Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31false32023-04-01Holding company3truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12494953 2023-04-01 2024-03-31 12494953 2022-04-01 2023-03-31 12494953 2024-03-31 12494953 2023-03-31 12494953 c:Director1 2023-04-01 2024-03-31 12494953 c:Director2 2023-04-01 2024-03-31 12494953 d:CurrentFinancialInstruments 2024-03-31 12494953 d:CurrentFinancialInstruments 2023-03-31 12494953 d:Non-currentFinancialInstruments 2024-03-31 12494953 d:Non-currentFinancialInstruments 2023-03-31 12494953 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 12494953 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 12494953 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 12494953 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 12494953 d:ShareCapital 2024-03-31 12494953 d:ShareCapital 2023-03-31 12494953 d:RetainedEarningsAccumulatedLosses 2024-03-31 12494953 d:RetainedEarningsAccumulatedLosses 2023-03-31 12494953 c:OrdinaryShareClass1 2023-04-01 2024-03-31 12494953 c:OrdinaryShareClass1 2024-03-31 12494953 c:OrdinaryShareClass1 2023-03-31 12494953 c:FRS102 2023-04-01 2024-03-31 12494953 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 12494953 c:FullAccounts 2023-04-01 2024-03-31 12494953 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12494953 e:USDollar 2023-04-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 12494953










BROOK GLEN (FINANCE) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
BROOK GLEN (FINANCE) LIMITED
REGISTERED NUMBER: 12494953

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
$
$

  

Current assets
  

Debtors: amounts falling due within one year
 4 
4,678
128

Cash at bank and in hand
  
6,691
8,791

  
11,369
8,919

Creditors: amounts falling due within one year
 5 
(4,541)
(39,286)

Net current assets/(liabilities)
  
 
 
6,828
 
 
(30,367)

Total assets less current liabilities
  
6,828
(30,367)

Creditors: amounts falling due after more than one year
 6 
(53,080)
(1,578)

  

Net liabilities
  
(46,252)
(31,945)


Capital and reserves
  

Called up share capital 
  
128
128

Profit and loss account
  
(46,380)
(32,073)

  
(46,252)
(31,945)


Page 1

 
BROOK GLEN (FINANCE) LIMITED
REGISTERED NUMBER: 12494953
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

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 profit and loss account or the directors' report 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: 




P E R Rothwell
C Falle
Director
Director


Date: 12 January 2025
Date:12 January 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
BROOK GLEN (FINANCE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Glen Brook (Finance) Limited (12494953) is a private company limited by shares and incorporated in
England and Wales. The registered office is 14th Floor, 33 Cavendish Square, London, W1G 0PW.

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 Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for a period of at least twelve months from the date when the financial statements were authorised for issue. The Directors therefore adopt the going concern basis in preparing the financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is USD.

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.

Page 3

 
BROOK GLEN (FINANCE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied or services rendered, net of returns, discounts and rebates allowed by the Company.
The Company bases its estimate of returns on historical results, taking into consideration the type of transaction and the specifics of each arrangement.
When the consideration receivable in cash or cash equivalents is deferred, and the arrangement constitutes a financing transaction, the fair value of the consideration is measured as the present value of all future receipts using the imputed rate of interest.
The Company recognises revenue when (a) the significant risks and rewards of ownership have been transferred to the Company; (b) the Company retains no continuing involvement or control over the goods or services; (c) the amount of revenue can be measured reliably and (d) it is probable that economic benefit will flow to the Company.

 
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

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.8

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, deposits held at call with banks and investment managers of three months or less where they are repayable on demand.
Bank overdrafts, when applicable, are shown within current liabilities.

 
2.9

Creditors

Short-term creditors are measured at the transaction price.

 
2.10

Financial instruments

The Company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.
i. Financial assets
Basic financial assets, including trade and other receivables, cash and bank balances and investments in commercial paper, are initially recognised at the transaction price, unless the transaction constitutes a financing transaction, where the transaction is measured at the present
Page 4

 
BROOK GLEN (FINANCE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.10
Financial instruments (continued)

value of the future receipts discounted using the effective interest rate method to establish amortised cost.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If the 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 Comprehensive Income.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in the Statement of Comprehensive Income.
For any basic financial assets which are interest free and repayable on demand, the effective interest rate is equal to the contractual rate which is zero. Therefore subsequent discounting using the effective interest rate method is not required.
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price.
Such assets are subsequently carried at fair value and the changes in fair value are recognised in the Statement of Comprehensive Income, except that equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.
Financial assets are de-recognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
ii. Financial liabilities
Basic financial liabilities, including trade payables and other payables, and amounts payable to related parties are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted using the effective interest rate method to establish amortised cost.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if payment is due within one year or less. Where payments are greater than one year they are presented as creditors amounts falling due after more than one year. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
For any basic financial liabilities which are interest free and repayable on demand, the effective interest rate is equal to the contractual rate which is zero. Therefore subsequent discounting using the effective interest rate method is not required.
Other financial liabilities are initially measured at fair value, which is normally the transaction price. Such liabilities are subsequently carried at fair value and the changes in fair value are recognised in
Page 5

 
BROOK GLEN (FINANCE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.10
Financial instruments (continued)

the Statement of Comprehensive Income.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.



3.


Employees




The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


4.


Debtors

2024
2023
$
$


Other debtors
128
128

Prepayments and accrued income
4,550
-

4,678
128



5.


Creditors: Amounts falling due within one year

2024
2023
$
$

Other loans
-
32,172

Accruals and deferred income
4,541
7,114

4,541
39,286


Page 6

 
BROOK GLEN (FINANCE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Creditors: Amounts falling due after more than one year

2024
2023
$
$

Shareholder's loans payable:
Murchison Falls (Jersey) Limited (1)
2,895
-

Other loans payable:
Sedata Trading Inc. (2)
32,172
-

The Warwick Security Settlement
- £ loan (2024: £14,260, 2023: £Nil) (2)
18,013
-

Murchison Holdings Limited (3)
-
1,578

53,080
1,578


(1) The loan is unsecured, bears interest at 1.5% per annum and is repayable on or before 30 November 2025. Any interest unpaid by the 31 December in any year is capitalised and added to the principal amount outstanding and shall thereafter accrue interest on the capitalised amount.
(2)  The loans are unsecured, interest free and repayable on demand. However the loans form part of the long term funding of the Company and are not currently expected to be repaid within the next twelve months.
(3) The loan was unsecured bore interest at 1.5% per annum. The loan was assigned from Murchison Holdings Limited to Murchison Falls (Jersey) Limited during the year.


7.


Share capital

2024
2023
$
$
Authorised



10,000 (2023 - 10,000) Ordinary shares of £1.00 each
10,000
10,000

Allotted, called up and fully paid



128 (2023 - 128) Ordinary shares of £1.00 each
128
128



8.


Related party transactions

During the year, the Company paid Fairway Trust Limited expenses relating to administration fees and other services. At the year end, US$887 (2023: US$Nil) was outstanding and included within payables.
The Company is exempt from disclosing any other related party transactions as they are with other companies that are wholly owned by the same ownership.

 
Page 7