Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31truetrue2022-04-01falseNo description of principal activity22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09394400 2022-04-01 2023-03-31 09394400 2021-04-01 2022-03-31 09394400 2023-03-31 09394400 2022-03-31 09394400 c:Director1 2022-04-01 2023-03-31 09394400 c:Director2 2022-04-01 2023-03-31 09394400 c:RegisteredOffice 2022-04-01 2023-03-31 09394400 d:FurnitureFittings 2022-04-01 2023-03-31 09394400 d:FurnitureFittings 2023-03-31 09394400 d:FurnitureFittings 2022-03-31 09394400 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 09394400 d:FreeholdInvestmentProperty 2023-03-31 09394400 d:FreeholdInvestmentProperty 2022-03-31 09394400 d:CurrentFinancialInstruments 2023-03-31 09394400 d:CurrentFinancialInstruments 2022-03-31 09394400 d:Non-currentFinancialInstruments 2023-03-31 09394400 d:Non-currentFinancialInstruments 2022-03-31 09394400 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09394400 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 09394400 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 09394400 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 09394400 d:ShareCapital 2023-03-31 09394400 d:ShareCapital 2022-03-31 09394400 d:RevaluationReserve 2023-03-31 09394400 d:RevaluationReserve 2022-03-31 09394400 d:RetainedEarningsAccumulatedLosses 2023-03-31 09394400 d:RetainedEarningsAccumulatedLosses 2022-03-31 09394400 c:OrdinaryShareClass1 2022-04-01 2023-03-31 09394400 c:OrdinaryShareClass1 2023-03-31 09394400 c:OrdinaryShareClass1 2022-03-31 09394400 c:FRS102 2022-04-01 2023-03-31 09394400 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 09394400 c:FullAccounts 2022-04-01 2023-03-31 09394400 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 iso4217:GBP xbrli:shares xbrli:pure


Registered number: 09394400












6 CHEYNE TERRACE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

 

6 CHEYNE TERRACE LIMITED

CONTENTS



Page
Company information
 
1
Balance sheet
 
2 - 3
Notes to the financial statements
 
4 - 10


 

6 CHEYNE TERRACE LIMITED
 
COMPANY INFORMATION


Directors
N G Cooper 
P J Cooper 




Registered number
09394400



Registered office
16 Great Queen Street
Covent Garden

London

WC2B 5AH




Accountants
Blick Rothenberg Limited
Chartered Accountants

16 Great Queen Street

Covent Garden

London

WC2B 5AH




Page 1


 
REGISTERED NUMBER:09394400
6 CHEYNE TERRACE LIMITED

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
5,450
6,412

Fixed asset investments
 5 
28,669
35,669

Investment property
 6 
6,500,000
6,500,000

  
6,534,119
6,542,081

Current assets
  

Debtors: amounts falling due within one year
 7 
158,122
193,916

Cash at bank and in hand
  
155,125
1,183,042

  
313,247
1,376,958

Creditors: amounts falling due within one year
 8 
(1,815,038)
(3,014,248)

Net current liabilities
  
 
 
(1,501,791)
 
 
(1,637,290)

Total assets less current liabilities
  
5,032,328
4,904,791

Creditors: amounts falling due after more than one year
 9 
(2,750,000)
(2,744,568)

Provisions for liabilities
  

Deferred tax
  
(201,584)
(201,584)

  
 
 
(201,584)
 
 
(201,584)

Net assets
  
2,080,744
1,958,639


Capital and reserves
  

Called up share capital 
 10 
100
100

Revaluation reserve
  
1,270,098
1,270,098

Profit and loss account
  
810,546
688,441

Total equity
  
2,080,744
1,958,639


Page 2


 
REGISTERED NUMBER:09394400
6 CHEYNE TERRACE LIMITED
    
BALANCE SHEET (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 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 by: 




N G Cooper
Director

Date: 24 October 2023

The notes on pages 4 to 10 form part of these financial statements.

Page 3

 

6 CHEYNE TERRACE LIMITED

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

1.


General information

6 Cheyne Terrace Limited is a private company limited by shares incorporated in England and Wales. The address of its registered office is 16 Great Queen Street, Covent Garden, London, WC2B 5AH.
The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are 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

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

 
2.3

Turnover

Turnover represents rents receivable. Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

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

 

6 CHEYNE TERRACE LIMITED

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

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

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 and fittings
-
15%
reducing balance method

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.

 
2.5

Investment property

Investment property is carried at fair value determined annually by the directors 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

Fixed asset investments

Fixed asset investments are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

Page 5

 

6 CHEYNE TERRACE LIMITED

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

2.Accounting policies (continued)

  
2.7

Financial instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
The company’s policies for its major classes of financial assets and financial liabilities are set out below. 
Financial assets
Basic financial assets, including cash and bank balances, are recognised at transaction price.
Financial liabilities
Basic financial liabilities, including other creditors, bank loans and loans from connected companies are initially recognised at transaction price.
Impairment of financial assets
Financial assets 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 profit and loss account. 
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 
For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. 
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. 

 
Page 6

 

6 CHEYNE TERRACE LIMITED

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

2.Accounting policies (continued)

Offsetting of financial assets and financial liabilities
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

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

  
2.9

Share capital

Ordinary shares are classified as equity.

 
2.10

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 -2).

Page 7

 

6 CHEYNE TERRACE LIMITED

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

4.


Tangible fixed assets





Fixtures and fittings

£



Cost


At 1 April 2022
20,000



At 31 March 2023

20,000



Depreciation


At 1 April 2022
13,588


Charge for the year
962



At 31 March 2023

14,550



Net book value



At 31 March 2023
5,450



At 31 March 2022
6,412


5.


Fixed asset investments





Unlisted investments

£



Cost


At 1 April 2022
35,669


Disposals
(7,000)



At 31 March 2023
28,669

Page 8

 

6 CHEYNE TERRACE LIMITED

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

6.


Investment property


Freehold investment property

£



Valuation


At 1 April 2022
6,500,000



At 31 March 2023
6,500,000

In the opinion of the directors, the investment property is valued in the financial statements at its open market value as of 31st March 2023.
A deferred taxation liability for tax payable in the event of the sale of the property of £201,584 (2022 - £201,584) is included in the balance sheet.

The company's loan against this property is secured at a standard variable interest rate.





7.


Debtors

2023
2022
£
£


Trade debtors
2,000
2,000

Other debtors
141,916
141,916

Prepayments and accrued income
14,206
50,000

158,122
193,916



8.


Creditors: amounts falling due within one year

2023
2022
£
£

Corporation tax
28,868
24,878

Other creditors
1,781,170
2,985,170

Accruals and deferred income
5,000
4,200

1,815,038
3,014,248


Page 9

 

6 CHEYNE TERRACE LIMITED

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

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other creditors
2,750,000
2,744,568



10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 -100) Ordinary shares of £1.00 each
100
100



11.


Related party transactions

Within other debtors is an amount of £116,416 (2022 - £116,416) payable by a company under common control.
Within other creditors after more than one year is an amount of £1,755,670 (2022 - £2,959,670) payable to a director of the company. The loan is provided interest free and is unsecured. There are no formal terms and conditions regarding the repayment of the loan.

 
Page 10