Caseware UK (AP4) 2023.0.135 2023.0.135 2023-03-01falseNo description of principal activity33falsetruefalse 10286116 2023-03-01 2024-02-29 10286116 2022-03-01 2023-02-28 10286116 2024-02-29 10286116 2023-02-28 10286116 2022-03-01 10286116 c:Director2 2023-03-01 2024-02-29 10286116 d:CurrentFinancialInstruments 2024-02-29 10286116 d:CurrentFinancialInstruments 2023-02-28 10286116 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 10286116 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 10286116 d:ShareCapital 2024-02-29 10286116 d:ShareCapital 2022-03-01 2023-02-28 10286116 d:ShareCapital 2023-02-28 10286116 d:ShareCapital 2022-03-01 10286116 d:SharePremium 2024-02-29 10286116 d:SharePremium 2022-03-01 2023-02-28 10286116 d:SharePremium 2023-02-28 10286116 d:SharePremium 2022-03-01 10286116 d:RetainedEarningsAccumulatedLosses 2023-03-01 2024-02-29 10286116 d:RetainedEarningsAccumulatedLosses 2024-02-29 10286116 d:RetainedEarningsAccumulatedLosses 2022-03-01 2023-02-28 10286116 d:RetainedEarningsAccumulatedLosses 2023-02-28 10286116 d:RetainedEarningsAccumulatedLosses 2022-03-01 10286116 c:OrdinaryShareClass1 2023-03-01 2024-02-29 10286116 c:OrdinaryShareClass1 2024-02-29 10286116 c:OrdinaryShareClass1 2023-02-28 10286116 c:OrdinaryShareClass2 2023-03-01 2024-02-29 10286116 c:OrdinaryShareClass2 2024-02-29 10286116 c:OrdinaryShareClass2 2023-02-28 10286116 c:OrdinaryShareClass3 2023-03-01 2024-02-29 10286116 c:OrdinaryShareClass3 2024-02-29 10286116 c:OrdinaryShareClass3 2023-02-28 10286116 c:OrdinaryShareClass4 2023-03-01 2024-02-29 10286116 c:OrdinaryShareClass4 2024-02-29 10286116 c:OrdinaryShareClass4 2023-02-28 10286116 c:FRS102 2023-03-01 2024-02-29 10286116 c:Audited 2023-03-01 2024-02-29 10286116 c:FullAccounts 2023-03-01 2024-02-29 10286116 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 10286116 c:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 10286116 6 2023-03-01 2024-02-29 10286116 e:PoundSterling 2023-03-01 2024-02-29 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10286116










Holmbury US Holdings Limited










Financial statements

Information for filing with the registrar

For the year ended 29 February 2024

 
Holmbury US Holdings Limited
Registered number: 10286116

Balance sheet
As at 29 February 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
692
692

  
692
692

Current assets
  

Debtors: amounts falling due within one year
 5 
218
218

Cash at bank and in hand
 6 
80
-

  
298
218

Creditors: amounts falling due within one year
 7 
(80)
-

Net current assets
  
 
 
218
 
 
218

Total assets less current liabilities
  
910
910

  

Net assets
  
910
910


Capital and reserves
  

Called up share capital 
  
275
275

Share premium account
  
635
635

  
910
910


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: 




James French
Director
Date: 18 September 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 1

 

 
Holmbury US Holdings Limited


 

Statement of changes in equity
For the year ended 29 February 2024



Called up share capital
Share premium account
Profit and loss account
Total equity


£
£
£
£



At 1 March 2022
275
635
-
910

Total comprehensive income for the year
-
-
-
-





At 1 March 2023
275
635
-
910



Comprehensive income for the year


Profit for the year
-
-
240,008
240,008


Dividends: Equity capital
-
-
(240,008)
(240,008)



At 29 February 2024
275
635
-
910



The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
Holmbury US Holdings Limited
 

 
Notes to the financial statements
For the year ended 29 February 2024

1.


General information

Holmbury US Holdings Limited 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.
The presentation currency of the financial statements is the Pound sterling (£).

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 following principal accounting policies have been applied:

 
2.2

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 comprehensive income 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.

 
2.3

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.

 
2.4

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.

 
2.5

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.
Page 3

 
Holmbury US Holdings Limited
 

 
Notes to the financial statements
For the year ended 29 February 2024

2.Accounting policies (continued)


2.5
Financial instruments (continued)


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.

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.
 
Page 4

 
Holmbury US Holdings Limited
 

 
Notes to the financial statements
For the year ended 29 February 2024

2.Accounting policies (continued)


2.5
Financial instruments (continued)


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.

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.

 
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

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5

 
Holmbury US Holdings Limited
 

 
Notes to the financial statements
For the year ended 29 February 2024

2.Accounting policies (continued)

 
2.8

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 balance sheet 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 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 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 balance sheet date.


3.


Employees




The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


4.


Fixed asset investments








Investments in subsidiary companies

£



Cost or valuation


At 1 March 2023
692



At 29 February 2024
692




Page 6

 
Holmbury US Holdings Limited
 

 
Notes to the financial statements
For the year ended 29 February 2024

5.


Debtors

29 February
28 February
2024
2023
£
£


Amounts owed by group undertakings
218
218

218
218



6.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
80
-

80
-



7.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Amounts owed to group undertakings
80
-

80
-



8.


Share capital

29 February
28 February
2024
2023
£
£
Allotted, called up and fully paid



10,000 (2023 - 10,000) Ordinary shares of £0.01 each
100
100
9,608 (2023 - 9,608) A Ordinary shares of £0.01 each
96
96
2,867 (2023 - 2,867) A2 Ordinary shares of £0.01 each
29
29
5,000 (2023 - 5,000) A3 Ordinary shares of £0.01 each
50
50

275

275



9.


Related party transactions

Holmbury Limited do not 100% own Holmbury US Holdings Limited. As such, Holmbury Limited is also a related party of Holmbury US Holdings Limited. During the year Holmbury US Holdings Limited paid dividends of £178,211 (2023: £Nil) to Holmbury Limited. Holmbury US Holdings paid Matt Mulder (minority shareholder and director) £62,048 in dividends during the year (2023: Nil). 

Page 7

 
Holmbury US Holdings Limited
 

 
Notes to the financial statements
For the year ended 29 February 2024

10.


Controlling party

The ultimate holding company is Holmbury Ltd.


11.


Auditors' information

The auditors' report on the financial statements for the year ended 29 February 2024 was unqualified.

The audit report was signed on 19 September 2024 by Tracey Becker (Senior statutory auditor) on behalf of Kreston Reeves LLP.


Page 8