Caseware UK (AP4) 2023.0.135 2023.0.135 2023-03-312023-03-3112022-04-01false1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12873969 2022-04-01 2023-03-31 12873969 2021-04-01 2022-03-31 12873969 2023-03-31 12873969 2022-03-31 12873969 c:Director1 2022-04-01 2023-03-31 12873969 d:CurrentFinancialInstruments 2023-03-31 12873969 d:CurrentFinancialInstruments 2022-03-31 12873969 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 12873969 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 12873969 d:ShareCapital 2023-03-31 12873969 d:ShareCapital 2022-03-31 12873969 d:RetainedEarningsAccumulatedLosses 2023-03-31 12873969 d:RetainedEarningsAccumulatedLosses 2022-03-31 12873969 c:OrdinaryShareClass1 2022-04-01 2023-03-31 12873969 c:OrdinaryShareClass1 2023-03-31 12873969 c:OrdinaryShareClass1 2022-03-31 12873969 c:FRS102 2022-04-01 2023-03-31 12873969 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 12873969 c:FullAccounts 2022-04-01 2023-03-31 12873969 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 12873969 6 2022-04-01 2023-03-31 12873969 d:Associate1 2022-04-01 2023-03-31 12873969 d:Associate1 1 2022-04-01 2023-03-31 12873969 e:PoundSterling 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 12873969














EEP INVESTS LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

 
EEP INVESTS LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 6


 
EEP INVESTS LIMITED
REGISTERED NUMBER:12873969

BALANCE SHEET
AS AT 31 MARCH 2023

As restated
2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
33,990,070
50

  
33,990,070
50

Current assets
  

Debtors: amounts falling due within one year
 5 
10,791,156
9,009,900

Current asset investments
 6 
41,455,709
52,414,502

Cash at bank and in hand
 7 
8,083
7,330

  
52,254,948
61,431,732

Creditors: amounts falling due within one year
 8 
(87,287,539)
(59,264,257)

Net current (liabilities)/assets
  
 
 
(35,032,591)
 
 
2,167,475

Total assets less current liabilities
  
(1,042,521)
2,167,525

  

Net (liabilities)/assets
  
(1,042,521)
2,167,525


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
(1,042,621)
2,167,425

  
(1,042,521)
2,167,525


1

 
EEP INVESTS LIMITED
REGISTERED NUMBER:12873969
    
BALANCE SHEET (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 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: 




E E C Pickering
Director

Date: 26 March 2024

The notes on pages 3 to 6 form part of these financial statements.

2

 
EEP INVESTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

EEP Invests Limited is a private company, limited by shares, registered in England and Wales, registration number 12873969. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE. 
The principal activity of the company is that of investing in high-value assets for capital appreciation purposes.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis as the parent company has confirmed to continue to provide necessary funding in order for the company to maintain operations and meet liabilities in full for at least the next 12 months. On this basis, the director is satisfied that the financial statements should be prepared on a going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is pound sterling.

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.

 
2.4

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

 
2.5

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.

3

 
EEP INVESTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.6

Borrowing costs

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

 
2.7

Valuation of investments

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.

 
2.8

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
2.9

Debtors

Short-term debtors are measured at transaction price, 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. 

 
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 only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.


3.


Employees




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

4

 
EEP INVESTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Fixed asset investments





Investment in associate
Other investments
Total

£
£
£



Cost or valuation


At 1 April 2022 (as previously stated)
-
-
-


Prior year adjustment

50
-
50


At 1 April 2022 (as restated)
50
-
50


Additions
-
685,320
685,320


Disposals
-
(5,618,729)
(5,618,729)


Transfers intra group
-
38,923,429
38,923,429



At 31 March 2023
50
33,990,020
33,990,070





Associate


The following was an associate of the company:


Name

Registered office

Class of shares

Holding

Sector Real Estate Limited
United kingdom
Ordinary
50%


5.


Debtors

As restated
2023
2022
£
£


Amounts owed by group undertakings
4,069,063
4,664,988

Amounts owed by associated undertakings
20,000
-

Other debtors
5,153,583
3,248,532

Tax recoverable
1,548,510
1,096,380

10,791,156
9,009,900



6.


Current asset investments

As restated
2023
2022
£
£

Investments in securities
41,455,709
52,414,502


5

 
EEP INVESTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
8,083
7,330



8.


Creditors: Amounts falling due within one year

As restated
2023
2022
£
£

Other loans
10,395,189
16,743,941

Amounts owed to group undertakings
75,240,364
41,419,136

Corporation tax
1,548,510
1,096,380

Other creditors
54,276
-

Accruals
49,200
4,800

87,287,539
59,264,257



9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1 each
100
100



10.


Prior year adjustment

The comparatives in the accounts for current assets investments have been adjusted for presentation and disclosure purposes and therefore adjustments have been made to the retained earnings and director's loan account accordingly.
The fixed asset investment for an amount of £50 was omitted to record in the prior year accounts.


11.


Related party transactions

No disclosure has been made of transactions with other wholly owned group companies in accordance with FRS 102 section 1A paragraph 1AC.35.
Included within other debtors at the year end is an amount of £4,588,178 (2022 restated - £3,248,532) due from the director of the company. The loan is interest free and repayable on demand.
At the year end is an amount of £20,000 (2022 - £Nil) owed from an associated undertaking. The loan is interest free and repayable on demand.

 
6