Company registration number 12431749 (England and Wales)
CONREN LAND UK HOLDING LIMITED
Financial statements
For the year ended 31 December 2023
Pages for filing with registrar
CONREN LAND UK HOLDING LIMITED
COMPANY INFORMATION
Director
Mr C R Klasen
Company number
12431749
Registered office
Connect House
133-137 Alexandra Road
London
SW19 7JY
Auditor
WSM Advisors Limited
Connect House
133-137 Alexandra Road
Wimbledon
London
SW19 7JY
CONREN LAND UK HOLDING LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 6
CONREN LAND UK HOLDING LIMITED
STATEMENT OF FINANCIAL POSITION
As at 31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Non-current assets
Investments
4
50
50
Current assets
Trade and other receivables
5
89,232
-
0
Investments
6
1,089,678
787,611
Cash and cash equivalents
62,797
277,778
1,241,707
1,065,389
Current liabilities
7
(1,288,842)
(1,098,133)
Net current liabilities
(47,135)
(32,744)
Net liabilities
(47,085)
(32,694)
Equity
Called up share capital
8
100
100
Retained earnings
(47,185)
(32,794)
Total equity
(47,085)
(32,694)

The director of the company has elected not to include a copy of the income statement within the financial statements.true

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 and signed by the director and authorised for issue on 1 August 2024
Mr C R Klasen
Director
Company registration number 12431749 (England and Wales)
CONREN LAND UK HOLDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 December 2023
- 2 -
1
Accounting policies
Company information

CONREN Land UK Holding Limited is a private company limited by shares incorporated in England and Wales. The registered office is Connect House, 133-137 Alexandra Road, London, SW19 7JY.

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 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
Going concern

The company had net current and total liabilities at the balance sheet date and made a loss during the current period. This is in line with the directors’ expectations given the company is a holding company and to date the company’s investments are all in their early stages and are not expected to generate returns until the underlying investments become profitable. However the directors have reviewed the current and projected financial position of the underlying investments, making reasonable assumptions about future trading performance; they have also sought assurance from the parent company that it will continue to provide sufficient funds to the company to enable it to meet its obligations as they fall due. On the basis of this review the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for a period of at least 12 months from the date of approval of the financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.true

1.3
Non-current investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

1.4
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.

CONREN LAND UK HOLDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 December 2023
1
Accounting policies
(Continued)
- 3 -
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position 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 trade and other receivables 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. Financial assets classified as receivable within one year are not amortised.

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.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, 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. Financial liabilities classified as payable within one year are not amortised.

 

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

 

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
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.

1.7
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

CONREN LAND UK HOLDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 December 2023
- 4 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

As a holding company, there were no employees during the period.

4
Fixed asset investments
Movements in non-current investments
Shares in associates
£
Cost
At 1 January 2023 & 31 December 2023
50
Carrying amount
At 31 December 2023
50
At 31 December 2022
50
5
Trade and other receivables
2023
2022
Amounts falling due after more than one year:
£
£
Other receivables
89,232
-
0
0
6
Current asset investments
2023
2022
£
£
Loans to associate undertakings
1,089,678
787,611
CONREN LAND UK HOLDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 December 2023
- 5 -
7
Current liabilities
2023
2022
£
£
Trade payables
7,582
-
0
Amounts owed to parent company
1,268,679
1,061,279
Other payables
12,581
36,854
1,288,842
1,098,133
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 1p each
10,000
10,000
100
100
9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Simon Marsh
Statutory Auditor:
WSM Advisors Limited
Date of audit report:
2 August 2024
10
Capital commitments

In 2020 the company entered into agreements to provide funding to its associate. At the year end, the outstanding commitment was £910,173 (2022: £1,212,239).

11
Related party transactions

Included in amounts due from associated undertakings at the balance sheet date is a loan to an associated company of £1,089,678 (2022: £787,611). The loan is interest free and repayable on demand.

 

Included in amounts owed to parent company at the balance sheet date are amounts due to the immediate parent company of £1,268,679 (2022: £1,061,279). The amounts are interest free and repayable on demand.

 

Included in other receivables at the balance sheet date are amounts due from related parties of £89,232 (2022: £nil)The amounts bear interest at 6.8% per annum and repayable on demand.

CONREN LAND UK HOLDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 December 2023
- 6 -
12
Parent company

At 31 December 2023 the company's immediate parent company and ultimate controlling party is CONREN Land AG, a company incorporated in Germany with its registered office at Bockenheimer Anlage 2, 60322 Frankfurt am Main, Germany. The results of the company are consolidated into the financial statements of the immediate parent company.

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