Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31The principal activity of the Company is that of a holding company.falsetrue2023-01-01true00 12637860 2023-01-01 2023-12-31 12637860 2021-07-01 2022-12-31 12637860 2023-12-31 12637860 2022-12-31 12637860 c:Director1 2023-01-01 2023-12-31 12637860 d:CurrentFinancialInstruments 2023-12-31 12637860 d:CurrentFinancialInstruments 2022-12-31 12637860 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 12637860 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 12637860 d:ShareCapital 2023-12-31 12637860 d:ShareCapital 2022-12-31 12637860 d:RetainedEarningsAccumulatedLosses 2023-12-31 12637860 d:RetainedEarningsAccumulatedLosses 2022-12-31 12637860 c:OrdinaryShareClass1 2023-01-01 2023-12-31 12637860 c:OrdinaryShareClass1 2023-12-31 12637860 c:OrdinaryShareClass1 2022-12-31 12637860 c:FRS102 2023-01-01 2023-12-31 12637860 c:Audited 2023-01-01 2023-12-31 12637860 c:FullAccounts 2023-01-01 2023-12-31 12637860 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12637860 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 12637860 6 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12637860










PACE TELECOM (HOLDINGS) LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2023

 
PACE TELECOM (HOLDINGS) LIMITED
REGISTERED NUMBER: 12637860

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
3,350,000
3,700,000

  
3,350,000
3,700,000

Current assets
  

Cash at bank and in hand
 5 
22
72

  
22
72

Creditors: amounts falling due within one year
 6 
(230)
(200)

Net current liabilities
  
 
 
(208)
 
 
(128)

Total assets less current liabilities
  
3,349,792
3,699,872

  

Net assets
  
3,349,792
3,699,872


Capital and reserves
  

Called up share capital 
 7 
7,000,097
7,000,097

Profit and loss account
  
(3,650,305)
(3,300,225)

  
3,349,792
3,699,872


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: 




Ian Rooker on behalf of Enreach Holding B.V
Director

Date: 3 October 2024

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
PACE TELECOM (HOLDINGS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

Pace Telecom (Holdings) Limited (company number 12637860) is a private company, limited by shares, incorporated in England and Wales and domiciled in the United Kingdom. Its registered office and principal place of business is Communications House, Hadley Park, Telford, England, TF1 6QJ. 

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 any part of the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.

 
2.3

Going concern

The Company has net current liabilities of £208 (2022: £128). Included within this balance is amounts due to group companies totalling £230 (2022: £200). If this amount is excluded, the Company has net current assets of £22 (2022: £72).
After making enquiries, the Directors have a reasonable expectation that the Company has adequate resources to continue in operation existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.5

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.

 
2.6

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 2

 
PACE TELECOM (HOLDINGS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
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.


3.


Employees

The average monthly number of employees, including directors, during the period was 0 (2022 - 0).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
3,700,000



At 31 December 2023

3,700,000



Impairment


Charge for the period
350,000



At 31 December 2023

350,000



Net book value



At 31 December 2023
3,350,000



At 31 December 2022
3,700,000

Page 3

 
PACE TELECOM (HOLDINGS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
22
72

22
72



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
230
200

230
200



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



7,000,097 (2022 - 7,000,097) Ordinary shares of £1.00 each
7,000,097
7,000,097



8.


Related party transactions

The Company has taken advantage of the exemption under FRS102 not to disclose transactions with wholly owned group companies.


9.


Controlling party

The ultimate parent undertaking is Waterland Private Equity Investments B.V., a company incorporated in the Netherlands, which does not have any single controlling party. The registered office of the ultimate parent is Brediusweg 16, 1401 AG Bussum, The Netherlands.


10.


Auditors' information

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

The audit report was signed on 4 October 2024 by John Fletcher BA (Hons) FCA (Senior statutory auditor) on behalf of WR Partners.

 
Page 4