Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-01-01false3false3truetrue 12286247 2022-01-01 2022-12-31 12286247 2021-01-01 2021-12-31 12286247 2022-12-31 12286247 2021-12-31 12286247 c:Director5 2022-01-01 2022-12-31 12286247 d:CurrentFinancialInstruments 2022-12-31 12286247 d:CurrentFinancialInstruments 2021-12-31 12286247 d:Non-currentFinancialInstruments 2022-12-31 12286247 d:Non-currentFinancialInstruments 2021-12-31 12286247 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 12286247 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 12286247 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 12286247 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 12286247 d:ShareCapital 2022-12-31 12286247 d:ShareCapital 2021-12-31 12286247 d:RetainedEarningsAccumulatedLosses 2022-12-31 12286247 d:RetainedEarningsAccumulatedLosses 2021-12-31 12286247 c:FRS102 2022-01-01 2022-12-31 12286247 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 12286247 c:FullAccounts 2022-01-01 2022-12-31 12286247 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 12286247 2 2022-01-01 2022-12-31 12286247 6 2022-01-01 2022-12-31 12286247 e:USDollar 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 12286247










GROVE OAK HOLDINGS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
GROVE OAK HOLDINGS LIMITED
REGISTERED NUMBER: 12286247

BALANCE SHEET
AS AT 31 DECEMBER 2022

As restated
2022
2021
Note
$
$

Fixed assets
  

Investments
 4 
520,000
-

  
520,000
-

Current assets
  

Debtors: amounts falling due within one year
 5 
2,241,104
2,701,560

Cash at bank and in hand
  
781
130

  
2,241,885
2,701,690

Creditors: amounts falling due within one year
 6 
(4,275)
(4,649)

Net current assets
  
 
 
2,237,610
 
 
2,697,041

Total assets less current liabilities
  
2,757,610
2,697,041

Creditors: amounts falling due after more than one year
 7 
(2,763,147)
(2,706,830)

  

Net liabilities
  
(5,537)
(9,789)


Capital and reserves
  

Called up share capital 
  
129
129

Profit and loss account
  
(5,666)
(9,918)

  
(5,537)
(9,789)

Page 1

 
GROVE OAK HOLDINGS LIMITED
REGISTERED NUMBER: 12286247
    
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 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: 



P Rothwell
Director
Date: 8 April 2024

The notes on pages 3 to 7 form part of these financial statements.
Page 2

 
GROVE OAK HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

Grove Oak Holdings Limited (12286247) is a private company limited by shares and incorporated in
England and Wales. The registered office is 14th Floor, 33 Cavendish Square, London, W1G 0PW.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis based on the continued
support of the company's creditors and financiers which, in the opinion of the directors, the company
has for the foreseeable future.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is USD.

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.

 
2.5

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.

Page 3

 
GROVE OAK HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
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 income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.7

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.9

Cash and cash equivalents

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

Creditors

Short-term creditors are measured at the transaction price.
Page 4

 
GROVE OAK HOLDINGS 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 the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Page 5

 
GROVE OAK HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)


2.11
Financial instruments (continued)


Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees




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


4.


Fixed asset investments





Investments in associates

$



Cost


Additions
520,000



At 31 December 2022
520,000





5.


Debtors

As restated
2022
2021
$
$


Other debtors
2,241,104
2,701,560


Page 6

 
GROVE OAK HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

6.


Creditors: Amounts falling due within one year

As restated
2022
2021
$
$

Trade creditors
2,465
3,032

Accruals and deferred income
1,810
1,617

4,275
4,649



7.


Creditors: Amounts falling due after more than one year

As restated
2022
2021
$
$

Amounts owed to group undertakings
2,763,147
2,706,830



8.


Prior year adjustment

The prior year figures have been restated to reflect the change in functional and presentational currency to USD. This has not resulted in a change to reserves or profit for the prior year.
 
Page 7