Caseware UK (AP4) 2022.0.179 2022.0.179 2022-09-302022-09-302021-10-01true1falsefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.1No description of principal activity 12225224 2021-10-01 2022-09-30 12225224 2022-09-30 12225224 2020-10-01 2021-09-30 12225224 2021-09-30 12225224 c:Director1 2021-10-01 2022-09-30 12225224 d:CurrentFinancialInstruments 2022-09-30 12225224 d:CurrentFinancialInstruments 2021-09-30 12225224 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 12225224 d:CurrentFinancialInstruments d:WithinOneYear 2021-09-30 12225224 d:ShareCapital 2022-09-30 12225224 d:ShareCapital 2021-09-30 12225224 d:RetainedEarningsAccumulatedLosses 2022-09-30 12225224 d:RetainedEarningsAccumulatedLosses 2021-09-30 12225224 c:FRS102 2021-10-01 2022-09-30 12225224 c:AuditExempt-NoAccountantsReport 2021-10-01 2022-09-30 12225224 c:FullAccounts 2021-10-01 2022-09-30 12225224 c:PrivateLimitedCompanyLtd 2021-10-01 2022-09-30 iso4217:GBP xbrli:pure
Registered number: 12225224


42 DEVELOPMENTS LIMITED








UNAUDITED

FINANCIAL STATEMENTS
 
PAGES FOR FILING WITH REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2022

 
42 DEVELOPMENTS LIMITED
REGISTERED NUMBER: 12225224

BALANCE SHEET
AS AT 30 SEPTEMBER 2022

2022
2021
Note
£
£

  

Current assets
  

Stocks
  
709,331
1,375,972

Debtors: amounts falling due within one year
 4 
2
29,772

Cash at bank and in hand
 5 
55,132
3,311

  
764,465
1,409,055

Creditors: amounts falling due within one year
 6 
(753,764)
(1,446,214)

Net current assets/(liabilities)
  
 
 
10,701
 
 
(37,159)

Total assets less current liabilities
  
10,701
(37,159)

  

Net assets/(liabilities)
  
10,701
(37,159)


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
10,699
(37,161)

  
10,701
(37,159)


Page 1

 
42 DEVELOPMENTS LIMITED
REGISTERED NUMBER: 12225224
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2022

The director considers 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 director acknowledges his 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 by: 




................................................
Andrew Budgen
Director

Date: 30 September 2023

The notes on pages 3 to 5 form part of these financial statements.
Page 2

 
42 DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

1.


General information

42 Developments Limited is a private company, limited by shares, domiciled in England and Wales, registration number 12225224. The registered office is 1 Vincent Square, London, England, SW1P 2PN. 

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.

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

Page 3

 
42 DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

2.Accounting policies (continued)

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately 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.

 
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.


3.


Employees

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


4.


Debtors

2022
2021
£
£


Other debtors
2
2

Prepayments and accrued income
-
29,770

2
29,772


Page 4

 
42 DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

5.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
55,132
3,311

55,132
3,311



6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Other loans
-
560,000

Corporation tax
2,510
-

Other creditors
746,934
883,814

Accruals and deferred income
4,320
2,400

753,764
1,446,214



7.


Related party transactions

Included within other creditors due within one year is a balance of £746,934 (2021: £883,815) due to A Budgen, the director of the company.

 
Page 5