Caseware UK (AP4) 2022.0.179 2022.0.179 2022-09-282022-09-28true2022-01-01false11trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04887856 2022-01-01 2022-09-28 04887856 2021-01-01 2021-12-31 04887856 2022-09-28 04887856 2021-12-31 04887856 c:Director2 2022-01-01 2022-09-28 04887856 d:Buildings 2022-01-01 2022-09-28 04887856 d:Buildings 2022-09-28 04887856 d:Buildings 2021-12-31 04887856 d:Buildings d:OwnedOrFreeholdAssets 2022-01-01 2022-09-28 04887856 d:PlantMachinery 2022-01-01 2022-09-28 04887856 d:PlantMachinery 2022-09-28 04887856 d:PlantMachinery 2021-12-31 04887856 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-01-01 2022-09-28 04887856 d:FurnitureFittings 2022-01-01 2022-09-28 04887856 d:FurnitureFittings 2022-09-28 04887856 d:FurnitureFittings 2021-12-31 04887856 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-01-01 2022-09-28 04887856 d:OwnedOrFreeholdAssets 2022-01-01 2022-09-28 04887856 d:CurrentFinancialInstruments 2022-09-28 04887856 d:CurrentFinancialInstruments 2021-12-31 04887856 d:Non-currentFinancialInstruments 2022-09-28 04887856 d:Non-currentFinancialInstruments 2021-12-31 04887856 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-28 04887856 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 04887856 d:Non-currentFinancialInstruments d:AfterOneYear 2022-09-28 04887856 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 04887856 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-09-28 04887856 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-12-31 04887856 d:ShareCapital 2022-09-28 04887856 d:ShareCapital 2021-12-31 04887856 d:RevaluationReserve 2022-09-28 04887856 d:RevaluationReserve 2021-12-31 04887856 d:RetainedEarningsAccumulatedLosses 2022-09-28 04887856 d:RetainedEarningsAccumulatedLosses 2021-12-31 04887856 d:AcceleratedTaxDepreciationDeferredTax 2022-09-28 04887856 d:AcceleratedTaxDepreciationDeferredTax 2021-12-31 04887856 d:OtherDeferredTax 2022-09-28 04887856 d:OtherDeferredTax 2021-12-31 04887856 c:OrdinaryShareClass1 2022-01-01 2022-09-28 04887856 c:OrdinaryShareClass1 2022-09-28 04887856 c:OrdinaryShareClass1 2021-12-31 04887856 c:FRS102 2022-01-01 2022-09-28 04887856 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-09-28 04887856 c:FullAccounts 2022-01-01 2022-09-28 04887856 c:PrivateLimitedCompanyLtd 2022-01-01 2022-09-28 04887856 2 2022-01-01 2022-09-28 04887856 6 2022-01-01 2022-09-28 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 04887856









CARWORGIE LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 28 SEPTEMBER 2022

 
CARWORGIE LIMITED
REGISTERED NUMBER: 04887856

BALANCE SHEET
AS AT 28 SEPTEMBER 2022

28 September
31 December
2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
5,003,031
256,102

Investments
 5 
2,825,054
2,825,054

  
7,828,085
3,081,156

Current assets
  

Debtors: amounts falling due within one year
 6 
373
265

Cash at bank and in hand
  
53
84,993

  
426
85,258

Creditors: amounts falling due within one year
 7 
(2,000,001)
(1,851,925)

Net current liabilities
  
 
 
(1,999,575)
 
 
(1,766,667)

Total assets less current liabilities
  
5,828,510
1,314,489

Creditors: amounts falling due after more than one year
  
-
(713,550)

Provisions for liabilities
  

Deferred tax
  
(1,157,820)
(226)

  
 
 
(1,157,820)
 
 
(226)

Net assets
  
4,670,690
600,713


Capital and reserves
  

Called up share capital 
  
100
100

Revaluation reserve
  
3,589,915
-

Profit and loss account
  
1,080,675
600,613

  
4,670,690
600,713


Page 1

 
CARWORGIE LIMITED
REGISTERED NUMBER: 04887856

BALANCE SHEET (CONTINUED)
AS AT 28 SEPTEMBER 2022

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 period 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 by: 






................................................
Mr M Barney
Director

Date: 16 November 2023

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
CARWORGIE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 SEPTEMBER 2022

1.


General information

Carworgie Limited is a private company limited by shares incorporated in England and Wales within
the United Kingdom. The address of the registered office is 22 Chester Road, Sutton
Coldfield, England, B73 5DA. The principal activity of the Company continued to be that of the provision of management services.

