Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-312022-02-01falseNo description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05326972 2022-02-01 2023-01-31 05326972 2021-02-01 2022-01-31 05326972 2023-01-31 05326972 2022-01-31 05326972 c:Director1 2022-02-01 2023-01-31 05326972 d:CurrentFinancialInstruments 2023-01-31 05326972 d:CurrentFinancialInstruments 2022-01-31 05326972 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 05326972 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 05326972 d:ShareCapital 2023-01-31 05326972 d:ShareCapital 2022-01-31 05326972 d:RevaluationReserve 2023-01-31 05326972 d:RevaluationReserve 2022-01-31 05326972 d:RetainedEarningsAccumulatedLosses 2023-01-31 05326972 d:RetainedEarningsAccumulatedLosses 2022-01-31 05326972 c:OrdinaryShareClass1 2022-02-01 2023-01-31 05326972 c:OrdinaryShareClass1 2023-01-31 05326972 c:OrdinaryShareClass1 2022-01-31 05326972 c:OrdinaryShareClass2 2022-02-01 2023-01-31 05326972 c:OrdinaryShareClass2 2023-01-31 05326972 c:OrdinaryShareClass2 2022-01-31 05326972 c:FRS102 2022-02-01 2023-01-31 05326972 c:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 05326972 c:FullAccounts 2022-02-01 2023-01-31 05326972 c:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 05326972 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 05326972 d:AcceleratedTaxDepreciationDeferredTax 2022-01-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 05326972










CHAD 38 LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2023

 
CHAD 38 LIMITED
REGISTERED NUMBER: 05326972

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
1,200,000
1,200,000

  
1,200,000
1,200,000

Current assets
  

Debtors: amounts falling due within one year
 5 
2,000
2,000

Cash at bank and in hand
 6 
10,318
3,014

  
12,318
5,014

Creditors: amounts falling due within one year
 7 
(740,209)
(750,491)

Net current liabilities
  
 
 
(727,891)
 
 
(745,477)

Total assets less current liabilities
  
472,109
454,523

Provisions for liabilities
  

Deferred tax
 8 
(90,375)
(68,685)

  
 
 
(90,375)
 
 
(68,685)

Net assets
  
381,734
385,838


Capital and reserves
  

Called up share capital 
 9 
2
2

Revaluation reserve
  
361,500
361,500

Profit and loss account
  
20,232
24,336

  
381,734
385,838


Page 1

 
CHAD 38 LIMITED
REGISTERED NUMBER: 05326972
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 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 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 13 October 2023.




Mr A L Austin-Crowe
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
CHAD 38 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.


General information

Chad 38 Limited is a company domiciled in England and Wales, registration number is 05326972.  The registered office is Meadow House, Lower Kingsbury, Milborne Port, Sherborne DT9 5ED.

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.

Page 3

 
CHAD 38 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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.

 
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.

Page 4

 
CHAD 38 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.9

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.

 
2.10

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).


4.


Fixed asset investments





Investment properties

£



Cost or valuation


At 1 February 2022
1,200,000



At 31 January 2023
1,200,000




The investment properties were valued by the directors of the company on an open market existing use basis.

Page 5

 
CHAD 38 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

5.


Debtors

2023
2022
£
£


Other debtors
2,000
2,000

2,000
2,000



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
10,318
3,014

10,318
3,014



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other taxation and social security
19,829
17,284

Other creditors
720,380
733,207

740,209
750,491



8.


Deferred taxation




2023


£






At beginning of year
(68,685)


Charged to profit or loss
(21,690)



At end of year
(90,375)

Page 6

 
CHAD 38 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
 
8.Deferred taxation (continued)

2023
2022
£
£


Accelerated capital allowances
(90,375)
(68,685)

(90,375)
(68,685)


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary A Shares share of £1.00
1
1
1 (2022 - 1) Ordinary B Shares share of £1.00
1
1

2

2


 
Page 7