Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-292023-06-292022-06-30falseNo description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10840307 2022-06-30 2023-06-29 10840307 2021-06-30 2022-06-29 10840307 2023-06-29 10840307 2022-06-29 10840307 c:Director1 2022-06-30 2023-06-29 10840307 d:CurrentFinancialInstruments 2023-06-29 10840307 d:CurrentFinancialInstruments 2022-06-29 10840307 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-29 10840307 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-29 10840307 d:ShareCapital 2023-06-29 10840307 d:ShareCapital 2022-06-29 10840307 d:RetainedEarningsAccumulatedLosses 2023-06-29 10840307 d:RetainedEarningsAccumulatedLosses 2022-06-29 10840307 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-06-29 10840307 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-06-29 10840307 c:OrdinaryShareClass1 2022-06-30 2023-06-29 10840307 c:OrdinaryShareClass1 2023-06-29 10840307 c:OrdinaryShareClass1 2022-06-29 10840307 c:FRS102 2022-06-30 2023-06-29 10840307 c:AuditExempt-NoAccountantsReport 2022-06-30 2023-06-29 10840307 c:FullAccounts 2022-06-30 2023-06-29 10840307 c:PrivateLimitedCompanyLtd 2022-06-30 2023-06-29 10840307 2 2022-06-30 2023-06-29 10840307 6 2022-06-30 2023-06-29 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10840307









90 INVESTMENTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 JUNE 2023

 
90 INVESTMENTS LIMITED
REGISTERED NUMBER: 10840307

BALANCE SHEET
AS AT 29 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
171,362
157,275

  
171,362
157,275

Current assets
  

Debtors: amounts falling due within one year
 5 
4,630
60,839

Cash at bank and in hand
  
91,496
173,248

  
96,126
234,087

Creditors: amounts falling due within one year
 6 
(407,495)
(526,785)

Net current liabilities
  
 
 
(311,369)
 
 
(292,698)

Total assets less current liabilities
  
(140,007)
(135,423)

  

Net liabilities
  
(140,007)
(135,423)


Capital and reserves
  

Called up share capital 
 8 
1
1

Profit and loss account
  
(140,008)
(135,424)

  
(140,007)
(135,423)


Page 1

 
90 INVESTMENTS LIMITED
REGISTERED NUMBER: 10840307
    
BALANCE SHEET (CONTINUED)
AS AT 29 JUNE 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 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 on 17 April 2024.




N Nathwani
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
90 INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JUNE 2023

1.


General information

The Company is a private company, limited by shares, incorporated and domiciled in England within the United Kingdom, registration number 10840307.  The Company's registered office is 21 Wainwright Street, Aston, Birmingham, B6 5TJ.
The financial statements are presented in sterling which is the functional currency of the company and the 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.

Cash flow
Under Financial Reporting Standard 102, the company is exempt from the requirement to prepare a cash flow statement on the grounds that it qualifies as a small company.

The following principal accounting policies have been applied:

 
2.2

Going concern

The investment portfolio previously suffered a reduction in market value due to the uncertainty surrounding Brexit, COVID-19 and the cost of living crisis as such suffered some losses over the last few years resulting in net liabilities.  The portfolio is expected to improve going forward, with the director continuing to support the company and as such the accounts have been prepared on a going concern basis.

 
2.3

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 3

 
90 INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JUNE 2023

2.Accounting policies (continued)

 
2.4

Interest income

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

 
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.

 
2.6

Borrowing costs

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

 
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 listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
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.

Page 4

 
90 INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JUNE 2023

2.Accounting policies (continued)

 
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 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

Page 5

 
90 INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JUNE 2023

2.Accounting policies (continued)


2.12
Financial instruments (continued)

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 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.


3.


Employees

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

Page 6

 
90 INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JUNE 2023

4.


Fixed asset investments





Listed investments

£



Cost or valuation


At 30 June 2022
157,275


Additions
244,032


Disposals
(226,258)


Revaluations
(3,687)



At 29 June 2023
171,362





5.


Debtors

2023
2022
£
£


Other debtors
-
60,000

Prepayments and accrued income
4,630
839

4,630
60,839



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
-
2

Corporation tax
1,659
946

Other creditors
403,856
523,857

Accruals and deferred income
1,980
1,980

407,495
526,785


Page 7

 
90 INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JUNE 2023

7.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
171,362
157,275

Financial assets that are measured at undiscounted amount payable
96,127
234,086

267,489
391,361


Financial liabilities


Financial liabilities that are measured at undiscounted amount payable
25,356
25,356


Financial assets measured at fair value through profit or loss comprise investments held at market value.
Financial assets that are measured at undiscounted amount payable comprise cash at bank, other debtors and accrued income.
Financial liabilites measured at fair value through profit or loss comprise bank loans.
Financial liabilities that are measured at undiscounted amount payable comprise bank overdrafts  other creditors and accruals.


8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary share of £1.00
1
1



9.


Related party transactions

During the period the company received a loan from a director of £Nil (2022 - £1,032) and made repayments of £120,000 (2022 - £50,426).  The balance due to the director at 29 June 2023 was £380,482 (2022 - £500,482).  Loans are interest free and repayable on demand.

 
Page 8