Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-314false2023-01-01Other business support4falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11808338 2023-01-01 2023-12-31 11808338 2022-01-01 2022-12-31 11808338 2023-12-31 11808338 2022-12-31 11808338 c:CompanySecretary1 2023-01-01 2023-12-31 11808338 c:Director1 2023-01-01 2023-12-31 11808338 c:Director2 2023-01-01 2023-12-31 11808338 c:Director3 2023-01-01 2023-12-31 11808338 c:RegisteredOffice 2023-01-01 2023-12-31 11808338 d:CurrentFinancialInstruments 2023-12-31 11808338 d:CurrentFinancialInstruments 2022-12-31 11808338 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11808338 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11808338 d:ShareCapital 2023-12-31 11808338 d:ShareCapital 2022-12-31 11808338 d:RetainedEarningsAccumulatedLosses 2023-12-31 11808338 d:RetainedEarningsAccumulatedLosses 2022-12-31 11808338 c:OrdinaryShareClass1 2023-01-01 2023-12-31 11808338 c:OrdinaryShareClass1 2023-12-31 11808338 c:OrdinaryShareClass1 2022-12-31 11808338 c:FRS102 2023-01-01 2023-12-31 11808338 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11808338 c:FullAccounts 2023-01-01 2023-12-31 11808338 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11808338 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure


Registered number:  11808338












GREENGATE EUROPE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

 

GREENGATE EUROPE LIMITED

CONTENTS



Page
Company information
 
1
Balance sheet
 
2 - 3
Notes to the financial statements
 
4 - 8


 

GREENGATE EUROPE LIMITED
 
COMPANY INFORMATION


Directors
P G Ameer 
C M Dymond 
R P Shipkoff 




Company secretary
Taylor Wessing Secretaries Limited



Registered number
11808338



Registered office
5 New Street Square

London

EC4A 3TW




Accountants
Blick Rothenberg Limited
Chartered Accountants

16 Great Queen Street

Covent Garden

London

WC2B 5AH




Page 1


 
REGISTERED NUMBER:11808338
GREENGATE EUROPE LIMITED

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
21,234
36,294

Cash at bank and in hand
  
17,268
11,045

  
38,502
47,339

Creditors: amounts falling due within one year
 5 
(6,983)
(16,811)

Net current assets
  
 
 
31,519
 
 
30,528

Total assets less current liabilities
  
31,519
30,528

  

Net assets
  
31,519
30,528


Capital and reserves
  

Called up share capital 
 6 
1
1

Profit and loss account
  
31,518
30,527

Total equity
  
31,519
30,528


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  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 and in accordance with the provisions of FRS 102 Section 1A- samll entities. 

The  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 profit and loss account 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 G Ameer
Director

Date: 31 July 2024

The notes on pages 4 to 8 form part of these financial statements.
Page 2


 
REGISTERED NUMBER:11808338
GREENGATE EUROPE LIMITED
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023


Page 3

 

GREENGATE EUROPE LIMITED

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

1.


General information

Greengate Europe Limited is a private company limited by shares incorporated in England and Wales. The address of its registered office is 5 New Street, London, United Kingdom, EC4A 3TW.
The financial statements are presented in Sterling (£),which is the functional currency of the company.
Monetary amounts in these financial statements are rounded to the nearest £.

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 following principal accounting policies have been applied:

 
2.2

Going concern

The sole customer of the company is its parent company, Greengate LLC. The company is therefore dependent on the performance and support of Greengate LLC. The going concern status of the company is intertwined with the going concern status of Greengate LLC. The directors have received written assurances of the continued support of the company's parent undertaking for the foreseeable future being a period of at least twelve months from the date the financial statements were approved. The directors have reviewed the financial position and forecasts of the parent company and believe that it is likely that Greengate LLC will be able to provide the support offered. Therefore the directors have continued to adopt the going concern basis.

 
2.3

Revenue

Revenue from contracts to provide sales and marketing services to the parent company is recognised in the period in which the services are provided. Revenue is recognised to the extent that it is probable that the company will receive the consideration due under the contract and the amount of revenue can be measured reliabily. Revenue is measured as the fair value of the consideration received or receivable, excluding value added tax.

  
2.4

Financial instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 
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. 
The company’s policies for its major classes of financial assets and financial liabilities are set out below. 
Financial assets
Basic financial assets, including other debtors, bank balances and intercompany balances are initially recognised at transaction price, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
 
Page 4

 

GREENGATE EUROPE LIMITED

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

2.Accounting policies (continued)


Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Financial liabilities
Basic financial liabilities, including trade and other creditors 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. 
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 
For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.

Page 5

 

GREENGATE EUROPE LIMITED

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

2.Accounting policies (continued)

  
2.5

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.

  
2.6

Share capital

Ordinary shares are classified as equity. 

 
2.7

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.8

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.

Page 6

 

GREENGATE EUROPE LIMITED

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

2.Accounting policies (continued)

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years.
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 arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.
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; 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 balance sheet date.


3.


Employees

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


4.


Debtors

2023
2022
£
£

Amounts owed by group undertakings
20,142
34,766

Other debtors
1,092
982

Prepayments and accrued income
-
546

21,234
36,294


Amounts owed to group undertakings are interest free and repayable on demand.

Page 7

 

GREENGATE EUROPE LIMITED

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

5.


Creditors: amounts falling due within one year

2023
2022
£
£

Trade creditors
-
9,067

Corporation tax
233
994

Accruals and deferred income
6,750
6,750

6,983
16,811



6.


Share capital

2023
2022
£
£

Allotted, called up and fully paid



1 (2022 - 1) Ordinary share of £1.00
1
1



7.


Parent undertaking

The smallest group for which consolidated financial statements are drawn up is headed by Greengate LLC whose registered office is 11th Floor, 1660 L Street NW, Washington DC 20036.


8.


Related party transactions

The company has taken advantage of the exemption contained in FRS 102 section 33 "Related Party Disclosures" from disclosing transactions with entities which are a wholly owned part of the group.

Page 8