Company as an individual undertaking and not about its group.
The preparation of financial statements requires the use of certain critical accounting estimates.  It also requires management to exercise its judgement in the process of applying the Company's accounting policies.  The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in note 2.

  
1.3

Foreign currency translation

Functional and presentation currency
The functional and presentation currency of the Company is the euro.
 
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.  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 the Profit and Loss Account.
Foreign exchange gains and losses are presented in the Profit and Loss Account in ‘administrative expenses’.

Page 5

 
FIPRA INTERNATIONAL (HOLDINGS) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.Accounting policies (continued)

  
1.4

Taxation

Taxation expense for the period comprises current and deferred tax recognised in the reporting period.  Tax is recognised in the Profit and Loss Account.  Current or deferred taxation assets and liabilities are not discounted.
Current tax
Current tax is the amount of corporation tax payable in respect of the taxable profit for the year or prior years.  Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period end.
Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation.  It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.
 
Deferred tax
Deferred tax arises from timing differences that are differences between taxable profits and profit on ordinary activities before taxation as stated in the financial statements.  These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.
Deferred tax is recognised on all material timing differences at the reporting date except for certain exceptions.  Unrelieved tax losses and other deferred tax assets are only recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

  
1.5

Distributions to equity holders

Final dividends to the Company’s shareholder are recognised as a liability in the financial statements in the period in which the dividends are approved by the shareholder and recognised in the Statement of Changes in Equity.  Interim dividends are recognised in the Statement of Changes in Equity as paid.

  
1.6

Investments

Investments in subsidiaries are measured at cost less provision for impairment.

Page 6

 
FIPRA INTERNATIONAL (HOLDINGS) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.Accounting policies (continued)

  
1.7

Financial instruments

The Company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.
Debtors and Creditors
Debtors and creditors with no stated interest rate and receiveable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the Profit and Loss Account in 'administrative expenses'.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.
Offsetting
Financial assets and liabilities are offset and 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.

  
1.8

Share capital

Ordinary shares are classified as equity.

  
1.9

Equity settled share based payments

The cost of equity-settled transactions with employees and consultants is measured by reference to the fair value of the equity instruments granted at the date at which they are granted and is recognised as an expense over the vesting period, which ends on the date on which the relevant employees and consultants become fully entitled to the award. Fair value is determined using an appropriate pricing model. In valuing equity-settled transactions, no account is taken of any vesting conditions, other than conditions linked to the price of the shares of the Company (market conditions) and non vesting conditions. No expense is recognised for awards that do not ultimately vest, except for awards where vesting is conditional upon a market or non vesting condition, which are treated as vesting irrespective of whether or not the market or non vesting condition is satisfied, provided that all other performance conditions are satisfied.
At each balance sheet date before vesting, the cumulative expense is calculated, representing the extent to which the vesting period has expired and management’s best estimate of the achievement or otherwise of non-market conditions and of the number of equity instruments that will ultimately vest or in the case of an instrument subject to a market condition, be treated as vesting as described above. The movement in cumulative expense since the previous balance sheet date is recognised in the income statement, with a corresponding entry in equity. 
The financial effect of awards by the Company of options over its equity shares to the employees and consultants of subsidiary undertakings are recognised by the Company in its financial statements. In particular the Company records a change in its investment in subsidiaries and a change in equity equivalent to the share based payment expense or credit recognised in the subsidiary undertakings financial statements. Where options are cancelled, the total fair value charge not previously reflected is recognised immediately. Where options are considered to be forfeited, the cumulative share option charge is reversed.

Page 7

 
FIPRA INTERNATIONAL (HOLDINGS) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.


Judgements in applying accounting policies and key sources of estimation uncertainty

In preparing the financial statements management are required to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year.  However, the nature of estimation means that actual outcomes could differ from these estimates. Whilst management have made judgements, estimates and assumptions in preparing these financial statements, they consider that these have not had a significant effect on amounts recognised.


3.


Employees and key management personnel

The average monthly number of employees, including directors, during the year was 1 (2021 - 2).


4.


Fixed asset investments





Investments in subsidiary companies




Cost or valuation


At 1 January 2022
992,967



At 31 December 2022
992,967




The Company owns 100% of the ordinary shares of FIPRA International Limited which in turn owns 100% of the ordinary shares of FIPRA Brussels s.p.r.l. (incorporated in Belgium). The principal activity of both companies is the provision of consultancy, advisory, public and government relations and other services. Fipra International Limited's registered office address is 201 Borough High Street, London, SE1 1JA. Fipra Brussels s.p.r.l. registered office address is Rue de la Loi 227, 1040 Brussels, Belgium.

Page 8

 
FIPRA INTERNATIONAL (HOLDINGS) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

5.


Debtors

2022
2021


Other debtors
436
541



6.


Creditors: Amounts falling due within one year

2022
2021

Amounts owed to group undertakings
633,358
627,924

Accruals and deferred income
2,260
6,024

635,618
633,948



7.


Share capital

2022
2021
Allotted, called up and fully paid



2,978 (2021 - 2,978) ordinary shares of 1.00 each
2,978
2,978



8.


Reserves

Share premium account
This reserve records the amount above the nominal value received for shares issued. 
 
Capital redemption reserve
The Capital redemption reserve represents the nominal value of 'own' shares purchased and cancelled by the Company. The reserve is not distributable.
 
Share based payment reserve
The share based payment reserve relates to amounts in respect of equity options granted by the Company. This reserve is not distributable.
 
Profit and loss account
The profit and loss account is a wholly distributable reserve.

Page 9

 
FIPRA INTERNATIONAL (HOLDINGS) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

9.


Group issued equity settled share based payments

On 8 January 2021, the entire share capital of the Company was acquired by FIPRA International SRL, an entity incorporated in Belgium, on a share for share exchange basis. As a result, holders of all of the 49,150 options in the share option scheme in FIPRA International (Holdings) Limited released or surrendered their options in the Company scheme. The Director considered that the options had been forfeited. As share based payments granted to employees and consultants of the Company’s subsidiary were recognised as an increase in the investment, the cumulative increase in the investment prior to the forfeiture was reveresed in full. Accordingly, this resulted in a reduction in the share based payment reserve and investment in subsidiary of €8,941 in the prior year.
The balance on the share based payment reserve at the balance sheet date was €nil (2021: €nil).


10.


Related party transactions

The Company has taken advantage of the exemption provided in FRS 102 Section 1A from disclosing transactions and balances with members of the same wholly owned group.


11.


Controlling party

In the prior year on 8 January 2021, the entire share capital of the Company was acquired by FIPRA International SRL, an entity incorporated in Belgium, on a share for share exchange basis and that entity is now the parent undertaking of FIPRA International (Holdings) Limited.
The Company's ultimate controlling party is L. Batchelor.

 
Page 10