Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01falsetrueNo description of principal activity44trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11470857 2022-04-01 2023-03-31 11470857 2021-04-01 2022-03-31 11470857 2023-03-31 11470857 2022-03-31 11470857 c:Director2 2022-04-01 2023-03-31 11470857 d:FreeholdInvestmentProperty 2023-03-31 11470857 d:FreeholdInvestmentProperty 2022-03-31 11470857 d:CurrentFinancialInstruments 2023-03-31 11470857 d:CurrentFinancialInstruments 2022-03-31 11470857 d:Non-currentFinancialInstruments 2023-03-31 11470857 d:Non-currentFinancialInstruments 2022-03-31 11470857 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 11470857 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 11470857 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 11470857 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 11470857 d:ShareCapital 2023-03-31 11470857 d:ShareCapital 2022-03-31 11470857 d:RetainedEarningsAccumulatedLosses 2023-03-31 11470857 d:RetainedEarningsAccumulatedLosses 2022-03-31 11470857 c:OrdinaryShareClass1 2022-04-01 2023-03-31 11470857 c:OrdinaryShareClass1 2023-03-31 11470857 c:OrdinaryShareClass1 2022-03-31 11470857 c:FRS102 2022-04-01 2023-03-31 11470857 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 11470857 c:FullAccounts 2022-04-01 2023-03-31 11470857 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 11470857









418 CENTENNIAL PARK 2018 LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
418 CENTENNIAL PARK 2018 LIMITED
REGISTERED NUMBER: 11470857

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
663,139
663,139

Current assets
  

Debtors: amounts falling due within one year
 5 
12,454
5,500

Cash at bank and in hand
 6 
30,397
3,835

  
42,851
9,335

Creditors: amounts falling due within one year
 7 
(81,577)
(34,805)

Net current liabilities
  
 
 
(38,726)
 
 
(25,470)

Total assets less current liabilities
  
624,413
637,669

Creditors: amounts falling due after more than one year
 8 
(690,000)
(690,000)

  

Net liabilities
  
(65,587)
(52,331)


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
(65,687)
(52,431)

Total equity
  
(65,587)
(52,331)


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.
 
Page 1

 
418 CENTENNIAL PARK 2018 LIMITED
REGISTERED NUMBER: 11470857
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



................................................
D Berko
Director
Date: 2 October 2023

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
418 CENTENNIAL PARK 2018 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

418 Centennial Park 2018 Ltd is a private company limited by shares and registered in England and Wales. Its registered office address is Aston House, Cornwall Avenue, London, N3 1LF. 
The financial statements are presented in Sterling (£), rounded to the nearest £1.

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

Going concern

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
UK Real Estate is yet to see the full impact of COVID 19 in terms of investment and occupier activity. The external valuation adviser has applied a “material uncertainty clause” to the 31 March 2021 valuation because they can no longer make reliable judgements on value in the current market. Although it is too early to tell what the longer-term effects may be. Various initiatives have been enacted across government and the industry to protect occupiers. Liquidity and transaction volumes for all but the best quality real estate are likely to be depressed for the immediate period, although it is too early to tell what the longer-term effects may be.

 
2.3

Revenue

Revenue comprises rental income, service charges and other recoveries from tenants of the company's investment properties net of value added tax. Rental income is recognised on an accruals basis in the period in which it is earned, in accordance with the terms of the lease. 

 
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

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.

Page 3

 
418 CENTENNIAL PARK 2018 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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.

 
2.8

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.

 
2.9

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.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

  
2.10

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).

Page 4

 
418 CENTENNIAL PARK 2018 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2022
663,139



At 31 March 2023
663,139

The 2023 valuations were made by the directors, on an open market value for existing use basis.




5.


Debtors

2023
2022
£
£


Trade debtors
-
5,400

Other debtors
10,100
100

Prepayments and accrued income
2,354
-

12,454
5,500



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
30,397
3,835



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
-
(82)

Other taxation and social security
6,327
2,387

Accruals and deferred income
75,250
32,500

81,577
34,805


Page 5

 
418 CENTENNIAL PARK 2018 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other loans
690,000
690,000


Other loans are secured by a fixed charge over the investment property.


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100


 
Page 6