Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-3112022-04-01falseNo description of principal activity1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09142439 2022-04-01 2023-03-31 09142439 2021-04-01 2022-03-31 09142439 2023-03-31 09142439 2022-03-31 09142439 c:Director1 2022-04-01 2023-03-31 09142439 d:LeaseholdInvestmentProperty 2023-03-31 09142439 d:LeaseholdInvestmentProperty 2022-03-31 09142439 d:CurrentFinancialInstruments 2023-03-31 09142439 d:CurrentFinancialInstruments 2022-03-31 09142439 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09142439 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 09142439 d:ShareCapital 2023-03-31 09142439 d:ShareCapital 2022-03-31 09142439 d:OtherMiscellaneousReserve 2022-04-01 2023-03-31 09142439 d:OtherMiscellaneousReserve 2023-03-31 09142439 d:OtherMiscellaneousReserve 2022-03-31 09142439 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 09142439 d:RetainedEarningsAccumulatedLosses 2023-03-31 09142439 d:RetainedEarningsAccumulatedLosses 2022-03-31 09142439 c:FRS102 2022-04-01 2023-03-31 09142439 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 09142439 c:FullAccounts 2022-04-01 2023-03-31 09142439 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 09142439 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 09142439 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 09142439 2 2022-04-01 2023-03-31 09142439 6 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 09142439









GARDENIA INVESTMENTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
GARDENIA INVESTMENTS LIMITED
REGISTERED NUMBER: 09142439

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
6,150,612
5,956,458

Investment property
 5 
720,000
720,000

  
6,870,612
6,676,458

Current assets
  

Debtors: amounts falling due within one year
 6 
29,512
4,364

Cash at bank and in hand
 7 
371,891
760,314

  
401,403
764,678

Creditors: amounts falling due within one year
 8 
(6,096,369)
(6,105,974)

Net current liabilities
  
 
 
(5,694,966)
 
 
(5,341,296)

Total assets less current liabilities
  
1,175,646
1,335,162

Provisions for liabilities
  

Deferred tax
 9 
(47,969)
(128,809)

  
 
 
(47,969)
 
 
(128,809)

Net assets
  
1,127,677
1,206,353


Capital and reserves
  

Called up share capital 
  
100
100

Other reserves
 10 
(60,950)
269,911

Profit and loss account
 10 
1,188,527
936,342

  
1,127,677
1,206,353


Page 1

 
GARDENIA INVESTMENTS LIMITED
REGISTERED NUMBER: 09142439
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 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 statement of comprehensive income 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: 




Michael Townsend
Director

Date: 1 March 2024

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

Page 2

 
GARDENIA INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Gardenia Investments Limited is a private company limited by shares and incorporated in England. The registered office is 101 New Cavendish Street, 1st Floor South. London, W1W 6XH.
The principal activity of the Company continued to be that of an investment company.

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

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.4

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income 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 reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Page 3

 
GARDENIA INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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.

 
2.7

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

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

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.

 
2.9

Interest income

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

 
2.10

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

Page 4

 
GARDENIA INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.11

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 reporting 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 reporting 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 reporting date.


3.


Employees

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


4.


Fixed asset investments





Listed investments
Unlisted investments
Total

£
£
£



Cost or valuation


At 1 April 2022
4,617,939
1,338,519
5,956,458


Additions
1,823,697
20,000
1,843,697


Disposals
(1,366,651)
-
(1,366,651)


Revaluations
(282,892)
-
(282,892)



At 31 March 2023
4,792,093
1,358,519
6,150,612




Page 5

 
GARDENIA INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Investment property


Long term leasehold investment property

£



Valuation


At 1 April 2022
720,000



At 31 March 2023
720,000

The 2023 valuations were made by the director, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
760,467
760,467

760,467
760,467


6.


Debtors

2023
2022
£
£


Other debtors
28,071
3,072

Prepayments and accrued income
1,441
1,292

29,512
4,364



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
371,891
760,314

371,891
760,314


Page 6

 
GARDENIA INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
18,770
28,930

Other creditors
6,075,099
6,074,544

Accruals and deferred income
2,500
2,500

6,096,369
6,105,974



9.


Deferred taxation




2023


£






At beginning of year
(128,809)


Charged to other comprehensive income
80,840



At end of year
(47,969)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Fair value movement on investments
(47,969)
(128,809)

(47,969)
(128,809)


10.


Reserves

Other reserves

Relates to non-distributable reserves, including the surplus/deficit on revaluation of investments and deferred tax.

Profit and loss account

Includes all distributable reserves from current and prior period profits and losses.

 
Page 7