Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-312022-01-01falseNo description of principal activity22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10466519 2022-01-01 2022-12-31 10466519 2021-01-01 2021-12-31 10466519 2022-12-31 10466519 2021-12-31 10466519 c:Director1 2022-01-01 2022-12-31 10466519 d:Buildings d:ShortLeaseholdAssets 2022-01-01 2022-12-31 10466519 d:Buildings d:ShortLeaseholdAssets 2022-12-31 10466519 d:Buildings d:ShortLeaseholdAssets 2021-12-31 10466519 d:CurrentFinancialInstruments 2022-12-31 10466519 d:CurrentFinancialInstruments 2021-12-31 10466519 d:Non-currentFinancialInstruments 2022-12-31 10466519 d:Non-currentFinancialInstruments 2021-12-31 10466519 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 10466519 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 10466519 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 10466519 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 10466519 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 10466519 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-12-31 10466519 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 10466519 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-12-31 10466519 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-12-31 10466519 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2021-12-31 10466519 d:ShareCapital 2022-12-31 10466519 d:ShareCapital 2021-12-31 10466519 d:RetainedEarningsAccumulatedLosses 2022-12-31 10466519 d:RetainedEarningsAccumulatedLosses 2021-12-31 10466519 c:FRS102 2022-01-01 2022-12-31 10466519 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 10466519 c:FullAccounts 2022-01-01 2022-12-31 10466519 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 10466519 6 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 10466519










ANMSP LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
ANMSP LIMITED
REGISTERED NUMBER: 10466519

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,917,945
-

Investments
 5 
3,166,377
3,166,377

  
7,084,322
3,166,377

Current assets
  

Debtors: amounts falling due within one year
 6 
361,449
134,586

Cash at bank and in hand
 7 
45,126
33,504

  
406,575
168,090

Creditors: amounts falling due within one year
 8 
(6,720,699)
(2,489,009)

Net current liabilities
  
 
 
(6,314,124)
 
 
(2,320,919)

Total assets less current liabilities
  
770,198
845,458

Creditors: amounts falling due after more than one year
 9 
(745,104)
(832,897)

  

Net assets
  
25,094
12,561


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
25,092
12,559

  
25,094
12,561


Page 1

 
ANMSP LIMITED
REGISTERED NUMBER: 10466519
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022

The directors consider 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 directors acknowledge their 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 Patel
Director

Date: 28 February 2024

The notes on pages 3 to 12 form part of these financial statements.

Page 2

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

1.


General information

ANMSP Limited is a private company limited by shares, incorporated in England within the United Kingdom.The address of the registered office is Scratchwood House, Barnet Lane, Elstree, Borehamwood, Herfordshire, WD6 3QU.
The Company's functional and presentational currency is GBP and these 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.

The following principal accounting policies have been applied:

  
2.2

Parent company

ANMSP Limited is the parent company of a small group. The Company is not required to prepare and has not prepared group financial statements. The financial statements are those of a parent company, not a group. 

  
2.3

Going concern

At the balance sheet date, the Company has net current liabilities of £6,314,124 (2021: £2,320,919) and total assets of £25,094 (2021: £12,561). The accounts have been prepared on a going concern basis as the directors of ANMSP Limited have received confirmation from Neeyati Limited and Napclan Retail Limited, related entities, that the balances due (see note 12) will not be payable untill ANMSP Limited has the ability to repay the debts without any impact on the liquidity of the company. The directors have considered relevant information, alongside future cash flows in making their assessment.
The directors have made the assessment in respect of a period of at least twelve months from the date these accounts were approved and have concluded that there are no material uncertainties about the Company's ability to continue using the going concern basis.

 
2.4

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.

 
2.5

Borrowing costs

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

Page 3

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

2.Accounting policies (continued)

 
2.6

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.

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.

 
2.7

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, using the straight-line method.

Depreciation is provided on the following basis:

Short-term leasehold property
-
over period of the lease

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

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

2.Accounting policies (continued)

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and Loss Account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.9

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.

 
2.10

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 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
Page 5

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

2.Accounting policies (continued)


2.12
Financial instruments (continued)

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 classified as basic financial instruments. These are initially recognised at fair value on the date the
Page 6

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

2.Accounting policies (continued)


2.12
Financial instruments (continued)

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.

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.

Derecognition of financial liabilities

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

 
2.13

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 2 (2021 - 2).

Page 7

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

4.


Tangible fixed assets





Short-term leasehold property

£



Cost


Additions
3,917,945



At 31 December 2022

3,917,945






Net book value



At 31 December 2022
3,917,945



At 31 December 2021
-


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2022
3,166,377



At 31 December 2022
3,166,377





6.


Debtors

2022
2021
£
£


Amounts owed by related undertakings
101,574
101,574

Other debtors
215,747
33,012

Prepayments and accrued income
44,128
-

361,449
134,586


Page 8

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

7.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
45,126
33,504

45,126
33,504



8.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank loans
90,231
102,067

Trade creditors
17,322
-

Amounts owed to group undertakings
2,254,860
1,639,765

Amounts owed to related undertakings
4,189,516
694,411

Corporation tax
33,012
33,012

Other creditors
120,756
758

Accruals and deferred income
15,002
18,996

6,720,699
2,489,009


Bank loans are secured – see note 11.

Page 9

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

9.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Bank loans
745,104
832,897

745,104
832,897


Bank loans are secured – see note 11.

The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:

2022
2021
£
£


Repayable by instalments
384,180
424,628

384,180
424,628



Page 10

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

10.


Loans


Analysis of the maturity of loans is given below:


2022
2021
£
£

Amounts falling due within one year

Bank loans
90,231
102,067


90,231
102,067

Amounts falling due 1-2 years

Bank loans
90,231
102,067


90,231
102,067

Amounts falling due 2-5 years

Bank loans
270,693
306,202


270,693
306,202

Amounts falling due after more than 5 years

Bank loans
384,180
424,628

384,180
424,628

835,335
934,964


The bank loan of £835,335 (2021: £934,964) is secured. 
In January 2018, the Company took out a loan of £1,300,000 from National Westminster Bank Plc. The loan is guaranteed by Napclan Retail Limited, a company under common control of the shareholders, and by Neeyati Limited, a subsidiary company of ANMSP Limited. There is also further security for this loan through a fixed and floating charge over the assets of the Company and a fixed charge over a property owned by a shareholder. The loan term is 12 years with interest of 3.25% above base being charged.

Page 11

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

11.


Related party transactions

At the year end, an amount of £101,574 (2021 - £101,574) was owed by Turkoise LLP, an entity in which R Patel, a director, is a designated member. The loan is unsecured, interest free and repayable on demand.
At the year end, an amount of £4,189,516 (2021 - £694,411) was owed to Napclan Retail Limited, a
company owned by R B Patel, a director. The loan is unsecured, interest free and repayable on demand.
At the year end, the Company owed £2,254,860 (2021 - £1,639,765) to Neeyati Limited, a wholly owned
subsidiary of ANMSP Limited. The loan is unsecured, interest free and repayable on demand.
At the year end, the Company owed £120,756 (2021 - £758) to R Patel, a director. The loan is unsecured, interest free and repayable on demand.


12.


Controlling party

The directors at the year end are the ultimate controlling parties.

 
Page 12