Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31true2truetruetrue2023-01-01trueNo description of principal activity1truefalse 06396674 2023-01-01 2023-12-31 06396674 2022-01-01 2022-12-31 06396674 2023-12-31 06396674 2022-12-31 06396674 c:Director1 2023-01-01 2023-12-31 06396674 d:CurrentFinancialInstruments 2023-12-31 06396674 d:CurrentFinancialInstruments 2022-12-31 06396674 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 06396674 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 06396674 d:ShareCapital 2023-12-31 06396674 d:ShareCapital 2022-12-31 06396674 d:RetainedEarningsAccumulatedLosses 2023-12-31 06396674 d:RetainedEarningsAccumulatedLosses 2022-12-31 06396674 c:OrdinaryShareClass1 2023-01-01 2023-12-31 06396674 c:OrdinaryShareClass1 2023-12-31 06396674 c:OrdinaryShareClass1 2022-12-31 06396674 c:EntityNoLongerTradingButTradedInPast 2023-01-01 2023-12-31 06396674 c:FRS102 2023-01-01 2023-12-31 06396674 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 06396674 c:FullAccounts 2023-01-01 2023-12-31 06396674 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06396674 d:Subsidiary1 2023-01-01 2023-12-31 06396674 d:Subsidiary1 1 2023-01-01 2023-12-31 06396674 6 2023-01-01 2023-12-31 06396674 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 06396674









FSL INVESTMENTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
FSL INVESTMENTS LIMITED
REGISTERED NUMBER: 06396674

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 3 
117,596
117,596

Current assets
  

Debtors: amounts falling due within one year
 4 
372,128
111,108

Creditors: amounts falling due within one year
 5 
(643,763)
(382,743)

Net current liabilities
  
 
 
(271,635)
 
 
(271,635)

Total assets less current liabilities
  
(154,039)
(154,039)

  

Net liabilities
  
(154,039)
(154,039)


Capital and reserves
  

Called up share capital 
 6 
1
1

Profit and loss account
  
(154,040)
(154,040)

  
(154,039)
(154,039)


Page 1

 
FSL INVESTMENTS LIMITED
REGISTERED NUMBER: 06396674
    
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 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 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 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: 

M Flynn
Director

Date: 6 August 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
FSL INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

FSL Investments Limited is a private company limited by shares and registered in England and Wales. Its registered office address is 14 Pindar Road, Hoddesdon, Hertfordshire, EN11 0DE.
The financial statements are presented in Sterling (GBP).

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.

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Insignia Investments Limited as at 31 December 2022 and these financial statements may be obtained from Companies House.

 
2.3

Exemption from preparing consolidated financial statements

The company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of any part of the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.

 
2.4

Going concern

The company is dormant and has ceased economic activity. The directors have a reasonable
expectation that the company has no liabilities which could cause a deficit in total equity for the
foreseeable future, being a period of at least twelve months from the date these financial statements
were approved..

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
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.

Page 3

 
FSL INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
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.

The company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the company's balance sheet 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, 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.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.


 
Page 4

 
FSL INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.7
Financial instruments (continued)

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.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Page 5

 
FSL INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

  
2.8

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.


3.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
117,596



At 31 December 2023
117,596






Net book value



At 31 December 2023
117,596



At 31 December 2022
117,596


Subsidiary undertaking


The following was a subsidiary undertaking of the company:

Name

Registered office

Class of shares

Holding

Instock Hardware Limited
England & Wales
Ordinary
100%

Page 6

 
FSL INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


4.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
372,128
111,108



5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
643,236
382,216

Other creditors
527
527

643,763
382,743



6.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



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



7.Other financial commitments

The company with its parent and fellow subsidiary undertakings have jointly entered into cross guarantees in respect of bank borrowings. The exposure to the company at 31 December 2023 amounted to £Nil (2022 - £538,588).


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 7