Caseware UK (AP4) 2023.0.135 2023.0.135 2023-01-312023-01-31truefalse12022-02-01investment company1trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09380638 2022-02-01 2023-01-31 09380638 2021-02-01 2022-01-31 09380638 2023-01-31 09380638 2022-01-31 09380638 c:Director1 2022-02-01 2023-01-31 09380638 c:RegisteredOffice 2022-02-01 2023-01-31 09380638 d:FurnitureFittings 2022-02-01 2023-01-31 09380638 d:FurnitureFittings 2023-01-31 09380638 d:FurnitureFittings 2022-01-31 09380638 d:ComputerEquipment 2022-02-01 2023-01-31 09380638 d:ComputerEquipment 2023-01-31 09380638 d:ComputerEquipment 2022-01-31 09380638 d:CurrentFinancialInstruments 2023-01-31 09380638 d:CurrentFinancialInstruments 2022-01-31 09380638 d:CurrentFinancialInstruments 1 2023-01-31 09380638 d:CurrentFinancialInstruments 1 2022-01-31 09380638 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 09380638 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 09380638 d:ShareCapital 2023-01-31 09380638 d:ShareCapital 2022-01-31 09380638 d:RevaluationReserve 2022-02-01 2023-01-31 09380638 d:RevaluationReserve 2023-01-31 09380638 d:RevaluationReserve 2022-01-31 09380638 d:RetainedEarningsAccumulatedLosses 2022-02-01 2023-01-31 09380638 d:RetainedEarningsAccumulatedLosses 2023-01-31 09380638 d:RetainedEarningsAccumulatedLosses 2022-01-31 09380638 c:OrdinaryShareClass1 2022-02-01 2023-01-31 09380638 c:OrdinaryShareClass1 2023-01-31 09380638 c:OrdinaryShareClass1 2022-01-31 09380638 c:FRS102 2022-02-01 2023-01-31 09380638 c:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 09380638 c:FullAccounts 2022-02-01 2023-01-31 09380638 c:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 09380638 d:OtherDeferredTax 2023-01-31 09380638 d:OtherDeferredTax 2022-01-31 09380638 2 2022-02-01 2023-01-31 09380638 6 2022-02-01 2023-01-31 09380638 f:PoundSterling 2022-02-01 2023-01-31 xbrli:shares iso4217:GBP xbrli:pure


Registered number: 09380638












BANNENBERG INVESTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

 

BANNENBERG INVESTS LIMITED

CONTENTS



Page
Company information
 
1
Balance sheet
 
2 - 3
Notes to the financial statements
 
4 - 12


 

BANNENBERG INVESTS LIMITED
 
COMPANY INFORMATION


Director
C Bannenberg 




Registered number
09380638



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:09380638
BANNENBERG INVESTS LIMITED

BALANCE SHEET
AS AT 31 JANUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 5 
1,368,356
1,326,355

Current assets
  

Debtors: amounts falling due within one year
 6 
3,976
4,250

Cash at bank and in hand
  
20,661
240,969

  
24,637
245,219

Creditors: amounts falling due within one year
 7 
(1,642,956)
(1,775,663)

Net current liabilities
  
 
 
(1,618,319)
 
 
(1,530,444)

Total assets less current liabilities
  
(249,963)
(204,089)

Provisions for liabilities
  

Deferred tax
 8 
(19,800)
(36,000)

  
 
 
(19,800)
 
 
(36,000)

Net liabilities
  
(269,763)
(240,089)


Capital and reserves
  

Called up share capital 
 9 
1,000
1,000

Fair value reserve
 10 
59,555
105,088

Profit and loss account
 10 
(330,318)
(346,177)

Net deficit
  
(269,763)
(240,089)


Page 2


 
REGISTERED NUMBER:09380638
BANNENBERG INVESTS LIMITED
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 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 signed by the director and authorised for issue: 




C Bannenberg
Director

Date: 17 April 2024

The notes on pages 4 to 12 form part of these financial statements.

Page 3

 

BANNENBERG INVESTS LIMITED

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

1.


General information

Bannenberg Invests 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, WC2B 5AH.
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 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 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.

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 total equity at the end of the year. The director considers this basis to be appropriate as the company has received a letter of financial support from its shareholder confirming that financial support will continue for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. 

 
2.3

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.

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.

Page 4

 

BANNENBERG INVESTS LIMITED

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

2.Accounting policies (continued)

 
2.4

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is 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.

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.

Foreign exchange gains and losses are presented in profit or loss within 'administrative expenses'.

 
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.

 
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.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

Page 5

 

BANNENBERG INVESTS LIMITED

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

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

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:

Fixtures and fittings
-
over 5 years
Computer equipment
-
over 3 years

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.

 
2.8

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.9

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 


2.10

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 6

 

BANNENBERG INVESTS LIMITED

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

2.Accounting policies (continued)





Financial instruments (continued)

Financial assets
Basic financial assets, including other debtors and bank balances, 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 trade and other creditors, 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 7

 

BANNENBERG INVESTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 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.

  
2.11

Share capital

Ordinary shares are classified as equity.

Page 8

 

BANNENBERG INVESTS LIMITED

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

2.Accounting policies (continued)

 
2.12

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years.
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 arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.
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.


3.


Employees



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

Page 9

 

BANNENBERG INVESTS LIMITED

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

4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost 


At 1 February 2022
5,855
5,016
10,871


Disposals
(5,855)
(5,016)
(10,871)



At 31 January 2023

-
-
-





At 1 February 2022
5,855
5,016
10,871


Disposals
(5,855)
(5,016)
(10,871)



At 31 January 2023

-
-
-



Net book value



At 31 January 2023
-
-
-



At 31 January 2022
-
-
-

Page 10

 

BANNENBERG INVESTS LIMITED

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

5.


Fixed asset investments





Listed investments

£



Valuation


At 1 February 2022
1,326,355


Additions
887,525


Disposals
(763,543)


Fair value movements
(81,981)



At 31 January 2023
1,368,356


6.


Debtors

2023
2022
£
£


Forward currency contracts
664
4,250

Accrued income
3,312
-

3,976
4,250



7.


Creditors: amounts falling due within one year

2023
2022
£
£

Trade creditors
-
223

Other creditors
1,629,756
1,768,240

Accruals
13,200
7,200

1,642,956
1,775,663



8.


Deferred taxation




2023


£



At beginning of year
(36,000)


Charged to profit or loss
16,200



At end of year
(19,800)

Page 11

 

BANNENBERG INVESTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
 
8.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Change in fair value of fixed asset investments
(19,800)
(36,000)


The deferred tax liability above is expected to reverse within 12 months.


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,000 (2022 - 1,000) Ordinary shares of £1.00 each
1,000
1,000



10.


Reserves

Fair value reserve

The fair value reserve is non-distributable and arose from increase in fair value of fixed assets investments, net of deferred taxation.

Profit and loss account

The profit and loss account comprise distributable reserves.


11.


Related party transactions

Other creditors of £1,629,756 (2022: £1,768,240) comprise an amount owed to the director. This is unsecured and is provided interest-free. There are no formal terms and conditions regarding the repayment of the loan.

 
Page 12