Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseNo description of principal activity00truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11724139 2023-01-01 2023-12-31 11724139 2022-01-01 2022-12-31 11724139 2023-12-31 11724139 2022-12-31 11724139 1 2023-01-01 2023-12-31 11724139 d:Director1 2023-01-01 2023-12-31 11724139 c:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 11724139 c:PatentsTrademarksLicencesConcessionsSimilar 2022-12-31 11724139 c:CurrentFinancialInstruments 2023-12-31 11724139 c:CurrentFinancialInstruments 2022-12-31 11724139 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 11724139 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 11724139 c:ShareCapital 2023-12-31 11724139 c:ShareCapital 2022-12-31 11724139 c:SharePremium 2023-12-31 11724139 c:SharePremium 2022-12-31 11724139 c:RetainedEarningsAccumulatedLosses 2023-12-31 11724139 c:RetainedEarningsAccumulatedLosses 2022-12-31 11724139 d:OrdinaryShareClass1 2023-01-01 2023-12-31 11724139 d:OrdinaryShareClass1 2023-12-31 11724139 d:OrdinaryShareClass1 2022-12-31 11724139 d:OrdinaryShareClass2 2023-01-01 2023-12-31 11724139 d:OrdinaryShareClass2 2023-12-31 11724139 d:OrdinaryShareClass2 2022-12-31 11724139 d:FRS102 2023-01-01 2023-12-31 11724139 d:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11724139 d:FullAccounts 2023-01-01 2023-12-31 11724139 d:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11724139 c:PatentsTrademarksLicencesConcessionsSimilar c:OwnedIntangibleAssets 2023-01-01 2023-12-31 11724139 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 11724139









HAB ROWAN HOLDINGS LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
HAB ROWAN HOLDINGS LTD
REGISTERED NUMBER: 11724139

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 5 
10,644
47,644

Current assets
  

Debtors: amounts falling due within one year
 6 
2
2

Cash at bank and in hand
  
4,230
4,133

  
4,232
4,135

Creditors: amounts falling due within one year
 7 
(625,313)
(611,191)

Net current liabilities
  
 
 
(621,081)
 
 
(607,056)

Total assets less current liabilities
  
(610,437)
(559,412)

Net liabilities
  
(610,437)
(559,412)


Capital and reserves
  

Called up share capital 
 8 
4
4

Share premium account
  
14,439
14,439

Profit and loss account
  
(624,880)
(573,855)

Total equity
  
(610,437)
(559,412)


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 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 23 September 2024.




N H Jacobs
Page 1

 
HAB ROWAN HOLDINGS LTD
REGISTERED NUMBER: 11724139
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

Director

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

Page 2

 
HAB ROWAN HOLDINGS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

HAB Rowan Holdings Ltd is a private company, limited by shares, registered in England and Wales. The Company's registered number and registered office address can be found on the Company Information page.

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 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

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);.

 
2.3

Going concern

These financial statements have been prepared on a going concern basis. The Company is dependent upon the continued financial support of the shareholders to continue operating and to meet its liabilities as they fall due. The shareholders agrees to continue to provide financial support to the Company and not to call on the intercompany loan until such a time as the Company is in a position to repay the loan. Accordingly the directors have prepared the accounts under the going concern concept.
No material uncertainties that may cast significant doubt about the ability of the Company to continue as a going concern have been identified by the directors.

 
2.4

Interest payable and similar expenses

Borrowing costs are recognised in profit or loss in the period in which they are incurred.

Page 3

 
HAB ROWAN HOLDINGS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Taxation

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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of financial position 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 balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

  
2.6

Intangible assets

Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Income statement over its useful economic life of 5 years.
Other intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Intangible assets comprise the HAB brand acquired in April 2019. Management determine the useful life of the brand to be 5 years with amortisation calculated on a straight line basis. 

 
2.7

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.

Page 4

 
HAB ROWAN HOLDINGS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
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

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.


3.


Employees

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


4.


Taxation

The Company is subject to a corporation tax rate of 19% (2022: 19%). Due to the taxable losses occurred in the current period the corporation tax liability at the year end was £Nil (2022: £Nil).


5.


Intangible assets




Patents

£



Cost


At 1 January 2023
225,000



At 31 December 2023

225,000



Amortisation


At 1 January 2023
177,356


Charge for the year 
37,000



At 31 December 2023

214,356



Net book value



At 31 December 2023
10,644



At 31 December 2022
47,644

Page 5

 
HAB ROWAN HOLDINGS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
 
           5.Intangible assets (continued)




6.


Debtors: amounts falling due within one year

2023
2022
£
£

Called up share capital not paid
2
2

2
2



7.


Creditors: amounts falling due within one year

2023
2022
£
£

Trade creditors
9,419
9,107

Amounts owed to related companies
270,127
257,494

Shareholder loan
332,326
332,530

Accruals and deferred income
2,700
1,350

Director loans
8,000
8,000

VAT payable
2,741
2,710

625,313
611,191


Included within amounts owed to related companies is an amount of £210,559 (2022: £210,559) owed to Rowan Strategic Asset Management Ltd ('RSAM'), a related party by way of sharing a common director and interest accrued on the loan of £59,568 (2022: £46,935). Interest is accrued on the additional loan at a rate of 6% per annum. Interest charged during the year amounts to £12,634 (2022: £12,634) and is rolled up into the balance.
Shareholder loan comprises unsecured interest free loan owed to RSAM, repayable on demand.


8.


Called up share capital

2023
2022
£
£
Allotted, called up and fully paid



20,000 (2022: 20,000) Ordinary A shares of £0.0001 each
2.0
2.0
17,038 (2022: 17,000) Ordinary B shares of £0.0001 each
1.7
1.7

3.7

3.7

Page 6

 
HAB ROWAN HOLDINGS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Related party transactions

Transactions and balances with the related parties during the year and as at Statement of Financial position date, respectively, have been disclosed in notes , 7 and 8.


10.


Events after the reporting date

There were no significant events subsequent to the year end to report.

Page 7