Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-282022-03-01falseNo description of principal activity33falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00650817 2022-03-01 2023-02-28 00650817 2021-03-01 2022-02-28 00650817 2023-02-28 00650817 2022-02-28 00650817 c:Director3 2022-03-01 2023-02-28 00650817 d:FurnitureFittings 2022-03-01 2023-02-28 00650817 d:FurnitureFittings 2023-02-28 00650817 d:FurnitureFittings 2022-02-28 00650817 d:FreeholdInvestmentProperty 2023-02-28 00650817 d:FreeholdInvestmentProperty 2022-02-28 00650817 d:FreeholdInvestmentProperty 4 2022-03-01 2023-02-28 00650817 d:CurrentFinancialInstruments 2023-02-28 00650817 d:CurrentFinancialInstruments 2022-02-28 00650817 d:Non-currentFinancialInstruments 2023-02-28 00650817 d:Non-currentFinancialInstruments 2022-02-28 00650817 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 00650817 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 00650817 d:ShareCapital 2023-02-28 00650817 d:ShareCapital 2022-02-28 00650817 d:RevaluationReserve 2023-02-28 00650817 d:RevaluationReserve 2022-02-28 00650817 d:RetainedEarningsAccumulatedLosses 2023-02-28 00650817 d:RetainedEarningsAccumulatedLosses 2022-02-28 00650817 c:FRS102 2022-03-01 2023-02-28 00650817 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 00650817 c:FullAccounts 2022-03-01 2023-02-28 00650817 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 00650817 2 2022-03-01 2023-02-28 00650817 5 2022-03-01 2023-02-28 00650817 d:OtherDeferredTax 2023-02-28 00650817 d:OtherDeferredTax 2022-02-28 iso4217:GBP xbrli:pure

Registered number: 00650817









EAST ANGLIAN FACILITIES (ROMFORD) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2023

 
EAST ANGLIAN FACILITIES (ROMFORD) LIMITED
REGISTERED NUMBER: 00650817

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
13

Investment property
 5 
-
7,661,569

  
-
7,661,582

Current assets
  

Stocks
 6 
-
280,000

Debtors
 7 
1,828,237
4,033,606

Cash at bank and in hand
 8 
4,087,641
77,504

  
5,915,878
4,391,110

Creditors: amounts falling due within one year
 9 
(484,031)
(1,442,670)

Net current assets
  
 
 
5,431,847
 
 
2,948,440

Total assets less current liabilities
  
5,431,847
10,610,022

Provisions for liabilities
  

Deferred tax
 10 
-
(1,277,296)

  
 
 
-
 
 
(1,277,296)

Net assets
  
5,431,847
9,332,726


Capital and reserves
  

Called up share capital 
  
500
500

Revaluation reserve
  
-
5,212,018

Profit and loss account
  
5,431,347
4,120,208

  
5,431,847
9,332,726

Page 1

 
EAST ANGLIAN FACILITIES (ROMFORD) LIMITED
REGISTERED NUMBER: 00650817
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 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 profit and loss account 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 28 November 2023.




C M Iszatt
Director

The notes on pages 3 to 11 form part of these financial statements.
Page 2

 
EAST ANGLIAN FACILITIES (ROMFORD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

East Anglian Facilities (Romford) Limited is a private company limited by shares and incorporated in England. Its registered office is 3-7 The Parade, Gallows Corner, Romford, Essex, RM3 0DB.

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 financial statements are prepared in pounds sterling which is the functional currency of the company and rounded to the nearest £.
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:

 
2.3

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:

Fixtures & Fittings
-
25%
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.

Page 3

 
EAST ANGLIAN FACILITIES (ROMFORD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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.

 
2.6

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.

 
2.7

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.
Page 4

 
EAST ANGLIAN FACILITIES (ROMFORD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.8

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.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

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.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument 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.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
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

 
EAST ANGLIAN FACILITIES (ROMFORD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.10

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.

 
2.11

Pensions

Defined contribution pension plan
The Company operates a defined contribution plan for its  employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a seperate entity. Once the 
contributions have been paid the company has no further payment obligations.
The contributions are recognised as an expense in the statment of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held seperately from the company in independently administered funds.

 
2.12

Interest income

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

 
2.13

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.

 
2.14

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.

Page 6

 
EAST ANGLIAN FACILITIES (ROMFORD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.15

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.

 
2.16

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).

Page 7

 
EAST ANGLIAN FACILITIES (ROMFORD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

4.


Tangible fixed assets





Fixtures & Fittings

£





At 1 March 2022
13,547


Transfers intra group
(13,547)



At 28 February 2023

-





At 1 March 2022
13,534


Transfers intra group
(13,534)



At 28 February 2023

-



Net book value



At 28 February 2023
-



At 28 February 2022
13


5.


Investment property


Freehold investment property

£





At 1 March 2022
7,661,569


Transfers intra group
(7,661,569)



At 28 February 2023
-

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






Page 8

 
EAST ANGLIAN FACILITIES (ROMFORD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

6.


Stocks

2023
2022
£
£

Finished goods and goods for resale
-
280,000

-
280,000


Page 9

 
EAST ANGLIAN FACILITIES (ROMFORD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

7.


Debtors


2023
2022
£
£

Due after more than one year

Other debtors
143,667
-

143,667
-

Due within one year

Amounts owed by group undertakings
903,779
925,181

Amounts owed by joint ventures and associated undertakings
699,228
3,046,895

Other debtors
81,563
57,523

Prepayments and accrued income
-
4,007

1,828,237
4,033,606



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
4,087,641
77,504

4,087,641
77,504



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to associates
-
9,500

Corporation tax
478,404
98,380

Other taxation and social security
-
39,553

Other creditors
-
1,226,029

Accruals and deferred income
5,627
69,208

484,031
1,442,670


Page 10

 
EAST ANGLIAN FACILITIES (ROMFORD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

10.


Deferred taxation




2023


£






At beginning of year
(1,277,296)


Utilised in year
1,277,296



At end of year
-

The deferred taxation balance is made up as follows:

2023
2022
£
£


Revaluation of investments
-
(1,277,296)

-
(1,277,296)


11.


Related party transactions

At the year-end the following amounts were due from/(to) the related parties:


2023
2022
£
£

Key management personnel
-
(1,140,369)
Entities under common control
903,779
925,181
903,779
(215,188)


12.


Controlling party

The ultimate controlling parties were C Iszatt and T Iszatt for the year by virtue of their ownership of the Parent Company East Anglian Facilities Developments Ltd.
 
Page 11