Caseware UK (AP4) 2024.0.164 2024.0.164 false02024-01-01No description of principal activity0truetruefalse 04990867 2024-01-01 2024-12-31 04990867 2023-01-01 2023-12-31 04990867 2024-12-31 04990867 2023-12-31 04990867 c:Director2 2024-01-01 2024-12-31 04990867 d:CurrentFinancialInstruments 2024-12-31 04990867 d:CurrentFinancialInstruments 2023-12-31 04990867 c:FRS102 2024-01-01 2024-12-31 04990867 c:Audited 2024-01-01 2024-12-31 04990867 c:FullAccounts 2024-01-01 2024-12-31 04990867 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 04990867 c:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 04990867 6 2024-01-01 2024-12-31 04990867 e:USDollar 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 04990867









Advancetex International Holdings Ltd









Financial statements

Information for filing with the registrar

For the Year Ended 31 December 2024

 
Advancetex International Holdings Ltd
Registered number: 04990867

Balance Sheet
As at 31 December 2024

2024
2023
Note
$
$

  

Investments
 4 
-
-

  
-
-

Current assets
  

Debtors: amounts falling due within one year
 5 
1,292,979
1,308,830

Cash at bank and in hand
 6 
111,859
110,537

  
1,404,838
1,419,367

Creditors: amounts falling due within one year
 7 
(123,742)
(120,542)

Net current assets
  
 
 
1,281,096
 
 
1,298,825

Total assets less current liabilities
  
1,281,096
1,298,825

Provisions for liabilities
  

Net assets
  
1,281,096
1,298,825


Capital and reserves
  

Called up share capital 
  
5,855,900
5,855,900

Profit and loss account
  
(4,574,804)
(4,557,075)

  
1,281,096
1,298,825


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: 




................................................
T Moussa
Director

Date: 17 June 2025

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

Page 1

 
Advancetex International Holdings Ltd
 
 
 
Notes to the Financial Statements
For the Year Ended 31 December 2024

1.


General information

The company is a private company limited by shares incorporated in England and Wales. The address of the registered office is Pannone Corporate Llp 378 - 380, Deansgate, Manchester, United Kingdom, M3 4LY. The company's registration number is 04990867.

The principal activity of the company continued to be an intermediate holding company.

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.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

Advancetex International Holdings Limited is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of any part of the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is US Dollars.

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.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 2

 
Advancetex International Holdings Ltd
 
 
 
Notes to the Financial Statements
For the Year Ended 31 December 2024

2.Accounting policies (continued)

 
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

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
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

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an 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 profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in
Page 3

 
Advancetex International Holdings Ltd
 
 
 
Notes to the Financial Statements
For the Year Ended 31 December 2024

2.Accounting policies (continued)


2.8
Financial instruments (continued)

the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Page 4

 
Advancetex International Holdings Ltd
 
 
 
Notes to the Financial Statements
For the Year Ended 31 December 2024

3.


Employees




The Company has no employees other than the directors, who did not receive any remuneration (2023 - $NIL).


4.


Fixed asset investments





Investments in subsidiary companies

$



Cost


At 1 January 2024
4,542,453



At 31 December 2024

4,542,453



Impairment


At 1 January 2024
4,542,453



At 31 December 2024

4,542,453



Net book value



At 31 December 2024
-



At 31 December 2023
-


5.


Debtors

2024
2023
$
$


Amounts owed by group undertakings
1,292,824
1,308,675

Other debtors
155
155

1,292,979
1,308,830


Amounts due from group undertakings are repayable on demand, unsecured and bear no interest.

Page 5

 
Advancetex International Holdings Ltd
 
 
 
Notes to the Financial Statements
For the Year Ended 31 December 2024

6.


Cash

2024
2023
$
$

Cash at bank and in hand
111,859
110,537



7.


Creditors: Amounts falling due within one year

2024
2023
$
$

Other creditors
108,574
108,574

Accruals and deferred income
15,168
11,968

123,742
120,542


Amounts due to group undertakings are repayable on demand, unsecured and bear no interest.


8.


Related party transactions

The company has taken advantage of the exemption under FRS 102 not to provide information on related party transactions with other wholly owned undertakings within the Cha Technologies Group.

9.


Controlling party

The immediate holding company is Cha Technologies Group Limited, a company registered in England and Wales. Cha Technologies Group Limited is the largest group of companies into which the company's results are consolidated where the financial statements are available to the public. Copies of the consolidated financial statements of Cha Technologies Group Limited may be obtained from the Registsrar of Companies at Crown Way, Cardiff, CF14 3UZ. The ultimate parent company is CCM Trust (Cayman) Ltd, a company incorporated in the Cayman Islands.


10.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 17 June 2025 by Chris Stewardson (Senior Statutory Auditor) on behalf of Hurst Accountants Limited.

 
Page 6