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 Company's functional and presentational currency is Pounds sterling.
The level of rounding is to the nearest £.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Director has considered the going concern basis in preparing these financial statements. He has concluded that the going concern basis is appropriate because sufficient funds will be
generated from future trading and the parent and fellow subsidaries have confirmed they will provide continued support for a period of at least twelve months from the date of the approval of these financial statements to enable the company to meet its liabilities as they arise.
The financial statements do not include any adjustments that would result from the withdrawal of this support.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

Turnover is recognised on an accruals basis in the period to which it relates.

 
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

 
CARWORGIE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 SEPTEMBER 2022

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the period comprises corporation 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 corporation 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.

 
2.7

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.

Depreciation is provided on the following basis:

Freehold property
-
Not depreciated
Plant and machinery
-
20%
Reducing balance
Fixtures and fittings
-
20%
Reducing balance

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.

No depreciation has been provided on freehold property and site improvements as the property is maintained in such a state of repair that its residual value is at least equal to its net book value. As a result the corresponding depreciation would not be material, and therefore is not charged to the profit and loss account.

Page 4

 
CARWORGIE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 SEPTEMBER 2022

2.Accounting policies (continued)

 
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 balance sheet 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

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 Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.10

Debtors

Short-term debtors are measured at transaction price, 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

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.
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 income and retained earnings..


3.


Employees

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

Page 5

 
CARWORGIE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 SEPTEMBER 2022

4.


Tangible fixed assets







Freehold property
Plant and machinery
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 January 2022
252,500
81,087
1,407
334,994


Disposals
-
-
(1,407)
(1,407)


Revaluations
4,747,500
-
-
4,747,500



At 28 September 2022

5,000,000
81,087
-
5,081,087



Depreciation


At 1 January 2022
-
77,521
1,371
78,892


Charge for the period on owned assets
-
535
-
535


Disposals
-
-
(1,371)
(1,371)



At 28 September 2022

-
78,056
-
78,056



Net book value



At 28 September 2022
5,000,000
3,031
-
5,003,031



At 31 December 2021
252,500
3,566
36
256,102

Cost or valuation at 28 September 2022 is as follows:

Land and buildings
£


At cost
252,500
At valuation:

Director's valuation - 28 September 2022
4,747,500



5,000,000

Page 6

 
CARWORGIE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 SEPTEMBER 2022

           4.Tangible fixed assets (continued)

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

28 September
31 December
2022
2021
£
£



Cost
252,500
252,500

Net book value
252,500
252,500


5.


Fixed asset investments








Investments in subsidiary companies

£



Cost or valuation


At 1 January 2022
2,825,054



At 28 September 2022
2,825,054





6.


Debtors

28 September
31 December
2022
2021
£
£


Other debtors
373
149

Prepayments and accrued income
-
116

373
265


Page 7

 
CARWORGIE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 SEPTEMBER 2022

7.


Creditors: Amounts falling due within one year

28 September
31 December
2022
2021
£
£

Trade creditors
-
381

Amounts owed to group undertakings
1,997,502
-

Corporation tax
-
55

Other creditors
-
1,850,376

Accruals and deferred income
2,499
1,113

2,000,001
1,851,925



8.


Creditors: Amounts falling due after more than one year

28 September
31 December
2022
2021
£
£

Bank loans
-
713,550

-
713,550



9.


Loans


Analysis of the maturity of loans is given below:


28 September
31 December
2022
2021
£
£


Amounts falling due 1-2 years

Bank loans
-
713,550

-
713,550



-
713,550


Page 8

 
CARWORGIE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 SEPTEMBER 2022

10.


Deferred taxation






2022


£






At beginning of year
(226)


Charged to profit or loss
(9)


Charged to other comprehensive income
(1,157,585)



At end of year
(1,157,820)

The provision for deferred taxation is made up as follows:

28 September
31 December
2022
2021
£
£


Accelerated capital allowances
(235)
(226)

Revaluation of freehold property
(1,157,585)
-

(1,157,820)
(226)


11.


Share capital

28 September
31 December
2022
2021
£
£
Allotted, called up and fully paid



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



12.


Related party transactions

During the period ended 28 September 2022 the Company operated intercompany loans with its parent and fellow subsidaries. The net balance payable by the Company is £1,997,502 (2021 - £Nil).
At 28 September 2022 the Directors loan balance was £nil (2021 - £1,800,376 owed to the Director).
The Company received dividends during the period of £495,378 (2021 - £343,166) from its subsidiary company.

Page 9

 
CARWORGIE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 SEPTEMBER 2022

13.


Controlling party

The controlling party of the Company is Sherwood Country Parks Limited by virtue of its 100% shareholding in Carworgie Limited. 
The Ultimate Controlling Party is Mr M E Barney by virtue of a 100% controlling interest of Grandular Living Limited, the Ultimate Parent Company.


Page 10