Caseware UK (AP4) 2021.0.152 2021.0.152 2022-01-312022-01-312021-02-01falseNo description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05326972 2021-02-01 2022-01-31 05326972 2020-02-01 2021-01-31 05326972 2022-01-31 05326972 2021-01-31 05326972 c:Director1 2021-02-01 2022-01-31 05326972 d:CurrentFinancialInstruments 2022-01-31 05326972 d:CurrentFinancialInstruments 2021-01-31 05326972 d:Non-currentFinancialInstruments 2022-01-31 05326972 d:Non-currentFinancialInstruments 2021-01-31 05326972 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 05326972 d:CurrentFinancialInstruments d:WithinOneYear 2021-01-31 05326972 d:Non-currentFinancialInstruments d:AfterOneYear 2022-01-31 05326972 d:Non-currentFinancialInstruments d:AfterOneYear 2021-01-31 05326972 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-01-31 05326972 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-01-31 05326972 d:ShareCapital 2022-01-31 05326972 d:ShareCapital 2021-01-31 05326972 d:RevaluationReserve 2022-01-31 05326972 d:RevaluationReserve 2021-01-31 05326972 d:RetainedEarningsAccumulatedLosses 2022-01-31 05326972 d:RetainedEarningsAccumulatedLosses 2021-01-31 05326972 c:OrdinaryShareClass1 2021-02-01 2022-01-31 05326972 c:OrdinaryShareClass1 2022-01-31 05326972 c:OrdinaryShareClass1 2021-01-31 05326972 c:OrdinaryShareClass2 2021-02-01 2022-01-31 05326972 c:OrdinaryShareClass2 2022-01-31 05326972 c:OrdinaryShareClass2 2021-01-31 05326972 c:FRS102 2021-02-01 2022-01-31 05326972 c:AuditExempt-NoAccountantsReport 2021-02-01 2022-01-31 05326972 c:FullAccounts 2021-02-01 2022-01-31 05326972 c:PrivateLimitedCompanyLtd 2021-02-01 2022-01-31 05326972 d:AcceleratedTaxDepreciationDeferredTax 2022-01-31 05326972 d:AcceleratedTaxDepreciationDeferredTax 2021-01-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 05326972










CHAD 38 LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2022

 
CHAD 38 LIMITED
REGISTERED NUMBER: 05326972

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2022

2022
2021
Note
£
£

Fixed assets
  

Investments
 4 
1,200,000
1,200,000

  
1,200,000
1,200,000

Current assets
  

Debtors: amounts falling due within one year
 5 
2,000
2,000

Cash at bank and in hand
 6 
3,014
304,710

  
5,014
306,710

Creditors: amounts falling due within one year
 7 
(750,491)
(558,925)

Net current liabilities
  
 
 
(745,477)
 
 
(252,215)

Total assets less current liabilities
  
454,523
947,785

Creditors: amounts falling due after more than one year
 8 
-
(500,000)

Provisions for liabilities
  

Deferred tax
 10 
(68,685)
(68,685)

  
 
 
(68,685)
 
 
(68,685)

Net assets
  
385,838
379,100


Capital and reserves
  

Called up share capital 
 11 
2
2

Revaluation reserve
  
361,500
361,500

Profit and loss account
  
24,336
17,598

  
385,838
379,100


Page 1

 
CHAD 38 LIMITED
REGISTERED NUMBER: 05326972
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2022

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 on 15 August 2022.




Mr A L Austin-Crowe
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
CHAD 38 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022

1.


General information

Chad 38 Limited is a company domiciled in England and Wales, registration number is 05326972.  The registered office is Meadow House, Lower Kingsbury, Milborne Port, Sherborne DT9 5ED.

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.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

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.

Page 3

 
CHAD 38 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022

2.Accounting policies (continued)

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

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.

 
2.6

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, 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 profit or loss.

 
2.7

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.

 
2.8

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.

Page 4

 
CHAD 38 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022

2.Accounting policies (continued)

 
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.

 
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

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.12

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 (2021 - 2).

Page 5

 
CHAD 38 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022

4.


Fixed asset investments





Investment properties

£



Cost or valuation


At 1 February 2021
1,200,000



At 31 January 2022
1,200,000




The investment properties were valued by the directors of the company on an open market existing use basis.


5.


Debtors

2022
2021
£
£


Other debtors
2,000
2,000

2,000
2,000



6.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
3,014
304,710

3,014
304,710



7.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank loans
-
125,000

Other taxation and social security
17,284
15,476

Other creditors
733,207
418,449

750,491
558,925


Page 6

 
CHAD 38 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022

8.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Bank loans
-
500,000

-
500,000



9.


Loans


Analysis of the maturity of loans is given below:


2022
2021
£
£

Amounts falling due within one year

Bank loans
-
125,000


-
125,000


Amounts falling due 2-5 years

Bank loans
-
500,000


-
500,000


-
625,000



10.


Deferred taxation




2022


£






At beginning of year
(68,685)



At end of year
(68,685)

Page 7

 
CHAD 38 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022
 
10.Deferred taxation (continued)

2022
2021
£
£


Accelerated capital allowances
(68,685)
(68,685)

(68,685)
(68,685)


11.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



1 (2021 - 1) Ordinary A Shares share of £1.00
1
1
1 (2021 - 1) Ordinary B Shares share of £1.00
1
1

2

2


 
Page 8