GWM CA Corporate Limited - Accounts to registrar (filleted) - small 23.2.5

GWM CA CORPORATE LIMITED - Company Information

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REGISTERED NUMBER: 08291924 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2022

for

GWM CA CORPORATE LIMITED

Page

Company Information

Statement of Financial Position

Notes to the Financial Statements

DIRECTORS:

M Cidonio

Ms A Giordano

REGISTERED OFFICE:

Nations House 9th Floor

103 Wigmore Street

London

W1U 1QS

REGISTERED NUMBER:

08291924 (England and Wales)

ACCOUNTANTS:

A.C.T. London Limited

48 Dover Street

Mayfair, London

W1S 4FF

FIXED ASSETS

Investments

140,372

170,372

CURRENT ASSETS

Debtors

434,977

435,918

Cash at bank

2,343

2,510

437,320

438,428

CREDITORS

Amounts falling due within one year

4,925

10,914

NET CURRENT ASSETS

432,395

427,514

TOTAL ASSETS LESS CURRENT LIABILITIES

572,767

597,886

CAPITAL AND RESERVES

Called up share capital

180,000

Retained earnings

392,767

417,886

SHAREHOLDERS' FUNDS

572,767

597,886

572,767

597,886

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2023 and were signed on its behalf by:

M Cidonio - Director

1.	STATUTORY INFORMATION

The company is a private company limited by share, registered in England and Wales. The address of the registered office and place of business address is Nations House, 9th Floor,103 Wigmore Street, London W1U 1QS, UK.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with section 1A of FRS 102 , 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on the historical cost basis.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Revenue is measured at the fair value of the consideration received or receivable.

Turnover represents investment income and is recognised when the right to receive the payment is established to the extent that the economic benefits will flow to the Company, and that the investment income can be reliably measured.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value often future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred Tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

COST

At 1 January 2022

170,372

Disposals

(30,000

)

At 31 December 2022

140,372

NET BOOK VALUE

At 31 December 2022

140,372

At 31 December 2021

170,372

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

Amounts owed by group undertakings

434,977

435,918

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

Corporation tax

125

6,464

Accruals and deferred income

4,800

4,450

4,925

10,914

8.	RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption from providing certain related party transaction disclosures as mentioned in the accounting policy.

During the year, the company entered into transactions with its subsidiary, GWM Capital Advisory LLP and balances outstanding balances as at the year-end are as follows:

2022

2021

Investment Income:

Profit share attributable from the LLP

(20,027)

15,386

Amounts owed from Group undertakings ( Note 5):

Allocated Profit share from the LLP

434,977

435,918

9.	PARENT UNDERTAKING AND CONTROLLING PARTY

The immediate parent of the company is GWM GP Holding (Luxembourg) S.A, a company registered in 47, Grand Rue, L-1661, Luxembourg.

The ultimate parent is GWM Group Holding S.A, a company registered in Luxembourg.

The controlling party is considered to be GWM Group Holding (Luxembourg) S.A.