Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-30falseNo description of principal activityThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-07-012627falsetrue 05144110 2022-07-01 2023-06-30 05144110 2021-07-01 2022-06-30 05144110 2023-06-30 05144110 2022-06-30 05144110 c:Director1 2022-07-01 2023-06-30 05144110 d:Buildings d:ShortLeaseholdAssets 2022-07-01 2023-06-30 05144110 d:Buildings d:ShortLeaseholdAssets 2023-06-30 05144110 d:Buildings d:ShortLeaseholdAssets 2022-06-30 05144110 d:PlantMachinery 2022-07-01 2023-06-30 05144110 d:PlantMachinery 2023-06-30 05144110 d:PlantMachinery 2022-06-30 05144110 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 05144110 d:MotorVehicles 2022-07-01 2023-06-30 05144110 d:MotorVehicles 2023-06-30 05144110 d:MotorVehicles 2022-06-30 05144110 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 05144110 d:FurnitureFittings 2022-07-01 2023-06-30 05144110 d:FurnitureFittings 2023-06-30 05144110 d:FurnitureFittings 2022-06-30 05144110 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 05144110 d:ComputerEquipment 2022-07-01 2023-06-30 05144110 d:ComputerEquipment 2023-06-30 05144110 d:ComputerEquipment 2022-06-30 05144110 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 05144110 d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 05144110 d:Goodwill 2022-07-01 2023-06-30 05144110 d:Goodwill 2023-06-30 05144110 d:Goodwill 2022-06-30 05144110 d:CurrentFinancialInstruments 2023-06-30 05144110 d:CurrentFinancialInstruments 2022-06-30 05144110 d:Non-currentFinancialInstruments 2023-06-30 05144110 d:Non-currentFinancialInstruments 2022-06-30 05144110 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 05144110 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 05144110 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 05144110 d:Non-currentFinancialInstruments d:AfterOneYear 2022-06-30 05144110 d:ShareCapital 2023-06-30 05144110 d:ShareCapital 2022-06-30 05144110 d:RetainedEarningsAccumulatedLosses 2023-06-30 05144110 d:RetainedEarningsAccumulatedLosses 2022-06-30 05144110 c:OrdinaryShareClass1 2022-07-01 2023-06-30 05144110 c:OrdinaryShareClass1 2023-06-30 05144110 c:OrdinaryShareClass1 2022-06-30 05144110 c:FRS102 2022-07-01 2023-06-30 05144110 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 05144110 c:FullAccounts 2022-07-01 2023-06-30 05144110 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 05144110 d:Goodwill d:ExternallyAcquiredIntangibleAssets 2022-07-01 2023-06-30 05144110 2 2022-07-01 2023-06-30 05144110 6 2022-07-01 2023-06-30 05144110 d:Goodwill d:OwnedIntangibleAssets 2022-07-01 2023-06-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 05144110
















THE BRISTOL RESIDENTIAL LETTING COMPANY LIMITED


UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2023

































THE BRISTOL RESIDENTIAL LETTING COMPANY LIMITED
REGISTERED NUMBER:05144110

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
1,271,531
707,555

Tangible assets
 5 
257,906
94,056

Investments
 6 
800
1,000

  
1,530,237
802,611

Current assets
  

Debtors
 7 
35,117
32,588

Cash at bank and in hand
  
376,327
536,398

  
411,444
568,986

Creditors: amounts falling due within one year
 8 
(683,407)
(308,558)

Net current (liabilities)/assets
  
 
 
(271,963)
 
 
260,428

Total assets less current liabilities
  
1,258,274
1,063,039

Creditors: amounts falling due after more than one year
 9 
(27,487)
(36,425)

Provisions for liabilities
  

Deferred tax
  
(34,124)
(21,889)

  
 
 
(34,124)
 
 
(21,889)

Net assets
  
1,196,663
1,004,725


Capital and reserves
  

Called up share capital 
 10 
1,000
1,000

Profit and loss account
  
1,195,663
1,003,725

  
1,196,663
1,004,725


Page 1


THE BRISTOL RESIDENTIAL LETTING COMPANY LIMITED
REGISTERED NUMBER:05144110
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 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 statement of income and retained earnings 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 E R Osborn
Director

Date: 4 December 2023

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

Page 2


THE BRISTOL RESIDENTIAL LETTING COMPANY LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


GENERAL INFORMATION

The Bristol Residential Letting Company Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 19 Clifton Down Shopping Centre, Whiteladies Road, Bristol, BS8 2NN, United Kingdom.

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 directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

 
2.3

REVENUE

- 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. - 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 turnover is recognised:

Rendering of services

- 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

OPERATING LEASES: THE COMPANY AS LESSEE

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 3


THE BRISTOL RESIDENTIAL LETTING COMPANY LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.ACCOUNTING POLICIES (continued)

 
2.5

GOVERNMENT GRANTS

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.6

INTEREST INCOME

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

 
2.7

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.

