Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-31No description of principal activity2022-06-01false31falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05130019 2022-06-01 2023-05-31 05130019 2021-06-01 2022-05-31 05130019 2023-05-31 05130019 2022-05-31 05130019 c:Director1 2022-06-01 2023-05-31 05130019 d:Buildings 2022-06-01 2023-05-31 05130019 d:Buildings 2023-05-31 05130019 d:Buildings 2022-05-31 05130019 d:Buildings d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 05130019 d:FurnitureFittings 2022-06-01 2023-05-31 05130019 d:FurnitureFittings 2023-05-31 05130019 d:FurnitureFittings 2022-05-31 05130019 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 05130019 d:OfficeEquipment 2022-06-01 2023-05-31 05130019 d:OfficeEquipment 2023-05-31 05130019 d:OfficeEquipment 2022-05-31 05130019 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 05130019 d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 05130019 d:CurrentFinancialInstruments 2023-05-31 05130019 d:CurrentFinancialInstruments 2022-05-31 05130019 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 05130019 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 05130019 d:ShareCapital 2023-05-31 05130019 d:ShareCapital 2022-05-31 05130019 d:InvestmentPropertiesRevaluationReserve 2023-05-31 05130019 d:InvestmentPropertiesRevaluationReserve 2022-05-31 05130019 d:OtherMiscellaneousReserve 2022-06-01 2023-05-31 05130019 d:RetainedEarningsAccumulatedLosses 2022-06-01 2023-05-31 05130019 d:RetainedEarningsAccumulatedLosses 2023-05-31 05130019 d:RetainedEarningsAccumulatedLosses 2022-05-31 05130019 c:FRS102 2022-06-01 2023-05-31 05130019 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 05130019 c:FullAccounts 2022-06-01 2023-05-31 05130019 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 05130019 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-06-01 2023-05-31 05130019 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-05-31 05130019 6 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure

Registered number: 05130019









COLKIRK COTTAGES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

 
COLKIRK COTTAGES LIMITED
REGISTERED NUMBER: 05130019

BALANCE SHEET
AS AT 31 MAY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
935,322
935,502

Investments
 5 
20
20

  
935,342
935,522

Current assets
  

Debtors: amounts falling due within one year
 6 
9,925
498

Cash at bank and in hand
  
23,977
35,491

  
33,902
35,989

Creditors: amounts falling due within one year
 7 
(252,685)
(260,870)

Net current liabilities
  
 
 
(218,783)
 
 
(224,881)

Total assets less current liabilities
  
716,559
710,641

Provisions for liabilities
  

Deferred tax
  
(60,062)
(60,062)

  
 
 
(60,062)
 
 
(60,062)

Net assets
  
656,497
650,579


Capital and reserves
  

Called up share capital 
  
115
115

Investment property reserve
 8 
450,349
450,349

Profit and loss account
 8 
206,033
200,115

  
656,497
650,579


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 The financial statements.

The 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 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 profit and loss account in accordance with provisions applicable to
Page 1

 
COLKIRK COTTAGES LIMITED
REGISTERED NUMBER: 05130019
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2023

companies subject to the small companies' regime.

Page 2

 
COLKIRK COTTAGES LIMITED
REGISTERED NUMBER: 05130019
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2023

The The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 October 2023.





Mrs C.J. Joice
Director

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
COLKIRK COTTAGES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.


General information

The company is a private company limited by shares. It is both incorporated and domiciled in England and Wales. The address of its registered office is 7 The Close, Norwich, Norfolk, NR1 4DJ.
The company's principal activity is that of property rental. The principal place of business is North Norfolk.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover comprises revenue recognised by the company in respect of property rented in the period, exclusive of Value Added Tax.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Profit and loss account in the same period as the related expenditure.

Page 4

 
COLKIRK COTTAGES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 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 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.

 
2.5

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis and using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
not depreciated
Fixtures & fittings
-
25% reducing balance
Office equipment
-
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.

Page 5

 
COLKIRK COTTAGES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.6

Valuation of investments

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 Profit and loss account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

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 and loans to related parties.

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 1).

Page 6

 
COLKIRK COTTAGES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

4.


Tangible fixed assets





Freehold property
Fixtures & fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 June 2022
934,000
13,950
1,909
949,859


Additions
-
-
499
499



At 31 May 2023

934,000
13,950
2,408
950,358



Depreciation


At 1 June 2022
-
12,627
1,730
14,357


Charge for the year on owned assets
-
331
348
679



At 31 May 2023

-
12,958
2,078
15,036



Net book value



At 31 May 2023
934,000
992
330
935,322



At 31 May 2022
934,000
1,323
179
935,502


5.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 June 2022
20



At 31 May 2023
20




Page 7

 
COLKIRK COTTAGES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

6.


Debtors

2023
2022
£
£


Other debtors
9,431
-

Prepayments and accrued income
494
498

9,925
498



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
2,851
818

Other taxation and social security
1,401
2,977

Other creditors
245,000
254,560

Accruals and deferred income
3,433
2,515

252,685
260,870



8.


Reserves

Other reserves

The fair value reserves represent the cumulative value of revaluations of listed investments to fair value net of deferred tax. The amounts debited or credited to this reserve are transfers from the profit and loss account. Deferred tax is provided for on these fair value adjustments at the standard rate of corporation tax.

Profit & loss account

The profit and loss account includes all current and prior period retained profits and losses.


9.


Related party transactions

As at 31 May 2023 the company owed the directors £245,000.

 
Page 8