Caseware UK (AP4) 2021.0.152 2021.0.152 2022-03-312022-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true1No description of principal activitytrue12021-04-01false 11199317 2021-04-01 2022-03-31 11199317 2020-04-01 2021-03-31 11199317 2022-03-31 11199317 2021-03-31 11199317 c:Director1 2021-04-01 2022-03-31 11199317 d:FreeholdInvestmentProperty 2022-03-31 11199317 d:FreeholdInvestmentProperty 2021-03-31 11199317 d:CurrentFinancialInstruments 2022-03-31 11199317 d:CurrentFinancialInstruments 2021-03-31 11199317 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 11199317 d:CurrentFinancialInstruments d:WithinOneYear 2021-03-31 11199317 d:ShareCapital 2022-03-31 11199317 d:ShareCapital 2021-03-31 11199317 d:RetainedEarningsAccumulatedLosses 2022-03-31 11199317 d:RetainedEarningsAccumulatedLosses 2021-03-31 11199317 c:OrdinaryShareClass1 2021-04-01 2022-03-31 11199317 c:OrdinaryShareClass1 2022-03-31 11199317 c:OrdinaryShareClass1 2021-03-31 11199317 c:FRS102 2021-04-01 2022-03-31 11199317 c:AuditExempt-NoAccountantsReport 2021-04-01 2022-03-31 11199317 c:FullAccounts 2021-04-01 2022-03-31 11199317 c:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 11199317 6 2021-04-01 2022-03-31 xbrli:shares iso4217:GBP xbrli:pure


Registered number: 11199317












SEGAL PROPERTY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022


 
REGISTERED NUMBER:11199317
SEGAL PROPERTY LIMITED

BALANCE SHEET
AS AT 31 MARCH 2022

2022
2021
Note
£
£

Fixed assets
  

Investments
 4 
1,322,690
1,494,120

Investment property
 5 
1,500,159
1,500,159

  
2,822,849
2,994,279

Current assets
  

Cash at bank and in hand
  
153,214
66,632

  
153,214
66,632

Creditors: amounts falling due within one year
 6 
(2,670,141)
(2,918,615)

Net current liabilities
  
 
 
(2,516,927)
 
 
(2,851,983)

Total assets less current liabilities
  
305,922
142,296

  

Net assets
  
305,922
142,296


Capital and reserves
  

Called up share capital 
 7 
2
2

Profit and loss account
  
305,920
142,294

  
305,922
142,296


Page 1


 
REGISTERED NUMBER:11199317
SEGAL PROPERTY LIMITED
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 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 19 August 2022.




Andrew Segal
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 

SEGAL PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1.


General information

Segal Property Limited is a private company limited by shares incorporated in England and Wales. The registered office is Palladium House, 1-4 Argyll Street, London, W1F 7LD. 
The financial statements are presented in sterling (£) which is the financial currency of the company. Monetary amounts 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 company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

The following principal accounting policies have been applied:

 
2.2

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 balance sheet date in the countries where the Company operates and generates income.

 
2.3

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.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.5

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 3

 

SEGAL PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)

 
2.6

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. 
 
Financial assets
Basic financial assets, including trade and other debtors, cash and bank balances, intercompany working capital balances, and intercompany financing 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, loans from fellow group companies and preference shares that are classified as debt, 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.
 
Page 4

 

SEGAL PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)


 (continued)



 (continued)

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 profit and loss 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 profit or loss.
 
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.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2021 -1).

Page 5

 

SEGAL PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

4.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 April 2021
1,494,120


DDisposals
(171,430)



At 31 March 2022
1,322,690





5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2021
1,500,159



At 31 March 2022
1,500,159

In the opinion of the director, Investment properties are valued in the financial statements at their open
market value as at 31 March 2022.





6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Corporation tax
38,381
13,670

Other creditors
2,628,160
2,902,125

Accruals and deferred income
3,600
2,820

2,670,141
2,918,615


Page 6

 

SEGAL PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

7.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



2 (2021 -2) Ordinary shares of £1.00 each
2
2



8.


Related party transactions

Included within other creditors is an amount of £2,548,286 (2021 - £2,650,820) due to the company's shareholders. The loan is provided interest free and is unsecured. There are no formal terms and conditions regarding the repayment of the loan.

 
Page 7