Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31No description of principal activity2023-01-01false00truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10662751 2023-01-01 2023-12-31 10662751 2022-01-01 2022-12-31 10662751 2023-12-31 10662751 2022-12-31 10662751 2022-01-01 10662751 1 2023-01-01 2023-12-31 10662751 d:Director1 2023-01-01 2023-12-31 10662751 c:CurrentFinancialInstruments 2023-12-31 10662751 c:CurrentFinancialInstruments 2022-12-31 10662751 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 10662751 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 10662751 c:ShareCapital 2023-01-01 2023-12-31 10662751 c:ShareCapital 2023-12-31 10662751 c:ShareCapital 2022-01-01 2022-12-31 10662751 c:ShareCapital 2022-12-31 10662751 c:ShareCapital 2022-01-01 10662751 c:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 10662751 c:RetainedEarningsAccumulatedLosses 2023-12-31 10662751 c:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 10662751 c:RetainedEarningsAccumulatedLosses 2022-12-31 10662751 c:RetainedEarningsAccumulatedLosses 2022-01-01 10662751 d:OrdinaryShareClass1 2023-01-01 2023-12-31 10662751 d:OrdinaryShareClass1 2023-12-31 10662751 d:OrdinaryShareClass1 2022-12-31 10662751 d:FRS102 2023-01-01 2023-12-31 10662751 d:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 10662751 d:FullAccounts 2023-01-01 2023-12-31 10662751 d:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10662751 2 2023-01-01 2023-12-31 10662751 6 2023-01-01 2023-12-31 10662751 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10662751









LEOPARD UK KENSINGTON JV LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
LEOPARD UK KENSINGTON JV LIMITED
REGISTERED NUMBER: 10662751

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
-
1

  
-
1

Current assets
  

Debtors: amounts falling due within one year
 5 
1,269,843
21,842,585

Cash at bank and in hand
  
277
59

  
1,270,120
21,842,644

Creditors: amounts falling due within one year
 7 
(81,387,160)
(77,047,698)

Net current liabilities
  
 
 
(80,117,040)
 
 
(55,205,054)

Total assets less current liabilities
  
(80,117,040)
(55,205,053)

  

Net liabilities
  
(80,117,040)
(55,205,053)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(80,117,140)
(55,205,153)

  
(80,117,040)
(55,205,053)


Page 1

 
LEOPARD UK KENSINGTON JV LIMITED
REGISTERED NUMBER: 10662751
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 comprehensive income 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 on 2 September 2024.




................................................
Derrick Beare
Director

The notes on pages 5 to 7 form part of these financial statements.

Page 2

 
LEOPARD UK KENSINGTON JV LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 January 2023
100
(55,205,153)
(55,205,053)


Comprehensive income for the year

Loss for the year

-
(24,911,987)
(24,911,987)


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
(24,911,987)
(24,911,987)


Total transactions with owners
-
-
-


At 31 December 2023
100
(80,117,140)
(80,117,040)


The notes on pages 5 to 7 form part of these financial statements.

Page 3

 
LEOPARD UK KENSINGTON JV LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2022


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 January 2022
100
(41,642,322)
(41,642,222)


Comprehensive income for the year

Loss for the year

-
(13,562,831)
(13,562,831)


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
(13,562,831)
(13,562,831)


Total transactions with owners
-
-
-


At 31 December 2022
100
(55,205,153)
(55,205,053)


The notes on pages 5 to 7 form part of these financial statements.

Page 4

 
LEOPARD UK KENSINGTON JV LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Leopard UK Kensington JV Limited is a private company limited by shares and is incorporated in England
and Wales. The address of its registered office is 124 City Road, London, EC1V 2NX. 

The principal activity of the Company during the year was to act as an investment holding company.

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 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

Following the successful conclusion of the company's activities, the directors intend to carry out an
orderly wind down and proceed to a winding-up.

 
2.3

Interest income

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

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

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.

 
2.8

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 5

 
LEOPARD UK KENSINGTON JV LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees

The Company has no employees other than the directors, who did not receive any remuneration (2022 - £NIL).


4.


Fixed asset investments





Investments in subsidiary companies

£





At 1 January 2023
1


Disposals
(1)



At 31 December 2023
-




During the year, the Company sold its shareholding in Leopard UK Kensington Propco Limited.


5.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
102
21,842,585

Other debtors
1,269,741
-

1,269,843
21,842,585



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
277
59

277
59


Page 6

 
LEOPARD UK KENSINGTON JV LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
1,201,460
-

Amounts owed to group undertakings
80,183,100
77,041,298

Accruals and deferred income
2,600
6,400

81,387,160
77,047,698



8.


Share capital

2023
2022
£
£
Allotted, called up and partly paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



9.


Related party transactions

The Company has taken advantage of the exemptions provided by "Financial Reporting Standard 102"
not to disclose transactions with the entities wholly owned within the group.The Company has not entered into any material transactions with related parties that have not been conducted under normal market conditions.
 


10.


Post balance sheet events

During the year, a Debenture made between the immediate parent company, Leopard Guernsey Kensington Holdco Limited (the "Chargor") and AW Rootstock Limited was exercised over 51% of the shares in the Company. From 6 April 2023, the Receivers appointed by AW Rootstock have full control over the shares. subsequent to the year end, on 21 February 2024 AW Rootstock, revoked the appointment of Receivers.


11.


Controlling party

The immediate parent company of the Company, which owns 100% of its issued share capital, is Leopard
Guernsey Kensington Holdco Limited, a company incorporated in Guernsey.                                           
During the year, a Debenture made between the immediate parent company, Leopard Guernsey Kensington Holdco Limited (the "Chargor") and AW Rootstock Limited was exercised over 51% of the shares in the Company. From 6 April 2023, the Receivers appointed by AW Rootstock have full control over the shares. As stated in note 10, subsequent to the year end, AW Rootstock, revoked the appointment of Receivers.

 
Page 7