Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-06-01falseNo description of principal activity33falsetrue 00816104 2022-06-01 2023-05-31 00816104 2021-06-01 2022-05-31 00816104 2023-05-31 00816104 2022-05-31 00816104 c:Director4 2022-06-01 2023-05-31 00816104 d:MotorVehicles 2022-06-01 2023-05-31 00816104 d:MotorVehicles 2023-05-31 00816104 d:MotorVehicles 2022-05-31 00816104 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 00816104 d:FurnitureFittings 2022-06-01 2023-05-31 00816104 d:FurnitureFittings 2023-05-31 00816104 d:FurnitureFittings 2022-05-31 00816104 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 00816104 d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 00816104 d:FreeholdInvestmentProperty 2023-05-31 00816104 d:FreeholdInvestmentProperty 2022-05-31 00816104 d:CurrentFinancialInstruments 2023-05-31 00816104 d:CurrentFinancialInstruments 2022-05-31 00816104 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 00816104 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 00816104 d:ShareCapital 2023-05-31 00816104 d:ShareCapital 2022-05-31 00816104 d:SharePremium 2023-05-31 00816104 d:SharePremium 2022-05-31 00816104 d:InvestmentPropertiesRevaluationReserve 2023-05-31 00816104 d:InvestmentPropertiesRevaluationReserve 2022-05-31 00816104 d:RetainedEarningsAccumulatedLosses 2023-05-31 00816104 d:RetainedEarningsAccumulatedLosses 2022-05-31 00816104 c:FRS102 2022-06-01 2023-05-31 00816104 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 00816104 c:FullAccounts 2022-06-01 2023-05-31 00816104 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 00816104 2 2022-06-01 2023-05-31 00816104 d:AcceleratedTaxDepreciationDeferredTax 2023-05-31 00816104 d:AcceleratedTaxDepreciationDeferredTax 2022-05-31 iso4217:GBP xbrli:pure

Registered number: 00816104










CLAIFE SECURITIES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2023

 
CLAIFE SECURITIES LIMITED
REGISTERED NUMBER:00816104

BALANCE SHEET
AS AT 31 MAY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,607
3,864

Investment property
 5 
4,279,000
4,279,000

  
4,281,607
4,282,864

Current assets
  

Debtors: amounts falling due within one year
 6 
37,322
25,388

Cash at bank and in hand
 7 
83,025
51,364

  
120,347
76,752

Creditors: amounts falling due within one year
 8 
(631,009)
(686,289)

Net current liabilities
  
 
 
(510,662)
 
 
(609,537)

Total assets less current liabilities
  
3,770,945
3,673,327

Provisions for liabilities
  

Deferred tax
 9 
(258,000)
(258,000)

  
 
 
(258,000)
 
 
(258,000)

Net assets
  
3,512,945
3,415,327


Capital and reserves
  

Called up share capital 
  
200
200

Share premium account
  
42,900
42,900

Investment property reserve
  
1,598,984
1,598,984

Profit and loss account
  
1,870,861
1,773,243

  
3,512,945
3,415,327


Page 1

 
CLAIFE SECURITIES LIMITED
REGISTERED NUMBER:00816104
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 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 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 on 22 February 2024.




C Hatton
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
CLAIFE SECURITIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.


General information

The Company is a private company limited by shares and is incorporated in England and Wales. The Company registration number is 00816104. Its registered office is Messing Park, Tiptree, Colchester, Essex, CO5 9TG.
The financial statements are presented in pound sterling which is the functional currency of the Company and rounded to the nearest pound.
The significant accounting policies applied in the presentation of these financial statements are set out below.

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

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:

Rendering of services

Revenue 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 revenue 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.

 
2.3

Interest income

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

Page 3

 
CLAIFE SECURITIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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:

Motor vehicles
-
25% reducing balance
Fixtures and 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 4

 
CLAIFE SECURITIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.6

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 the Statement of Comprehensive Iincome.

 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

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.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt
Page 5

 
CLAIFE SECURITIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)


2.11
Financial instruments (continued)

instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

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 comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a 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.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

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.


3.


Employees

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

Page 6

 
CLAIFE SECURITIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 June 2022
15,752
16,709
32,461



At 31 May 2023

15,752
16,709
32,461



Depreciation


At 1 June 2022
12,586
16,011
28,597


Charge for the year on owned assets
1,158
99
1,257



At 31 May 2023

13,744
16,110
29,854



Net book value



At 31 May 2023
2,008
599
2,607



At 31 May 2022
3,166
698
3,864


5.


Investment property


Freehold investment property

£



Valuation


At 1 June 2022
4,279,000



At 31 May 2023
4,279,000

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



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
2,422,016
2,422,016

Page 7

 
CLAIFE SECURITIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

6.


Debtors

2023
2022
£
£


Trade debtors
26,962
22,078

Other debtors
6,874
-

Prepayments and accrued income
3,486
3,310

37,322
25,388



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
83,025
51,364



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
16,416
22,145

Corporation tax
25,238
13,853

Other creditors
584,000
644,211

Accruals and deferred income
5,355
6,080

631,009
686,289



9.


Deferred taxation




2023


£






At beginning of year
258,000



At end of year
258,000

Page 8

 
CLAIFE SECURITIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
 
9.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Unrealised gain on freehold investment properties
258,000
258,000

 
Page 9