Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31No description of principal activity2022-04-011false1truetrue 09092725 2022-04-01 2023-03-31 09092725 2021-04-01 2022-03-31 09092725 2023-03-31 09092725 2022-03-31 09092725 c:Director1 2022-04-01 2023-03-31 09092725 d:CurrentFinancialInstruments 2023-03-31 09092725 d:CurrentFinancialInstruments 2022-03-31 09092725 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09092725 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 09092725 d:ShareCapital 2023-03-31 09092725 d:ShareCapital 2022-03-31 09092725 d:RetainedEarningsAccumulatedLosses 2023-03-31 09092725 d:RetainedEarningsAccumulatedLosses 2022-03-31 09092725 c:OrdinaryShareClass1 2022-04-01 2023-03-31 09092725 c:OrdinaryShareClass1 2023-03-31 09092725 c:OrdinaryShareClass1 2022-03-31 09092725 c:FRS102 2022-04-01 2023-03-31 09092725 c:Audited 2022-04-01 2023-03-31 09092725 c:FullAccounts 2022-04-01 2023-03-31 09092725 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 09092725 c:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 09092725 6 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09092725









SF GROUND RENTS LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
SF GROUND RENTS LIMITED
REGISTERED NUMBER: 09092725

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 5 
25,434,608
25,434,608

  
25,434,608
25,434,608

Current assets
  

Debtors: amounts falling due within one year
 6 
10,141,167
10,141,167

  
10,141,167
10,141,167

Creditors: amounts falling due within one year
 7 
(88,471,357)
(88,471,357)

Net current liabilities
  
 
 
(78,330,190)
 
 
(78,330,190)

Total assets less current liabilities
  
(52,895,582)
(52,895,582)

  

Net liabilities
  
(52,895,582)
(52,895,582)


Capital and reserves
  

Called up share capital 
 8 
1
1

Profit and loss account
  
(52,895,583)
(52,895,583)

  
(52,895,582)
(52,895,582)


Page 1

 
SF GROUND RENTS LIMITED
REGISTERED NUMBER: 09092725
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

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 28 September 2023.




C R Jarvis
Director

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

Page 2

 
SF GROUND RENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

SF Ground Rents Limited is a private company limited by shares, incorporated in England & Wales (registered number: 09092725). Its registered office and principal place of business is Prospect Place, Moorside Road, Winchester, SO23 7RX. 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

Going concern

These accounts have been prepared on the going concern basis on the understanding that the intermediate parent company, SF Funding Limited, will continue to financially support the Company. At the year-end, creditors total £88,471,357 (2022: £88,471,357), of which £88,471,257 (2022: £88,471,257) is payable to group undertakings.

 
2.3

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:

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

 
SF GROUND RENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

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 Comprehensive Income 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.

 
2.5

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.

 
2.6

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.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the Company's accounting policies, which are described in note 2, management is required to make judgements, estimates and assumptions about the carrying values of assets and the liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revisions affect only that period, or in the period of the revisions and future periods if the revision affects both current and future periods.


4.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 4

 
SF GROUND RENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2022
25,434,608



At 31 March 2023
25,434,608





6.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
10,141,167
10,141,167

10,141,167
10,141,167



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
88,471,357
88,471,357

88,471,357
88,471,357



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary share share of £1.00
1
1



9.


Related party transactions

FRS102 does not require disclosure of transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member.

Page 5

 
SF GROUND RENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.


Controlling party

The smallest group to consolidate these financial statements is SF Funding Limited. The registered office and principal place of business of SF Funding Limited is Prospect Place, Moorside Road, Winchester, SO23 7RX.


11.


Auditors' information

The auditors' report on the financial statements for the year ended 31 March 2023 was unqualified.

The audit report was signed on 28 September 2023 by  (Senior Statutory Auditor) on behalf of Harris & Trotter LLP.

Page 6