Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-31false2021-01-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activity22falsetrue 11711521 2021-01-01 2021-12-31 11711521 2020-01-01 2020-12-31 11711521 2021-12-31 11711521 2020-12-31 11711521 c:Director1 2021-01-01 2021-12-31 11711521 c:Director2 2021-01-01 2021-12-31 11711521 d:LeaseholdInvestmentProperty 2021-12-31 11711521 d:LeaseholdInvestmentProperty 2020-12-31 11711521 d:CurrentFinancialInstruments 2021-12-31 11711521 d:CurrentFinancialInstruments 2020-12-31 11711521 d:Non-currentFinancialInstruments 2021-12-31 11711521 d:Non-currentFinancialInstruments 2020-12-31 11711521 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 11711521 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 11711521 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 11711521 d:Non-currentFinancialInstruments d:AfterOneYear 2020-12-31 11711521 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2021-12-31 11711521 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2020-12-31 11711521 d:ShareCapital 2021-12-31 11711521 d:ShareCapital 2020-12-31 11711521 d:RetainedEarningsAccumulatedLosses 2021-12-31 11711521 d:RetainedEarningsAccumulatedLosses 2020-12-31 11711521 c:OrdinaryShareClass1 2021-01-01 2021-12-31 11711521 c:OrdinaryShareClass1 2021-12-31 11711521 c:OrdinaryShareClass1 2020-12-31 11711521 c:FRS102 2021-01-01 2021-12-31 11711521 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 11711521 c:FullAccounts 2021-01-01 2021-12-31 11711521 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11711521













OPENROOM ESTATES LTD
FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

 
OPENROOM ESTATES LTD
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 6


 
OPENROOM ESTATES LTD
REGISTERED NUMBER:11711521

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2021

2021
2020
Note
£
£

Fixed assets
  

Investment property
 4 
1,077,973
1,077,973

Current assets
  

Debtors: amounts falling due within one year
 5 
100
100

Cash at bank and in hand
  
842
1,565

  
942
1,665

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(707,745)
(685,322)

Net current liabilities
  
 
 
(706,803)
 
 
(683,657)

Total assets less current liabilities
  
371,170
394,316

Creditors: amounts falling due after more than one year
 7 
(124,769)
(227,694)

  

Net assets
  
246,401
166,622


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
246,301
166,522

  
246,401
166,622


Page 1

 
OPENROOM ESTATES LTD
REGISTERED NUMBER:11711521
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 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 on 11 March 2022.




E Faure
F Horan
Director
Director

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

Page 2

 
OPENROOM ESTATES LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1.


General information

Openroom Estates Limited is a company which is incorporated in England and Wales and the registered office is Unit 2C, 36-37 Warple Way, London, W3 0RG.
The principal activity of the company is a rental property.

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

Turnover

Turnover is measured at the fair value of amounts receivable in respect of services provided in the year, net of trade discsounts and excluding value added tax.  
The turnover shown in the statement of comprehensive income represents rental income which is recognised on a receivable basis.  Rental income is recognised in the period the property is occupied.

 
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.

 
2.4

Borrowing costs

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

 
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 reporting date in the countries where the Company operates and generates income.

 
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.

Page 3

 
OPENROOM ESTATES LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.7

Financial instruments

The company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand, loands to/from related parites.  Trade debtors, other debtors and loans to related parties are recognised initially at the transaction price less attributable tranaction costs.  Trade creditors, other creditors and loans from related parties are recognised initially at transaction price plus attributable transaction costs.  Subsequently they are measure at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors, and loans to related parties. 


3.


Employees

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


4.


Investment property


Long term leasehold investment property

£



Valuation


At 1 January 2021
1,077,973



At 31 December 2021
1,077,973

The 2021 valuations were made by the Directors, on an open market value for existing use basis.







5.


Debtors

2021
2020
£
£


Called up share capital not paid
100
100


Page 4

 
OPENROOM ESTATES LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

6.


Creditors: Amounts falling due within one year

2021
2020
£
£

Bank loans
102,925
99,214

Amounts owed to group undertakings
586,108
586,108

Other taxation and social security
18,712
-

707,745
685,322



7.


Creditors: Amounts falling due after more than one year

2021
2020
£
£

Bank loans
124,769
227,694



8.


Loans


Analysis of the maturity of loans is given below:


2021
2020
£
£

Amounts falling due within one year

Bank loans
102,925
99,214

Amounts falling due after more than 5 years

Bank loans
124,769
227,694

227,694
326,908



9.


Share capital

2021
2020
£
£
Allotted, called up and fully paid



100 (2020 - 100) Ordinary shares of £1 each
100
100



10.


Related party transactions

As at the balance sheet date, the Company owed £586,108 (2020 - £586,108) by entities under common directorship included within other creditors.

Page 5

 
OPENROOM ESTATES LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

11.


Controlling party

The Directors regard Openroom Holdings Limited, a company registered in England and Wales, as the ultimate parent undertaking. Copies of its financial statements can be obtained from Companies House.

 
Page 6