Caseware UK (AP4) 2023.0.135 2023.0.135 2022-11-01true3falseNo description of principal activity3trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12240739 2022-11-01 2023-10-31 12240739 2021-11-01 2022-10-31 12240739 2023-10-31 12240739 2022-10-31 12240739 c:Director1 2022-11-01 2023-10-31 12240739 d:ComputerEquipment 2022-11-01 2023-10-31 12240739 d:ComputerEquipment 2023-10-31 12240739 d:ComputerEquipment 2022-10-31 12240739 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 12240739 d:CurrentFinancialInstruments 2023-10-31 12240739 d:CurrentFinancialInstruments 2022-10-31 12240739 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 12240739 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 12240739 d:ShareCapital 2023-10-31 12240739 d:ShareCapital 2022-10-31 12240739 d:RetainedEarningsAccumulatedLosses 2023-10-31 12240739 d:RetainedEarningsAccumulatedLosses 2022-10-31 12240739 c:FRS102 2022-11-01 2023-10-31 12240739 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 12240739 c:FullAccounts 2022-11-01 2023-10-31 12240739 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure
Registered number: 12240739













Grace Capital Partners Limited

Financial statements
Information for filing with the registrar

31 October 2023




 
Grace Capital Partners Limited


Balance sheet
At 31 October 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
1,478

  
-
1,478

Current assets
  

Debtors
 5 
544
8,173

Cash at bank and in hand
  
302
21,185

  
846
29,358

Creditors: amounts falling due within one year
 6 
(25,421)
(40,976)

Net current liabilities
  
 
 
(24,575)
 
 
(11,618)

Total assets less current liabilities
  
(24,575)
(10,140)

Provisions for liabilities
  

Deferred tax
  
-
(1,169)

  
 
 
-
 
 
(1,169)

Net liabilities
  
(24,575)
(11,309)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(24,675)
(11,409)

Shareholders' deficit
  
(24,575)
(11,309)


1

 
Grace Capital Partners Limited

    
Balance sheet (continued)
At 31 October 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 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 on 31 October 2024.




Graeme Summers
Director

Company registered number: 12240739
The notes on pages 3 to 6 form part of these financial statements. 

2

 
Grace Capital Partners Limited
 
 

Notes to the financial statements
Year ended 31 October 2023

1.


General information

The company is a private company limited by shares, registered and domiciled in England and Wales. The address of the registered office is 24 Woodlands, Ponteland, Newcastle upon Tyne, NE20 9EU.

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 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.

  
2.2

Going concern

At the balance sheet date the company had excess liabilities over assets. The director, having made due and careful enquiry, is of the opinion that the company, with his continuing support, has adequate working capital to execute its operations over the next 12 months. The director, therefore, has made an informed judgement, at the time of approving the financial statements, that there is reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. As a result the director has continued to adopt the going concern basis of accounting in preparing the annual financial accounts.

 
2.3

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 is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 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.

3

 
Grace Capital Partners Limited
 

 
Notes to the financial statements
Year ended 31 October 2023

2.Accounting policies (continued)

 
2.4

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.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

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.

4

 
Grace Capital Partners Limited
 
 

Notes to the financial statements
Year ended 31 October 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).



4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 November 2022
9,031



At 31 October 2023

9,031



Depreciation


At 1 November 2022
7,553


Charge for the year
1,478



At 31 October 2023

9,031



Net book value



At 31 October 2023
-



At 31 October 2022
1,478


5.


Debtors

2023
2022
£
£


Other debtors
24
8,173

Deferred taxation
520
-

544
8,173


5

 
Grace Capital Partners Limited
 
 

Notes to the financial statements
Year ended 31 October 2023

6.


Creditors: amounts falling due within one year

2023
2022
£
£

Bank loans
-
17,667

Other creditors
20,021
19,709

Accruals and deferred income
5,400
3,600

25,421
40,976


 
6