Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31truefalse2022-04-01No description of principal activity00true 06319108 2022-04-01 2023-03-31 06319108 2021-04-01 2022-03-31 06319108 2023-03-31 06319108 2022-03-31 06319108 c:Director2 2022-04-01 2023-03-31 06319108 d:CurrentFinancialInstruments 2023-03-31 06319108 d:CurrentFinancialInstruments 2022-03-31 06319108 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 06319108 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 06319108 d:ShareCapital 2023-03-31 06319108 d:ShareCapital 2022-03-31 06319108 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 06319108 d:RetainedEarningsAccumulatedLosses 2023-03-31 06319108 d:RetainedEarningsAccumulatedLosses 2022-03-31 06319108 c:OrdinaryShareClass1 2022-04-01 2023-03-31 06319108 c:OrdinaryShareClass1 2023-03-31 06319108 c:OrdinaryShareClass1 2022-03-31 06319108 c:FRS102 2022-04-01 2023-03-31 06319108 c:Audited 2022-04-01 2023-03-31 06319108 c:FullAccounts 2022-04-01 2023-03-31 06319108 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 06319108 c:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 06319108 2 2022-04-01 2023-03-31 06319108 6 2022-04-01 2023-03-31 06319108 d:Associate1 2022-04-01 2023-03-31 06319108 d:Associate1 1 2022-04-01 2023-03-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 06319108






 



UME PFI INVESTMENTS LIMITED

AUDITED
FINANCIAL STATEMENTS

FOR THE YEAR ENDED
31 MARCH 2023
 

















 
UME PFI INVESTMENT LIMITED
REGISTERED NUMBER:06319108

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 5 
4,953,853
4,953,853

Current assets
  

Debtors: amounts falling due within one year
 6 
9,600
5,000

Cash at bank and in hand
 7 
849,102
16,671

  
858,702
21,671

Creditors: Amounts Falling Due Within One Year
 8 
(1,349,947)
(1,294,350)

Net current liabilities
  
 
 
(491,245)
 
 
(1,272,679)

Total assets less current liabilities
  
4,462,608
3,681,174

  

Net assets
  
4,462,608
3,681,174


Capital and reserves
  

Called up share capital 
 9 
194,460
194,460

Profit and loss account
 10 
4,268,148
3,486,714

  
4,462,608
3,681,174


The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 income and retained earnings 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: 




Mr J M Bullough
Director

Date: 21 March 2024

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
UME PFI INVESTMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

UME PFI Investments Limited is a private company, limited by shares and incorporated in England and Wales, registration number 06319108. The registered office is Unit 18 Navigation Way, Ashton-On-Ribble, Preston, England, PR2 2YP. 

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

These financial statements are presented in sterling which is the functional currency of the Company and are rounded to the nearest £.

The following principal accounting policies have been applied:

  
2.2

Compliance with accounting standards

The financial statements have been prepared using FRS102, the financial reporting standard applicable in the UK and Republic of Ireland, including the disclosure and presentation requirements of Section 1A, applicable to small companies. There were no material departures from that standard.

  
2.3

Going concern

The Company was profit-making in the period and is in a net asset position at the year-end date. The financial statements have been prepared on a going concern basis, which means the Company can be expected to meet its liabilities as they fall due for a period of 12 months from the date of signing these financial statements. In assessing the appropriateness of the going concern basis of preparation, the Directors have taken into account the key risks of the business, as well as the Company's business model and availability of cash resources.

 
2.4

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. 
All revenue relates to the Company's principal activity and originates in the United Kingdom.

 
2.5

Interest income

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

 
2.6

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.

Page 2

 
UME PFI INVESTMENT LIMITED
 

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

2.Accounting policies (continued)

 
2.7

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.

 
2.8

Valuation of investments

Investments in associates are measured at cost less accumulated impairment.

 
2.9

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
2.10

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.

 
2.11

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.

 
2.12

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.

 
2.13

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, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are 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
Page 3

 
UME PFI INVESTMENT LIMITED
 

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

2.Accounting policies (continued)


2.13
Financial instruments (continued)

impairment loss is recognised in the Statement of Income and Retained Earnings.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

 
2.14

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.


Judgements in applying accounting policies and key sources of estimation uncertainty

Management have not identified any judgements or key accounting estimates when applying the accounting policies that have a significant effect on the amounts recognised in the financial statements.


4.


Employees

The Company has no employees other than the Directors, who did not receive any remuneration (2022 - £NIL).


5.


Fixed asset investments





Investments in associates
Loans to associates
Total

£
£
£



Cost or valuation


At 1 April 2022
104,107
4,849,746
4,953,853



At 31 March 2023
104,107
4,849,746
4,953,853




The loan notes carry an interest rate of 13.75% and have a final redemption date of 31 December 2039.


Associate


The following was an associate of the Company:


Name

Registered office

Principal activity

Class of shares

Holding

Glasgow Healthcare Facilities (Holdings) Limited
2nd floor, 11 Thistle Street, Edinburgh EH2 1DF
Holding company
Ordinary
25%

Page 4

 
UME PFI INVESTMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
9,600
5,000


Amounts owed by group undertakings are interest free and repayable on demand.


7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
849,102
16,671



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to associate
1,185,807
1,135,807

Group relief payable
145,593
145,677

Other taxation and social security
2,080
2,331

Accruals and deferred income
16,467
10,535

1,349,947
1,294,350


Amounts owed to associate comprise an unsecured intercompany loan which is repayable on demand and accrues interest at 8% per annum.


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



194,460 (2022 - 194,460) Ordinary shares of £1.00 each
194,460
194,460



10.


Reserves

Profit and loss account

The profit and loss account represents cumulative profit and losses net of dividends and other adjustments.

Page 5

 
UME PFI INVESTMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

11.


Related party transactions

The Company is wholly owned by UME PFI Investments (Holdings) Limited and has taken advantage of FRS102 section 33 paragraph 1A not to disclose transactions with wholly owned group members.
The Company has not disclosed transactions with associated undertakings as it is concluded under normal market conditions.


12.


Controlling party

The immediate parent company is UME PFI Investments Holdings Limited, a company registered in England and Wales, and which has no overall controlling party.


13.


Auditors' information

The auditors' report on the financial statements for the year ended 31 March 2023 was unqualified.

In their report, the auditors emphasised the following matter without qualifying their report:

In the previous accounting period the Directors of the Company took advantage of audit exemption under section 477 of the Companies Act. Therefore, the prior year financial statements were not subject to audit.

The audit report was signed on 21 March 2024 by Mark Nelligan (Senior Statutory Auditor) on behalf of Wellden Turnbull Limited.


Page 6