Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31true2022-04-01falseNo description of principal activity44falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00652185 2022-04-01 2023-03-31 00652185 2021-04-01 2022-03-31 00652185 2023-03-31 00652185 2022-03-31 00652185 c:Director1 2022-04-01 2023-03-31 00652185 d:FreeholdInvestmentProperty 2023-03-31 00652185 d:FreeholdInvestmentProperty 2022-03-31 00652185 d:FreeholdInvestmentProperty 2 2022-04-01 2023-03-31 00652185 d:CurrentFinancialInstruments 2023-03-31 00652185 d:CurrentFinancialInstruments 2022-03-31 00652185 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 00652185 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 00652185 d:ShareCapital 2023-03-31 00652185 d:ShareCapital 2022-03-31 00652185 d:InvestmentPropertiesRevaluationReserve 2023-03-31 00652185 d:InvestmentPropertiesRevaluationReserve 2022-03-31 00652185 d:RetainedEarningsAccumulatedLosses 2023-03-31 00652185 d:RetainedEarningsAccumulatedLosses 2022-03-31 00652185 c:FRS102 2022-04-01 2023-03-31 00652185 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 00652185 c:FullAccounts 2022-04-01 2023-03-31 00652185 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 00652185 2 2022-04-01 2023-03-31 00652185 d:OtherDeferredTax 2023-03-31 00652185 d:OtherDeferredTax 2022-03-31 iso4217:GBP xbrli:pure

Registered number: 00652185









NORTHWAY HOUSE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
NORTHWAY HOUSE LIMITED
REGISTERED NUMBER: 00652185

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
4,300,000
4,500,000

  
4,300,000
4,500,000

Current assets
  

Debtors: amounts falling due within one year
 5 
610
600

Cash at bank and in hand
 6 
341,981
323,460

  
342,591
324,060

Creditors: amounts falling due within one year
 7 
(125,183)
(124,070)

Net current assets
  
 
 
217,408
 
 
199,990

Total assets less current liabilities
  
4,517,408
4,699,990

Provisions for liabilities
  

Deferred tax
 8 
(779,151)
(817,151)

  
 
 
(779,151)
 
 
(817,151)

Net assets
  
3,738,257
3,882,839


Capital and reserves
  

Called up share capital 
  
100
100

Investment property reserve
 9 
1,220,849
1,382,849

Profit and loss account
 9 
2,517,308
2,499,890

  
3,738,257
3,882,839


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

 
NORTHWAY HOUSE LIMITED
REGISTERED NUMBER: 00652185
    
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 on 29 September 2023.




E R Freiberger
Director

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

Page 2

 
NORTHWAY HOUSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Northway House Limited is a private company, limited by shares, domiciled in England and Wales, registration number 00652185. The registered office is Haslers, Old Station Road, Loughton, Essex, IG10 4PL. The principal activity of the company continued to be that of property investment.

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 financial statements are prepared in pounds sterling which is the functional currency of the company and rounded to the nearest £.
The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue represents rental income received from property investments. 

 
2.3

Interest income

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

 
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 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.

Page 3

 
NORTHWAY HOUSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
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

 
NORTHWAY HOUSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
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.

 
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 4 (2022 - 4).


4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2022
4,500,000


Surplus on revaluation
(200,000)



At 31 March 2023
4,300,000

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




Page 5

 
NORTHWAY HOUSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Debtors

2023
2022
£
£


Other debtors
10
-

Prepayments and accrued income
600
600

610
600



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
341,981
323,460

341,981
323,460



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
51,288
50,645

Accruals and deferred income
73,895
73,425

125,183
124,070



8.


Deferred taxation




2023


£






At beginning of year
(817,151)


Charged to profit or loss
38,000



At end of year
(779,151)

Page 6

 
NORTHWAY HOUSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
 
8.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Property Revaluation reserve
(779,151)
(817,151)

(779,151)
(817,151)


9.


Reserves

 
Page 7