Caseware UK (AP4) 2022.0.179 2022.0.179 2022-09-302022-09-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.12021-10-01falseNo description of principal activity1falsetrue 11174466 2021-10-01 2022-09-30 11174466 2020-10-01 2021-09-30 11174466 2022-09-30 11174466 2021-09-30 11174466 c:Director1 2021-10-01 2022-09-30 11174466 d:FreeholdInvestmentProperty 2021-10-01 2022-09-30 11174466 d:FreeholdInvestmentProperty 2022-09-30 11174466 d:FreeholdInvestmentProperty 2021-09-30 11174466 d:FreeholdInvestmentProperty 2 2021-10-01 2022-09-30 11174466 d:CurrentFinancialInstruments 2022-09-30 11174466 d:CurrentFinancialInstruments 2021-09-30 11174466 d:Non-currentFinancialInstruments 2022-09-30 11174466 d:Non-currentFinancialInstruments 2021-09-30 11174466 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 11174466 d:CurrentFinancialInstruments d:WithinOneYear 2021-09-30 11174466 d:Non-currentFinancialInstruments d:AfterOneYear 2022-09-30 11174466 d:Non-currentFinancialInstruments d:AfterOneYear 2021-09-30 11174466 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-09-30 11174466 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-09-30 11174466 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-09-30 11174466 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-09-30 11174466 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-09-30 11174466 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2021-09-30 11174466 d:ShareCapital 2022-09-30 11174466 d:ShareCapital 2021-09-30 11174466 d:RetainedEarningsAccumulatedLosses 2021-10-01 2022-09-30 11174466 d:RetainedEarningsAccumulatedLosses 2022-09-30 11174466 d:RetainedEarningsAccumulatedLosses 2021-09-30 11174466 c:OrdinaryShareClass1 2021-10-01 2022-09-30 11174466 c:OrdinaryShareClass1 2022-09-30 11174466 c:OrdinaryShareClass1 2021-09-30 11174466 c:FRS102 2021-10-01 2022-09-30 11174466 c:AuditExempt-NoAccountantsReport 2021-10-01 2022-09-30 11174466 c:FullAccounts 2021-10-01 2022-09-30 11174466 c:PrivateLimitedCompanyLtd 2021-10-01 2022-09-30 11174466 d:AcceleratedTaxDepreciationDeferredTax 2022-09-30 11174466 d:AcceleratedTaxDepreciationDeferredTax 2021-09-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11174466









CORAM DEVELOPMENTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2022

 
CORAM DEVELOPMENTS LIMITED
REGISTERED NUMBER: 11174466

BALANCE SHEET
AS AT 30 SEPTEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Investment property
 4 
2,183,470
1,733,470

  
2,183,470
1,733,470

Current assets
  

Debtors
  
3,716
3,892

Cash at bank and in hand
 5 
4,568
2,938

  
8,284
6,830

Creditors: amounts falling due within one year
 6 
(546,931)
(382,442)

Net current liabilities
  
 
 
(538,647)
 
 
(375,612)

Total assets less current liabilities
  
1,644,823
1,357,858

Creditors: amounts falling due after more than one year
 7 
(1,688,749)
(1,357,066)

Provisions for liabilities
  

Deferred tax
 9 
(12,383)
(7,766)

  
 
 
(12,383)
 
 
(7,766)

Net liabilities
  
(56,309)
(6,974)


Capital and reserves
  

Called up share capital 
 11 
100
100

Profit and loss account
 12 
(56,409)
(7,074)

  
(56,309)
(6,974)


The director considers 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 director acknowledges his 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

 
CORAM DEVELOPMENTS LIMITED
REGISTERED NUMBER: 11174466
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2022


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Kenan Ozdas
Director

Date: 15 November 2023

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
CORAM DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

1.


General information

Coram Developments Limited is a private company limited by share capital, incprporated in England and Wales, registration number 11174466. The address of the registered office is 291 Green Lanes, Palmers Green, London N13 4XS.

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:

Turnover comprises of rents received by the company during the year.
Turnover is recognised in the period that the rent relates to.

 
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.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
CORAM DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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

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.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.
Page 4

 
CORAM DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

2.Accounting policies (continued)


2.7
Financial instruments (continued)


Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
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.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2021 - 1).

Page 5

 
CORAM DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

4.


Investment property


Freehold investment property

£



Valuation


At 1 October 2021
1,733,470


Additions at cost
441,342


Surplus on revaluation
8,658



At 30 September 2022
2,183,470

The 2022 valuations were made by the director, on an open market value for existing use basis.



At 30 September 2022





5.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
4,568
2,938

Less: bank overdrafts
(8,794)
(8,557)

(4,226)
(5,619)



6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank overdrafts
8,794
8,557

Trade creditors
5,282
3,827

Other creditors
531,535
368,858

Accruals and deferred income
1,320
1,200

546,931
382,442


Page 6

 
CORAM DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

7.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Bank loans
1,688,749
1,357,066

1,688,749
1,357,066


Bank loans are secured by way of a floating charge over all the properties and undertaking of the company.


8.


Loans


Analysis of the maturity of loans is given below:


2022
2021
£
£


Amounts falling due 1-2 years

Bank loans
9,026
8,773

Amounts falling due 2-5 years

Bank loans
22,176
27,671

Amounts falling due after more than 5 years

Bank loans
1,657,546
1,320,623

1,688,748
1,357,067



9.


Deferred taxation




2022


£






At beginning of year
(7,766)


Charged to profit or loss
(4,617)



At end of year
(12,383)

Page 7

 
CORAM DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
 
9.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2022
2021
£
£


Accelerated capital allowances
(12,383)
(7,766)

(12,383)
(7,766)


10.


Provisions










At 30 September 2022


11.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



100 (2021 - 100) Ordinary shares of £1.00 each
100
100



12.


Reserves

Profit and loss account

The profit and loss account includes non-distributable reserves of £44,913 (2021: £40,872).


13.


Related party transactions

Included within Other Creditors at the year end is an amount of £531,535 (2021:£368,858) owed to the Director by the Company. During the year the company made payments to and on behalf of the director of £153,828 (2021:£154,534). During the year the director made contributions to the company of £316,505 (2021:£189,000) . The loan is unsecured, free of interest and repayable on demand.  

 
Page 8