Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-182023-02-182022-02-14falseOther Business support service activities not elsewhere classified55falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07510447 2022-02-14 2023-02-18 07510447 2021-02-14 2022-02-13 07510447 2023-02-18 07510447 2022-02-13 07510447 c:Director1 2022-02-14 2023-02-18 07510447 d:Buildings d:LongLeaseholdAssets 2022-02-14 2023-02-18 07510447 d:Buildings d:LongLeaseholdAssets 2023-02-18 07510447 d:Buildings d:LongLeaseholdAssets 2022-02-13 07510447 d:FurnitureFittings 2022-02-14 2023-02-18 07510447 d:FurnitureFittings 2023-02-18 07510447 d:FurnitureFittings 2022-02-13 07510447 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-02-14 2023-02-18 07510447 d:OwnedOrFreeholdAssets 2022-02-14 2023-02-18 07510447 d:CurrentFinancialInstruments 2023-02-18 07510447 d:CurrentFinancialInstruments 2022-02-13 07510447 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-18 07510447 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-13 07510447 d:ShareCapital 2023-02-18 07510447 d:ShareCapital 2022-02-13 07510447 d:RetainedEarningsAccumulatedLosses 2023-02-18 07510447 d:RetainedEarningsAccumulatedLosses 2022-02-13 07510447 c:FRS102 2022-02-14 2023-02-18 07510447 c:AuditExempt-NoAccountantsReport 2022-02-14 2023-02-18 07510447 c:FullAccounts 2022-02-14 2023-02-18 07510447 c:PrivateLimitedCompanyLtd 2022-02-14 2023-02-18 iso4217:GBP xbrli:pure

Registered number: 07510447









THE UNION REGENTS PLACE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 18 FEBRUARY 2023

 
THE UNION REGENTS PLACE LIMITED
REGISTERED NUMBER: 07510447

BALANCE SHEET
AS AT 18 FEBRUARY 2023

18 February
13 February
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 3 
259,992
294,911

  
259,992
294,911

Current assets
  

Stocks
 4 
10,246
7,834

Debtors: amounts falling due within one year
 5 
78,099
30,993

Cash at bank and in hand
 6 
57,139
37,036

  
145,484
75,863

Creditors: amounts falling due within one year
 7 
(331,929)
(73,526)

Net current (liabilities)/assets
  
 
 
(186,445)
 
 
2,337

Total assets less current liabilities
  
73,547
297,248

Provisions for liabilities
  

Deferred tax
  
(1,375)
-

  
 
 
(1,375)
 
 
-

Net assets
  
72,172
297,248


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
72,072
297,148

  
72,172
297,248


Page 1

 
THE UNION REGENTS PLACE LIMITED
REGISTERED NUMBER: 07510447
    
BALANCE SHEET (CONTINUED)
AS AT 18 FEBRUARY 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 period 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 profit and loss account 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: 




E. Guinness
Director

Date: 26 September 2023

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
THE UNION REGENTS PLACE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 18 FEBRUARY 2023

1.Accounting policies

 
1.1

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:

 
1.2

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that
the company has adequate resources to continue in operational existence for the foreseeable future.
Therefore, the directors have adopted the going concern basis of accounting in preparing the
financial statements.

 
1.3

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.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
THE UNION REGENTS PLACE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 18 FEBRUARY 2023

1.Accounting policies (continued)

 
1.4

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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
1.5

Current and deferred taxation

The tax expense for the period 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.

 
1.6

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.

Page 4

 
THE UNION REGENTS PLACE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 18 FEBRUARY 2023

1.Accounting policies (continued)


1.6
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
-
5%
Reducing balance basis
Fixtures and fittings
-
15%
Straight Line method

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.

 
1.7

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 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.

 
1.8

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.

 
1.9

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.

 
1.10

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.

Page 5

 
THE UNION REGENTS PLACE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 18 FEBRUARY 2023

1.Accounting policies (continued)

 
1.11

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
1.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Page 6

 
THE UNION REGENTS PLACE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 18 FEBRUARY 2023

1.Accounting policies (continued)


1.12
Financial instruments (continued)

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the
Page 7

 
THE UNION REGENTS PLACE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 18 FEBRUARY 2023

1.Accounting policies (continued)


1.12
Financial instruments (continued)

risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


2.


Employees

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


3.


Tangible fixed assets







Long-term leasehold property
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 14 February 2022
338,804
618,764
957,568


Additions
-
6,323
6,323



At 18 February 2023

338,804
625,087
963,891



Depreciation


At 14 February 2022
180,631
482,026
662,657


Charge for the period on owned assets
20,940
20,302
41,242



At 18 February 2023

201,571
502,328
703,899



Net book value



At 18 February 2023
137,233
122,759
259,992



At 13 February 2022
158,173
136,738
294,911

Page 8

 
THE UNION REGENTS PLACE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 18 FEBRUARY 2023

4.


Stocks

18 February
13 February
2023
2022
£
£

Finished goods and goods for resale
10,246
7,834

10,246
7,834



5.


Debtors

18 February
13 February
2023
2022
£
£


Other debtors
19,495
11,684

Prepayments and accrued income
58,604
13,917

Tax recoverable
-
5,392

78,099
30,993



6.


Cash and cash equivalents

18 February
13 February
2023
2022
£
£

Cash at bank and in hand
57,139
37,036

57,139
37,036


Page 9

 
THE UNION REGENTS PLACE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 18 FEBRUARY 2023

7.


Creditors: Amounts falling due within one year

18 February
13 February
2023
2022
£
£

Trade creditors
59,505
18,577

Amounts owed to other participating interests
227,818
9,693

Other taxation and social security
8,917
19,653

Other creditors
28,598
20,578

Accruals and deferred income
7,091
5,025

331,929
73,526



8.


Related party transactions

At the balance sheet date the business owed £227,411 (2022: £8,995) to The Union Bar and Grill Limited, a connected company.
At the balance sheet date the business owed £407 (2022: £698) to The Union Chiswick Limited, a connected company.

 
Page 10