Caseware UK (AP4) 2022.0.179 2022.0.179 2023-04-302023-04-302022-07-20Holding companyfalsetrue2trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14246271 2022-07-19 14246271 2022-07-20 2023-04-30 14246271 2021-07-20 2022-07-19 14246271 2023-04-30 14246271 c:Director1 2022-07-20 2023-04-30 14246271 d:CurrentFinancialInstruments 2023-04-30 14246271 d:Non-currentFinancialInstruments 2023-04-30 14246271 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 14246271 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 14246271 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-04-30 14246271 d:ShareCapital 2023-04-30 14246271 d:RetainedEarningsAccumulatedLosses 2023-04-30 14246271 c:FRS102 2022-07-20 2023-04-30 14246271 c:AuditExempt-NoAccountantsReport 2022-07-20 2023-04-30 14246271 c:FullAccounts 2022-07-20 2023-04-30 14246271 c:PrivateLimitedCompanyLtd 2022-07-20 2023-04-30 14246271 d:Subsidiary1 2022-07-20 2023-04-30 14246271 d:Subsidiary1 1 2022-07-20 2023-04-30 14246271 2 2022-07-20 2023-04-30 14246271 6 2022-07-20 2023-04-30 iso4217:GBP xbrli:pure

Registered number: 14246271









GEORGE STREET HOLDCO LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 APRIL 2023

 
GEORGE STREET HOLDCO LIMITED
REGISTERED NUMBER: 14246271

BALANCE SHEET
AS AT 30 APRIL 2023

2023
Note
£

Fixed assets
  

Investments
 4 
9,232,769

  
9,232,769

Current assets
  

Debtors: amounts falling due within one year
 5 
99,731

  
99,731

Creditors: amounts falling due within one year
 6 
(1,098,668)

Net current (liabilities)/assets
  
 
 
(998,937)

Total assets less current liabilities
  
8,233,832

Creditors: amounts falling due after more than one year
 7 
(8,240,156)

  

Net (liabilities)/assets
  
(6,324)


Capital and reserves
  

Called up share capital 
  
10

Profit and loss account
  
(6,334)

  
(6,324)


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 period 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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
GEORGE STREET HOLDCO LIMITED
REGISTERED NUMBER: 14246271
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2023

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 January 2024.




Geva Dagan
Director

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

Page 2

 
GEORGE STREET HOLDCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

1.


General information

George Street Holdco Limited is a private company limited by shares incorporated in the United Kingdom and registered in England & Wales. The address of the registered office is 14 Berkeley Street, Mayfair, London, W1J 8DX and its principal place of business is the same as this address.

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 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 judgment in applying the Company's accounting policies.

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.

 
2.3

Interest income

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

 
2.4

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.

 
2.5

Borrowing costs

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

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

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 statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.7

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.

Page 3

 
GEORGE STREET HOLDCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.8

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.

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Investments in non-derivative instruments that are equity to the issuer are measured:
at fair value with changes recognised in the statement of comprehensive income if the shares are publicly traded or their fair value can otherwise be measured reliably;
at cost less impairment for all other investments.

Financial assets that are 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 statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a 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.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

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.

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or income as appropriate. The company
Page 4

 
GEORGE STREET HOLDCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

2.Accounting policies (continued)


2.9
Financial instruments (continued)

does not currently apply hedge accounting for interest rate and foreign exchange derivatives.


3.


Employees

The average monthly number of employees, including the directors, during the period was as follows:


        2023
            No.






Directors
2


4.


Fixed asset investments





Investments in subsidiary companies
Loans to subsidiaries
Total

£
£
£



Cost or valuation


Additions
1
9,232,768
9,232,769



At 30 April 2023
1
9,232,768
9,232,769





Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Class of shares

Holding

80 George Street Limited
Ordinary
100%

The aggregate of the share capital and reserves as at 30 April 2023 and the profit or loss for the period ended on that date for the subsidiary undertaking were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)

80 George Street Limited
(520,943)
(520,944)

Page 5

 
GEORGE STREET HOLDCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

5.


Debtors

2023
£


Other debtors
99,731

99,731



6.


Creditors: Amounts falling due within one year

2023
£

Amounts owed to group undertakings
1

Other creditors
1,096,667

Accruals and deferred income
2,000

1,098,668



7.


Creditors: Amounts falling due after more than one year

2023
£

Other loans
8,240,156

8,240,156



8.


Loans


Analysis of the maturity of loans is given below:


2023
£



Amounts falling due 2-5 years

Other loans
8,240,156


8,240,156


8,240,156


Page 6

 
GEORGE STREET HOLDCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

9.


Related party transactions

The company has made a loan to its subsidiary company 80 George Street Limited. At 30 April 2023 the outstanding balance was £9,232,768.

 
Page 7