Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-310false2023-01-01truefalse0The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13513337 2023-01-01 2023-12-31 13513337 2021-07-15 2022-12-31 13513337 2023-12-31 13513337 2022-12-31 13513337 c:Director1 2023-01-01 2023-12-31 13513337 c:Director2 2023-01-01 2023-12-31 13513337 c:RegisteredOffice 2023-01-01 2023-12-31 13513337 d:CurrentFinancialInstruments 2023-12-31 13513337 d:CurrentFinancialInstruments 2022-12-31 13513337 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 13513337 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 13513337 d:ShareCapital 2023-12-31 13513337 d:ShareCapital 2022-12-31 13513337 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 13513337 d:RetainedEarningsAccumulatedLosses 2023-12-31 13513337 d:RetainedEarningsAccumulatedLosses 2022-12-31 13513337 c:OrdinaryShareClass1 2023-01-01 2023-12-31 13513337 c:OrdinaryShareClass1 2023-12-31 13513337 c:OrdinaryShareClass1 2022-12-31 13513337 c:FRS102 2023-01-01 2023-12-31 13513337 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 13513337 c:FullAccounts 2023-01-01 2023-12-31 13513337 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13513337 6 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 13513337










MREF IV COLCHESTER HOLDINGS LIMITED

UNAUDITED
FINANCIAL STATEMENTS

FOR THE YEAR ENDED
31 DECEMBER 2023
 

















 
MREF IV COLCHESTER HOLDINGS LIMITED
 

COMPANY INFORMATION


Directors
Marc Gilbard 
Charles Ferguson-Davie 




Registered number
13513337



Registered office
10 Grosvenor Street

Mayfair

London

W1K 4QB





 
MREF IV COLCHESTER HOLDINGS LIMITED
 

CONTENTS



Page
Balance Sheet
 
 
1
Notes to the Financial Statements
 
 
2 - 6


 
MREF IV COLCHESTER HOLDINGS LIMITED
REGISTERED NUMBER: 13513337

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£000
£000

  

Current assets
  

Debtors: amounts falling due within one year
 5 
15,797
11,644

Cash at bank and in hand
 6 
3
2

  
15,800
11,646

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(15,815)
(11,649)

Net current liabilities
  
 
 
(15)
 
 
(3)

Total assets less current liabilities
  
(15)
(3)

  

Net liabilities
  
(15)
(3)


Capital and reserves
  

Called up share capital 
 8 
-
-

Profit and loss account
 9 
(15)
(3)

  
(15)
(3)


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: 




Charles Ferguson-Davie
Director

Date: 24 September 2024

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
MREF IV COLCHESTER HOLDINGS LIMITED
 

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

1.


General information

MREF IV Colchester Holdings Limited is a private company, limited by shares and incorporated in England and Wales, registration number 13513337. The registered office address is 10 Grosvenor Street, Mayfair, London, W1K 4QB.

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 judgement in applying the Company's accounting policies (see note 3).

These financial statements are presented in sterling, which is the functional currency of the Company and rounded to the nearest £'000.
The Current year financial statements cover the 12 month period from 1 January 2023 to 31 December 2023. The Company was incorporated on 15 July 2021 and begun trading on that date and as such the prior period covers the 17 month period from 15 July 2021 to 31 December 2022.

The following principal accounting policies have been applied:

  
2.2

Compliance with accounting standards

The financial statements have been prepared using FRS102, the financial reporting standard applicable in the UK and Republic of Ireland, including the disclosure and presentation requirements of Section 1A, applicable to small companies. There were no material departures from that standard.

 
2.3

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.4

Going concern

The financial statements have been prepared on the going concern basis which assumes that the Group and Company will continue in operational existence for the foreseeable future. In assessing the Group and Company's ability to continue as a going concern, the Directors have reviewed the trading and cash flow forecasts of the Group and Company against the available financing facilities and covenants which include the Directors' assessment of the impact of economic environment. The Company owes £15,797,000 (2022 - £11,644,000) to its parent companies; MREF IV GP Ltd on behalf of MREF IV “A” Limited Partnership, MREF IV “B” Limited Partnership and MREF IV “PC” Limited Partnership and MREF IV Lux GP Sarl on behalf of MREF IV “C” SCSp. This debt is interest free and repayable on demand. The Group and Company have received confirmation from MREF IV GP Ltd on behalf of MREF IV “A” Limited Partnership, MREF IV “B” Limited Partnership and MREF IV “PC” Limited Partnership and MREF IV Lux GP Sarl on behalf of MREF IV “C” SCSp as ultimate controlling party that they do not intend to recall any of the loans owed by the Group and Company within the next 12 months of signing the accounts.

Page 2

 
MREF IV COLCHESTER HOLDINGS LIMITED
 

 
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 balance sheet date in the countries where the Company operates and generates income.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
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.

 
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.

 
2.10

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.

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.

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.

Page 3

 
MREF IV COLCHESTER HOLDINGS LIMITED
 

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

2.Accounting policies (continued)


2.10
Financial instruments (continued)

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 payments 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.

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.

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.

Page 4

 
MREF IV COLCHESTER HOLDINGS LIMITED
 

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

3.


Judgements in applying accounting policies and key sources of estimation uncertainty

In preparing the financial statements, management is required to make judgements, estimates and assumptions which affect reported income, expenses, assets, liabilities and disclosure of contingent assets and liabilities. Use of available information and application of judgement are inherent in the formation of estimates, together with past experience and expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates.
The Directors do not consider the Company to have any key sources of estimation uncertainty.


4.


Employees

The Company has no employees other than the Directors, who did not receive any remuneration (2022 - £Nil).


5.


Debtors

2023
2022
£000
£000


Amounts owed by group undertakings
15,797
11,644


Amounts owed by group undertakings are interest free and repayable on demand. Whilst repayable on demand, the amounts owed by group undertakings are not expected to be recovered in full over the course of the next 12 months.


6.


Cash and cash equivalents

2023
2022
£000
£000

Cash at bank and in hand
3
2



7.


Creditors: Amounts falling due within one year

2023
2022
£000
£000

Amounts owed to group undertakings
15,810
11,649

Accruals and deferred income
5
-

15,815
11,649


Amounts owed to group undertakings are unsecured, interest free and repayable on demand. Whilst repayable on demand, the amounts owed to group undertakings are not expected to be paid in full over the course of the next 12 months.

Page 5

 
MREF IV COLCHESTER HOLDINGS LIMITED
 

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

8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



10,000 (2022 - 10,000) Ordinary shares of £0.01 each
100
100



9.


Reserves

Profit and loss account

The profit and loss account represents cumulative profits and losses net of all adjustments.


10.


Related party transactions

The Company is exempt under the terms of Financial Reporting Standard 102 (FRS 102) paragraph 33.1A, from disclosing related party transactions with other group companies, on the grounds that 100% of the voting rights in the Company are controlled with the Group.


11.


Controlling party

The Company's ultimate controlling parties are as follows:
 
MREF IV "A" Limited Partnership;
MREF IV "B" Limited Partnership;
MREF IV "PC" Limited Partnership; and
MREF IV "C" SCSp (registered in Luxembourg)

These are all limited partnerships registered in England and Wales unless otherwise stated.


Page 6