Caseware UK (AP4) 2021.0.152 2021.0.152 2021-11-302021-11-302No description of principal activitytrue22020-12-01falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08311492 2020-12-01 2021-11-30 08311492 2019-12-01 2020-11-30 08311492 2021-11-30 08311492 2020-11-30 08311492 c:Director1 2020-12-01 2021-11-30 08311492 c:Director2 2020-12-01 2021-11-30 08311492 d:ComputerEquipment 2020-12-01 2021-11-30 08311492 d:ComputerEquipment 2021-11-30 08311492 d:ComputerEquipment 2020-11-30 08311492 d:FreeholdInvestmentProperty 2021-11-30 08311492 d:FreeholdInvestmentProperty 2020-11-30 08311492 d:FreeholdInvestmentProperty 3 2020-12-01 2021-11-30 08311492 d:CurrentFinancialInstruments 2021-11-30 08311492 d:CurrentFinancialInstruments 2020-11-30 08311492 d:CurrentFinancialInstruments d:WithinOneYear 2021-11-30 08311492 d:CurrentFinancialInstruments d:WithinOneYear 2020-11-30 08311492 d:ShareCapital 2021-11-30 08311492 d:ShareCapital 2020-11-30 08311492 d:RevaluationReserve 2021-11-30 08311492 d:RevaluationReserve 2020-11-30 08311492 d:RetainedEarningsAccumulatedLosses 2021-11-30 08311492 d:RetainedEarningsAccumulatedLosses 2020-11-30 08311492 c:OrdinaryShareClass1 2020-12-01 2021-11-30 08311492 c:OrdinaryShareClass1 2021-11-30 08311492 c:OrdinaryShareClass1 2020-11-30 08311492 c:FRS102 2020-12-01 2021-11-30 08311492 c:AuditExempt-NoAccountantsReport 2020-12-01 2021-11-30 08311492 c:FullAccounts 2020-12-01 2021-11-30 08311492 c:PrivateLimitedCompanyLtd 2020-12-01 2021-11-30 08311492 d:OtherDeferredTax 2021-11-30 08311492 d:OtherDeferredTax 2020-11-30 08311492 5 2020-12-01 2021-11-30 08311492 6 2020-12-01 2021-11-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08311492









THE LAUNDRY BUILDING (PROPERTY) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2021

 
THE LAUNDRY BUILDING (PROPERTY) LIMITED
REGISTERED NUMBER: 08311492

STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2021

2021
2020
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
883

Investments
 5 
-
1,000

Investment property
  
-
13,350,000

Current assets
  

Debtors: amounts falling due within one year
 7 
5,529
2,315,072

Bank and cash balances
  
1,675,829
7,162

Creditors: amounts falling due within one year
 8 
(1,449,033)
(4,774,223)

Net current assets/(liabilities)
  
 
 
232,325
 
 
(2,451,989)

Provisions for liabilities
  

Deferred tax
 9 
-
(1,711,700)

Net assets
  
 
 
232,325
 
 
9,188,194


Capital and reserves
  

Called up share capital 
 10 
1,000
1,000

Revaluation reserve
  
-
7,861,357

Profit and loss account
  
231,325
1,325,837

  
232,325
9,188,194


Page 1

 
THE LAUNDRY BUILDING (PROPERTY) LIMITED
REGISTERED NUMBER: 08311492
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 NOVEMBER 2021

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 comprehensive income 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: 




R Nayak
M C Turner
Director
Director


Date: 16 August 2022
Date:16 August 2022

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
THE LAUNDRY BUILDING (PROPERTY) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

1.


General information

The principal activity of The Laundry Building (Property) Limited is that of property investment.
The company is a private company limited by shares and is incorporated in England and Wales.
The registered office is 8 Tytherton Road, London, England, N19 4QE

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 
2.2

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Computer equipment
-
25%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.3

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

Page 3

 
THE LAUNDRY BUILDING (PROPERTY) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

2.Accounting policies (continued)

 
2.4

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.5

Investment property

Investment property is carried at fair value determined annually by external valuers or directors and derived from the current market rents and investment property yields for comparable properties and adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.7

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. 

Page 4

 
THE LAUNDRY BUILDING (PROPERTY) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 5

 
THE LAUNDRY BUILDING (PROPERTY) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

2.Accounting policies (continued)

 
2.9

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like other debtors and creditors, loans from banks and loans to and from related parties.
(i) Financial assets
Basic financial assets, including other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.
Such assets are subsequently carried at amortised cost using the effective interest method.
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 the Statement of Comprehensive Income.
Financial assets are derecognised 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 other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual
obligation is discharged, cancelled or expires.
(iii) Offsetting
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Page 6

 
THE LAUNDRY BUILDING (PROPERTY) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

2.Accounting policies (continued)

 
2.10

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2020 - 2).


4.


Tangible fixed assets





Computer equipment

£





At 1 December 2020
2,092


Disposals
(2,092)



At 30 November 2021

-





At 1 December 2020
1,209


Disposals
(1,209)



At 30 November 2021

-



Net book value



At 30 November 2021
-



At 30 November 2020
883

Page 7

 
THE LAUNDRY BUILDING (PROPERTY) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

5.


Fixed asset investments





Investments in subsidiary companies

£





At 1 December 2020
1,000


Amounts written off
(1,000)



At 30 November 2021
-





6.


Investment property


Freehold investment property

£





At 1 December 2020
13,350,000


Transfers between classes
(13,350,000)



At 30 November 2021
-







7.


Debtors

2021
2020
£
£


Amounts owed by group undertakings
-
2,300,000

Other debtors
5,529
2,200

Prepayments and accrued income
-
12,872

5,529
2,315,072


Page 8

 
THE LAUNDRY BUILDING (PROPERTY) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

8.


Creditors: Amounts falling due within one year

2021
2020
£
£

Bank loans
-
4,622,946

Other taxation
1,449,033
150,277

Accruals and deferred income
-
1,000

1,449,033
4,774,223


Page 9

 
THE LAUNDRY BUILDING (PROPERTY) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

9.


Deferred taxation




2021


£






At beginning of year
(1,711,700)


Charged to profit or loss
1,711,700



At end of year
-

The deferred taxation balance is made up as follows:

2021
2020
£
£


Fair value movements
-
(1,711,700)


10.


Share capital

2021
2020
£
£
Authorised, allotted, called up and fully paid



1,000 (2020 - 1,000) Ordinary shares of £1.00 each
1,000
1,000


 
Page 10