Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseNo description of principal activity33truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02704011 2023-01-01 2023-12-31 02704011 2022-01-01 2022-12-31 02704011 2023-12-31 02704011 2022-12-31 02704011 2022-01-01 02704011 c:Director3 2023-01-01 2023-12-31 02704011 d:MotorVehicles 2023-01-01 2023-12-31 02704011 d:OfficeEquipment 2023-01-01 2023-12-31 02704011 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 02704011 d:OtherPropertyPlantEquipment 2022-12-31 02704011 d:FreeholdInvestmentProperty 2023-01-01 2023-12-31 02704011 d:FreeholdInvestmentProperty 2023-12-31 02704011 d:FreeholdInvestmentProperty 2022-12-31 02704011 d:CurrentFinancialInstruments 2023-12-31 02704011 d:CurrentFinancialInstruments 2022-12-31 02704011 d:Non-currentFinancialInstruments 2023-12-31 02704011 d:Non-currentFinancialInstruments 2022-12-31 02704011 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 02704011 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 02704011 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 02704011 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 02704011 d:ShareCapital 2023-12-31 02704011 d:ShareCapital 2022-12-31 02704011 d:RevaluationReserve 2023-12-31 02704011 d:RevaluationReserve 2022-12-31 02704011 d:RetainedEarningsAccumulatedLosses 2023-12-31 02704011 d:RetainedEarningsAccumulatedLosses 2022-12-31 02704011 c:FRS102 2023-01-01 2023-12-31 02704011 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 02704011 c:FullAccounts 2023-01-01 2023-12-31 02704011 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02704011 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 02704011 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 02704011 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 02704011 d:TaxLossesCarry-forwardsDeferredTax 2022-12-31 02704011 6 2023-01-01 2023-12-31 02704011 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 02704011









GREAT BEAR INVESTMENTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
GREAT BEAR INVESTMENTS LIMITED
REGISTERED NUMBER: 02704011

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible fixed assets
 4 
18,286
23,632

Fixed asset investments
 6 
2
2

Investment property
 5 
7,489,623
7,482,914

  
7,507,911
7,506,548

Current assets
  

Debtors
 7 
795,837
628,808

Bank & cash balances
  
263,773
264,254

  
1,059,610
893,062

Creditors: amounts falling due within one year
 8 
(3,229,418)
(1,888,579)

Net current liabilities
  
 
 
(2,169,808)
 
 
(995,517)

Total assets less current liabilities
  
5,338,103
6,511,031

Creditors: amounts falling due after more than one year
 9 
(603,545)
(1,735,191)

Provisions for liabilities
  

Deferred tax
 10 
(356,870)
(356,870)

  
 
 
(356,870)
 
 
(356,870)

Net assets
  
4,377,688
4,418,970


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Non-distributable reserve
  
2,932,740
2,932,740

Profit and loss account
  
1,443,948
1,485,230

  
4,377,688
4,418,970


Page 1

 
GREAT BEAR INVESTMENTS LIMITED
REGISTERED NUMBER: 02704011
    
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 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 26 September 2024.




Dr N Greenwold
Director

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

Page 2

 
GREAT BEAR INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


GENERAL INFORMATION

Great Bear Investments Limited is a private company limited by shares and registered in England & Wales. The address of its registered office is 124 Finchley Road, London, NW3 5JS.

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

The following principal accounting policies have been applied:

 
2.2

ASSOCIATES AND JOINT VENTURES

Investments in associates and joint ventures are held at cost less impairment.

 
2.3

REVENUE

Revenue represents rent receivable excluding Value Added Tax, and other sums receivable in connection with the company's properties.

 
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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
on written down value
Office equipment
-
15%
on written down value

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 3

 
GREAT BEAR INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.5

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.

 
2.6

INVESTMENT PROPERTY

Investment property is carried at fair value determined by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

VALUATION OF INVESTMENTS

Investments held as fixed assets are shown at cost less provision for impairment. 

 
2.8

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.

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.

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 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
Page 4

 
GREAT BEAR INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)


2.8
FINANCIAL INSTRUMENTS (continued)

the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.9

FUNCTIONAL AND PRESENTATIONAL CURRENCY

The Company's functional and presentational currency is GBP.

 
2.10

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.

 
2.11

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.

 
2.12

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. 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.

Page 5

 
GREAT BEAR INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.



JUDGMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the reporting date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. 
The following are the company's key sources of estimation uncertainty:
Revaluation of investment properties
Investment properties are valued annually using a yield methodology using market rental values capitalised at a market capitalisation rate, but there is an inevitable degree of judgement involved in that each property is unique and value can only ultimately be reliably tested in the market itself.


4.


TANGIBLE FIXED ASSETS





Other fixed assets

£



Cost or valuation


At 1 January 2023
27,581



At 31 December 2023
27,581



Depreciation


At 1 January 2023
3,949


Charge for the year on owned assets
5,346



At 31 December 2023
9,295



Net book value



At 31 December 2023
18,286



At 31 December 2022
23,632

Page 6

 
GREAT BEAR INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


INVESTMENT PROPERTY


Freehold investment property

£



Valuation


At 1 January 2023
7,482,914


Additions at cost
6,709



At 31 December 2023
7,489,623





6.


FIXED ASSET INVESTMENTS





Investments in subsidiary companies
Investments in associates
Total

£
£
£



COST


At 1 January 2023
1
1
2



At 31 December 2023
1
1
2





7.


DEBTORS

2023
2022
£
£



Trade debtors
123,852
117,358

Other debtors
662,118
474,441

Prepayments and accrued income
9,867
37,009

795,837
628,808


Page 7

 
GREAT BEAR INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


CREDITORS: Amounts falling due within one year

2023
2022
£
£

Trade creditors
18,092
10,885

Other taxation and social security
25,725
1,100

Other creditors
3,043,379
1,584,131

Accruals and deferred income
142,222
292,463

3,229,418
1,888,579



9.


CREDITORS: Amounts falling due after more than one year

2023
2022
£
£

Other loans
603,545
1,735,191



10.


DEFERRED TAXATION




2023
2022


£

£






At beginning of year
356,870
271,221


Charged to profit or loss
-
85,649



At end of year
356,870
356,870

The provision for deferred taxation is made up as follows:

2023
2022
£
£


On revaluation of investment property
356,870
271,221

Changes to tax rate
-
85,649

356,870
356,870

 
Page 8