Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31No description of principal activity2023-01-01false33falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11649565 2023-01-01 2023-12-31 11649565 2022-01-01 2022-12-31 11649565 2023-12-31 11649565 2022-12-31 11649565 c:Director1 2023-01-01 2023-12-31 11649565 c:Director2 2023-01-01 2023-12-31 11649565 c:Director3 2023-01-01 2023-12-31 11649565 c:RegisteredOffice 2023-01-01 2023-12-31 11649565 d:CurrentFinancialInstruments 2023-12-31 11649565 d:CurrentFinancialInstruments 2022-12-31 11649565 d:Non-currentFinancialInstruments 2023-12-31 11649565 d:Non-currentFinancialInstruments 2022-12-31 11649565 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11649565 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11649565 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 11649565 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 11649565 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 11649565 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 11649565 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-12-31 11649565 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-12-31 11649565 d:ShareCapital 2023-12-31 11649565 d:ShareCapital 2022-12-31 11649565 d:RetainedEarningsAccumulatedLosses 2023-12-31 11649565 d:RetainedEarningsAccumulatedLosses 2022-12-31 11649565 c:OrdinaryShareClass1 2023-01-01 2023-12-31 11649565 c:OrdinaryShareClass1 2023-12-31 11649565 c:OrdinaryShareClass1 2022-12-31 11649565 c:OrdinaryShareClass2 2023-01-01 2023-12-31 11649565 c:OrdinaryShareClass2 2023-12-31 11649565 c:OrdinaryShareClass2 2022-12-31 11649565 c:FRS102 2023-01-01 2023-12-31 11649565 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11649565 c:FullAccounts 2023-01-01 2023-12-31 11649565 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11649565 2 2023-01-01 2023-12-31 11649565 6 2023-01-01 2023-12-31 11649565 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 11649565









MOONRAKER (ELGIN HOUSE) LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
MOONRAKER (ELGIN HOUSE) LTD
 
 
COMPANY INFORMATION


Directors
R Humphreys 
W J Killick 
A J Pettit 




Registered number
11649565



Registered office
Second Floor
60 Charlotte Street

London

W1T 2NU




Accountants
Donald Reid Limited
Chartered Accountants

Prince Albert House

20 King Street

Maidenhead

Berkshire

SL6 1DT





 
MOONRAKER (ELGIN HOUSE) LTD
 

CONTENTS



Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 10


 
MOONRAKER (ELGIN HOUSE) LTD
REGISTERED NUMBER: 11649565

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
319,828
319,828

  
319,828
319,828

Current assets
  

Debtors: amounts falling due after more than one year
 5 
3,562,897
3,317,409

Debtors: amounts falling due within one year
 5 
4,634,118
4,438,115

Cash at bank and in hand
 6 
4,219
4,085

  
8,201,234
7,759,609

Creditors: amounts falling due within one year
 7 
(45,863)
(154,469)

Net current assets
  
 
 
8,155,371
 
 
7,605,140

Total assets less current liabilities
  
8,475,199
7,924,968

Creditors: amounts falling due after more than one year
 8 
(10,996,636)
(9,608,684)

  

Net liabilities
  
(2,521,437)
(1,683,716)


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
  
(2,521,537)
(1,683,816)

  
(2,521,437)
(1,683,716)


Page 1

 
MOONRAKER (ELGIN HOUSE) LTD
REGISTERED NUMBER: 11649565
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

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 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 on 8 August 2024.




R Humphreys
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
MOONRAKER (ELGIN HOUSE) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Moonraker (Elgin House) Ltd is a private company limited by shares. The company was incorporated in the United Kingdom and registered in England and Wales. The registration number is 11649565. The registered office address is Second Floor, 60 Charlotte Street, London, United Kingdom, W1T 2NU.

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

At year end, the company has net liabilties of £2,521,437 (2022: £1,683,716). As the company will continue to be supported by the parent company, the directors consider it appropriate to prepare the accounts on a going concern basis.

