Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31No description of principal activity2022-04-01falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.44truetrue 00826866 2022-04-01 2023-03-31 00826866 2023-03-31 00826866 2021-04-01 2022-03-31 00826866 2022-03-31 00826866 c:Director1 2022-04-01 2023-03-31 00826866 c:Director2 2022-04-01 2023-03-31 00826866 c:Director3 2022-04-01 2023-03-31 00826866 c:Director4 2022-04-01 2023-03-31 00826866 c:RegisteredOffice 2022-04-01 2023-03-31 00826866 d:Buildings 2022-04-01 2023-03-31 00826866 d:Buildings 2023-03-31 00826866 d:Buildings 2022-03-31 00826866 d:Buildings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 00826866 d:Buildings d:LongLeaseholdAssets 2022-04-01 2023-03-31 00826866 d:Buildings d:LongLeaseholdAssets 2023-03-31 00826866 d:Buildings d:LongLeaseholdAssets 2022-03-31 00826866 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 00826866 d:CurrentFinancialInstruments 2023-03-31 00826866 d:CurrentFinancialInstruments 2022-03-31 00826866 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 00826866 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 00826866 d:ShareCapital 2023-03-31 00826866 d:ShareCapital 2022-03-31 00826866 d:SharePremium 2023-03-31 00826866 d:SharePremium 2022-03-31 00826866 d:RetainedEarningsAccumulatedLosses 2023-03-31 00826866 d:RetainedEarningsAccumulatedLosses 2022-03-31 00826866 c:FRS102 2022-04-01 2023-03-31 00826866 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 00826866 c:FullAccounts 2022-04-01 2023-03-31 00826866 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 00826866 d:WithinOneYear 2023-03-31 00826866 d:WithinOneYear 2022-03-31 00826866 d:BetweenOneFiveYears 2023-03-31 00826866 d:BetweenOneFiveYears 2022-03-31 00826866 d:MoreThanFiveYears 2023-03-31 00826866 d:MoreThanFiveYears 2022-03-31 00826866 6 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure
Company registration number: 00826866







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2023


GORSEWOOD SECURITIES LIMITED






































img4c96.png                        

 


GORSEWOOD SECURITIES LIMITED
 



CONTENTS



Page
Company information
1
Statement of financial position
2 - 3
Notes to the financial statements
4 - 8


 


GORSEWOOD SECURITIES LIMITED
 


 
COMPANY INFORMATION


Directors
A A Aldred 
D J Preston 
J D Preston 
M H Preston 




Registered number
00826866



Registered office
Suite A 1st Floor
Midas House

62 Goldsworth Road

Woking

Surrey

GU21 6LQ




Accountants
Menzies LLP
Chartered Accountants

1st Floor

Midas House

62 Goldsworth Road

Woking

Surrey

GU21 6LQ




Page 1

 


GORSEWOOD SECURITIES LIMITED
REGISTERED NUMBER:00826866



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,315,367
2,388,009

Investments
 5 
287,087
287,087

  
2,602,454
2,675,096

Current assets
  

Debtors: amounts falling due within one year
 6 
2,000,057
2,208,915

Bank and cash balances
  
893,755
572,762

  
2,893,812
2,781,677

Creditors: amounts falling due within one year
 7 
(171,211)
(184,037)

Net current assets
  
 
 
2,722,601
 
 
2,597,640

Total assets less current liabilities
  
5,325,055
5,272,736

  

Net assets
  
5,325,055
5,272,736


Capital and reserves
  

Called up share capital 
  
7,520
7,520

Share premium account
  
438,195
438,195

Profit and loss account
  
4,879,340
4,827,021

  
5,325,055
5,272,736


Page 2

 


GORSEWOOD SECURITIES LIMITED
REGISTERED NUMBER:00826866


    
STATEMENT OF FINANCIAL POSITION (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 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 14 November 2023.


................................................
M H Preston
Director

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

Page 3

 


GORSEWOOD SECURITIES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Gorsewood Securities Limited is a private Company limited by shares incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of its registered office is disclosed on the company information page. Gorsewood Securities Limited has no principal place of business.
The Company's functional and presentational currency is GBP.

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

Exemption from preparing consolidated financial statements

The Company and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Revenue

The revenue shown in the Statement of Income and Retained Earnings represents rental income for the year.
Rental income from investment properties leased out under operating leases is recognised in the Statement of Income and Retained Earnings on an accruals basis over the term of the lease. The effect of rent reviews is only recognised when such reviews have been agreed with tenants. Where rents are subject to fixed indexation in lieu of rent reviews, the rents are recognised on a systematic basis as income in the periods in which they are earned.
Where a rent free period is included in a lease, the rental income foregone is allocated evenly over the period from the date of lease commencement to the earliest termination date.

 
2.4

Taxation

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.

 
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.

Page 4

 


GORSEWOOD SECURITIES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.5
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:

Freehold property
-
50 years
Long-term leasehold property
-
Over the lease period.

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.

Freehold buildings are depreciated over 50 years from the date of acquisition. Any additions made to Freehold buildings will be depreciated over the remaining period left over from the initial 50 years.

  
2.6

Investment property

Investment properties are stated at cost less depreciation. This is not in accordance with FRS102, which requires investment properties to be revalued each year with the related market value uplift or reduction being included in the Statement of Income and Retained earnings for the year. 

The directors consider that it would be an unreasonable drain on the company's resources to obtain external revaluations of the investment properties each year and do not consider that there are sufficient internal resources to determine accurate directors' valuations with neither scenario providing commensurate benefit to the shareholders.

As a result, the effect on the amount shown in the balance sheet cannot be quantified.

 
2.7

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 Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
Investments in listed company shares are remeasured to market value at each Statement of Financial Position date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.8

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 non-puttable ordinary shares.

 
2.9

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.

Page 5

 


GORSEWOOD SECURITIES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

  
2.10

Leased assets and obligations

All leases are "operating leases" and the annual rentals are charged to the Statement of Income and Retained Earnings on a straight line basis over the lease term.


3.


Employees

The average monthly number of employees, including the Directors, during the year was as follows:


        2023
        2022
            No.
            No.







Average number of employees
4
4


4.


Tangible fixed assets





Freehold property
Long-term leasehold property
Total

£
£
£



Cost


At 1 April 2022
948,121
2,743,106
3,691,227



At 31 March 2023

948,121
2,743,106
3,691,227



Depreciation


At 1 April 2022
110,807
1,192,411
1,303,218


Charge for the year on owned assets
18,986
53,656
72,642



At 31 March 2023

129,793
1,246,067
1,375,860



Net book value



At 31 March 2023
818,328
1,497,039
2,315,367

Page 6

 


GORSEWOOD SECURITIES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Fixed asset investments





Investments in subsidiary companies
Other fixed asset investments
Total

£
£
£



Cost or valuation


At 1 April 2022
2
287,085
287,087



At 31 March 2023
2
287,085
287,087





6.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
1,955,180
2,169,195

Other debtors
44,877
39,720

2,000,057
2,208,915



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
28,379
27,328

Accruals and deferred income
142,832
156,709

171,211
184,037



8.


Commitments under operating leases

At 31 March 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
80,185
97,981

Later than 1 year and not later than 5 years
320,739
372,922

Later than 5 years
932,018
1,145,425

1,332,942
1,616,328

Page 7

 


GORSEWOOD SECURITIES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.Other financial commitments

The company acts as a guarantor for a bank loan currently held in its subsidairy company to the value of £101,444 (2022: £161,661) as at 31 March 2023.

 
Page 8