Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-311455842022-07-12falseNo description of principal activitytruetrue 14228702 2022-07-11 14228702 2022-07-12 2023-12-31 14228702 2022-01-01 2022-07-11 14228702 2023-12-31 14228702 c:Director1 2022-07-12 2023-12-31 14228702 d:Buildings d:LongLeaseholdAssets 2022-07-12 2023-12-31 14228702 d:Buildings d:LongLeaseholdAssets 2023-12-31 14228702 d:FurnitureFittings 2022-07-12 2023-12-31 14228702 d:FurnitureFittings 2023-12-31 14228702 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-07-12 2023-12-31 14228702 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2022-07-12 2023-12-31 14228702 d:OfficeEquipment 2022-07-12 2023-12-31 14228702 d:OfficeEquipment 2023-12-31 14228702 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-07-12 2023-12-31 14228702 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2022-07-12 2023-12-31 14228702 d:ComputerEquipment 2022-07-12 2023-12-31 14228702 d:ComputerEquipment 2023-12-31 14228702 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-07-12 2023-12-31 14228702 d:ComputerEquipment d:LeasedAssetsHeldAsLessee 2022-07-12 2023-12-31 14228702 d:OwnedOrFreeholdAssets 2022-07-12 2023-12-31 14228702 d:LeasedAssetsHeldAsLessee 2022-07-12 2023-12-31 14228702 d:CurrentFinancialInstruments 2023-12-31 14228702 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 14228702 d:ShareCapital 2023-12-31 14228702 d:RetainedEarningsAccumulatedLosses 2023-12-31 14228702 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 14228702 c:FRS102 2022-07-12 2023-12-31 14228702 c:Audited 2022-07-12 2023-12-31 14228702 c:FullAccounts 2022-07-12 2023-12-31 14228702 c:PrivateLimitedCompanyLtd 2022-07-12 2023-12-31 14228702 d:WithinOneYear 2023-12-31 14228702 d:BetweenOneFiveYears 2023-12-31 14228702 d:MoreThanFiveYears 2023-12-31 14228702 c:SmallCompaniesRegimeForAccounts 2022-07-12 2023-12-31 14228702 e:PoundSterling 2022-07-12 2023-12-31 iso4217:GBP xbrli:pure
Company registration number: 14228702







FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 DECEMBER 2023


GSK STOCKMANN UK LIMITED






































img4f1b.png                        

 


GSK STOCKMANN UK LIMITED
REGISTERED NUMBER:14228702



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
Note
£

Fixed assets
  

Tangible assets
 4 
204,920

  
204,920

Current assets
  

Debtors: amounts falling due within one year
 5 
132,765

Cash at bank and in hand
  
41,608

  
174,373

Creditors: amounts falling due within one year
 6 
(321,479)

Net current (liabilities)/assets
  
 
 
(147,106)

Total assets less current liabilities
  
57,814

Provisions for liabilities
  

Deferred tax
 7 
(25,280)

  
 
 
(25,280)

Net assets
  
32,534


Capital and reserves
  

Called up share capital 
  
100

Profit and loss account
  
32,434

  
32,534


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: 




................................................
YA Von Massenbach
Director

Date: 15 August 2024

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

Page 1

 


GSK STOCKMANN UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

GSK Stockmann UK Limited is a private company limited by shares incorporated in the United Kingdom under the
Companies Act 2006, and is registered in England and Wales. The address of its registered office is disclosed on
the company information page, its principal place of business as the same as its registered office.

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 Company was incorporated on 12th July 2022 therefore the activity is for the period from 12th July 2022 to 31st December 2023.

The following principal accounting policies have been applied:

 
2.2

Going concern

During the year, the entity made a profit, however the entity is reliant on the parent entity for income and therefore profit. There is ongoing support from the parent entity, GSK Stockmann Rechtsanwälte Steuerberater Partnerschaftsgesellschaft mbB, for a period of 12 months from the signing date of these finanical statements. However there is material uncertainty in relation to going concern, as management have expressed concerns around an ongoing presence in the UK market.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
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 calculated based on the costs incurred in relation to Marketing services for the Parent entity, with indirect costs being recharged at cost and direct marketing costs being recharged with a mark up of 5%.

Page 2

 


GSK STOCKMANN UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. 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 reporting 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 reporting 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; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

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 reporting date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
10 years
Fixtures and fittings
-
13 years
Office equipment
-
5 - 13 years
Computer equipment
-
3 - 5 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 3

 


GSK STOCKMANN UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.9

Financial instruments

Basic financial assets

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

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.


3.


Employees

The average monthly number of employees, including the directors, during the period was as follows:


  12 July 2022 to
     31 December
        2023
            No.






Employees
4

Page 4

 


GSK STOCKMANN UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Long-term leasehold property
Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£
£



Cost or valuation


Additions
152,463
58,811
1,166
16,350
228,790



At 31 December 2023

152,463
58,811
1,166
16,350
228,790



Depreciation


Charge for the period on owned assets
-
3,581
235
5,496
9,312


Charge for the period on financed assets
14,558
-
-
-
14,558



At 31 December 2023

14,558
3,581
235
5,496
23,870



Net book value



At 31 December 2023
137,905
55,230
931
10,854
204,920


5.


Debtors

2023
£


Amounts owed by group undertakings
6,331

Other debtors
94,267

Called up share capital not paid
100

Prepayments and accrued income
32,067

132,765


Page 5

 


GSK STOCKMANN UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

6.


Creditors: Amounts falling due within one year

2023
£

Trade creditors
18,238

Amounts owed to group undertakings
140,131

Corporation tax
9,808

Other taxation and social security
66,501

Other creditors
7,475

Accruals and deferred income
79,326

321,479



7.


Deferred taxation



2023


£






Charged to profit or loss
(25,280)



At end of year
(25,280)

The deferred taxation balance is made up as follows:

2023
£


Accelerated capital allowances
(25,280)

(25,280)


8.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
£


Not later than 1 year
113,813

Later than 1 year and not later than 5 years
455,250

Later than 5 years
421,106

990,169

Page 6

 


GSK STOCKMANN UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

9.


Parent Company

The Company is a wholly owned subsidiary undertaking of GSK Stockmann Rechtsanwälte Steuerberater Partnerschaftsgesellschaft mbB, a company incorporated in Germany, whose registered office is Karl-Scharnagl-Ring 8, 80539, München, Germany.
The parent entity does not prepare consolidated accounts. 


10.


Auditors' information

The auditors' report on the financial statements for the period ended 31 December 2023 was unqualified.

The audit report was signed on 15 August 2024 by Miriam Hanley ACA (Senior Statutory Auditor) on behalf of Menzies LLP.

 
Page 7