Caseware UK (AP4) 2022.0.179 2022.0.179 2023-07-312023-07-312022-08-01falseNo description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10280075 2022-08-01 2023-07-31 10280075 2021-08-01 2022-07-31 10280075 2023-07-31 10280075 2022-07-31 10280075 2021-08-01 10280075 c:Director1 2022-08-01 2023-07-31 10280075 d:CurrentFinancialInstruments 2023-07-31 10280075 d:CurrentFinancialInstruments 2022-07-31 10280075 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 10280075 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 10280075 d:ShareCapital 2023-07-31 10280075 d:ShareCapital 2022-07-31 10280075 d:SharePremium 2023-07-31 10280075 d:SharePremium 2022-07-31 10280075 d:RetainedEarningsAccumulatedLosses 2023-07-31 10280075 d:RetainedEarningsAccumulatedLosses 2022-07-31 10280075 c:FRS102 2022-08-01 2023-07-31 10280075 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 10280075 c:FullAccounts 2022-08-01 2023-07-31 10280075 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 10280075 d:Non-currentFinancialInstruments d:ListedExchangeTraded 2023-07-31 10280075 d:Non-currentFinancialInstruments d:ListedExchangeTraded 2022-07-31 10280075 d:Non-currentFinancialInstruments d:UnlistedNon-exchangeTraded 2023-07-31 10280075 d:Non-currentFinancialInstruments d:UnlistedNon-exchangeTraded 2022-07-31 10280075 d:AcceleratedTaxDepreciationDeferredTax 2023-07-31 10280075 d:AcceleratedTaxDepreciationDeferredTax 2022-07-31 10280075 d:TaxLossesCarry-forwardsDeferredTax 2023-07-31 10280075 d:TaxLossesCarry-forwardsDeferredTax 2022-07-31 10280075 2 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure

Registered number: 10280075









PAISE INVESTMENTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

 
PAISE INVESTMENTS LIMITED
REGISTERED NUMBER: 10280075

BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
6,033,642
5,676,434

  
6,033,642
5,676,434

Current assets
  

Cash at bank and in hand
  
34,968
151,202

  
34,968
151,202

Creditors: amounts falling due within one year
 5 
(12,358)
(10,160)

Net current assets
  
 
 
22,610
 
 
141,042

Provisions for liabilities
  

Deferred tax
  
-
(1,177,210)

Net assets
  
6,056,252
4,640,266


Capital and reserves
  

Called up share capital 
  
3
3

Share premium account
  
4,635,898
4,635,898

Retained earnings
  
1,420,351
4,365

Shareholders' funds
  
6,056,252
4,640,266


Page 1

 
PAISE INVESTMENTS LIMITED
REGISTERED NUMBER: 10280075
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2023

The directors consider 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 directors acknowledge their 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 and delivered 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 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: 





The Honourable I M B Burnell
Director

Date: 23 April 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
PAISE INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

Paise Investments Limited is a private company, limited by shares, domiciled and incorporated in England and Wales (registered number: 10280075). The registered office address is 14th Floor, 103 Colmore Row, Birmingham, B3 3AG.
The Company's functional and presentational currency is GBP.

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 following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis.
The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and has concluded that there are no material uncertainties that may cast doubt on the Company's ability to continue as a going concern.

 
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.

 
2.4

Interest income

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

Page 3

 
PAISE INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.5

Financial instruments

Financial assets and financial liabilities are recognised in the Balance Sheet when the Company becomes a party to the contractual provisions of the instrument.
Investments in listed shares are classified as basic financial instruments. They are initially
measured at transaction price and subsequently measured at fair value, with changes in fair
value being recognised in profit or loss. Fair value is determined using the quoted bid price at
the balance sheet date.
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 profit or loss for the period. Where market value cannot be reliably
determined, such investments are stated at historic cost less impairment.
Trade and other debtors and creditors are classified as basic financial instruments and
measured on initial recognition at transaction price. Debtors and creditors are subsequently
measured at amortised cost using the effective interest rate method. A provision is established
when there is objective evidence that the Company will not be able to collect all amounts due.
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank, short-term bank deposits with an original maturity of three months or less and bank overdrafts which are an integral part of the Company’s cash management.
Financial liabilities and equity instruments issued by the Company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Equity instruments issued by the Company are recorded at the proceeds received, net of direct issue costs.

Page 4

 
PAISE INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

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.

 
2.7

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.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 -2).

Page 5

 
PAISE INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

4.


Fixed asset investments





Listed investments
Unlisted investments
Total

£
£
£



Valuation


At 1 August 2022
1,017,354
4,659,080
5,676,434


Additions
920,850
-
920,850


Disposals
(564,343)
-
(564,343)


Revaluations
701
-
701



At 31 July 2023
1,374,562
4,659,080
6,033,642





5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
-
972

Other creditors
4,018
4,018

Accruals and deferred income
8,340
5,170

12,358
10,160


Page 6

 
PAISE INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

6.


Deferred taxation




2023
2022


£

£






At beginning of year
(1,177,210)
-


Charged to profit or loss
1,177,210
(1,177,210)



At end of year
-
(1,177,210)

The deferred taxation balance is made up as follows:

2023
2022
£
£


Capital gains and losses
-
(1,180,578)

Losses and other deductions
-
3,368

-
(1,177,210)


7.


Related party transactions

During the year, the directors made loans to the Company totalling £Nil (2022 - £Nil). At the year end, the amount outstanding due to the directors was £4,018 (2022 - £4,018). The loans are unsecured, interest free and repayable on demand.


8.


Controlling party

The directors do not consider there to be an ultimate controlling party.

 
Page 7