Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31trueNo description of principal activity2022-04-01false55trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00457170 2022-04-01 2023-03-31 00457170 2023-03-31 00457170 2021-04-01 2022-03-31 00457170 2022-03-31 00457170 c:CompanySecretary1 2022-04-01 2023-03-31 00457170 c:Director1 2022-04-01 2023-03-31 00457170 c:Director2 2022-04-01 2023-03-31 00457170 c:Director3 2022-04-01 2023-03-31 00457170 c:Director4 2022-04-01 2023-03-31 00457170 c:RegisteredOffice 2022-04-01 2023-03-31 00457170 c:Agent1 2022-04-01 2023-03-31 00457170 d:Buildings 2022-04-01 2023-03-31 00457170 d:Buildings 2023-03-31 00457170 d:Buildings 2022-03-31 00457170 d:Buildings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 00457170 d:PlantMachinery 2022-04-01 2023-03-31 00457170 d:PlantMachinery 2023-03-31 00457170 d:PlantMachinery 2022-03-31 00457170 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 00457170 d:OfficeEquipment 2022-04-01 2023-03-31 00457170 d:OfficeEquipment 2023-03-31 00457170 d:OfficeEquipment 2022-03-31 00457170 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 00457170 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 00457170 d:CurrentFinancialInstruments 2023-03-31 00457170 d:CurrentFinancialInstruments 2022-03-31 00457170 d:Non-currentFinancialInstruments 2023-03-31 00457170 d:Non-currentFinancialInstruments 2022-03-31 00457170 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 00457170 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 00457170 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 00457170 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 00457170 d:UKTax 2022-04-01 2023-03-31 00457170 d:UKTax 2021-04-01 2022-03-31 00457170 d:ShareCapital 2023-03-31 00457170 d:ShareCapital 2022-03-31 00457170 d:SharePremium 2023-03-31 00457170 d:SharePremium 2022-03-31 00457170 d:CapitalRedemptionReserve 2023-03-31 00457170 d:CapitalRedemptionReserve 2022-03-31 00457170 d:RetainedEarningsAccumulatedLosses 2023-03-31 00457170 d:RetainedEarningsAccumulatedLosses 2022-03-31 00457170 c:FRS102 2022-04-01 2023-03-31 00457170 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 00457170 c:FullAccounts 2022-04-01 2023-03-31 00457170 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 00457170 1 2022-04-01 2023-03-31 00457170 6 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure
Company registration number: 00457170







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2023


RISEDEN LIMITED






































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RISEDEN LIMITED
 


 
COMPANY INFORMATION


Directors
Mr A M Keil 
Mrs S J Stillabower 
Mr E T Keil 
Mr M J MacAdam 




Company secretary
Mrs W E MacAdam



Registered number
00457170



Registered office
Ketton Dene
Guildford Road

Deepcut

Surrey

GU16 6RJ




Accountants
Menzies LLP
Chartered Accountants

1st Floor

Midas House

62 Goldsworth Road

Woking

Surrey

GU21 6LQ




Bankers
Svenska Handelsbanken AB
Andrews House

College Road

Guildford

Surrey

GU1 4RG




Solicitors
TWM Solicitors LLP
65 Woodbridge Road

Guildford

Surrey

Guildford

GU1 4RD





 


RISEDEN LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 9


 


RISEDEN LIMITED
REGISTERED NUMBER:00457170



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
13,089,456
14,348,678

Investments
 6 
61,075
61,075

  
13,150,531
14,409,753

Current assets
  

Stocks
  
15,306
9,958

Debtors: amounts falling due within one year
 7 
5,343,129
1,682,176

Cash at bank and in hand
  
572,282
97,101

  
5,930,717
1,789,235

Creditors: amounts falling due within one year
 8 
(8,396,525)
(1,047,346)

Net current (liabilities)/assets
  
 
 
(2,465,808)
 
 
741,889

Total assets less current liabilities
  
10,684,723
15,151,642

Creditors: amounts falling due after more than one year
 9 
(20,880)
(5,906,595)

