Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31true2023-01-01falseNo description of principal activity22falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02174088 2023-01-01 2023-12-31 02174088 1 2023-01-01 2023-12-31 02174088 2022-01-01 2022-12-31 02174088 2023-12-31 02174088 2022-12-31 02174088 d:Director3 2023-01-01 2023-12-31 02174088 c:CurrentFinancialInstruments 2023-12-31 02174088 c:CurrentFinancialInstruments 2022-12-31 02174088 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 02174088 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 02174088 c:ShareCapital 2023-12-31 02174088 c:ShareCapital 2022-12-31 02174088 c:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 02174088 c:RetainedEarningsAccumulatedLosses 2023-12-31 02174088 c:RetainedEarningsAccumulatedLosses 2022-12-31 02174088 d:OrdinaryShareClass1 2023-01-01 2023-12-31 02174088 d:OrdinaryShareClass1 2023-12-31 02174088 d:OrdinaryShareClass1 2022-12-31 02174088 d:OrdinaryShareClass2 2023-01-01 2023-12-31 02174088 d:OrdinaryShareClass2 2023-12-31 02174088 d:OrdinaryShareClass2 2022-12-31 02174088 d:FRS102 2023-01-01 2023-12-31 02174088 d:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 02174088 d:FullAccounts 2023-01-01 2023-12-31 02174088 d:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02174088 2 2023-01-01 2023-12-31 02174088 6 2023-01-01 2023-12-31 02174088 c:OtherDeferredTax 2023-12-31 02174088 c:OtherDeferredTax 2022-12-31 02174088 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 02174088









ERMGASSEN & CO. LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
ERMGASSEN & CO. LIMITED
REGISTERED NUMBER: 02174088

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 5 
1,287,734
612,685

  
1,287,734
612,685

Current assets
  

Debtors: amounts falling due within one year
 6 
22,617
6,998

Cash at bank and in hand
 7 
760,097
1,118,499

  
782,714
1,125,497

Creditors: amounts falling due within one year
 8 
(6,830)
(7,393)

Net current assets
  
 
 
775,884
 
 
1,118,104

Total assets less current liabilities
  
2,063,618
1,730,789

Provisions for liabilities
  

Deferred tax
 9 
-
(2,444)

  
 
 
-
 
 
(2,444)

Net assets
  
2,063,618
1,728,345


Capital and reserves
  

Called up share capital 
 10 
741,027
741,027

Profit and loss account
 11 
1,322,591
987,318

  
2,063,618
1,728,345


The director considers 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 director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.


 
Page 1

 
ERMGASSEN & CO. LIMITED
REGISTERED NUMBER: 02174088
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

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 director and signed on 22 August 2024.




S. H. Leissler
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
ERMGASSEN & CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Ermgassen & Co. Limited is a private company limited by share capital, incorporated in England and Wales, registration number 02174088. The address of the registered office is 30 Orange Street, London, WC2H 7HF. 

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 following principal accounting policies have been applied:

 
2.2

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 represents corporate advisory fees and income from investments.
The following criteria must also be met before revenue is recognised:
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.

 
2.3

Valuation of investments

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.

 
2.4

Debtors

Short term debtors are measured at transaction price, less any impairment. 

Page 3

 
ERMGASSEN & CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.6

Creditors

Short term creditors are measured at the transaction price.

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of income and retained earnings.
Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an 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.
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 Statement of income and retained earnings. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment. 

Page 4

 
ERMGASSEN & CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

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'.

 
2.9

Interest income

Interest income is recognised in the Statement of income and retained earnings as received.

 
2.10

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 the Income statement 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.

Page 5

 
ERMGASSEN & CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.11

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.

 
2.12

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.

Page 6

 
ERMGASSEN & CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Taxation


2023
2022
£
£



Total current tax
-
-

Deferred tax


Revaluation (losses) / gains
(21,439)
2,444

Total deferred tax
(21,439)
2,444


Taxation on (loss)/profit on ordinary activities
(21,439)
2,444

Factors affecting tax charge for the year

The company has brought forward losses to offset against the current year profit.


Factors that may affect future tax charges

The company has tax losses of £271,632 to carry forward against future profits.


4.


Employees

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


5.


Fixed asset investments





Listed investments

£



Cost or valuation


At 1 January 2023
612,685


Additions
762,793


Revaluations
(85,756)


Equalisation 
(1,988)



At 31 December 2023
1,287,734




Page 7

 
ERMGASSEN & CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£


Other debtors
2,595
6,188

Prepayments
1,027
810

Deferred taxation
18,995
-

22,617
6,998



7.


Cash

2023
2022
£
£

Cash at bank
760,097
1,118,499

760,097
1,118,499



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
1,440
1,984

Other taxation and social security
1,890
3,409

Accruals
3,500
2,000

6,830
7,393



9.


Deferred taxation




2023


£






At beginning of year
(2,444)


Charged to profit or loss
21,439



At end of year
18,995

Page 8

 
ERMGASSEN & CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
 
9.Deferred taxation (continued)

The deferred taxation balance is made up as follows:

2023
2022
£
£


Revaluation losses/ (gains)
18,995
(2,444)

18,995
(2,444)


10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



370,513 (2022 - 370,513) Ordinary Shares shares of £1.00 each
370,513
370,513
370,514 (2021 - 370,514) A Ordinary Shares shares of £1.00 each
370,514
370,514

741,027

741,027



11.


Reserves

Profit & loss account

The distributable reserves of the company are £1,379,575. The undistributable reserves are £(56,984).

 

12.


Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund.

The pension cost charge represents contributions payable by the Company to the funds and amounted to £555 (2022 - £555). No contributions were payable to the funds at the balance sheet date.
 


13.


Controlling party

The company is controlled by Mr S. H. Leissler.

 
Page 9