Caseware UK (AP4) 2022.0.179 2022.0.179 2022-04-302022-04-302021-05-01falseNo description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10743071 2021-05-01 2022-04-30 10743071 2020-05-01 2021-04-30 10743071 2022-04-30 10743071 2021-04-30 10743071 c:Director1 2021-05-01 2022-04-30 10743071 d:FurnitureFittings 2021-05-01 2022-04-30 10743071 d:FurnitureFittings 2022-04-30 10743071 d:FurnitureFittings 2021-04-30 10743071 d:PatentsTrademarksLicencesConcessionsSimilar 2022-04-30 10743071 d:PatentsTrademarksLicencesConcessionsSimilar 2021-04-30 10743071 d:FreeholdInvestmentProperty 2021-05-01 2022-04-30 10743071 d:FreeholdInvestmentProperty 2022-04-30 10743071 d:FreeholdInvestmentProperty 2021-04-30 10743071 d:CurrentFinancialInstruments 2022-04-30 10743071 d:CurrentFinancialInstruments 2021-04-30 10743071 d:Non-currentFinancialInstruments 2022-04-30 10743071 d:Non-currentFinancialInstruments 2021-04-30 10743071 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 10743071 d:CurrentFinancialInstruments d:WithinOneYear 2021-04-30 10743071 d:Non-currentFinancialInstruments d:AfterOneYear 2022-04-30 10743071 d:Non-currentFinancialInstruments d:AfterOneYear 2021-04-30 10743071 d:ShareCapital 2022-04-30 10743071 d:ShareCapital 2021-04-30 10743071 d:OtherMiscellaneousReserve 2022-04-30 10743071 d:OtherMiscellaneousReserve 2021-04-30 10743071 d:RetainedEarningsAccumulatedLosses 2022-04-30 10743071 d:RetainedEarningsAccumulatedLosses 2021-04-30 10743071 c:FRS102 2021-05-01 2022-04-30 10743071 c:AuditExempt-NoAccountantsReport 2021-05-01 2022-04-30 10743071 c:FullAccounts 2021-05-01 2022-04-30 10743071 c:PrivateLimitedCompanyLtd 2021-05-01 2022-04-30 10743071 2 2021-05-01 2022-04-30 iso4217:GBP xbrli:pure

Registered number: 10743071









WILLOUGHBY ROAD LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2022

 
WILLOUGHBY ROAD LIMITED
REGISTERED NUMBER: 10743071

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2022

2022
2021
Note
£
£

Fixed assets
  

Intangible assets
 4 
50,000
50,000

Investment property
  
858,060
854,550

  
908,060
904,550

Current assets
  

Debtors
  
12,171
12,171

Cash at bank and in hand
 7 
1,165
2,116

  
13,336
14,287

Creditors: amounts falling due within one year
 8 
(426,245)
(404,413)

Net current liabilities
  
 
 
(412,909)
 
 
(390,126)

Total assets less current liabilities
  
495,151
514,424

Creditors: amounts falling due after more than one year
 9 
(551,069)
(568,055)

  

Net liabilities
  
(55,918)
(53,631)


Capital and reserves
  

Called up share capital 
  
100
100

Other reserves
  
(51,886)
(51,886)

Profit and loss account
  
(4,132)
(1,845)

  
(55,918)
(53,631)


Page 1

 
WILLOUGHBY ROAD LIMITED
REGISTERED NUMBER: 10743071
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2022

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 by: 




S N Dunn
Director

Date: 16 October 2023

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
WILLOUGHBY ROAD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022

1.


General information

Willoughby Road Limited is a company limited by shares and incorporated in England. The company's registered office is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH. 
The principal activity of the company continued to be that of property investment. 
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

The financial statements have been prepared on the going concern basis. The company is dependent on the directors and shareholders for financial support, which the directors are confident will continue for a period of at least another 12 months.
As at 30 April 2022, the company had net liabilities of £55,918. The directors and shareholders have indicated their present intention to provide adequate finance to enable the company to continue in operational existence and on this basis the director considers it appropriate to prepare the financial statements on the going concern basis.
The financial statements do not reflect any adjustments that would result from a withdrawal of financial support by the directors and shareholders.

 
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

 
WILLOUGHBY ROAD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022

2.Accounting policies (continued)

 
2.4

Interest income

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

 
2.5

Borrowing costs

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

 
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 reporting 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 reporting 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 reporting date.

 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.8

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

 
WILLOUGHBY ROAD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022

2.Accounting policies (continued)


2.8
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:

Fixtures and fittings
-
33%
Straight line

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.

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

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

 
WILLOUGHBY ROAD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022

2.Accounting policies (continued)

 
2.13

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 reporting 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 Statement of financial position.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2021 - 2).


4.


Intangible assets




Digital asset

£



Cost


At 1 May 2021
50,000



At 30 April 2022

50,000






Net book value



At 30 April 2022
50,000



At 30 April 2021
50,000



Page 6

 
WILLOUGHBY ROAD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022

5.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 May 2021
551



At 30 April 2022

551



Depreciation


At 1 May 2021
551



At 30 April 2022

551



Net book value



At 30 April 2022
-


6.


Investment property


Freehold investment property

£



Valuation


At 1 May 2021
854,550


Additions at cost
3,510



At 30 April 2022
858,060

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




Page 7

 
WILLOUGHBY ROAD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022

7.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
1,165
2,116

1,165
2,116



8.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
-
750

Other creditors
412,080
403,063

Accruals and deferred income
2,250
600

Bank loans
11,915
-

426,245
404,413



9.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Bank loans
551,069
568,055

551,069
568,055


 
Page 8