Caseware UK (AP4) 2023.0.135 2023.0.135 2023-05-312023-05-31truetrueNo description of principal activity2022-05-20falsefalse1falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14121414 2022-05-19 14121414 2022-05-20 2023-05-31 14121414 2021-06-01 2022-05-19 14121414 2023-05-31 14121414 c:Director1 2022-05-20 2023-05-31 14121414 c:RegisteredOffice 2022-05-20 2023-05-31 14121414 d:CurrentFinancialInstruments 2023-05-31 14121414 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 14121414 d:ShareCapital 2023-05-31 14121414 d:RetainedEarningsAccumulatedLosses 2023-05-31 14121414 c:OrdinaryShareClass1 2022-05-20 2023-05-31 14121414 c:OrdinaryShareClass1 2023-05-31 14121414 c:FRS102 2022-05-20 2023-05-31 14121414 c:AuditExempt-NoAccountantsReport 2022-05-20 2023-05-31 14121414 c:FullAccounts 2022-05-20 2023-05-31 14121414 c:PrivateLimitedCompanyLtd 2022-05-20 2023-05-31 14121414 6 2022-05-20 2023-05-31 14121414 7 2022-05-20 2023-05-31 14121414 e:PoundSterling 2022-05-20 2023-05-31 xbrli:shares iso4217:GBP xbrli:pure


Registered number: 14121414












MELROSE CAMBRIDGE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

 

MELROSE CAMBRIDGE LIMITED

CONTENTS



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


 

MELROSE CAMBRIDGE LIMITED
 
COMPANY INFORMATION


Director
M A Foster 




Registered number
14121414



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:14121414
MELROSE CAMBRIDGE LIMITED

BALANCE SHEET
AS AT 31 MAY 2023

2023
Note
£

Fixed assets
  

Investments
 4 
21,436

  
21,436

Current assets
  

Debtors: amounts falling due within one year
 5 
2,122,264

Creditors: amounts falling due within one year
 6 
(2,254,287)

Net current liabilities
  
 
 
(132,023)

Total assets less current liabilities
  
(110,587)

Net liabilities
  
(110,587)


Capital and reserves
  

Called up share capital 
 7 
100

Profit and loss account
  
(110,687)

Total deficit
  
(110,587)


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 period 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: 




M A Foster
Director

Date: 2 April 2024

Page 2

 

MELROSE CAMBRIDGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

1.


General information

Melrose Cambridge Limited is a private company limited by shares incorporated in England and Wales. The address of its registered office is 16 Great Queen Street, Covent Garden, London, United Kingdom, WC2B 5AH.
The company was incorporated on 20 May 2022 and commenced trading on the same date.
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 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 a going concern basis notwithstanding the fact that the company has a deficiency on shareholders' funds at the end of the year. The directors consider this basis to be appropriate as the company has sufficient facilities available from its shareholders to fund its working capital requirements for a period of at least twelve months from the date these financial statements were approved.

 
2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.


2.4

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. 

Page 3

 

MELROSE CAMBRIDGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

2.Accounting policies (continued)





Financial instruments (continued)

Financial assets
Basic financial assets, including intercompany working capital balances, and intercompany financing 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 other creditors and loans from fellow group companies 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 4

 

MELROSE CAMBRIDGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 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.

 
2.5

Share capital

Ordinary shares are classified as equity.


3.


Employees




The average monthly number of employees, including directors, during the period was 1.


4.


Fixed asset investments





Unlisted investments

£



Cost


Additions
21,436



At 31 May 2023
21,436




Page 5

 

MELROSE CAMBRIDGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

5.


Debtors

2023
£


Amounts owed by group undertakings
100

Other debtors
2,122,164

2,122,264



6.


Creditors: Amounts falling due within one year

2023
£

Amounts owed to group undertakings
2,143,600

Other creditors
107,087

Accruals
3,600

2,254,287



7.


Share capital

2023
£
Allotted, called up and fully paid


1 Ordinary share capital share of £100.00
100


On incorporation the company issued 100 Ordinary shares of £1 each at par in order to establish the capital structure of the company.


8.


Related party transactions

During the year, the company’s parent company advanced £2,143,600 which remained outstanding at the balance sheet date. The loan is provided interest free and is repayable on demand.
Included within other debtors is an amount of £2,122,164 owed by a limited liability partnership in which the company is a member. The loan is provided interest free and is repayable on demand.

 
Page 6