 
2.3

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.

 
2.4

Interest income

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

 
2.5

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.

Page 3

 
MOONRAKER (ELGIN HOUSE) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Valuation of investments

Investments in subsidiaries 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 Statement of income and retained earnings 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.

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

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

Page 4

 
MOONRAKER (ELGIN HOUSE) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.11
Financial instruments (continued)

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.

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
Page 5

 
MOONRAKER (ELGIN HOUSE) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.11
Financial instruments (continued)

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.


3.


Employees

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

Page 6

 
MOONRAKER (ELGIN HOUSE) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
319,828



At 31 December 2023
319,828





5.


Debtors

2023
2022
£
£

Due after more than one year

Amounts owed by group undertakings
3,562,897
3,317,409

3,562,897
3,317,409


2023
2022
£
£

Due within one year

Trade debtors
35,873
83,114

Amounts owed by group undertakings
4,223,819
4,355,001

Other debtors
374,426
-

4,634,118
4,438,115



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
4,219
4,085

4,219
4,085


Page 7

 
MOONRAKER (ELGIN HOUSE) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
38,933
82,673

Other taxation and social security
-
13

Other creditors
-
61,783

Accruals and deferred income
6,930
10,000

45,863
154,469


The following liabilities were secured:

2023
2022
£
£



Other loans
-
61,783

-
61,783

Details of security provided:

Other loans are secured by a fixed charge and floating charge over all the property or undertaking of the company.

Page 8

 
MOONRAKER (ELGIN HOUSE) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other loans
10,996,636
9,608,684

10,996,636
9,608,684


The following liabilities were secured:

2023
2022
£
£



Bank loans
5,664,636
4,756,495

5,664,636
4,756,495

Details of security provided:

Other loans are are secured by a fixed charge and floating charge over all the property or undertaking of the company. 


9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£


Amounts falling due 1-2 years

Other loans
5,332,000
9,608,684


5,332,000
9,608,684


Amounts falling due after more than 5 years

Other loans
5,664,636
-

5,664,636
-

10,996,636
9,608,684


Page 9

 
MOONRAKER (ELGIN HOUSE) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary A shares of £1.0000 each
100.00
100.00
100 (2022 - 100) Ordinary B shares of £0.0001 each
0.01
0.01

100.01

100.01

Each ordinary A £1 share carries the right to one vote in any but is not entitled to dividend payments or any other distribution and is not entitled to participate in a distribution arising from the winding up of the company. 
Each ordinary B share of 0.01p carries no right to attend and vote at meetings but is entitled to pari passu to dividend payments or any other distribution and is entitled to participate in a distribution arising from a winding up of the company.



11.


Prior year adjustment

The comparatives have been restated in order to correct prior period errors as follows:

1.To discount an interest-free related party loan to present value using a market rate of interest as a discount factor. This has led to an decrease in debtors of £717,659, an increase in fair value movements of £228,574.

These adjustments have led to a decrease for the loss in 2022 of £228,574 and a decrease in retained earnings brought forward in 2023 of £717,659 (2022: 946,232)

The directors have made these restatements to better enable the financial statements to show a true and fair view.


12.


Related party transactions

At the year end, included in creditors due within more than a year, is the amount of £2,308,325 (2022: £2,050,918) representing an interest bearing equity loan from the group undertaking KH IV Estate 817 via KH IV LEnding 102 Sarl. Interest payable on the loan during the year is £257,408 (2022: £228,704).

The company has taken advantage of the exemption of Section 33 Related Party Disclosures from disclosing transactions with wholly owned members of the group.

13.


Controlling party

The ultimate parent undertaking and ultimate controlling party is Moonraker Real Estate LLP due to it owning 100% of the ordinary issued share capital. The registered office address of Moonraker Real Estate LLP is Second Floor, 60 Charlotte Street, London, United Kingdom, W1T 2NU.

 
Page 10