 
2.8

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 separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

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.

Page 4


THE BRISTOL RESIDENTIAL LETTING COMPANY LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.ACCOUNTING POLICIES (continued)

 
2.10

INTANGIBLE ASSETS

GOODWILL

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

OTHER INTANGIBLE ASSETS

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Goodwill
-
10
years

 
2.11

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, using the straight-line method.

Depreciation is provided on the following basis:

Short-term leasehold property
-
10%
straight line basis
Plant and machinery
-
25%
straight line basis
Motor vehicles
-
25%
straight line basis
Fixtures and fittings
-
25%
straight line basis
Computer equipment
-
20%
to 33.3% straight line basis

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 5


THE BRISTOL RESIDENTIAL LETTING COMPANY LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.ACCOUNTING POLICIES (continued)

 
2.12

IMPAIRMENT OF FIXED ASSETS AND GOODWILL

Assets that are subject to depreciation or amortisation are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.13

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.14

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.

 
2.15

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.

 
2.16

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.

 
2.17

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.

 
2.18

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.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Page 6


THE BRISTOL RESIDENTIAL LETTING COMPANY LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.ACCOUNTING POLICIES (continued)


2.18
FINANCIAL INSTRUMENTS (CONTINUED)

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

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.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

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.

Page 7


THE BRISTOL RESIDENTIAL LETTING COMPANY LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.ACCOUNTING POLICIES (continued)

 
2.19

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.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 26 (2022:27).


4.


INTANGIBLE ASSETS




Goodwill

£



COST


At 1 July 2022
1,144,999


Additions
673,571



At 30 June 2023

1,818,570



AMORTISATION


At 1 July 2022
437,444


Charge for the year on owned assets
109,595



At 30 June 2023

547,039



NET BOOK VALUE



At 30 June 2023
1,271,531



At 30 June 2022
707,555



Page 8


THE BRISTOL RESIDENTIAL LETTING COMPANY LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

5.


TANGIBLE FIXED ASSETS





Short-term leasehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£
£



COST OR VALUATION


At 1 July 2022
88,675
69,384
7,995
70,853
33,060
269,967


Additions
-
16,843
24,995
172,924
-
214,762



At 30 June 2023

88,675
86,227
32,990
243,777
33,060
484,729



DEPRECIATION


At 1 July 2022
86,903
43,204
5,413
20,884
19,507
175,911


Charge for the year on owned assets
581
12,330
5,435
26,389
6,177
50,912



At 30 June 2023

87,484
55,534
10,848
47,273
25,684
226,823



NET BOOK VALUE



At 30 June 2023
1,191
30,693
22,142
196,504
7,376
257,906



At 30 June 2022
1,772
26,180
2,582
49,969
13,553
94,056

Page 9


THE BRISTOL RESIDENTIAL LETTING COMPANY LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

6.


FIXED ASSET INVESTMENTS





Investments in subsidiary companies

£



COST OR VALUATION


At 1 July 2022
1,000


Additions
674,371


Disposals
(1,000)


Transfer to goodwill on hive up
(673,571)



At 30 June 2023
800




During the year, the company fully disposed of its investment in Hydes Letting & Management Limited as the company was dissolved and acquired 100% of the issued share capital in AM Lettings (Bristol) Holdings Limited. The goodwill acquired was subsequently hived up on 31 May 2023.


7.


DEBTORS

2023
2022
£
£



Trade debtors
25,410
23,076

Other debtors
195
-

Prepayments and accrued income
9,512
9,512

35,117
32,588



8.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Bank loans
9,188
10,241

Trade creditors
14,589
12,401

Amounts owed to directors
176,944
2,790

Corporation tax
133,120
112,838

Other taxation and social security
92,272
103,110

Other creditors
249,019
58,226

Accruals and deferred income
8,275
8,952

683,407
308,558


Page 10


THE BRISTOL RESIDENTIAL LETTING COMPANY LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

9.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023
2022
£
£

Bank loans
27,487
36,425

27,487
36,425



10.


SHARE CAPITAL

2023
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



1,000 (2022:1,000) Ordinary shares of £1.00 each
1,000
1,000



11.


PENSION COMMITMENTS

The Company operates a defined contribution pensio scheme for the directors and employees. The assets of the scheme are help seperately from those of the Company in an independantly administered fund. Unpaid contributions due to the fund (inc. in other creditors) at the year end was £16,094 (2022: £12,377).


12.


RELATED PARTY TRANSACTIONS

At 30 June 2023 an amount of £176,944 (2022: £2,790) was due to the directors. This amount is interest free with no fixed date for repayment.
Dividends of £250,000 (2022: £250,000) were paid to the directors during the year.

 
Page 11