Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31true3trueNo description of principal activitytrue2023-01-014 11861854 2023-01-01 2023-12-31 11861854 2022-01-01 2022-12-31 11861854 2023-12-31 11861854 2022-12-31 11861854 c:Director2 2023-01-01 2023-12-31 11861854 d:CurrentFinancialInstruments 2023-12-31 11861854 d:CurrentFinancialInstruments 2022-12-31 11861854 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11861854 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11861854 d:ShareCapital 2023-12-31 11861854 d:ShareCapital 2022-12-31 11861854 d:SharePremium 2023-12-31 11861854 d:SharePremium 2022-12-31 11861854 d:RetainedEarningsAccumulatedLosses 2023-12-31 11861854 d:RetainedEarningsAccumulatedLosses 2022-12-31 11861854 c:EntityNoLongerTradingButTradedInPast 2023-01-01 2023-12-31 11861854 c:FRS102 2023-01-01 2023-12-31 11861854 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11861854 c:FullAccounts 2023-01-01 2023-12-31 11861854 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11861854 6 2023-01-01 2023-12-31 11861854 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 11861854










PHINSYS GROUP HOLDINGS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
PHINSYS GROUP HOLDINGS LIMITED
REGISTERED NUMBER: 11861854

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 5 
2,516,242
2,502,172

Current assets
  

Debtors: amounts falling due within one year
 6 
1
1

  
1
1

Creditors: amounts falling due within one year
 7 
(23,663)
(7,004)

Net current liabilities
  
 
 
(23,662)
 
 
(7,003)

Total assets less current liabilities
  
2,492,580
2,495,169

  

Net assets
  
2,492,580
2,495,169


Capital and reserves
  

Called up share capital 
  
1,925
1,925

Share premium account
  
2,500,248
2,500,248

Profit and loss account
  
(9,593)
(7,004)

  
2,492,580
2,495,169


Page 1

 
PHINSYS GROUP HOLDINGS LIMITED
REGISTERED NUMBER: 11861854
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

For the year ended 31 December 2023 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

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: 




R Tyler
Director

Date: 18 April 2024

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
PHINSYS GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Phinsys Group Holdings Limited is a private company limited by shares incorporated in England and Wales in the United Kingdom.
The address of the registered office is 70 Fenchurch Street, London, United Kingdon, EC3M 4BS.
The financial statements are presented in Sterling which is the functional currency of the company and rounded to the nearest £1.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

 
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

Going concern

The directors have assessed that there are no significant doubts in the company's ability to continue as a going concern. 
The directors draw attention to the negative profit and loss account, but remain happy that other companies within the group will assist should the need arise and therefore the financial statements continue to be prepared on a going concern basis.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.5

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

 
PHINSYS GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

No significant judgements have been made by management in preparing these financial statements.

Page 4

 
PHINSYS GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 3).


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
2,502,172


Additions
14,070



At 31 December 2023
2,516,242





6.


Debtors

2023
2022
£
£


Other debtors
1
1

1
1



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
21,432
4,543

Accruals and deferred income
2,231
2,461

23,663
7,004


 
Page 5