Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31002023-01-01falseNo description of principal activityfalsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11370898 2023-01-01 2023-12-31 11370898 2022-01-01 2022-12-31 11370898 2023-12-31 11370898 2022-12-31 11370898 c:Director1 2023-01-01 2023-12-31 11370898 d:CurrentFinancialInstruments 2023-12-31 11370898 d:CurrentFinancialInstruments 2022-12-31 11370898 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11370898 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11370898 d:ShareCapital 2023-12-31 11370898 d:ShareCapital 2022-12-31 11370898 d:RetainedEarningsAccumulatedLosses 2023-12-31 11370898 d:RetainedEarningsAccumulatedLosses 2022-12-31 11370898 c:FRS102 2023-01-01 2023-12-31 11370898 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11370898 c:FullAccounts 2023-01-01 2023-12-31 11370898 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11370898 d:Subsidiary1 2023-01-01 2023-12-31 11370898 d:Subsidiary1 1 2023-01-01 2023-12-31 11370898 d:Subsidiary2 2023-01-01 2023-12-31 11370898 d:Subsidiary2 1 2023-01-01 2023-12-31 11370898 d:Subsidiary3 2023-01-01 2023-12-31 11370898 d:Subsidiary3 1 2023-01-01 2023-12-31 11370898 d:Subsidiary4 2023-01-01 2023-12-31 11370898 d:Subsidiary4 1 2023-01-01 2023-12-31 11370898 6 2023-01-01 2023-12-31 11370898 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 11370898










MOUNT STREET HELLAS HOLDINGS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
MOUNT STREET HELLAS HOLDINGS LIMITED
REGISTERED NUMBER: 11370898

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
2
2

  
2
2

Current assets
  

Debtors: amounts falling due within one year
 5 
370,557
379,225

Creditors: amounts falling due within one year
  
(1,318)
(3,745)

Net current assets
  
 
 
369,239
 
 
375,480

Total assets less current liabilities
  
369,241
375,482

  

Net assets
  
369,241
375,482


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
369,239
375,480

  
369,241
375,482


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 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: 




R J Joseph
Director

Date: 12 September 2024
Page 1

 
MOUNT STREET HELLAS HOLDINGS LIMITED
REGISTERED NUMBER: 11370898
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023


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

Page 2

 
MOUNT STREET HELLAS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Mount Street Hellas Holdings Limited is a private company, limited by shares, registered in England and Wales, registration number 11370898. The registered office is 10 Queen Street Place, London, EC4R 1AG.

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 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 accounts have been prepared on a going concern basis, as in the opinion of the directors it is appropriate to assume that the company will continue to receive support from its parent company for a period in excess of 12 months from the date of approval of these financial statements.

 
2.3

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 Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
MOUNT STREET HELLAS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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 reporting 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 reporting 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 reporting date.

 
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

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.

Page 4

 
MOUNT STREET HELLAS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

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 Statement of Financial Position 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.

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
Page 5

 
MOUNT STREET HELLAS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.9
Financial instruments (continued)

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.

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.


3.


Employees




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

Remuneration paid to directors is borne by another group company; the services provided by the directors to the company are so incidental that no remuneration is allocated to Mount Street Hellas Holdings Limited.

Page 6

 
MOUNT STREET HELLAS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
2



At 31 December 2023
2





Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Class of shares

Holding

Mount Street Hellas Investments Limited
Ordinary
100%
Mount Street Hellas Holdco Limited
Ordinary
50%
Mount Street Hellas Advisory Limited
Ordinary
50%
Mount Street Hellas S.A.
Ordinary
50%


5.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
370,557
379,225



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
1,318
-

Corporation tax
-
1,245

Accruals and deferred income
-
2,500

1,318
3,745



7.


Related party transactions

The company has taken advantage of the exemption provided by paragraph 1.12 and 33.1A of FRS 102, not to disclose any transactions with entities that are wholly owned within the group.

Page 7

 
MOUNT STREET HELLAS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Controlling party

The immediate parent undertaking is MSH TopCo Limited, a company registered in the United Kingdom with a registered office 10 Queen Street Place, London EC4R 1AG.
The ultimate parent undertaking is MS Investment Management Limited, a company registered in the United Kingdom with a registered office 10 Queen Street Place, London EC4R 1AG.

 
Page 8