Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30false2true2023-05-01Holding company2true 14246271 2023-05-01 2024-04-30 14246271 2022-07-20 2023-04-30 14246271 2024-04-30 14246271 2023-04-30 14246271 c:Director1 2023-05-01 2024-04-30 14246271 d:CurrentFinancialInstruments 2024-04-30 14246271 d:CurrentFinancialInstruments 2023-04-30 14246271 d:Non-currentFinancialInstruments 2024-04-30 14246271 d:Non-currentFinancialInstruments 2023-04-30 14246271 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 14246271 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 14246271 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 14246271 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 14246271 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-04-30 14246271 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-04-30 14246271 d:ShareCapital 2024-04-30 14246271 d:ShareCapital 2023-04-30 14246271 d:RetainedEarningsAccumulatedLosses 2024-04-30 14246271 d:RetainedEarningsAccumulatedLosses 2023-04-30 14246271 c:FRS102 2023-05-01 2024-04-30 14246271 c:Audited 2023-05-01 2024-04-30 14246271 c:FullAccounts 2023-05-01 2024-04-30 14246271 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 14246271 d:Subsidiary1 2023-05-01 2024-04-30 14246271 d:Subsidiary1 1 2023-05-01 2024-04-30 14246271 c:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 14246271 2 2023-05-01 2024-04-30 14246271 6 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 14246271









GEORGE STREET HOLDCO LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
GEORGE STREET HOLDCO LIMITED
REGISTERED NUMBER: 14246271

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
9,881,454
9,232,769

  
9,881,454
9,232,769

Current assets
  

Debtors: amounts falling due within one year
 5 
99,731
99,731

  
99,731
99,731

Creditors: amounts falling due within one year
 6 
(1,203,089)
(1,098,668)

Net current liabilities
  
 
 
(1,103,358)
 
 
(998,937)

Total assets less current liabilities
  
8,778,096
8,233,832

Creditors: amounts falling due after more than one year
 7 
(8,792,188)
(8,240,156)

  

Net liabilities
  
(14,092)
(6,324)


Capital and reserves
  

Called up share capital 
  
10
10

Profit and loss account
  
(14,102)
(6,334)

  
(14,092)
(6,324)


The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 28 January 2025.




Geva Dagan
Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
GEORGE STREET HOLDCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

George Street Holdco Limited is a private company limited by shares incorporated in the United Kingdom and registered in England & Wales. The address of the registered office is 14 Berkeley Street, Mayfair, London, W1J 8DX and its principal place of business is the same as this address.

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 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 judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

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.

 
2.3

Going concern

The directors have reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and have therefore adopted the going concern basis of accounting in preparing the financial statements.

 
2.4

Interest income

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

 
2.5

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.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 2

 
GEORGE STREET HOLDCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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.

 
2.10

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 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.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Page 3

 
GEORGE STREET HOLDCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Directors
2
2


4.


Fixed asset investments





Investments in subsidiary companies
Loans to subsidiaries
Total

£
£
£



Cost or valuation


At 1 May 2023
1
9,232,768
9,232,769


Additions
-
648,685
648,685



At 30 April 2024
1
9,881,453
9,881,454





Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Class of shares

Holding

80 George Street Limited
Ordinary
100%

The aggregate of the share capital and reserves as at 30 April 2024 and the profit or loss for the year ended on that date for the subsidiary undertaking were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)

80 George Street Limited
(1,042,263)
(521,320)

Page 4

 
GEORGE STREET HOLDCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Debtors

2024
2023
£
£


Other debtors
99,731
99,731

99,731
99,731



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
2,400
-

Amounts owed to group undertakings
356
1

Other creditors
1,198,333
1,096,667

Accruals and deferred income
2,000
2,000

1,203,089
1,098,668



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
8,792,188
8,240,156

8,792,188
8,240,156


Page 5

 
GEORGE STREET HOLDCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£



Amounts falling due 2-5 years

Other loans
8,792,188
8,240,156


8,792,188
8,240,156


8,792,188
8,240,156



9.


Related party transactions

The company has made a loan to its subsidiary company 80 George Street Limited. At 30 April 2024 the outstanding balance was £9,881,453 (2023: £9,232,768).


10.


Auditors' information

The auditors' report on the financial statements for the year ended 30 April 2024 was unqualified.

The audit report was signed on 28 January 2025 by Richard Paul (senior statutory auditor) on behalf of Nyman Libson Paul LLP.

 
Page 6