Caseware UK (AP4) 2023.0.135 2023.0.135 No description of principal activityThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-01-01false21falsetrue NI617812 2023-01-01 2023-12-31 NI617812 2022-01-01 2022-12-31 NI617812 2023-12-31 NI617812 2022-12-31 NI617812 c:Director1 2023-01-01 2023-12-31 NI617812 d:FurnitureFittings 2023-01-01 2023-12-31 NI617812 d:FurnitureFittings 2023-12-31 NI617812 d:FurnitureFittings 2022-12-31 NI617812 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 NI617812 d:CurrentFinancialInstruments 2023-12-31 NI617812 d:CurrentFinancialInstruments 2022-12-31 NI617812 d:Non-currentFinancialInstruments 2023-12-31 NI617812 d:Non-currentFinancialInstruments 2022-12-31 NI617812 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 NI617812 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 NI617812 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 NI617812 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 NI617812 d:ShareCapital 2023-12-31 NI617812 d:ShareCapital 2022-12-31 NI617812 d:RetainedEarningsAccumulatedLosses 2023-12-31 NI617812 d:RetainedEarningsAccumulatedLosses 2022-12-31 NI617812 c:OrdinaryShareClass1 2023-01-01 2023-12-31 NI617812 c:OrdinaryShareClass1 2023-12-31 NI617812 c:OrdinaryShareClass1 2022-12-31 NI617812 c:FRS102 2023-01-01 2023-12-31 NI617812 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 NI617812 c:FullAccounts 2023-01-01 2023-12-31 NI617812 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 NI617812 2 2023-01-01 2023-12-31 NI617812 6 2023-01-01 2023-12-31 NI617812 3 2023-12-31 NI617812 3 2022-12-31 NI617812 f:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: NI617812










Ferguson Hill Asset Management Ltd








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 December 2023

 
Ferguson Hill Asset Management Ltd
Registered number: NI617812

Balance Sheet
As at 31 December 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,443
3,450

Investments
 5 
27,835
27,835

  
31,278
31,285

Current assets
  

Debtors: amounts falling due within one year
 6 
216,956
89,419

Cash at bank and in hand
  
446,298
409,234

  
663,254
498,653

Creditors: amounts falling due within one year
 7 
(125,718)
(62,992)

Net current assets
  
 
 
537,536
 
 
435,661

Total assets less current liabilities
  
568,814
466,946

Creditors: amounts falling due after more than one year
 8 
(19,041)
(21,571)

Net assets
  
549,773
445,375


Capital and reserves
  

Called up share capital 
 9 
16,500
16,500

Profit and loss account
  
533,273
428,875

  
549,773
445,375


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Ferguson Hill Asset Management Ltd
Registered number: NI617812

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 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 12 March 2024.



Lynne Davidson
Director

The notes on pages 3 to 8 form part of these financial statements.
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Ferguson Hill Asset Management Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2023

1.


General information

Ferguson Hill Asset Management Ltd is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI617812. The registered office of the company is 238 Upper Newtownards Road, Belfast, BT4 3EU which is also the principal place of business of the company. The principal activity of the company during the year was that of management consultancy activities other than financial management. The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the 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 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 financial statements have been prepared using the going concern basis of accounting. The directors have considered the resources available to the company and all other current information available to the company and they believe that the going concern basis of accounting is appropriate.

  
2.3

Turnover

Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.

 
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.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

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Ferguson Hill Asset Management Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2023

2.Accounting policies (continued)

 
2.7

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.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Valuation of investments

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.

 
2.10

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.

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Ferguson Hill Asset Management Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2023

2.Accounting policies (continued)

 
2.11

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.

 
2.12

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.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Directors
2
1


4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 January 2023
5,736


Additions
1,032



At 31 December 2023

6,768



Depreciation


At 1 January 2023
2,286


Charge for the year on owned assets
1,039



At 31 December 2023

3,325



Net book value



At 31 December 2023
3,443



At 31 December 2022
3,450

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Ferguson Hill Asset Management Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2023

5.


Fixed asset investments





Other fixed asset investments

£



Cost or valuation


At 1 January 2023
27,835



At 31 December 2023
27,835






Net book value



At 31 December 2023
27,835



At 31 December 2022
27,835

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Ferguson Hill Asset Management Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2023

6.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
-
1,528

Other debtors
153,286
74,302

Prepayments and accrued income
12,478
13,589

Tax recoverable
51,192
-

216,956
89,419



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
498
3,280

Bank loans
3,726
3,726

Trade creditors
18,062
26,382

Amounts owed to group undertakings
13,183
-

Corporation tax
72,810
12,001

Other taxation and social security
-
164

Other creditors
15,939
15,939

Accruals and deferred income
1,500
1,500

125,718
62,992



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
19,041
21,571

19,041
21,571



9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



16,500 (2022 - 16,500) Ordinary Shares shares of £1.00 each
16,500
16,500


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Page 7

 
Ferguson Hill Asset Management Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2023

10.


Director's advances, credits and guarantees

During the financial year, the company made loans to a director amounting to £78,714 (2022: £74,302). The balance outstanding at the year end was £153,016 (2022: £74,302). Interest is charged at a rate of 2.50% per annum and the loan is repayable on demand.


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