Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-311true2022-01-01falseNo description of principal activity1trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08329950 2022-01-01 2022-12-31 08329950 2021-01-01 2021-12-31 08329950 2022-12-31 08329950 2021-12-31 08329950 2021-01-01 08329950 1 2022-01-01 2022-12-31 08329950 d:Director1 2022-01-01 2022-12-31 08329950 e:Buildings e:LongLeaseholdAssets 2022-01-01 2022-12-31 08329950 e:Buildings e:LongLeaseholdAssets 2022-12-31 08329950 e:Buildings e:LongLeaseholdAssets 2021-12-31 08329950 e:OfficeEquipment 2022-01-01 2022-12-31 08329950 e:OfficeEquipment 2022-12-31 08329950 e:OfficeEquipment 2021-12-31 08329950 e:LeaseholdInvestmentProperty 2022-01-01 2022-12-31 08329950 e:LeaseholdInvestmentProperty 2022-12-31 08329950 e:LeaseholdInvestmentProperty 2 2022-01-01 2022-12-31 08329950 e:CurrentFinancialInstruments 2022-12-31 08329950 e:CurrentFinancialInstruments 2021-12-31 08329950 e:Non-currentFinancialInstruments 2022-12-31 08329950 e:Non-currentFinancialInstruments 2021-12-31 08329950 e:CurrentFinancialInstruments e:WithinOneYear 2022-12-31 08329950 e:CurrentFinancialInstruments e:WithinOneYear 2021-12-31 08329950 e:Non-currentFinancialInstruments e:AfterOneYear 2022-12-31 08329950 e:Non-currentFinancialInstruments e:AfterOneYear 2021-12-31 08329950 e:ShareCapital 2022-01-01 2022-12-31 08329950 e:ShareCapital 2022-12-31 08329950 e:ShareCapital 2021-01-01 2021-12-31 08329950 e:ShareCapital 2021-12-31 08329950 e:ShareCapital 2021-01-01 08329950 e:RevaluationReserve 2022-01-01 2022-12-31 08329950 e:InvestmentPropertiesRevaluationReserve 2022-01-01 2022-12-31 08329950 e:InvestmentPropertiesRevaluationReserve 2022-12-31 08329950 e:InvestmentPropertiesRevaluationReserve 1 2022-01-01 2022-12-31 08329950 e:InvestmentPropertiesRevaluationReserve 2021-12-31 08329950 e:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 08329950 e:RetainedEarningsAccumulatedLosses 2022-12-31 08329950 e:RetainedEarningsAccumulatedLosses 1 2022-01-01 2022-12-31 08329950 e:RetainedEarningsAccumulatedLosses 2021-01-01 2021-12-31 08329950 e:RetainedEarningsAccumulatedLosses 2021-12-31 08329950 e:RetainedEarningsAccumulatedLosses 2021-01-01 08329950 e:AcceleratedTaxDepreciationDeferredTax 2022-12-31 08329950 e:AcceleratedTaxDepreciationDeferredTax 2021-12-31 08329950 d:OrdinaryShareClass1 2022-01-01 2022-12-31 08329950 d:OrdinaryShareClass1 2022-12-31 08329950 d:OrdinaryShareClass1 2021-12-31 08329950 d:FRS102 2022-01-01 2022-12-31 08329950 d:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 08329950 d:FullAccounts 2022-01-01 2022-12-31 08329950 d:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 08329950 5 2022-01-01 2022-12-31 08329950 6 2022-01-01 2022-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 08329950









ARCHIE PROPERTY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
ARCHIE PROPERTY LIMITED
REGISTERED NUMBER: 08329950

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
332,122

Investments
 5 
1
1

Investment property
 6 
705,000
-

  
705,001
332,123

Current assets
  

Debtors: amounts falling due after more than one year
 7 
787,605
557,522

Debtors: amounts falling due within one year
 7 
23,097
3,945

Cash at bank and in hand
 8 
32,493
38,936

  
843,195
600,403

Creditors: amounts falling due within one year
 9 
(174,760)
(39,736)

Net current assets
  
 
 
668,435
 
 
560,667

Total assets less current liabilities
  
1,373,436
892,790

Creditors: amounts falling due after more than one year
 10 
(913,363)
(722,308)

Provisions for liabilities
  

Deferred tax
 11 
(93,219)
-

  
 
 
(93,219)
 
 
-

Net assets
  
366,854
170,482


Capital and reserves
  

Called up share capital 
 12 
1
1

Investment property reserve
 13 
279,660
-

Profit and loss account
  
87,193
170,481

  
366,854
170,482


Page 1

 
ARCHIE PROPERTY LIMITED
REGISTERED NUMBER: 08329950
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 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 on 11 October 2023.




