Caseware UK (AP4) 2023.0.135 2023.0.135 2023-05-312023-05-3122022-06-01false2No description of principal activitytruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 05505357 2022-06-01 2023-05-31 05505357 2021-06-01 2022-05-31 05505357 2023-05-31 05505357 2022-05-31 05505357 c:Director1 2022-06-01 2023-05-31 05505357 d:CurrentFinancialInstruments 2023-05-31 05505357 d:CurrentFinancialInstruments 2022-05-31 05505357 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 05505357 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 05505357 d:ShareCapital 2023-05-31 05505357 d:ShareCapital 2022-05-31 05505357 d:RetainedEarningsAccumulatedLosses 2022-06-01 2023-05-31 05505357 d:RetainedEarningsAccumulatedLosses 2023-05-31 05505357 d:RetainedEarningsAccumulatedLosses 2022-05-31 05505357 c:OrdinaryShareClass1 2022-06-01 2023-05-31 05505357 c:OrdinaryShareClass1 2023-05-31 05505357 c:OrdinaryShareClass1 2022-05-31 05505357 c:FRS102 2022-06-01 2023-05-31 05505357 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 05505357 c:FullAccounts 2022-06-01 2023-05-31 05505357 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 05505357 2 2022-06-01 2023-05-31 05505357 6 2022-06-01 2023-05-31 05505357 e:PoundSterling 2022-06-01 2023-05-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 05505357










GH FINANCE LIMITED

UNAUDITED
FINANCIAL STATEMENTS

FOR THE YEAR ENDED
31 MAY 2023
 






 



 







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GH FINANCE LIMITED
REGISTERED NUMBER: 05505357

BALANCE SHEET
AS AT 31 MAY 2023

2023
2022
Note
                  £
£

Fixed assets
  

Investments
 5 
4
4

Current assets
  

Bank and cash balances
  
3,933
11,284

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(5,291,041)
(5,303,041)

Net current liabilities
  
 
 
(5,287,108)
 
 
(5,291,757)

Total assets less current liabilities
  
(5,287,104)
(5,291,753)

  

Net liabilities
  
(5,287,104)
(5,291,753)


Capital and reserves
  

Called up share capital 
 7 
1,000
1,000

Profit and loss account
 8 
(5,288,104)
(5,292,753)

  
(5,287,104)
(5,291,753)


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 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: 




Mr N S Parker
Director

Date: 18 October 2024

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

Page 1

 
GH FINANCE LIMITED
 

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

1.


General information

GH Finance Limited is a private company, limited by shares, and incorporated in England and Wales, registered number 05505357. The registered office is 4 Greengate, Cardale Park, Harrogate HG3 1GY.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

The financial statements are presented in sterling which is the functional currency of the Company and rounded to the nearest £.

  
2.2

Compliance with accounting standards

These financial statements have been prepared using FRS102 The Financial Reporting Standard applicable in the UK and the Republic of Ireland, including the disclosure and presentation requirements of Section 1A applicable to small companies. There were no material departures from this standard. 

 
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

Going concern

The Company is in a net liability position. This is primarily driven by amounts owed to subsidiary undertakings. In the long term profits generated by the Company's subsidiaries will be distributed via dividends to GH Finance Limited to clear its liabilities. As such, no cashflows is required to repay amounts owed to group undertakings.
The Directors are satisfied that the financial resources of the group as a whole will be sufficient to meet liabilities in the long term. However, there will be some short term cash shortfalls, which will be financed by the Company's shareholders, to enable the group to meet its liabilities in the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis.

 
2.5

Interest income

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

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 2

 
GH FINANCE LIMITED
 

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

2.Accounting policies (continued)

 
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

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.

 
2.9

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. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. 
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

In preparing these financial statements, management is required to make judgements, estimates and assumptions which affect expected reported income, expenses, assets and liabilities and disclosure of contingent assets and liabilities. Use of available information and application of judgement are inherent in the formation of estimates, together with past experience and expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates.
Management do not consider the Company to have any key sources of estimation uncertainty nor any significant judgements or assumptions in preparing these financial statements.


4.


Employees




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

Page 3

 
GH FINANCE LIMITED
 

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

5.


Fixed asset investments





Investments in subsidiary companies

                  £



Cost or valuation


At 1 June 2022
4



At 31 May 2023
4





6.


Creditors: Amounts falling due within one year

2023
2022
                 £
£

Amounts owed to group undertakings
5,220,291
5,232,291

Other creditors
66,250
66,250

Accruals and deferred income
4,500
4,500

5,291,041
5,303,041


Amounts owed to group undertakings are interest free and repayable on demand.


7.


Share capital

2023
2022
                 £
£
Allotted, called up and fully paid



1,000 (2022 - 1,000) ordinary shares of £1.00 each
1,000
1,000



8.


Reserves

Profit and loss account

The profit and loss account represents cumulative losses net of all adjustments.


9.


Related party transactions

The Company is exempt under the terms of Financial Reporting Standard 102 (FRS 102) paragraph 33.1A from disclosing related party transactions with other group companies.


10.


Controlling party

The ultimate controlling party is Mr N Parker by virtue of his 100% shareholding of the Company.


Page 4