Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-31No description of principal activity92021-01-01false9truetrue 01920258 2021-01-01 2021-12-31 01920258 2020-01-01 2020-12-31 01920258 2021-12-31 01920258 2020-12-31 01920258 c:Director5 2021-01-01 2021-12-31 01920258 d:Buildings 2021-01-01 2021-12-31 01920258 d:Buildings 2021-12-31 01920258 d:Buildings 2020-12-31 01920258 d:Buildings d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 01920258 d:PlantMachinery 2021-01-01 2021-12-31 01920258 d:PlantMachinery 2021-12-31 01920258 d:PlantMachinery 2020-12-31 01920258 d:PlantMachinery d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 01920258 d:FurnitureFittings 2021-01-01 2021-12-31 01920258 d:FurnitureFittings 2021-12-31 01920258 d:FurnitureFittings 2020-12-31 01920258 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 01920258 d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 01920258 d:FreeholdInvestmentProperty 2021-12-31 01920258 d:FreeholdInvestmentProperty 2020-12-31 01920258 d:CurrentFinancialInstruments 2021-12-31 01920258 d:CurrentFinancialInstruments 2020-12-31 01920258 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 01920258 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 01920258 d:ShareCapital 2021-12-31 01920258 d:ShareCapital 2020-12-31 01920258 d:SharePremium 2021-12-31 01920258 d:SharePremium 2020-12-31 01920258 d:RetainedEarningsAccumulatedLosses 2021-12-31 01920258 d:RetainedEarningsAccumulatedLosses 2020-12-31 01920258 c:OrdinaryShareClass1 2021-01-01 2021-12-31 01920258 c:OrdinaryShareClass1 2021-12-31 01920258 c:OrdinaryShareClass1 2020-12-31 01920258 c:FRS102 2021-01-01 2021-12-31 01920258 c:Audited 2021-01-01 2021-12-31 01920258 c:FullAccounts 2021-01-01 2021-12-31 01920258 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 01920258 c:SmallCompaniesRegimeForAccounts 2021-01-01 2021-12-31 01920258 d:AcceleratedTaxDepreciationDeferredTax 2021-12-31 01920258 d:AcceleratedTaxDepreciationDeferredTax 2020-12-31 01920258 d:TaxLossesCarry-forwardsDeferredTax 2021-12-31 01920258 d:TaxLossesCarry-forwardsDeferredTax 2020-12-31 01920258 d:OtherDeferredTax 2021-12-31 01920258 d:OtherDeferredTax 2020-12-31 xbrli:shares iso4217:GBP xbrli:pure


Registered number: 01920258












ENTERADEN LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

 

ENTERADEN LIMITED

CONTENTS



Page
Balance Sheet
 
 
1
Notes to the Financial Statements
 
 
2 - 9


 
REGISTERED NUMBER:01920258
ENTERADEN LIMITED

BALANCE SHEET
AS AT 31 DECEMBER 2021

2021
2020
Note
£
£

Fixed assets
  

Tangible assets
 5 
271,387
274,475

Investment property
 6 
1,175,000
1,175,000

  
1,446,387
1,449,475

Current assets
  

Debtors: amounts falling due within one year
 7 
37,033
13,690

Cash at bank and in hand
  
155,606
101,784

  
192,639
115,474

Creditors: amounts falling due within one year
 8 
(26,995)
(14,926)

Net current assets
  
 
 
165,644
 
 
100,548

Total assets less current liabilities
  
1,612,031
1,550,023

Provisions for liabilities
  

Deferred tax
 9 
(178,578)
(128,836)

  
 
 
(178,578)
 
 
(128,836)

Net assets
  
1,433,453
1,421,187


Capital and reserves
  

Called up share capital 
 10 
126
126

Share premium account
  
299
299

Profit and loss account
  
1,433,028
1,420,762

  
1,433,453
1,421,187


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 1 June 2022.

................................................
P R Johnson
Director

The notes on pages 2 to 9 form part of these financial statements.
Page 1

 

ENTERADEN LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1.


General information

Enteraden Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Lodge, Cheyne Court, Royal Hospital Road, London, SW3 5TP.
The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

 
2.3

Turnover

Turnover represents amounts receivable for rental income, premiums for lease extensions, the provision of CCTV and television facilities, licences for alterations and proceeds from the granting of leases over areas of communal space. Turnover is recognised when the company is contractually entitled to the income. 

 
2.4

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.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Page 2

 

ENTERADEN LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Land and buildings improvements
-
50 years
Building improvements
-
5 years
Fixtures and fittings
-
5 years

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.