Daniel Mcpherson
Director

The notes on pages 5 to 12 form part of these financial statements.

Page 2

 
ARCHIE PROPERTY LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2022


Called up share capital
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 January 2022
1
-
170,481
170,482


Comprehensive income for the year

Profit for the year

-
-
289,591
289,591

Other movement type 1
-
279,660
-
279,660


Other comprehensive income for the year
-
279,660
-
279,660


Total comprehensive income for the year
-
279,660
289,591
569,251


Contributions by and distributions to owners

Transfer to/from profit and loss account
-
-
(372,879)
(372,879)


Total transactions with owners
-
-
(372,879)
(372,879)


At 31 December 2022
1
279,660
87,193
366,854


The notes on pages 5 to 12 form part of these financial statements.

Page 3

 
ARCHIE PROPERTY LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2021


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 January 2021
1
139,586
139,587


Comprehensive income for the year

Profit for the year

-
30,895
30,895


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
30,895
30,895


Total transactions with owners
-
-
-


At 31 December 2021
1
170,481
170,482


The notes on pages 5 to 12 form part of these financial statements.

Page 4

 
ARCHIE PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

Archie Property Limited is a private company limited by shares and incorporated in England. Its registered office 124 Finchley Road, London, NW3 5JS.

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

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.

Page 5

 
ARCHIE PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.5

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.

 
2.6

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.7

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 6

 
ARCHIE PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.8

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 balance sheet 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.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
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

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.

 
2.13

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
Page 7

 
ARCHIE PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)


2.13
Financial instruments (continued)

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.

Investments in non-derivative instruments that are equity to the issuer are measured:
at fair value with changes recognised in the Statement of Income and Retained Earnings if the shares are publicly traded or their fair value can otherwise be measured reliably;
at cost less impairment for all other investments.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange derivatives.


3.


Employees

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

Page 8

 
ARCHIE PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

4.


Tangible fixed assets





Long-term leasehold property
Office equipment
Total

£
£
£



Cost or valuation


At 1 January 2022
342,057
34,874
376,931


Transfers between classes
(332,122)
-
(332,122)



At 31 December 2022

9,935
34,874
44,809



Depreciation


At 1 January 2022
9,935
34,874
44,809



At 31 December 2022

9,935
34,874
44,809



Net book value



At 31 December 2022
-
-
-



At 31 December 2021
332,122
-
332,122


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2022
1



At 31 December 2022
1




Page 9

 
ARCHIE PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

6.


Investment property


Long term leasehold investment property

£



Valuation


Additions at cost
342,056


Fair Value Movement
362,944



At 31 December 2022
705,000

The 2022 valuations were made by Directors, on an open market value for existing use basis.



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

2022
2021
£
£


Historic cost
342,056
-

342,056
-


7.


Debtors

2022
2021
£
£

Due after more than one year

Amounts owed by group undertakings
785,657
557,522

Other debtors
1,948
-

787,605
557,522


2022
2021
£
£

Due within one year

Trade debtors
23,097
-

Prepayments and accrued income
-
3,945

23,097
3,945


Page 10

 
ARCHIE PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

8.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
32,493
38,936

32,493
38,936



9.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
1,560
660

Corporation tax
143,356
8,801

Other taxation and social security
4,867
4,429

Accruals and deferred income
24,977
25,846

174,760
39,736



10.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Other loans
913,363
722,308

913,363
722,308



11.


Deferred taxation




2022


£






Charged to profit or loss
(93,219)



At end of year
(93,219)

Page 11

 
ARCHIE PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
 
11.Deferred taxation (continued)

The deferred taxation balance is made up as follows:

2022
2021
£
£


Deferred taxes on revalued  gain
(93,219)
-

(93,219)
-


12.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



1 (2021 - 1) Ordinary share of £1.00
1
1



13.


Reserves

Revaluation reserve

This Includes amounts revalued on investment property as at 31 December 2022. This unrealised revaluation surplus does not form parts of the profits available for distribution.  Provision for deferred tax on the surplus on revaluation of nvestment properties has been made in the financial statements and is included within this account.


14.


Related party transactions

At the reporting date, the company owed £913,363 (2021:722,308) to its directors. The balance is interest free and repayable on demand. The amount owed by group entities was £785,657 (2021:557,522).

 
Page 12