Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-313false2022-09-01falseNo description of principal activity2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04862974 2022-09-01 2023-08-31 04862974 2021-09-01 2022-08-31 04862974 2023-08-31 04862974 2022-08-31 04862974 c:Director1 2022-09-01 2023-08-31 04862974 d:Buildings d:LongLeaseholdAssets 2022-09-01 2023-08-31 04862974 d:Buildings d:LongLeaseholdAssets 2023-08-31 04862974 d:Buildings d:LongLeaseholdAssets 2022-08-31 04862974 d:OfficeEquipment 2022-09-01 2023-08-31 04862974 d:OfficeEquipment 2023-08-31 04862974 d:OfficeEquipment 2022-08-31 04862974 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 04862974 d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 04862974 d:CurrentFinancialInstruments 2023-08-31 04862974 d:CurrentFinancialInstruments 2022-08-31 04862974 d:Non-currentFinancialInstruments 2023-08-31 04862974 d:Non-currentFinancialInstruments 2022-08-31 04862974 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 04862974 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 04862974 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 04862974 d:Non-currentFinancialInstruments d:AfterOneYear 2022-08-31 04862974 d:ShareCapital 2023-08-31 04862974 d:ShareCapital 2022-08-31 04862974 d:RetainedEarningsAccumulatedLosses 2023-08-31 04862974 d:RetainedEarningsAccumulatedLosses 2022-08-31 04862974 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-08-31 04862974 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-08-31 04862974 d:AcceleratedTaxDepreciationDeferredTax 2023-08-31 04862974 d:AcceleratedTaxDepreciationDeferredTax 2022-08-31 04862974 d:TaxLossesCarry-forwardsDeferredTax 2023-08-31 04862974 d:TaxLossesCarry-forwardsDeferredTax 2022-08-31 04862974 c:OrdinaryShareClass1 2022-09-01 2023-08-31 04862974 c:OrdinaryShareClass1 2023-08-31 04862974 c:OrdinaryShareClass1 2022-08-31 04862974 c:FRS102 2022-09-01 2023-08-31 04862974 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 04862974 c:FullAccounts 2022-09-01 2023-08-31 04862974 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 04862974 2 2022-09-01 2023-08-31 04862974 6 2022-09-01 2023-08-31 04862974 2 2023-08-31 04862974 2 2022-08-31 04862974 f:PoundSterling 2022-09-01 2023-08-31 iso4217:GBP xbrli:shares xbrli:pure


Registered number: 04862974












ARBOR VENTURES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023


 
REGISTERED NUMBER:04862974
ARBOR VENTURES LIMITED

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
31,993
5,563

Investments
 5 
10,447,676
10,083,046

  
10,479,669
10,088,609

Current assets
  

Debtors: amounts falling due after more than one year
 6 
2,384,288
2,870,788

Debtors: amounts falling due within one year
 6 
470,785
274,762

Current asset investments
 7 
557,647
462,366

Cash at bank and in hand
  
6,220,044
5,223,380

  
9,632,764
8,831,296

Creditors: amounts falling due within one year
 8 
(1,166,179)
(1,342,340)

Net current assets
  
 
 
8,466,585
 
 
7,488,956

Total assets less current liabilities
  
18,946,254
17,577,565

Creditors: amounts falling due after more than one year
 9 
(18,025,863)
(16,291,826)

Provisions for liabilities
  

Deferred tax
 11 
(3,283)
-

  
 
 
(3,283)
 
 
-

Net assets
  
917,108
1,285,739


Capital and reserves
  

Called up share capital 
 12 
51,000
51,000

Profit and loss account
  
866,108
1,234,739

Total equity
  
917,108
1,285,739


Page 1


 
REGISTERED NUMBER:04862974
ARBOR VENTURES LIMITED
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2023

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 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 sole director. 




C A Mathias
Director

Date: 28 August 2024

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 

ARBOR VENTURES LIMITED

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

1.


General information

Arbor Ventures Limited is a private company limited by shares incorporated and registered in England and Wales. Its registered office is 16 Great Queen Street, Covent Garden, London, WC2B 5AH.
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

After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, he continues to adopt the going concern basis in preparing the financial statements.

 
2.3

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
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

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.

Page 3

 

ARBOR VENTURES LIMITED

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

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

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
-
15% reducing balance
Equipment
-
33.3% per annum

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.

 
2.6

Valuation of investments

Investments in subsidiaries and associates are measured at cost less accumulated impairment.

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and loss account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

  
2.7

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 trade, other debtors and cash and bank 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.
Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price, which excludes transaction costs for those financial assets that are subsequently measured at fair value through profit and loss.
 
