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Registered number: 07877145









HEN GASTELL INVESTMENTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
HEN GASTELL INVESTMENTS LIMITED
REGISTERED NUMBER: 07877145

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
16,564

Investments
 5 
-
2,450,000

  
-
2,466,564

Current assets
  

Debtors: amounts falling due within one year
 6 
3,418,126
2,093,216

Current asset investments
  
2,450,000
-

Cash at bank and in hand
  
16,083
6,195

  
5,884,209
2,099,411

Creditors: amounts falling due within one year
 8 
(4,513,181)
(3,748,487)

Net current assets/(liabilities)
  
 
 
1,371,028
 
 
(1,649,076)

Total assets less current liabilities
  
1,371,028
817,488

  

Net assets
  
1,371,028
817,488


Capital and reserves
  

Called up share capital 
 9 
400
400

Profit and loss account
  
1,370,628
817,088

  
1,371,028
817,488


Page 1

 
HEN GASTELL INVESTMENTS LIMITED
REGISTERED NUMBER: 07877145
    
STATEMENT OF FINANCIAL POSITION (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 by: 





D U Garistina
Director

Date: 21 September 2024

Page 2

 
HEN GASTELL INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


GENERAL INFORMATION

Hen Gastell Investments Limited ('the Company'), a company limited by shares, is principally engaged in trading derivative financial instruments and providing capital fund management services through membership of Limited Liability Partnerships.
The Company's registered address is 35 Ballards Lane, London N3 1XW.

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

Following the year end, the Company ceased trading and these financial statements are prepared on a basis other than going concern. No provision for future costs of terminating the business, except to the extent that the costs were committed at the year end date, is included within the financial statements.

 
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. 
Turnover comprises revenue recognised by the Company in respect of profits allocated by the Limited Liability Partnerships of which it is a member.
Profits are recognised only when they have been irrevocably allocated by the management of the LLPs of which the Company is a member. 

 
2.4

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.

Page 3

 
HEN GASTELL INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)


2.4
TANGIBLE FIXED ASSETS (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
reducing balance
Computer equipment
-
33%
straight line

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.

 
2.5

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.6

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, and loans to related parties.

(i) Financial assets
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, 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.
Such assets are subsequently carried at amortised cost using the effective interest method. 
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings. 
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
(ii) Financial liabilities
Basic financial liabilities, including other creditors and accruals, and amounts due to group undertakings are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
 
Page 4

 
HEN GASTELL INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)


2.6
FINANCIAL INSTRUMENTS (continued)


Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
(iii) Offsetting
Financial assets and liabilities are offset and 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.

 
2.7

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.

 
2.8

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.

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.

  
2.9

SHARE CAPITAL

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

 
2.10

INTEREST INCOME

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

 
2.11

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.

Page 5

 
HEN GASTELL INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


TANGIBLE FIXED ASSETS





Motor vehicles
Fixtures and fittings
Total

£
£
£



COST 


At 1 January 2023
63,865
10,499
74,364


Disposals
(63,865)
-
(63,865)



At 31 December 2023

-
10,499
10,499



Depreciation


At 1 January 2023
47,301
10,499
57,800


Charge for the year on owned assets
4,141
-
4,141


Disposals
(51,442)
-
(51,442)



At 31 December 2023

-
10,499
10,499



Net book value



At 31 December 2023
-
-
-



At 31 December 2022
16,564
-
16,564


5.


FIXED ASSET INVESTMENTS





Investments in associates

£



COST


At 1 January 2023
2,450,000


Disposals
(2,450,000)



At 31 December 2023
-




The investments in associates were transferred to current assets investments as the financial statements are prepared on the basis other than going concern.

Page 6

 
HEN GASTELL INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


DEBTORS

2023
2022
£
£


Other debtors
3,418,126
2,093,216



7.


CURRENT ASSET INVESTMENTS

2023
2022
£
£

Investment in associates
2,450,000
-



8.


CREDITORS: Amounts falling due within one year

2023
2022
£
£

Amounts owed to joint ventures
1,398,621
1,152,850

Other creditors
2,972,963
2,472,451

Accruals and deferred income
141,597
123,186

4,513,181
3,748,487



9.


SHARE CAPITAL

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary A shares of £1.00 each
100
100
100 (2022 - 100) Ordinary B shares of £1.00 each
100
100
100 (2022 - 100) Ordinary C shares of £1.00 each
100
100
100 (2022 - 100) Ordinary D shares of £1.00 each
100
100

400

400



10.


POST BALANCE SHEET EVENTS

Following the year end the Company ceased trading.

 
Page 7