Land and buildings used in the company’s business are reported as fixed assets, at fair value determined annually by the directors. The value is derived from an examination of current market rents and investment property yields for comparable real estate, adjusted for differences in the nature, location and condition of the specific property. No depreciation is provided. Changes in fair value are recognised in the income and expenditure account.

 
2.5

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 the income and expenditure account.

 
2.6

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.

 
2.7

Financial instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. 
 
The company’s policies for its major classes of financial assets and financial liabilities are set out below. 

Page 3

 

ENTERADEN LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

  
Financial instruments (continued)

Financial assets
Basic financial assets, including trade and other debtors, cash and bank balances, loans and advances made to the associated unincorporated service charge accounts 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Financial liabilities
Basic financial liabilities, including trade and other creditors, bank loans and loans from the associated service charge entity, 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 payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income and expenditure account. 
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 
For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. 
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in the income and expenditure account.

Page 4

 

ENTERADEN LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

  
Financial instruments (continued)

Derecognition of financial assets and financial liabilities
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) despite having retained some significant risks and rewards of ownership, 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. 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. 
Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.
 

  
2.8

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company. 

 
2.9

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 balance sheet 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 balance sheet 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 balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 9 (2020 - 9).

Page 5

 

ENTERADEN LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

4.


Taxation

2021
2020
£
£



Corporation tax
7,089
-

Deferred taxation
49,742
17,908

56,831
17,908

In the Spring Budget 2021, the UK Government announced that from 1 April 2023 the corporation tax rate would increase to 25% for companies with profits of over £250,000. A small profits rate will also be introduced for companies with profits of £50,000 or less so that they will continue to pay corporation tax at 19%. From this date companies with profits between £50,000 and £250,000 will pay tax at the main rate reduced by a marginal relief providing a gradual increase in the effective corporation tax rate. This new law was substantively enacted on 24 May 2021. Deferred taxes at the balance sheet date have been measured using these enacted tax rates and reflected in these financial statements.


5.


Tangible fixed assets





Freehold property
Building improvements
Fixtures and fittings
Total

£
£
£
£



Cost or fair value


At 1 January 2021
210,000
161,991
5,040
377,031



At 31 December 2021

210,000
161,991
5,040
377,031



Depreciation


At 1 January 2021
-
101,548
1,008
102,556


Charge for the year on owned assets
-
2,080
1,008
3,088



At 31 December 2021

-
103,628
2,016
105,644



Net book value



At 31 December 2021
210,000
58,363
3,024
271,387



At 31 December 2020
210,000
60,443
4,032
274,475
Page 6

 

ENTERADEN LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

6.


Investment property


Freehold investment property

£



Valuation


At 1 January 2021
1,175,000



At 31 December 2021
1,175,000

Investment property comprises of a freehold property located in the UK. The fair value of the investment property has been arrived at by considering the valuation carried out by Ashdown Marks who is not connected with the company. Ashdown Marks took into account the location and situation of the property, the quality and condition of the asset and the underlying fundamentals of the respective occupational markets.
The property valuation took place in April 2022. 



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2021
2020
£
£


Historic cost
575,365
575,365

575,365
575,365


7.


Debtors

2021
2020
£
£


Trade debtors
100
-

Other debtors
36,933
13,690

37,033
13,690


Page 7

 

ENTERADEN LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

8.


Creditors: Amounts falling due within one year

2021
2020
£
£

Trade creditors
-
4,116

Corporation tax
7,089
-

Other creditors
14,896
5,800

Accruals
5,010
5,010

26,995
14,926



9.


Deferred taxation




2021


£






At beginning of year
(128,836)


Charged to profit or loss
(49,742)



At end of year
(178,578)

2021
2020
£
£


Accelerated capital allowances
(10,448)
(7,600)

Tax losses carried forward
-
6,543

Surplus on revaluation of investment property
(168,130)
(127,779)

(178,578)
(128,836)

Page 8

 

ENTERADEN LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

10.


Share capital

2021
2020
£
£
Allotted, called up and fully paid



126 (2020 - 126) Ordinary shares of £1.00 each
126
126



11.


Related party transactions

The company had an amount of £33,788 (2020: £13,690) due from its connected service charge entity.


12.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2021 was unqualified.

The audit report was signed on 1 June 2022 by Heather Powell FCA (Senior Statutory Auditor) on behalf of Blick Rothenberg Audit LLP.

 
Page 9