Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31providing consultancy servicesfalse102023-01-01false9truetrue 11182292 2023-01-01 2023-12-31 11182292 2022-01-01 2022-12-31 11182292 2023-12-31 11182292 2022-12-31 11182292 c:Director1 2023-01-01 2023-12-31 11182292 c:RegisteredOffice 2023-01-01 2023-12-31 11182292 d:PlantMachinery 2023-01-01 2023-12-31 11182292 d:PlantMachinery 2023-12-31 11182292 d:PlantMachinery 2022-12-31 11182292 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11182292 d:FurnitureFittings 2023-01-01 2023-12-31 11182292 d:FurnitureFittings 2023-12-31 11182292 d:FurnitureFittings 2022-12-31 11182292 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11182292 d:OfficeEquipment 2023-01-01 2023-12-31 11182292 d:OfficeEquipment 2023-12-31 11182292 d:OfficeEquipment 2022-12-31 11182292 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11182292 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11182292 d:CurrentFinancialInstruments 2023-12-31 11182292 d:CurrentFinancialInstruments 2022-12-31 11182292 d:Non-currentFinancialInstruments 2023-12-31 11182292 d:Non-currentFinancialInstruments 2022-12-31 11182292 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11182292 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11182292 d:ShareCapital 2023-12-31 11182292 d:ShareCapital 2022-12-31 11182292 d:SharePremium 2023-12-31 11182292 d:SharePremium 2022-12-31 11182292 d:OtherMiscellaneousReserve 2023-12-31 11182292 d:OtherMiscellaneousReserve 2022-12-31 11182292 d:RetainedEarningsAccumulatedLosses 2023-12-31 11182292 d:RetainedEarningsAccumulatedLosses 2022-12-31 11182292 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-12-31 11182292 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2022-12-31 11182292 c:FRS102 2023-01-01 2023-12-31 11182292 c:Audited 2023-01-01 2023-12-31 11182292 c:FullAccounts 2023-01-01 2023-12-31 11182292 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11182292 d:WithinOneYear 2023-12-31 11182292 d:WithinOneYear 2022-12-31 11182292 d:BetweenOneFiveYears 2023-12-31 11182292 d:BetweenOneFiveYears 2022-12-31 11182292 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11182292 2 2023-01-01 2023-12-31 11182292 6 2023-01-01 2023-12-31 11182292 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Company registration number: 11182292







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


CVA CORPORATE VALUE ASSOCIATES UK LIMITED






































img3f06.png                        

 


CVA CORPORATE VALUE ASSOCIATES UK LIMITED
 


 
COMPANY INFORMATION


Director
Paul-Andre Rabate 




Registered number
11182292



Registered office
44 Great Marlborough Street

London

W1F 7JL




Independent auditors
Menzies LLP
Chartered Accountants & Statutory Auditor

Lynton House

7-12 Tavistock Square

London

WC1H 9LT





 


CVA CORPORATE VALUE ASSOCIATES UK LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 10


 


CVA CORPORATE VALUE ASSOCIATES UK LIMITED
REGISTERED NUMBER:11182292



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
As restated 2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
28,901
37,022

Investments
 5 
1,079,554
1,079,554

  
1,108,455
1,116,576

Current assets
  

Debtors: amounts falling due after more than one year
 6 
67,210
67,210

Debtors: amounts falling due within one year
 6 
1,099,998
1,211,263

Cash at bank and in hand
 7 
511,592
825,234

  
1,678,800
2,103,707

Creditors: amounts falling due within one year
 8 
(789,559)
(910,853)

Net current assets
  
 
 
889,241
 
 
1,192,854

Total assets less current liabilities
  
1,997,696
2,309,430

Provisions for liabilities
  

Other provisions
  
(50,000)
(50,000)

  
 
 
(50,000)
 
 
(50,000)

Net assets
  
1,947,696
2,259,430


Capital and reserves
  

Called up share capital 
  
10,001
10,001

Share premium account
  
16,153
16,153

Other reserves
  
1,779,769
1,779,769

Profit and loss account
  
141,773
453,507

  
1,947,696
2,259,430


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: 


Paul-Andre Rabate
Page 1

 


CVA CORPORATE VALUE ASSOCIATES UK LIMITED
REGISTERED NUMBER:11182292


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

Director

Date: 23 September 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 


CVA CORPORATE VALUE ASSOCIATES UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The Company is a private limited Company (Limited by shares) incorporated in England and Wales. The Company's registered office is 44 Great Marlborough Street, London, W1F 7JL.
The Company's principal activity is that of providing consultancy services.