Page 4

 

ARBOR VENTURES LIMITED

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

2.Accounting policies (continued)


Such financial assets are subsequently measured at fair value through profit or loss, where they are publicly traded, or fair value can be measured reliably, for example by using a valuation technique. Where fair value cannot be measured reliably, the financial asset is measured at cost less impairment.
Financial liabilities
Basic financial liabilities, including 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.
Derivative contracts
Derivatives contracts, including interest rate swaps and foreign exchange forward contracts, are not basic financial instruments.
Derivatives contracts are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in interest payable and similar expenses or interest receivable and similar income as appropriate.
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 the profit or loss account.
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.
 
Page 5

 

ARBOR VENTURES LIMITED

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

2.Accounting policies (continued)


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.

 
2.8

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.

  
2.9

Share capital

Ordinary shares are classified as equity.

 
2.10

Interest income

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

 
2.11

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.

Page 6

 

ARBOR VENTURES LIMITED

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

2.Accounting policies (continued)

 
2.12

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is Sterling (£)..

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 profit and loss account within 'administrative expenses'.

 
2.13

Current and deferred taxation

The tax expense for the year 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.
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 is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 7

 

ARBOR VENTURES LIMITED

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

3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 3).


4.


Tangible fixed assets





Long-term leasehold property
Office equipment
Total

£
£
£



Cost 


At 1 September 2022
-
9,720
9,720


Additions
23,336
8,213
31,549


Disposals
-
(128)
(128)



At 31 August 2023

23,336
17,805
41,141



Depreciation


At 1 September 2022
-
4,157
4,157


Charge for the year on owned assets
1,231
3,888
5,119


Disposals
-
(128)
(128)



At 31 August 2023

1,231
7,917
9,148



Net book value



At 31 August 2023
22,105
9,888
31,993



At 31 August 2022
-
5,563
5,563

Page 8

 

ARBOR VENTURES LIMITED

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

5.


Fixed asset investments





Investments in subsidiary companies
Investments in associates
Unlisted investments
Total

£
£
£
£



Cost or valuation


At 1 September 2022
5,633,513
1,243,597
4,886,833
11,763,943


Additions
1,000
250,185
472,341
723,526


Disposals
-
-
(408,578)
(408,578)


Foreign exchange movement
-
-
(161,629)
(161,629)


Revaluations
-
-
461,496
461,496



At 31 August 2023

5,634,513
1,493,782
5,250,463
12,378,758



Impairment


At 1 September 2022
1,680,897
-
-
1,680,897


Charge for the period
-
250,185
-
250,185



At 31 August 2023

1,680,897
250,185
-
1,931,082



Net book value



At 31 August 2023
3,953,616
1,243,597
5,250,463
10,447,676



At 31 August 2022
3,952,616
1,243,597
4,886,833
10,083,046

Page 9

 

ARBOR VENTURES LIMITED

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

6.


Debtors

2023
2022
£
£

Due after more than one year

Amounts owed by group undertakings
2,384,288
2,870,788


2023
2022
£
£

Due within one year

Trade debtors
82,100
19,200

Amounts owed by group undertakings
137,689
17,000

Other debtors
231,240
212,956

Prepayments and accrued income
19,756
21,396

Deferred taxation
-
4,210

470,785
274,762



7.


Current asset investments

2023
2022
£
£

Listed investments
378,063
309,424

Unlisted investments
179,584
152,942

557,647
462,366



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
152
2,489

Amounts owed to group undertakings
1,108,500
1,116,500

Other taxation and social security
10,526
10,831

Accruals and deferred income
47,001
212,520

1,166,179
1,342,340


Page 10

 

ARBOR VENTURES LIMITED

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

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other creditors
18,025,863
16,291,826



10.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
6,598,107
6,598,107




Financial assets measured at fair value through profit or loss comprise listed and unlisted investments.


11.


Deferred taxation




2023


£






At beginning of year
4,210


Charged to profit or loss
(7,493)



At end of year
(3,283)

The deferred taxation balance is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(3,283)
(2,045)

Capital losses
-
6,255

(3,283)
4,210

Page 11

 

ARBOR VENTURES LIMITED

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

12.


Share capital

Shares classified as equity.


2023
2022
£
£
Allotted, called up and fully paid



51,000 (2022 - 51,000) Ordinary shares shares of £1.00 each
51,000
51,000


13.
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.

Transactions with other related parties are as follows:




Relationship

Transaction

Amount
Amount due (to)/from related parties




2023
 
2022 
2023 
2022 




£
 
£ 
£ 
£ 



C A Mathias
Loan
(1,734,037)
24,755
(18,025,863)
(16,291,826)


(Director)



Crystal Lake InvestmentsLimited*
Fees receivable
47,666
38,640
7,333
6,667



Tanshire ManagementLimited*
Fees receivable
28,750
16,250
-
6,250



TP Holdings Limited*
Fees receivable
24,000
24,000
-
6,000


*These entities are owned by The Christopher Mathias Family Trust.
Amounts owed to related parties are unsecured, interest free and due for repayment within one year.

 
Page 12