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Registered number: 02659801












KATEVA MANAGEMENT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

 

KATEVA MANAGEMENT LIMITED

CONTENTS



Page
Company information
 
 
1
Balance sheet
 
 
2 - 3
Notes to the financial statements
 
 
4 - 8


 

KATEVA MANAGEMENT LIMITED
 
COMPANY INFORMATION


Directors
E Tausig 
K Tausig 
P Tausig 




Company secretary
P Tausig



Registered number
02659801



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:02659801
KATEVA MANAGEMENT LIMITED

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Investments
 4 
285,000
285,000

Investment property
 5 
5,000,000
5,000,000

  
5,285,000
5,285,000

Current assets
  

Debtors: amounts falling due within one year
 6 
9,138
2,388

Cash at bank and in hand
  
138,775
128,001

  
147,913
130,389

Creditors: amounts falling due within one year
 7 
(183,037)
(201,700)

Net current liabilities
  
 
 
(35,124)
 
 
(71,311)

Total assets less current liabilities
  
5,249,876
5,213,689

Provisions for liabilities
  

Deferred tax
  
(896,987)
(896,987)

  
 
 
(896,987)
 
 
(896,987)

Net assets
  
4,352,889
4,316,702


Capital and reserves
  

Called up share capital 
 8 
100
100

Revaluation reserve
  
3,414,544
3,414,544

Profit and loss account
  
938,245
902,058

  
4,352,889
4,316,702


Page 2


 
REGISTERED NUMBER:02659801
KATEVA MANAGEMENT LIMITED
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022

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 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: 




K Tausig
Director

Date: 6 November 2023

The notes on pages 4 to 8 form part of these financial statements.
Page 3

 

KATEVA MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

Kateva Management Limited is a private company limited by shares incorporated in England and Wales. Its registered address 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 following principal accounting policies have been applied:

  
2.2

Exemption from preparing consolidated financial statements

The company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and group are considered eligible for the exemption to prepare consolidated accounts.
The financial statements present information about the company as an individual entity and not about its group.

 
2.3

Going concern

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

  
2.4

Revenue

Turnover comprises rental income, service charges and other recoveries from tenants of the company’s investment properties net of value added tax. Rental income is recognised on an accruals basis in the period in which it is earned, in accordance with the terms of the lease.

  
2.5

Interest income

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

Page 4

 

KATEVA MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

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 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.

  
2.7

Investment property

Investment property, which is property held to earn rentals and for capital appreciation, have initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less impairment.

  
2.9

Cash at bank and in hand

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

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

Page 5

 

KATEVA MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

  
2.11

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. 
Financial assets
Basic financial assets, including other debtors, cash and bank balances are recognised at transaction price.
Financial liabilities
Basic financial liabilities, including other creditors, loans from fellow group companies are initially recognised at transaction price.
.
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.
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. 
If a transfer does not result in derecognition because the company has retained significant risks and rewards of ownership of the transferred asset, the company continues to recognise the transferred asset in its entirety and recognises a financial liability for the consideration received. The asset and
Page 6

 

KATEVA MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

liability are not offset. In subsequent periods, the company recognises any income on the transferred asset and any expense incurred on the financial liability. 
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.
 


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2021 - 3).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost


At 1 January 2022
285,000



At 31 December 2022
285,000





5.


Investment property


Freehold investment property

£



Valuation


At 1 January 2022
5,000,000



At 31 December 2022
5,000,000

The 2022 valuations were made by a director, on an open market value for existing use basis.






Page 7

 

KATEVA MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

6.


Debtors

2022
2021
£
£


Other debtors
9,138
2,388



7.


Creditors: amounts falling due within one year

2022
2021
£
£

Amounts owed to group undertakings
153,976
173,271

Corporation tax
10,130
17,617

Other taxation and social security
-
1,904

Other creditors
11,421
6,508

Accruals and deferred income
7,510
2,400

183,037
201,700



8.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



86 (2021 - 86) Ordinary shares of £1.00 each
86
86
12 (2021 - 12) Ordinary 'A' shares of £1.00 each
12
12
1 (2021 - 1) Ordinary 'B' share of £1.00
1
1
1 (2021 - 1) Ordinary 'C' share of £1.00
1
1

100

100



9.


Related party transactions

The company has taken advantage of the exemption contained in FRS 102 section 33 "Related Party Disclosures" from disclosing transactions with entities which are a wholly owned part of the group.
At the year end date, included within creditors is an amount of £153,976 (2021: £173,271) due to its wholly-owned subsidary. The loan is provided interest free and is unsecured. There are no formal terms and conditions regarding repayment of the loan.
Included within other creditors is an amount of £9,371 (2021: £4,458) due to a director. The loan is provided interest free and is unsecured. There are no formal terms and conditions regarding repayment of the loan.
Included within other debtors is an amount of £7,088 (2021: £338) due from the directors. The loans were repaid in full after the balance sheet date.

 
Page 8