Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-04-01falseNo description of principal activity22truetrue 06830610 2022-04-01 2023-03-31 06830610 2021-04-01 2022-03-31 06830610 2023-03-31 06830610 2022-03-31 06830610 c:Director1 2022-04-01 2023-03-31 06830610 d:FurnitureFittings 2022-04-01 2023-03-31 06830610 d:FurnitureFittings 2023-03-31 06830610 d:FurnitureFittings 2022-03-31 06830610 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 06830610 d:FreeholdInvestmentProperty 2023-03-31 06830610 d:FreeholdInvestmentProperty 2022-03-31 06830610 d:FreeholdInvestmentProperty 2 2022-04-01 2023-03-31 06830610 d:CurrentFinancialInstruments 2023-03-31 06830610 d:CurrentFinancialInstruments 2022-03-31 06830610 d:Non-currentFinancialInstruments 2023-03-31 06830610 d:Non-currentFinancialInstruments 2022-03-31 06830610 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 06830610 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 06830610 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 06830610 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 06830610 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 06830610 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-03-31 06830610 d:ShareCapital 2023-03-31 06830610 d:ShareCapital 2022-03-31 06830610 d:InvestmentPropertiesRevaluationReserve 2023-03-31 06830610 d:InvestmentPropertiesRevaluationReserve 2022-03-31 06830610 d:OtherMiscellaneousReserve 2022-04-01 2023-03-31 06830610 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 06830610 d:RetainedEarningsAccumulatedLosses 2023-03-31 06830610 d:RetainedEarningsAccumulatedLosses 2022-03-31 06830610 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 06830610 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 06830610 c:FRS102 2022-04-01 2023-03-31 06830610 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 06830610 c:FullAccounts 2022-04-01 2023-03-31 06830610 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 06830610 2 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 06830610









COALVILLE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
COALVILLE LIMITED
REGISTERED NUMBER: 06830610

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
871
1,088

Investment property
 5 
3,475,000
3,700,000

  
3,475,871
3,701,088

Current assets
  

Debtors: amounts falling due within one year
 6 
679,736
676,923

Cash at bank and in hand
  
89,501
120,683

  
769,237
797,606

Creditors: amounts falling due within one year
 7 
(84,493)
(147,129)

Net current assets
  
 
 
684,744
 
 
650,477

Total assets less current liabilities
  
4,160,615
4,351,565

Creditors: amounts falling due after more than one year
 8 
(1,734,050)
(1,700,000)

Provisions for liabilities
  

Deferred Taxation
 10 
(567,438)
(623,688)

  
 
 
(567,438)
 
 
(623,688)

Net assets
  
1,859,127
2,027,877


Capital and reserves
  

Called up share capital 
  
100
100

Investment property reserve
 11 
1,859,023
2,027,773

Profit and loss account
 11 
4
4

  
1,859,127
2,027,877


Page 1

 
COALVILLE LIMITED
REGISTERED NUMBER: 06830610
    
BALANCE SHEET (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 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 5 October 2023.




M Docker
Director

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

Page 2

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

1.


General information

The entity is a private company, limited by shares and incorporated in England and Wales. The address of the registered office is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH. The financial statements are presented in sterling, which is the functional currency of the Company.

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:

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.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

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.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

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

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20% Reducing Balance

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 4

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

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 5

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

4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 April 2022
9,868



At 31 March 2023

9,868



Depreciation


At 1 April 2022
8,780


Charge for the year on owned assets
217



At 31 March 2023

8,997



Net book value



At 31 March 2023
871



At 31 March 2022
1,088

Page 6

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

5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2022
3,700,000


Surplus on revaluation
(225,000)



At 31 March 2023
3,475,000

The valuation of the investment property was made on 26th July 2022 by Paragon Bank, on an open market value for an existing use basis and represents the right of Britannia Houses, 177-183 Bow Common Lane, London E3 4JJ.  



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

2023
2022
£
£


Historic cost
1,048,539
1,048,539

1,048,539
1,048,539


6.


Debtors

2023
2022
£
£


Amounts owed by associated undertakings
665,000
665,000

Other debtors
14,736
11,923

679,736
676,923


Page 7

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

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
5,579
13,747

Other creditors
73,568
123,627

Accruals and deferred income
5,346
9,755

84,493
147,129



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
1,734,050
1,700,000

1,734,050
1,700,000


Secured loans
The bank loan is secured on the Investment Property. In addition, the directors have jointly and severally guaranteed the sum of £800,000. 


9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£




Amounts falling due after more than 5 years

Bank loans
1,734,050
1,700,000

1,734,050
1,700,000

1,734,050
1,700,000


Page 8

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

10.


Deferred taxation




2023


£






At beginning of year
(623,688)


Charged to profit or loss
56,250



At end of year
(567,438)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Revaluation of investment property
(567,438)
(623,688)

(567,438)
(623,688)

The deferred tax provision for the year under review relates to the notional tax charge after indexation at the applicable substantive future corporation tax rates (25%) arising on the unrealised gains on disposal of the units in the investment property.


11.


Reserves

Other reserves

Non-distributable reserves comprises the cumulative fair value revaluation gains/(losses) on the investment properties, net of any accumulated associated deferred tax credit/(cost). 

Profit and loss account

Profit & loss reserves are calculated after taking into account the profit/(loss) and interim dividends payable in the year. During the year under review, the Company paid interim dividends of £23,568 (2022: £73,627) to the shareholders, in accordance with their attached rights as specified in the articles of association.


12.


Related party transactions

Included in debtors is an amount of £665,000 (2022: £665,000) owed from an associated company. 
Included in creditors is an amount of £50,000 (2022: £50,000) payable to a company under common control. 
Included in creditors are amounts of £22,010 (2022: £45,275) payable to a director of the Company.
Included in creditors is an amount of £1,558 (2022: £28,352) payable to a director of the Company.

Page 9

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

13.


Controlling party

During the year under review, the Company was not under the control of any one individual. 

 
Page 10