REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2022 |
for |
GWM CA CORPORATE LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2022 |
for |
GWM CA CORPORATE LIMITED |
GWM CA CORPORATE LIMITED (REGISTERED NUMBER: 08291924) |
Contents of the Financial Statements |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
GWM CA CORPORATE LIMITED |
Company Information |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
48 Dover Street |
Mayfair, London |
W1S 4FF |
GWM CA CORPORATE LIMITED (REGISTERED NUMBER: 08291924) |
Statement of Financial Position |
31 DECEMBER 2022 |
31.12.22 | 31.12.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
572,767 | 597,886 |
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. |
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 |
GWM CA CORPORATE LIMITED (REGISTERED NUMBER: 08291924) |
Notes to the Financial Statements |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
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. |
GWM CA CORPORATE LIMITED (REGISTERED NUMBER: 08291924) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
3. | ACCOUNTING POLICIES - continued |
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 |
Disposals | ( | ) |
At 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.22 | 31.12.21 |
£ | £ |
Amounts owed by group undertakings |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.22 | 31.12.21 |
£ | £ |
Corporation tax |
Accruals and deferred income |
GWM CA CORPORATE LIMITED (REGISTERED NUMBER: 08291924) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
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. |