Caseware UK (AP4) 2023.0.135 2023.0.135 2022-12-312022-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalse42021-10-05letting and operating of own or leased real estatetruefalse 13662090 2021-10-04 13662090 2021-10-05 2022-12-31 13662090 2020-10-05 2021-10-04 13662090 2022-12-31 13662090 c:Director2 2021-10-05 2022-12-31 13662090 d:CurrentFinancialInstruments 2022-12-31 13662090 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 13662090 d:ShareCapital 2022-12-31 13662090 c:OrdinaryShareClass1 2021-10-05 2022-12-31 13662090 c:OrdinaryShareClass1 2022-12-31 13662090 c:FRS102 2021-10-05 2022-12-31 13662090 c:AuditExempt-NoAccountantsReport 2021-10-05 2022-12-31 13662090 c:FullAccounts 2021-10-05 2022-12-31 13662090 c:PrivateLimitedCompanyLtd 2021-10-05 2022-12-31 13662090 e:PoundSterling 2021-10-05 2022-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 13662090










GCUK OPCO LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2022

 
GCUK OPCO LIMITED
REGISTERED NUMBER: 13662090

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
Note
£

  

Current assets
  

Stocks
 4 
51,583

Debtors: amounts falling due within one year
 5 
824,137

Cash at bank and in hand
 6 
1,000

  
876,720

Creditors: amounts falling due within one year
 7 
(876,719)

Net current assets
  
 
 
1

Total assets less current liabilities
  
1

  

Net assets
  
1


Capital and reserves
  

Called up share capital 
 8 
1

  
1


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 period 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 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 by: 




................................................
Justin David Petersen
Director

Date: 17 September 2024

Page 1

 
GCUK OPCO LIMITED
REGISTERED NUMBER: 13662090
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022

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

Page 2

 
GCUK OPCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

1.


General information

GCUK Opco Limited, company number 13662090, is a private company, limited by shares, registered and incorporated in the United Kingdom. The registered office is 54 Portland Place, London, United Kingdom, W1B 1DY.
The Company was incorporated on 5 October 2021, though it did not begin trading in the period. These are the first set of financial statements for the period from incorporation to 31 December 2022.
The Company's principal activity is the operation of the Graduate Cambridge Hotel in Cambridge, United Kingdom.
The entity received assets and liabilities associated with the hotel operations from its fellow group company, GCUK Propco Limited, on 31 December 2022. The fair value of the liabilities transferred was £365,398. Consideration for this transfer has not yet been paid, with the amount being included in 'amounts owed by group undertakings' in note 5. The balance is to be paid at the earliest opportunity.

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.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors confirm that, having reviewed the Company's cash requirements for the next 12 months from the date of signing the financial statements, they have formed a judgement that the Company has reasonable expectations that adequate resources will be available to continue operations for the foreseeable future. Therefore, these financial statements have been prepared on the going concern basis. In forming this judgement, the directors have reviewed forecasts for 2024-25, cash flow projections from the date of the approval of these financial statements, contingency planning and the sufficiency of banking facilities. The directors are comfortable that the Company will generate sufficient value to continue to settle liabilities as they fall due.

 
2.3

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 3

 
GCUK OPCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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. 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.

 
2.6

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.

 
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.

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
Page 4

 
GCUK OPCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

2.Accounting policies (continued)


2.7
Financial instruments (continued)

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 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.

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 period was 4.

Page 5

 
GCUK OPCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

4.


Stocks

2022
£

Raw materials and consumables
51,583



5.


Debtors

2022
£


Trade debtors
164,225

Amounts owed by group undertakings
365,399

Other debtors
195,447

Prepayments and accrued income
99,066

824,137



6.


Cash and cash equivalents

2022
£

Cash at bank and in hand
1,000



7.


Creditors: Amounts falling due within one year

2022
£

Trade creditors
229,764

Other creditors
110,524

Accruals and deferred income
536,431

876,719



8.


Share capital

2022
£
Allotted, called up and fully paid


100 Ordinary shares of £0.01 each
1

Page 6

 
GCUK OPCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

8.Share capital (continued)


On incorporation, the Company issued 100 Ordinary £0.01 shares.
Ordinary shareholders have the right to receive notice of, and to attend, speak and vote at all general meetings of the Company, with the right to cast a vote for each Ordinary share of which he is the holder.


9.


Related party transactions

Refer to note 5 for disclosure of the related party transactions. All related party transactions were with wholly owned companies within the group and are therefore exempt from disclosure under FRS102 Section 33.1 A.

Page 7