Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-2812022-03-01falsefalseNo description of principal activity1trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12463085 2022-03-01 2023-02-28 12463085 2021-03-01 2022-02-28 12463085 2023-02-28 12463085 2022-02-28 12463085 c:Director1 2022-03-01 2023-02-28 12463085 d:Buildings 2022-03-01 2023-02-28 12463085 d:Buildings 2023-02-28 12463085 d:Buildings 2022-02-28 12463085 d:CurrentFinancialInstruments 2023-02-28 12463085 d:CurrentFinancialInstruments 2022-02-28 12463085 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 12463085 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 12463085 d:ShareCapital 2023-02-28 12463085 d:ShareCapital 2022-02-28 12463085 d:RetainedEarningsAccumulatedLosses 2023-02-28 12463085 d:RetainedEarningsAccumulatedLosses 2022-02-28 12463085 c:OrdinaryShareClass1 2022-03-01 2023-02-28 12463085 c:OrdinaryShareClass1 2023-02-28 12463085 c:OrdinaryShareClass1 2022-02-28 12463085 c:FRS102 2022-03-01 2023-02-28 12463085 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 12463085 c:FullAccounts 2022-03-01 2023-02-28 12463085 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 12463085 2 2022-03-01 2023-02-28 xbrli:shares iso4217:GBP xbrli:pure

Registered number:  12463085














VILLANELLE HOLDINGS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


 
VILLANELLE HOLDINGS LIMITED
REGISTERED NUMBER: 12463085

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
151,176
151,176

  
151,176
151,176

Current assets
  

Debtors: amounts falling due within one year
 5 
33,330
34,825

  
33,330
34,825

Creditors: amounts falling due within one year
 6 
(165,351)
(157,448)

Net current liabilities
  
 
 
(132,021)
 
 
(122,623)

Total assets less current liabilities
  
19,155
28,553

  

Net assets
  
19,155
28,553


Capital and reserves
  

Called up share capital 
 7 
1
1

Profit and loss account
  
19,154
28,552

  
19,155
28,553


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.





 
Page 1

 
VILLANELLE HOLDINGS LIMITED
REGISTERED NUMBER: 12463085
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2023

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 November 2023.




S N C Hall
Director

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

Page 2

 
VILLANELLE HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

Villanelle Holdings Limited is a private limited company, limited by shares, incorporated in England and Wales.  Its registered office is 11th Floor, The Plaza, 100 Old Hall Street, Liverpool, L3 9QJ.  
The company number is 12463085.

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

Revenue

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, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

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

 
2.4

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.

Page 3

 
VILLANELLE HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as below.

Depreciation is provided on the following basis:

Freehold property
-
Not depreciated

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

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.

 
2.7

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.

 
2.8

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.

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 present value of the future receipts discounted at a market rate of interest.

Page 4

 
VILLANELLE HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)


2.8
Financial instruments (continued)

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.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

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.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not
Page 5

 
VILLANELLE HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)


2.8
Financial instruments (continued)

classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

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


4.


Tangible fixed assets





Freehold property

£



Cost or valuation


At 1 March 2022
151,176



At 28 February 2023

151,176






Net book value



At 28 February 2023
151,176



At 28 February 2022
151,176

Page 6

 
VILLANELLE HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

5.


Debtors

2023
2022
£
£


Other debtors
33,330
34,825

33,330
34,825



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
13,621
6,698

Other creditors
150,980
150,000

Accruals and deferred income
750
750

165,351
157,448



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary share of £1.00
1
1



8.


Related party transactions

Included within debtors is an amount of £33,330 (2022: £34,825) owed from related parties.
Included within creditors is an amount of £150,980 (2022: £150,000) owed to related parties.
All transactions were conducted at an arms length basis.


9.


Controlling party

The ultimate controlling party is S N C Hall.

 
Page 7