Provisions for liabilities
  

Deferred tax
  
(300,978)
(263,291)

  
 
 
(300,978)
 
 
(263,291)

Net assets
  
10,362,865
8,981,756


Capital and reserves
  

Called up share capital 
  
169,182
169,182

Share premium account
  
2,301,201
2,301,201

Capital redemption reserve
  
64,639
64,639

Profit and loss account
  
7,827,843
6,446,734

  
10,362,865
8,981,756


Page 1

 


RISEDEN LIMITED
REGISTERED NUMBER:00457170


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

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 by: 




Mr M J MacAdam
Director

Date: 27 September 2023

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 


RISEDEN LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Riseden Limited is a private company limited by shares registered in England and Wales. The address of the registered office and principal place of business is disclosed on the company information page.

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

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Turnover

Turnover comprises rental income and service charges receivable in the year, dilapidation settlements and other services included at the invoiced value (excluding VAT where recoverable) of goods and services supplied in the year. 

 
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.

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.

The estimated useful lives range as follows:

Office equipment
-
over 5 or 10 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.

Page 3

 


RISEDEN LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Investment property

Investment property is carried at fair value determined annually by the directors 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. The value also includes any costs incurred in respect of obtaining planning consent on investment propertes, that have not expired by the year end.  No depreciation is provided. Changes in fair value are recognised in the Statement of Income and Retained Earnings.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 


RISEDEN LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.11

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 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 Statement of Financial Position 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.

 
2.12

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 first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2022 - 5).

Page 5

 


RISEDEN LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Taxation


2023
2022
£
£

Corporation tax


Current tax on profits for the year
169,934
62,913

Adjustments in respect of previous periods
-
(56)


Total current tax
169,934
62,857

Deferred tax


Origination and reversal of timing differences
4,620
67

Unrealised investment property gains
33,067
124,615

Total deferred tax
37,687
124,682


Taxation on profit on ordinary activities
207,621
187,539





Page 6

 


RISEDEN LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Tangible fixed assets





Investment property
Plant and machinery
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2022
14,339,289
-
70,674
14,409,963


Additions
2,924,478
19,020
1,301
2,944,799


Disposals
(5,950,000)
(7,390)
-
(5,957,390)


Revaluations
1,756,233
-
-
1,756,233



At 31 March 2023

13,070,000
11,630
71,975
13,153,605



Depreciation


At 1 April 2022
-
-
61,285
61,285


Charge for the year on owned assets
-
1,163
1,701
2,864



At 31 March 2023

-
1,163
62,986
64,149



Net book value



At 31 March 2023
13,070,000
10,467
8,989
13,089,456



At 31 March 2022
14,339,289
-
9,389
14,348,678


6.


Fixed asset investments





Investments in subsidiary companies
Unlisted investments
Total

£
£
£



Cost or valuation


At 1 April 2022
100
60,975
61,075



At 31 March 2023
100
60,975
61,075




Page 7

 


RISEDEN LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Debtors

2023
2022
£
£


Trade debtors
68,355
64,138

Amounts owed by group undertakings
1,049,750
1,149,750

Other debtors
4,217,887
462,046

Prepayments and accrued income
7,137
6,242

5,343,129
1,682,176


Included within other debtors is an amount of £76,267 (2022 - £94,667) falling due in more than one year. 


8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
7,536,250
125,000

Other loans
490,551
610,536

Trade creditors
5,186
838

Corporation tax
169,934
62,913

Other taxation and social security
26,322
45,473

Other creditors
23,978
23,096

Accruals and deferred income
144,304
179,490

8,396,525
1,047,346


The bank loans are secured via a fixed charge and negative pledge over the investment property owned by both the company and its wholly owned subsidiary.


9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
-
5,886,250

Other loans
20,880
20,345

20,880
5,906,595


Page 8

 


RISEDEN LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.


Post balance sheet events

Post year end in April 2023, the loan facilities were renewed with repayments to be made in full on the following maturity dates:
£4,000,000 - one year from when the new loan facility was made available
£3,100,000 - two years from when the new loan facility was made available

 
Page 9