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Registered number: 03869442










PARKSIDE CAPITAL LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023



 
PARKSIDE CAPITAL LIMITED
REGISTERED NUMBER: 03869442

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note

Fixed assets
  

Investments
 4 
61,965,168
56,132,033

  
61,965,168
56,132,033

Current assets
  

Debtors: amounts falling due within one year
 5 
1,717,467
1,429,633

Cash at bank and in hand
 6 
2,056,867
5,304,893

  
3,774,334
6,734,526

Creditors: amounts falling due within one year
 7 
(264,239)
(245,327)

Net current assets
  
 
 
3,510,095
 
 
6,489,199

Total assets less current liabilities
  
65,475,263
62,621,232

Provisions for liabilities
  

Deferred tax
 8 
(3,265,114)
-

  
 
 
(3,265,114)
 
 
-

Net assets
  
62,210,149
62,621,232


Capital and reserves
  

Called up share capital 
  
8,630,580
8,630,576

Share premium account
  
44,874,992
44,874,992

Capital redemption reserve
  
-
4

Profit and loss account
  
8,704,577
9,115,660

  
62,210,149
62,621,232


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: 




N J Bland
Director

Date: 18 October 2024

The notes on pages 3 to 8 form part of these financial statements.
Page 1

 
PARKSIDE CAPITAL LIMITED
REGISTERED NUMBER: 03869442

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023


Page 2

 
PARKSIDE CAPITAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Parkside Capital Limited is a private company limited by shares, incorporated and registered in England and Wales. The registered office is 2 Communications Road, Greenham Business Park, Newbury, Berkshire, RG19 6AB.

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

Going concern

The annual financial statements have been prepared on the basis of accounting policies applicable to a going concern.
Based on the Company’s current financial position the directors are of the opinion that the Company has the necessary resources to continue as a going concern for the foreseeable future and that the going concern principle is applicable for a period of at least 12 months from signing of the financial statements.

 
2.3

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income 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 balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.5

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.

 
2.6

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.

Page 3

 
PARKSIDE CAPITAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

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.

 
2.8

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is Euros.

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'.

 
2.9

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.

 
2.10

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
PARKSIDE CAPITAL 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 balance sheet 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 balance sheet 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 balance sheet date.


3.


Employees

2023
2022

Wages and salaries
114,923
117,025

Social security costs
14,417
15,466

129,340
132,491


The average monthly number of employees, including directors, during the year was 5 (2022 - 5).

Page 5

 
PARKSIDE CAPITAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Fixed asset investments





Listed investments
Unquoted investments
Investments in subsidiary companies
Total




Cost or valuation


At 1 January 2023
35,656,078
769,231
31,872,733
68,298,042


Additions
3,429,448
-
1,000,000
4,429,448


Disposals
(766,246)
-
-
(766,246)


Revaluations
2,169,933
-
-
2,169,933



At 31 December 2023

40,489,213
769,231
32,872,733
74,131,177



Impairment


At 1 January 2023
-
769,231
11,396,778
12,166,009



At 31 December 2023

-
769,231
11,396,778
12,166,009



Net book value



At 31 December 2023
40,489,213
-
21,475,955
61,965,168



At 31 December 2022
35,656,078
-
20,475,955
56,132,033

Page 6

 
PARKSIDE CAPITAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022


Amounts owed by group undertakings
905,280
677,280

Amounts owed by associated undertakings
753,172
751,629

Other debtors
58,291
-

Prepayments and accrued income
724
724

1,717,467
1,429,633



6.


Cash and cash equivalents

2023
2022

Cash at bank and in hand
2,056,867
5,304,893

2,056,867
5,304,893



7.


Creditors: Amounts falling due within one year

2023
2022

Trade creditors
-
1,415

Corporation tax
215,898
197,581

Other taxation and social security
4,235
4,326

Accruals
44,106
42,005

264,239
245,327


Page 7

 
PARKSIDE CAPITAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Deferred taxation




2023








Charged to profit or loss
(3,265,114)



At end of year
(3,265,114)

The deferred tax balance is made up as follows:

2023
2022


Unrealised gains
(3,265,114)
-

(3,265,114)
-

Comprising:

Liability
(3,265,114)
-

(3,265,114)
-



9.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 21 October 2024 by Fiona Hawkins MSc FCA (Senior statutory auditor) on behalf of James Cowper Kreston Audit.


Page 8