Caseware UK (AP4) 2023.0.135 2023.0.135 2024-12-312024-12-31false002024-01-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.financial investmentfalsetruefalse 14575638 2024-01-01 2024-12-31 14575638 2023-01-01 2023-12-31 14575638 2024-12-31 14575638 2023-12-31 14575638 c:Director1 2024-01-01 2024-12-31 14575638 d:CurrentFinancialInstruments 2024-12-31 14575638 d:CurrentFinancialInstruments 2023-12-31 14575638 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 14575638 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 14575638 d:ShareCapital 2024-12-31 14575638 d:ShareCapital 2023-12-31 14575638 d:RetainedEarningsAccumulatedLosses 2024-12-31 14575638 d:RetainedEarningsAccumulatedLosses 2023-12-31 14575638 c:FRS102 2024-01-01 2024-12-31 14575638 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 14575638 c:FullAccounts 2024-01-01 2024-12-31 14575638 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 14575638 d:Subsidiary1 2024-01-01 2024-12-31 14575638 d:Subsidiary1 1 2024-01-01 2024-12-31 14575638 2 2024-01-01 2024-12-31 14575638 6 2024-01-01 2024-12-31 14575638 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 14575638









ANNVEST LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
ANNVEST LIMITED
REGISTERED NUMBER: 14575638

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
17,013,475
20,587,972

Current assets
  

Cash at bank and in hand
 5 
109,437
-

  
109,437
-

Creditors: amounts falling due within one year
 6 
(37,645,293)
(19,757,857)

Net current liabilities
  
 
 
(37,535,856)
 
 
(19,757,857)

Total assets less current liabilities
  
(20,522,381)
830,115

  

Net (liabilities)/assets
  
(20,522,381)
830,115


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(20,522,481)
830,015

  
(20,522,381)
830,115


Page 1

 
ANNVEST LIMITED
REGISTERED NUMBER: 14575638
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 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 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: 




................................................
Nicholas James Fallows
Director

Date: 14 July 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
ANNVEST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Annvest Limited (the 'Company') is a private company, limited by shares, domiciled and incorporated in England and Wales (registered number: 14575638). The registered office address is 26 St James’s Square, London SW1Y 4JH. The principal activity of the Company is to to preserve and grow the assets under management on behalf of the shareholders.
The Company's functional and presentational currency is GBP.

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

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

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.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.3

Interest income

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

Page 3

 
ANNVEST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

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.

 
2.5

Taxation

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.


 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.7

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
2.8

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.

 
2.9

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.


3.


Employees

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

Page 4

 
ANNVEST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Fixed asset investments





Investments in subsidiary companies
Investments in associates
Unlisted investments
Total

£
£
£
£



Cost or valuation


At 1 January 2024
1
-
20,587,971
20,587,972


Additions
16,773,461
77
237,357
17,010,895


Foreign exchange movement
-
-
334,783
334,783


Revaluations
-
-
(24,207,714)
(24,207,714)


Interest accrued on CLNs
-
-
3,287,539
3,287,539



At 31 December 2024
16,773,462
77
239,936
17,013,475





Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Registered office

Holding

Crosbyview Holdings LLLP
1521 Concord Pike Suite 201, Wilmington, United States, 19803
100%


5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
109,437
-


Page 5

 
ANNVEST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
-
1,993

Amounts owed to group undertakings
37,640,493
19,644,950

Corporation tax
-
110,914

Accruals and deferred income
4,800
-

37,645,293
19,757,857


The Company has an interest free loan of £37,640,416 (2023: £19,644,9491) which has been provided by its immediate parent entity Annacha Limited. The loan is interest free and repayable on demand. 


7.


Controlling party

The Company’s immediate and ultimate parent is Annacha Limited, a company domiciled and registered in Guernsey.
The directors do not consider there to be an ultimate controlling party.

Page 6