Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01falseNo description of principal activity22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00390671 2022-04-01 2023-03-31 00390671 2021-04-01 2022-03-31 00390671 2023-03-31 00390671 2022-03-31 00390671 c:Director1 2022-04-01 2023-03-31 00390671 d:PlantMachinery 2022-04-01 2023-03-31 00390671 d:PlantMachinery 2023-03-31 00390671 d:PlantMachinery 2022-03-31 00390671 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 00390671 d:OfficeEquipment 2022-04-01 2023-03-31 00390671 d:OfficeEquipment 2023-03-31 00390671 d:OfficeEquipment 2022-03-31 00390671 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 00390671 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 00390671 d:FreeholdInvestmentProperty 2023-03-31 00390671 d:FreeholdInvestmentProperty 2022-03-31 00390671 d:CurrentFinancialInstruments 2023-03-31 00390671 d:CurrentFinancialInstruments 2022-03-31 00390671 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 00390671 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 00390671 d:ShareCapital 2023-03-31 00390671 d:ShareCapital 2022-03-31 00390671 d:InvestmentPropertiesRevaluationReserve 2022-04-01 2023-03-31 00390671 d:InvestmentPropertiesRevaluationReserve 2023-03-31 00390671 d:InvestmentPropertiesRevaluationReserve 2022-03-31 00390671 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 00390671 d:RetainedEarningsAccumulatedLosses 2023-03-31 00390671 d:RetainedEarningsAccumulatedLosses 2022-03-31 00390671 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 00390671 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 00390671 d:TaxLossesCarry-forwardsDeferredTax 2023-03-31 00390671 d:TaxLossesCarry-forwardsDeferredTax 2022-03-31 00390671 d:OtherDeferredTax 2023-03-31 00390671 d:OtherDeferredTax 2022-03-31 00390671 c:OrdinaryShareClass1 2022-04-01 2023-03-31 00390671 c:OrdinaryShareClass1 2023-03-31 00390671 c:OrdinaryShareClass1 2022-03-31 00390671 c:FRS102 2022-04-01 2023-03-31 00390671 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 00390671 c:FullAccounts 2022-04-01 2023-03-31 00390671 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 00390671 2 2022-04-01 2023-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 00390671










E.DAVIES (ATLAS FOUNDRY) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
E.DAVIES (ATLAS FOUNDRY) LIMITED
REGISTERED NUMBER:00390671

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
2,047
2,438

Investment property
 6 
850,000
850,000

  
852,047
852,438

Current assets
  

Debtors: amounts falling due within one year
 7 
22,851
19,338

Cash at bank and in hand
 8 
46,803
85,530

  
69,654
104,868

Creditors: amounts falling due within one year
 9 
(4,868)
(24,385)

Net current assets
  
 
 
64,786
 
 
80,483

Total assets less current liabilities
  
916,833
932,921

Provisions for liabilities
  

Deferred tax
 10 
(46,496)
(26,102)

  
 
 
(46,496)
 
 
(26,102)

Net assets
  
870,337
906,819


Capital and reserves
  

Called up share capital 
 11 
15,000
15,000

Investment property reserve
 12 
371,249
417,233

Profit and loss account
 12 
484,088
474,586

  
870,337
906,819


Page 1

 
E.DAVIES (ATLAS FOUNDRY) LIMITED
REGISTERED NUMBER:00390671
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 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 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 30 October 2023.




J A Nicholls
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
E.DAVIES (ATLAS FOUNDRY) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

E Davies (Atlas Foundry) Limited, 00390671, is a private company limited by shares, incorporated in England and Wales, with its registered office and principal place of business at Atlas Foundry, 48-52 Ennerdale Road, Harlescott, Shrewsbury, SY1 3NP.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       The principal activity of the Company is letting and operating of own real estate.

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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

 
E.DAVIES (ATLAS FOUNDRY) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
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 4

 
E.DAVIES (ATLAS FOUNDRY) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
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.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Office equipment
-
25%

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.

 
2.6

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.

 
2.7

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.

Page 5

 
E.DAVIES (ATLAS FOUNDRY) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
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, loans to related parties and investments in ordinary shares.

 
2.12

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.


Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations or future events that are believed to be reasonable under the circumstances.
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. In the opinion of the directors there  are no estimates nor assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. 


4.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 6

 
E.DAVIES (ATLAS FOUNDRY) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Tangible fixed assets





Plant and machinery
Office equipment
Total

£
£
£



Cost or valuation


At 1 April 2022
2,900
833
3,733


Additions
-
291
291



At 31 March 2023

2,900
1,124
4,024



Depreciation


At 1 April 2022
725
569
1,294


Charge for the year on owned assets
544
139
683



At 31 March 2023

1,269
708
1,977



Net book value



At 31 March 2023
1,631
416
2,047



At 31 March 2022
2,175
263
2,438

Page 7

 
E.DAVIES (ATLAS FOUNDRY) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Investment property


Freehold investment property

£



Valuation


At 1 April 2022
850,000



At 31 March 2023
850,000

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

2023
2022
£
£

Revaluation reserves


At 1 April 2022
417,233
417,233

Net deficit in movement properties
(45,984)
-

At 31 March 2023
371,249
417,233



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
425,819
425,819

425,819
425,819


7.


Debtors

2023
2022
£
£


Trade debtors
334
4,086

Other debtors
18,847
12,088

Prepayments and accrued income
3,670
3,164

22,851
19,338


Page 8

 
E.DAVIES (ATLAS FOUNDRY) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
46,803
85,530

46,803
85,530



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
-
(753)

Corporation tax
1,025
14,611

Other taxation and social security
2,667
6,486

Accruals and deferred income
1,176
4,041

4,868
24,385


Page 9

 
E.DAVIES (ATLAS FOUNDRY) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.


Deferred taxation




2023


£






At beginning of year
26,102


Charged to profit or loss
20,394



At end of year
46,496

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
512
610

Tax losses carried forward
-
(20,492)

Gain on revaluation of investment property
45,984
45,984

46,496
26,102


11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



15,000 (2022 - 15,000) Ordinary shares of £1.00 each
15,000
15,000


Page 10

 
E.DAVIES (ATLAS FOUNDRY) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

12.


Reserves

Investment property revaluation reserve

The investment property revaluation reserve is the surplus to market valuation at the balance sheet date
compared with historic cost.

Profit and loss account

The profit and loss account represents the accumulated profits of the Company since incorporation, less
distributions made to the shareholders.

 
Page 11