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

Exemption from preparing consolidated financial statements

The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of state other than the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 401 of the Companies Act 2006.

 
2.3

Going concern

The financial statements are prepared on a going concern basis. The Company has assurances of the financial support provided by its ultimate parent company Corporate Value Associates Netherlands B.V. The director has received confirmation that the ultimate parent company will continue to support the Company and provide it with adequate funds when necessary to enable it to meet its debts as they fall due for at least a period of 12 months from the date of signing these financial statements.
Having regard to the above, the director believes it appropriate to adopt the going concern basis of accounting in preparing the financial statements.

Page 3

 


CVA CORPORATE VALUE ASSOCIATES UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.5

Revenue

Turnover comprise the fair value of the consideration received or receivable for the recharge of the
salaries and bonuses of management in accordance with its intercompany agreement as well as
costs incurred that are recharged to other group companies at a mark-up in accordance with its
intercompany agreement.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Revenue is derived from bespoke consulting services to several industries including retail,
financial services, energy, public sector, metals mining and materials.
Revenue also includes amounts pertaining to disbursements.

 
2.6

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 4

 


CVA CORPORATE VALUE ASSOCIATES UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

Interest income

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

 
2.8

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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

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.

 
2.10

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.

Depreciation is provided on the following basis:

Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Office equipment
-
4 years 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.

Page 5

 


CVA CORPORATE VALUE ASSOCIATES UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.11

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 reporting date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings 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 reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.12

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.

 
2.13

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.

 
2.14

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.

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.16

Financial instruments

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

Page 6

 


CVA CORPORATE VALUE ASSOCIATES UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees

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


        2023
        2022
            No.
            No.







Employees
10
9


4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2023
46,014
226,455
86,892
359,361


Additions
479
-
2,902
3,381



At 31 December 2023

46,493
226,455
89,794
362,742



Depreciation


At 1 January 2023
34,836
209,040
78,463
322,339


Charge for the year on owned assets
2,916
4,356
4,230
11,502



At 31 December 2023

37,752
213,396
82,693
333,841



Net book value



At 31 December 2023
8,741
13,059
7,101
28,901



At 31 December 2022
11,178
17,415
8,429
37,022


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
1,079,554



At 31 December 2023
1,079,554




Page 7

 


CVA CORPORATE VALUE ASSOCIATES UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors
67,210
67,210

67,210
67,210


2023
2022
£
£

Due within one year

Trade debtors
131,235
622,474

Amounts owed by group undertakings
824,177
382,262

Amounts owed by joint ventures and associated undertakings
1,779
1,779

Other debtors
36,756
34,387

Prepayments and accrued income
106,051
170,361

1,099,998
1,211,263



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
511,592
825,234

511,592
825,234



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
57,651
84,537

Amounts owed to group undertakings
478,107
390,157

Other taxation and social security
82,063
156,984

Other creditors
140,765
104,111

Accruals and deferred income
30,973
175,064

789,559
910,853


Page 8

 


CVA CORPORATE VALUE ASSOCIATES UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Provisions





Dilapidations provision

£





At 1 January 2023
50,000



At 31 December 2023
50,000


10.


Prior year adjustment

A prior year adjustment has been made to recognise a dilapidations provision relating to the costs associated with restoring the rental property at the end of the lease into the same condition it was when the lease commenced.


11.


Pension commitments

The Company operates a define contributions pension scheme. The assets of the scheme are held separately from those of the Company in an indenpendently administered fund. The pension cost charge represents contritbutions payable by the Company to the fund and amounted to £9,937 (2022 - £9,661). Contributions totalling £3,965 (2022 - £4,758) were payable to the fund at the balance sheet date and are included in creditors.


12.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
193,588
193,588

Later than 1 year and not later than 5 years
80,662
274,250

274,250
467,838


13.


Controlling party

The company is wholly owned by Corporate Value Associates Netherlands B.V., a limited company incorporated in Netherlands, registered Kingsfordweg 151, 1043 GR Amsterdam, Netherlands. Corporate Value Associates Netherlands B.V. is the only group for which consolidated financial statements are prepared in which the Company is included. These consolidated accounts can be obtained from this address.

Page 9

 


CVA CORPORATE VALUE ASSOCIATES UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

14.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 24 September 2024 by Sarah Hallam FCA (Senior Statutory Auditor) on behalf of Menzies LLP.

 
Page 10