Company registration number 01593794 (England and Wales)
LONDON INDEPENDENT HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
LONDON INDEPENDENT HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
LONDON INDEPENDENT HOLDINGS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Capital and reserves
Called up share capital
18,281
18,281
Profit and loss reserves
(18,281)
(18,281)
Total equity
-
0
-
0

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 21 March 2024 and are signed on its behalf by:
Mr Christophe Cognee
Director
Company Registration No. 01593794
LONDON INDEPENDENT HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

London Independent Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3-4 Connett House, 1 Teesdale Street, London, United Kingdom, E2 6GF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

 

The company has not traded throughout the current year and previous year.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Profit and loss account

The company has not traded during the year or the preceding financial period. During this time, the company received no income and incurred no expenditure and therefore no Profit and loss account is presented in these financial statements.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Financial instruments

The company only enters into Basic financial instrument transactions.

 

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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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.

Classification of financial liabilities

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.

LONDON INDEPENDENT HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.6
Derivatives

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship.

 

A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with a negative fair value is recognised as a financial liability.

1.7
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
-
0
-
0
4
Financial commitments, guarantees and contingent liabilities

The company is party to a cross guarantee as security for the bank borrowings of both its holding company and its fellow subsidiaries: GSF GB Limited, GSF Sandylight Limited and GSF (London) Limited.

LONDON INDEPENDENT HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
5
Parent company

The company's immediate parent company is GSF GB Limited, which holds 100% of the ordinary share capital.

 

The company's ultimate parent company is TowerBrook Capital Partners Limited which is registered in England, the accounts of which are available from 1 St. James's Market, Carlton St, London, England, SW1Y 4AH. Trévise Holdings 3 is the smallest and largest group to consolidate the results of the company.

2023-12-312023-01-01true21 March 2024CCH SoftwareCCH Accounts Production 2023.300No description of principal activityMr G MargaletMr Christophe Cogneefalse015937942023-01-012023-12-31015937942023-12-3101593794core:ShareCapital2023-12-3101593794core:ShareCapital2022-12-3101593794core:RetainedEarningsAccumulatedLosses2023-12-3101593794core:RetainedEarningsAccumulatedLosses2022-12-31015937942022-12-3101593794bus:Director22023-01-012023-12-31015937942022-01-012022-12-3101593794bus:EntityNoLongerTradingButTradedInPast2023-01-012023-12-3101593794bus:PrivateLimitedCompanyLtd2023-01-012023-12-3101593794bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3101593794bus:FRS1022023-01-012023-12-3101593794bus:AuditExempt-NoAccountantsReport2023-01-012023-12-3101593794bus:Director12023-01-012023-12-3101593794bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP