Caseware UK (AP4) 2023.0.135 2023.0.135 2022-11-10truefalseThat of a holding company10falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. NI692491 2022-11-09 NI692491 2022-11-10 2024-03-31 NI692491 2022-04-01 2022-11-09 NI692491 2024-03-31 NI692491 c:CompanySecretary1 2022-11-10 2024-03-31 NI692491 c:Director1 2022-11-10 2024-03-31 NI692491 c:Director1 2024-03-31 NI692491 c:RegisteredOffice 2022-11-10 2024-03-31 NI692491 d:FreeholdInvestmentProperty 2022-11-10 2024-03-31 NI692491 d:FreeholdInvestmentProperty 2024-03-31 NI692491 d:CurrentFinancialInstruments 2024-03-31 NI692491 d:Non-currentFinancialInstruments 2024-03-31 NI692491 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 NI692491 d:ShareCapital 2022-11-10 2024-03-31 NI692491 d:ShareCapital 2024-03-31 NI692491 d:SharePremium 2022-11-10 2024-03-31 NI692491 d:SharePremium 2024-03-31 NI692491 d:RetainedEarningsAccumulatedLosses 2022-11-10 2024-03-31 NI692491 d:RetainedEarningsAccumulatedLosses 2024-03-31 NI692491 c:OrdinaryShareClass1 2022-11-10 2024-03-31 NI692491 c:OrdinaryShareClass1 2024-03-31 NI692491 c:FRS102 2022-11-10 2024-03-31 NI692491 c:AuditExemptWithAccountantsReport 2022-11-10 2024-03-31 NI692491 c:FullAccounts 2022-11-10 2024-03-31 NI692491 c:PrivateLimitedCompanyLtd 2022-11-10 2024-03-31 NI692491 d:EntityControlledByKeyManagementPersonnel1 2022-11-10 2024-03-31 NI692491 d:EntityControlledByKeyManagementPersonnel1 2024-03-31 NI692491 2 2022-11-10 2024-03-31 NI692491 6 2022-11-10 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Unaudited Financial Statements
Neueda Holdings Limited
For the period ended 31 March 2024





































Registered number: NI692491

 
Neueda Holdings Limited
 

Company Information


Director
Mr D Bole (appointed 10 November 2022)




Company secretary
Ms K Dinsmore (appointed 10 November 2022)



Registered number
NI692491



Registered office
5e Stirling House Castlereagh Road Business Park
478 Castlereagh Road

Belfast

Northern Ireland

BT5 6BQ




Accountants
Grant Thornton (NI) LLP
Chartered Accountants

12 - 15 Donegall Square West

Belfast

BT1 6JH





 
Neueda Holdings Limited
 

Contents



Page
Accountant's Report
1
Balance Sheet
2 - 3
Statement of Changes in Equity
4
Notes to the Financial Statements
5 - 10


  
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Independent Accountant's Report to the director of the unaudited financial statements of Neueda Holdings Limited for the period ended 31 March 2024

In order to assist you fulfil your duties under the Companies Act 2006, we have compiled the financial statements of Neueda Holdings Limited for the period ended 31 March 2024, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes to the financial statements, including a summary of significant accounting policies, from the company's accounting records and from information and explanations you have given to us.

The financial statements have been prepared on the basis set out in the notes to the financial statements.

This report is made solely to the directors of Neueda Holdings Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely that we might compile the financial statements that we have been engaged to compile, report to the company's directors that we have done so and state those matters that we have agreed to state to the directors of Neueda Holdings Limited, as a body, in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Neueda Holdings Limited and its directors, as a body, for our work or for this report.


We have carried out this engagement in accordance with the technical guidance issued by Chartered Accountants Ireland ("the Institute") and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.

You have approved the financial statements for the period ended 31 March 2024 and you have acknowledged on the Balance Sheet as at 31 March 2024 your duty to ensure that Neueda Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view in accordance with the Companies Act 2006. You consider that Neueda Holdings Limited is exempt from the statutory audit requirement for the period ended 31 March 2024.

We have not been instructed to carry out an audit or review the financial statements of Neueda Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. 




  


Grant Thornton (NI) LLP

Chartered Accountants
12 - 15 Donegall Square West
Belfast
BT1 6JH







Date:   6 August 2024
Page 1

 
Neueda Holdings Limited
Registered number:NI692491

Balance Sheet
As at 31 March 2024

2024
Note
£

Fixed assets
  

Investments
 6 
142

Investment property
 7 
213,655

  
213,797

Current assets
  

Debtors: amounts falling due within one year
 8 
706,988

Cash at bank and in hand
 9 
7,466,975

  
8,173,963

Creditors: amounts falling due within one year
 10 
(41,792)

Net current assets
  
 
 
8,132,171

  

Net assets
  
8,345,968


Capital and reserves
  

Called up share capital 
 11 
100

Share premium account
 12 
213,655

Profit and loss account
 12 
8,132,213

  
8,345,968


Page 2

 
Neueda Holdings Limited
Registered number:NI692491

Balance Sheet (continued)
As at 31 March 2024

The director considers 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 director acknowledges his 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.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 6 August 2024.




Mr D Bole
Director

The notes on pages 5 to 10 form part of these financial statements.

Page 3

 
Neueda Holdings Limited
 

Statement of Changes in Equity
For the period ended 31 March 2024


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£



Profit for the period
-
-
8,132,213
8,132,213

Shares issued during the period
100
213,655
-
213,755


At 31 March 2024
100
213,655
8,132,213
8,345,968

The notes on pages 5 to 10 form part of these financial statements.

Page 4

 
Neueda Holdings Limited
 
 
Notes to the Financial Statements
For the period ended 31 March 2024

1.


General information

Neueda Holdings Limited is a private company limited by shares which is registered and incorporated in Northern Ireland. The registered address is 5e Stirling House Castlereagh Road Business Park, 478 Castlereagh Road, Belfast, Nothern Ireland, BT5 6BQ.
The principal activity of the company is that of a holding company. 

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 (see note 3).

The financial statements are presented in Sterling (£).

The following principal accounting policies have been applied:

 
2.2

Going concern

The director has assessed that there are adequate resources to meet the ongoing costs of the business for a minimum of 12 months from the date of signing the financial statements. For this reason the financial statements have been prepared on a going concern basis which presumes the realisation of assets and liabilities in the normal course of business.

  
2.3

Consolidation

These financial statements contain information about the company as an individual and do not contain consolidated financial information as the parent undertaking of a group. The company has taken advantage of exemptions available to small groups not to prepare consolidated financial statements.

Page 5

 
Neueda Holdings Limited
 

Notes to the Financial Statements
For the period ended 31 March 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Interest income

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

 
2.6

Taxation

Tax is recognised in profit or loss 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.

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 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;
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Company can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

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.

Page 6

 
Neueda Holdings Limited
 

Notes to the Financial Statements
For the period ended 31 March 2024

2.Accounting policies (continued)

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.9

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.

 
2.10

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

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.

Page 7

 
Neueda Holdings Limited
 
 
Notes to the Financial Statements
For the period ended 31 March 2024

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are required when applying accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The company makes estimates and assumptions concerning the future, which can involve a high degree of judgement or complexity. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:
Recoverability of debtors
Estimates are made in respect of the recoverable value of trade and other debtors. When assessing the level of provisions required, factors including current trading experience, historical experience and the ageing profile of debtors are considered.
Market value of investment properties
Estimates are made in respect of the market value of investment properties. When assessing the market value of these assets, factors including current rent receivable and available data on current market yields and activity are considered.
Carrying value of investments
Investment in subsidiary undertakings is measured at cost less accumulated impairment. Where there is an indication of impairment the recoverable amount is estimated and compared with the carrying amount. The estimate of recoverable amount is considered in light of the trading and balance sheet strength of the subsidiary together with the director's best estimate of future performance of the subsidiary.


4.


Employees

The Company has no employees other than the director, who did not receive any remuneration.



5.


Income from investments

Period ended
31 March
2024
£



Dividend received
8,000,000

8,000,000




Page 8

 
Neueda Holdings Limited
 
 
Notes to the Financial Statements
For the period ended 31 March 2024

6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


Additions
142



At 31 March 2024
142





7.


Investment property


Freehold investment property

£



Valuation


Additions at cost
213,655



At 31 March 2024
213,655

The 2024 valuations were made by the director, on an open market value for existing use basis.







8.


Debtors

2024
£


Other loans
703,315

Prepayments and accrued income
3,673

706,988



9.


Cash and cash equivalents

2024
£

Cash at bank and in hand
7,466,975

7,466,975


Page 9

 
Neueda Holdings Limited
 
 
Notes to the Financial Statements
For the period ended 31 March 2024

10.


Creditors: Amounts falling due within one year

2024
£

Trade creditors
17

Corporation tax
39,525

Accruals and deferred income
2,250

41,792



11.


Share capital

2024
£
Allotted, called up and fully paid


100 Ordinary shares of £1.00 each
100


On 10th November 2022 the Company issued 1 Ordinary share with a nominal value of £1.00. 
On 22nd December 2022 the Company issued a further 99 Ordinary shares with a nominal value of £1.00 each.


12.


Reserves

Share premium account

Includes any premiums received on issue of share capital. Any transaction costs associated with the issuing of shares are deducted from share premium. 

Profit and loss account

This includes all current period retained profits.


13.


Related party transactions

Included within other loans in debtors is an amount of £128,315 owed by a Company connected by virtue of common directorship. During the period Neueda Holdings Limited advanced funds of £128,315 to the Company. 
There are no other related party transactions such as are required to be disclosed.


Page 10