Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-31false2022-09-01property development and trading22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08640687 2022-09-01 2023-08-31 08640687 2021-09-01 2022-08-31 08640687 2023-08-31 08640687 2022-08-31 08640687 c:Director1 2022-09-01 2023-08-31 08640687 c:RegisteredOffice 2022-09-01 2023-08-31 08640687 d:FurnitureFittings 2022-09-01 2023-08-31 08640687 d:FurnitureFittings 2023-08-31 08640687 d:FurnitureFittings 2022-08-31 08640687 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 08640687 d:ComputerEquipment 2022-09-01 2023-08-31 08640687 d:ComputerEquipment 2023-08-31 08640687 d:ComputerEquipment 2022-08-31 08640687 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 08640687 d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 08640687 d:CurrentFinancialInstruments 2023-08-31 08640687 d:CurrentFinancialInstruments 2022-08-31 08640687 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 08640687 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 08640687 d:ShareCapital 2023-08-31 08640687 d:ShareCapital 2022-08-31 08640687 d:RetainedEarningsAccumulatedLosses 2023-08-31 08640687 d:RetainedEarningsAccumulatedLosses 2022-08-31 08640687 c:OrdinaryShareClass1 2022-09-01 2023-08-31 08640687 c:OrdinaryShareClass1 2023-08-31 08640687 c:OrdinaryShareClass1 2022-08-31 08640687 c:OrdinaryShareClass2 2022-09-01 2023-08-31 08640687 c:OrdinaryShareClass2 2023-08-31 08640687 c:OrdinaryShareClass2 2022-08-31 08640687 c:OrdinaryShareClass3 2022-09-01 2023-08-31 08640687 c:OrdinaryShareClass3 2023-08-31 08640687 c:OrdinaryShareClass3 2022-08-31 08640687 c:OrdinaryShareClass4 2022-09-01 2023-08-31 08640687 c:OrdinaryShareClass4 2023-08-31 08640687 c:OrdinaryShareClass4 2022-08-31 08640687 c:OrdinaryShareClass5 2022-09-01 2023-08-31 08640687 c:OrdinaryShareClass5 2023-08-31 08640687 c:OrdinaryShareClass5 2022-08-31 08640687 c:FRS102 2022-09-01 2023-08-31 08640687 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 08640687 c:FullAccounts 2022-09-01 2023-08-31 08640687 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 08640687 2 2022-09-01 2023-08-31 xbrli:shares iso4217:GBP xbrli:pure


Registered number: 08640687












1912 INVESTMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

 

1912 INVESTMENTS LIMITED

CONTENTS



Page
Company information
 
1
Balance sheet
 
2 - 3
Notes to the financial statements
 
4 - 9


 

1912 INVESTMENTS LIMITED
 
COMPANY INFORMATION


Director
R J Drew 




Registered number
08640687



Registered office
16 Great Queen Street

Covent Garden

London

WC2B 5AH




Accountants
Blick Rothenberg Limited
Chartered Accountants

16 Great Queen Street

Covent Garden

London

WC2B 5AH




Page 1


 
REGISTERED NUMBER:08640687
1912 INVESTMENTS LIMITED

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
9,439
12,586

  
9,439
12,586

Current assets
  

Debtors: amounts falling due within one year
 5 
2,107,668
2,035,385

Cash at bank and in hand
  
109,292
1,033,721

  
2,216,960
3,069,106

Creditors: amounts falling due within one year
 6 
(2,346,444)
(2,613,578)

Net current (liabilities)/assets
  
 
 
(129,484)
 
 
455,528

Total assets less current liabilities
  
(120,045)
468,114

  

Net (liabilities)/assets
  
(120,045)
468,114


Capital and reserves
  

Called up share capital 
 7 
105
105

Profit and loss account
  
(120,150)
468,009

Total equity
  
(120,045)
468,114


Page 2


 
REGISTERED NUMBER:08640687
1912 INVESTMENTS LIMITED
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 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 by: 




R J Drew
Director

Date: 20 February 2024

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 

1912 INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

1912 Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is 16 Great Queen Street, Covent Garden, London, WC2B 5AH.
The financial statements are presented in Sterling (£) which is the functional currency of the company.
Monetary amounts in these financial statements are rounded to the nearest £.

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

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

  
2.3

Revenue

Turnover represents amounts receivable from loan arrangements and services rendered and is recognised when due.

 
2.4

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, .

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
on a reducing balance basis
Computer equipment
-
25%
on a straight-line basis

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.

Page 4

 

1912 INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)


2.5

Financial instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. 
 
The company’s policies for its major classes of financial assets and financial liabilities are set out below. 

Financial assets
Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. 

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Page 5

 

1912 INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)




Financial instruments (continued)

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.

  
2.6

Share capital

Ordinary shares are classified as equity.

  
2.7

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

 
2.8

Interest income

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

 
2.9

Borrowing costs

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

 
2.10

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.

Page 6

 

1912 INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.11

Taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years.
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 arises from timing differences that are differences between taxable profits and total comprehensive income 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 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 7

 

1912 INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 September 2022
36,642
10,368
47,010



At 31 August 2023

36,642
10,368
47,010



Depreciation


At 1 September 2022
24,056
10,368
34,424


Charge for the year on owned assets
3,147
-
3,147



At 31 August 2023

27,203
10,368
37,571



Net book value



At 31 August 2023
9,439
-
9,439


5.


Debtors

2023
2022
£
£


Other debtors
2,107,230
2,035,000

Prepayments and accrued income
438
385

2,107,668
2,035,385



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other loans
2,100,000
2,395,000

Trade creditors
55,199
22,683

Corporation tax
-
65,666

Other taxation and social security
764
324

Other creditors
183,881
93,305

Accruals and deferred income
6,600
36,600

2,346,444
2,613,578


Page 8

 

1912 INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



10 (2022 - 10) Ordinary shares - A Class shares of £1.00 each
10
10
12 (2022 - 12) Ordinary shares - B Class shares of £1.00 each
12
12
12 (2022 - 12) Ordinary shares - C Class shares of £1.00 each
12
12
12 (2022 - 12) Ordinary shares - D Class shares of £1.00 each
12
12
12 (2022 - 12) Ordinary shares - E Class shares of £1.00 each
12
12
8 (2022 - 8) Ordinary shares - F Class shares of £1.00 each
8
8
8 (2022 - 8) Ordinary shares - G Class shares of £1.00 each
8
8
8 (2022 - 8) Ordinary shares - H Class shares of £1.00 each
8
8
8 (2022 - 8) Ordinary shares - I Class shares of £1.00 each
8
8
5 (2022 - 5) Ordinary shares - J Class shares of £1.00 each
5
5
5 (2022 - 5) Ordinary shares - K Class shares of £1.00 each
5
5
5 (2022 - 5) Ordinary shares - L Class shares of £1.00 each
5
5

105

105



8.


Related party transactions

During the year, an entity under common control provided consultancy services of £Nil (2022: £40,000) to the company. 
Director's fees of £Nil (2022: £8,000) were paid to the director. 
At the year end, the company owed £183,881 (2022: £93,305) to the director. Interest is payable upon the redemption of the full loan. There are no formal terms and conditions regarding the repayment of the loan.

 
Page 9