Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31truefalse2022-04-01No description of principal activity11falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13087633 2022-04-01 2023-03-31 13087633 2020-12-17 2022-03-31 13087633 2023-03-31 13087633 2022-03-31 13087633 c:Director1 2022-04-01 2023-03-31 13087633 d:FreeholdInvestmentProperty 2022-04-01 2023-03-31 13087633 d:FreeholdInvestmentProperty 2023-03-31 13087633 d:FreeholdInvestmentProperty 2022-03-31 13087633 d:CurrentFinancialInstruments 2023-03-31 13087633 d:CurrentFinancialInstruments 2022-03-31 13087633 d:Non-currentFinancialInstruments 2023-03-31 13087633 d:Non-currentFinancialInstruments 2022-03-31 13087633 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 13087633 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 13087633 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 13087633 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 13087633 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 13087633 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 13087633 d:ShareCapital 2023-03-31 13087633 d:ShareCapital 2022-03-31 13087633 d:RevaluationReserve 2023-03-31 13087633 d:RevaluationReserve 2022-03-31 13087633 d:RetainedEarningsAccumulatedLosses 2023-03-31 13087633 d:RetainedEarningsAccumulatedLosses 2022-03-31 13087633 d:OtherDeferredTax 2023-03-31 13087633 d:OtherDeferredTax 2022-03-31 13087633 c:FRS102 2022-04-01 2023-03-31 13087633 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 13087633 c:FullAccounts 2022-04-01 2023-03-31 13087633 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 13087633 2 2022-04-01 2023-03-31 13087633 5 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 13087633










2WEEKS PROPERTIES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
2WEEKS PROPERTIES LIMITED
REGISTERED NUMBER: 13087633

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
-
170,000

  
-
170,000

Current assets
  

Debtors: amounts falling due within one year
 5 
207,308
886

  
207,308
886

Creditors: amounts falling due within one year
 6 
(127,427)
(47,753)

Net current assets/(liabilities)
  
 
 
79,881
 
 
(46,867)

Total assets less current liabilities
  
79,881
123,133

Creditors: amounts falling due after more than one year
 7 
-
(107,000)

Provisions for liabilities
  

Deferred tax
 9 
-
(2,831)

  
 
 
-
 
 
(2,831)

Net assets
  
79,881
13,302


Capital and reserves
  

Called up share capital 
  
2
2

Revaluation reserve
  
-
14,901

Profit and loss account
  
79,879
(1,601)

  
79,881
13,302


Page 1

 
2WEEKS PROPERTIES LIMITED
REGISTERED NUMBER: 13087633
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

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 income statement 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 by: 




Mr Paul Weeks
Director

Date: 3 November 2023

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

Page 2

 
2WEEKS PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

2Weeks Properties Limited is a private company limited by shares incorporated in England and Wales, registration number 13087633. The registered office is Newman Lodge, Bury Road, Alpheton, Sudbury, England, CO10 9BP.
The financial statements are presented in Sterling (£) and rounded to the nearest £.

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

Going concern

The Director has considered the Company's position at the time of signing the financial statements, and based on this, the Director has concluded that they have a reasonable expectation that the Company will have adequate resources to continue in operational existence for the forseeable future and the company will therefore continue to adopt the going concern basis of accounting in preparing these financial statements.

 
2.3

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.

 
2.4

Interest income

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

 
2.5

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.

Page 3

 
2WEEKS PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.6

Borrowing costs

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

 
2.7

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 reporting 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 reporting 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 reporting date.

 
2.8

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.9

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.

Page 4

 
2WEEKS PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.10

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.

 
2.11

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.

 
2.12

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 reporting 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 Statement of financial position.

 
2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees

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

Page 5

 
2WEEKS PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Investment property


Freehold investment property

£





At 1 April 2022
170,000


Disposals
(170,000)



At 31 March 2023
-

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




Page 6

 
2WEEKS PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Debtors

2023
2022
£
£


Other debtors
207,308
1

Prepayments and accrued income
-
885

207,308
886



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other loans
107,000
-

Trade creditors
778
-

Corporation tax
18,449
289

Other creditors
-
46,664

Accruals and deferred income
1,200
800

127,427
47,753



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other loans
-
107,000

-
107,000


Page 7

 
2WEEKS PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Other loans
107,000
-


107,000
-

Amounts falling due 1-2 years

Other loans
-
107,000


-
107,000



107,000
107,000



9.


Deferred taxation




2023


£






At beginning of year
(2,831)


Charged to profit or loss
2,831



At end of year
-

The deferred taxation balance is made up as follows:

2023
2022
£
£


Deferred tax on investment property
-
(2,831)

-
(2,831)

 
Page 8