Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false2023-01-01Holding company11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11421564 2023-01-01 2023-12-31 11421564 2022-01-01 2022-12-31 11421564 2023-12-31 11421564 2022-12-31 11421564 c:Director1 2023-01-01 2023-12-31 11421564 d:CurrentFinancialInstruments 2023-12-31 11421564 d:CurrentFinancialInstruments 2022-12-31 11421564 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11421564 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11421564 d:ShareCapital 2023-12-31 11421564 d:ShareCapital 2022-12-31 11421564 d:SharePremium 2023-12-31 11421564 d:SharePremium 2022-12-31 11421564 d:RetainedEarningsAccumulatedLosses 2023-12-31 11421564 d:RetainedEarningsAccumulatedLosses 2022-12-31 11421564 c:OrdinaryShareClass1 2023-01-01 2023-12-31 11421564 c:OrdinaryShareClass1 2023-12-31 11421564 c:OrdinaryShareClass1 2022-12-31 11421564 c:FRS102 2023-01-01 2023-12-31 11421564 c:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 11421564 c:FullAccounts 2023-01-01 2023-12-31 11421564 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11421564 2 2023-01-01 2023-12-31 11421564 6 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11421564









YH PARTICIPATIONS LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
YH PARTICIPATIONS LTD
 
 
  
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF YH PARTICIPATIONS LTD
FOR THE YEAR ENDED 31 DECEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of YH Participations Ltd for the year ended 31 December 2023 which comprise  the Statement of Financial Position and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of YH Participations Ltd in accordance with the terms of our engagement letter dated 2 October 2024Our work has been undertaken solely to prepare for your approval the financial statements of YH Participations Ltd and state those matters that we have agreed to state to the director of YH Participations Ltd in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than YH Participations Ltd and its director for our work or for this report. 

It is your duty to ensure that YH Participations Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of YH Participations Ltd. You consider that YH Participations Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of YH Participations Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  





Berg Kaprow Lewis LLP
Accountants
London
15 October 2024
Page 1

 
YH PARTICIPATIONS LTD
REGISTERED NUMBER: 11421564

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
$
$

Fixed assets
  

Investments
 4 
2,220,817
1,797,666

  
2,220,817
1,797,666

Current assets
  

Debtors: amounts falling due within one year
 5 
78,204
1,325

Cash at bank and in hand
  
2,641,480
2,707,538

  
2,719,684
2,708,863

Creditors: amounts falling due within one year
 6 
(749,704)
(431,282)

Net current assets
  
 
 
1,969,980
 
 
2,277,581

Total assets less current liabilities
  
4,190,797
4,075,247

  

Net assets
  
4,190,797
4,075,247


Capital and reserves
  

Called up share capital 
 7 
2,650
2,650

Share premium account
  
1,048,675
1,048,675

Profit and loss account
  
3,139,472
3,023,922

  
4,190,797
4,075,247


Page 2

 
YH PARTICIPATIONS LTD
REGISTERED NUMBER: 11421564
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

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.

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: 






Y B A Hassan
Director

Date: 14 October 2024

The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
YH PARTICIPATIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The principal activity of the company is that of a holding company.
The company is a private company limited by shares and is incorporated in England and Wales.
The address of its Registered Office is 35 Ballards Lane, London, N3 1XW.

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' ("FRS 102") 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

Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Therefore, the director continues to adopt the going concern basis of accounting in preparing the financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is US Dollars.

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.

 
2.4

Interest income

Interest income is recognised in the Statement of Income and Retained Earnings using the effective interest method.

Page 4

 
YH PARTICIPATIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in the Statement of Income and Retained Earnings 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.

 
2.6

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 the Statement of Income and Retained Earnings for the period.

 
2.7

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.

 
2.8

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 non-puttable ordinary shares.
(i) Financial assets
Basic financial assets, including trade and other receivables, are initially recognised at transaction price, unless the arrangement consitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.
(ii) Financial liabilities
Basic financial liabilities, including trade and other payables a are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is
Page 5

 
YH PARTICIPATIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.8
Financial instruments (continued)

measured at the present value of the future receipts discounted at a market rate of interest.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Basic debt instruments, including basic loans, are required to be measured at amortised cost using the effective interest method. For debt instruments provided at a below-market interest rate, consideration has been given to the appropriate rate to be used in the discounting of these debt instruments. An interest rate that is considered to be appropriate, taking into account third party rates, has been adopted in the discounting of the interest free loans.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Fixed asset investments





Listed investments
Unlisted investments
Total

$
$
$



Cost or valuation


At 1 January 2023
524,558
1,273,108
1,797,666


Additions
419,287
-
419,287


Disposals
(32,142)
-
(32,142)


Revaluations
36,006
-
36,006



At 31 December 2023
947,709
1,273,108
2,220,817




Page 6

 
YH PARTICIPATIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
$
$


Called up share capital not paid
1,325
1,325

Prepayments and accrued income
76,879
-

78,204
1,325



6.


Creditors: Amounts falling due within one year

2023
2022
$
$

Corporation tax
16,675
-

Other creditors
727,245
428,782

Accruals and deferred income
5,784
2,500

749,704
431,282



7.


Share capital

2023
2022
$
$
Allotted, called up and fully paid



2,000 (2022 - 2,000) Ordinary shares of £1 each
2,650
2,650



8.


Related party transactions

Included within other creditors is a loan of $727,245 from an entity in which the Company is a shareholder. The loan is interest free and repayable upon demand. 

 
Page 7