Caseware UK (AP4) 2023.0.135 2023.0.135 2023-03-302023-03-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.662022-04-01falseNo description of principal activityfalsetrue 00775921 2022-04-01 2023-03-30 00775921 2021-04-01 2022-03-31 00775921 2023-03-30 00775921 2022-03-31 00775921 c:Director1 2022-04-01 2023-03-30 00775921 d:Buildings 2022-04-01 2023-03-30 00775921 d:Buildings 2023-03-30 00775921 d:Buildings 2022-03-31 00775921 d:Buildings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-30 00775921 d:LandBuildings 2023-03-30 00775921 d:LandBuildings 2022-03-31 00775921 d:PlantMachinery 2022-04-01 2023-03-30 00775921 d:PlantMachinery 2023-03-30 00775921 d:PlantMachinery 2022-03-31 00775921 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-30 00775921 d:FurnitureFittings 2022-04-01 2023-03-30 00775921 d:FurnitureFittings 2023-03-30 00775921 d:FurnitureFittings 2022-03-31 00775921 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-30 00775921 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-30 00775921 d:PatentsTrademarksLicencesConcessionsSimilar 2023-03-30 00775921 d:PatentsTrademarksLicencesConcessionsSimilar 2022-03-31 00775921 d:FreeholdInvestmentProperty 2023-03-30 00775921 d:FreeholdInvestmentProperty 2022-03-31 00775921 d:CurrentFinancialInstruments 2023-03-30 00775921 d:CurrentFinancialInstruments 2022-03-31 00775921 d:Non-currentFinancialInstruments 2023-03-30 00775921 d:Non-currentFinancialInstruments 2022-03-31 00775921 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-30 00775921 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 00775921 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-30 00775921 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 00775921 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-30 00775921 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 00775921 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-30 00775921 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 00775921 d:ShareCapital 2023-03-30 00775921 d:ShareCapital 2022-03-31 00775921 d:RevaluationReserve 2022-04-01 2023-03-30 00775921 d:RevaluationReserve 2023-03-30 00775921 d:RevaluationReserve 2022-03-31 00775921 d:InvestmentPropertiesRevaluationReserve 2022-04-01 2023-03-30 00775921 d:InvestmentPropertiesRevaluationReserve 2023-03-30 00775921 d:InvestmentPropertiesRevaluationReserve 2022-03-31 00775921 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-30 00775921 d:RetainedEarningsAccumulatedLosses 2023-03-30 00775921 d:RetainedEarningsAccumulatedLosses 2022-03-31 00775921 c:FRS102 2022-04-01 2023-03-30 00775921 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-30 00775921 c:FullAccounts 2022-04-01 2023-03-30 00775921 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-30 00775921 d:HirePurchaseContracts d:WithinOneYear 2023-03-30 00775921 d:HirePurchaseContracts d:WithinOneYear 2022-03-31 00775921 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-03-30 00775921 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-03-31 00775921 2 2022-04-01 2023-03-30 00775921 5 2022-04-01 2023-03-30 00775921 6 2022-04-01 2023-03-30 00775921 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-03-30 00775921 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-03-31 00775921 d:LeasedAssetsHeldAsLessee 2023-03-30 00775921 d:LeasedAssetsHeldAsLessee 2022-03-31 00775921 e:PoundSterling 2022-04-01 2023-03-30 iso4217:GBP xbrli:pure

Registered number: 00775921










J R COZENS WILEY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 MARCH 2023

 
J R COZENS WILEY LIMITED
REGISTERED NUMBER:00775921

STATEMENT OF FINANCIAL POSITION
AS AT 30 MARCH 2023

30 March
31 March
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
1,713,270
1,755,172

Investments
 6 
50
50

Investment property
 7 
225,000
225,000

  
1,938,320
1,980,222

Current assets
  

Stocks
  
2,621,248
3,071,497

Debtors: amounts falling due within one year
 8 
111,989
134,503

Cash at bank and in hand
  
35,256
43,879

  
2,768,493
3,249,879

Creditors: amounts falling due within one year
 9 
(5,737,188)
(5,337,734)

Net current liabilities
  
 
 
(2,968,695)
 
 
(2,087,855)

Total assets less current liabilities
  
(1,030,375)
(107,633)

Creditors: amounts falling due after more than one year
 10 
(562,748)
(640,961)

  

Net liabilities
  
(1,593,123)
(748,594)


Capital and reserves
  

Called up share capital 
  
10,000
10,000

Revaluation reserve
 13 
679,321
679,321

Investment property reserve
 13 
112,500
112,500

Profit and loss account
 13 
(2,394,944)
(1,550,415)

  
(1,593,123)
(748,594)


Page 1

 
J R COZENS WILEY LIMITED
REGISTERED NUMBER:00775921
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 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 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 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 on 8 March 2024.




Mr E J Cozens Wiley
Director

The notes on pages 3 to 13 form part of these financial statements.

Page 2

 
J R COZENS WILEY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 MARCH 2023

1.


General information

J R Cozens Wiley Limited is a private company limited by shares and incorporated in England and Wales, registration number 00775921. The registered office is Octagon Offices, Manor Farm, Broad Lane, Little Plumstead, Norwich, Norfolk, NR13 5EL.

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 presented in sterling which is the functional currency of the company and rounded to the nearest £. 
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

 
2.2

Going concern

Notwithstanding the deficit of shareholders' funds, the directors consider that the company will continue in operational existence for the foreseeable future, with their support and that of a third party lender. They consider it appropriate for the accounts to continue being prepared on a going concern basis. The director's have considered a period of twelve months from the date of approval of the financial statements. The directors believe that no further disclosures relating to the company's ability to continue as a going concern need to be made in the financial statements.

 
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. The following criteria must also be met before turnover is recognised:

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

Interest income

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

Page 3

 
J R COZENS WILEY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 MARCH 2023

2.Accounting policies (continued)

 
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.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.7

Pensions

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. One the contributions have ben paid the Company has no further payment obligations.

 
2.8

Taxation

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.

 
2.9

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.

 
2.10

Tangible fixed assets

Freehold property is held under the fair value method and is stated at its fair value at the reporting date. At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

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

 
J R COZENS WILEY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 MARCH 2023

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using both the straight line and reducing balance methods.

Depreciation is provided on the following basis:

Plant & machinery
-
10-25% reducing balance / 2.5% straight line

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.

 
2.11

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 reporting 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.

 
2.12

Investment property

Investment property is carried at fair value determined annually by the director 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 Income statement.

 
2.13

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Page 5

 
J R COZENS WILEY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 MARCH 2023

2.Accounting policies (continued)

 
2.14

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 first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting 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.

 
2.15

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.

 
2.16

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.

 
2.17

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.

 
2.18

Financial instruments

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
Page 6

 
J R COZENS WILEY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 MARCH 2023

2.Accounting policies (continued)


2.18
Financial instruments (continued)

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.


3.


Employees

The average monthly number of employees, including directors, during the period was 6 (2022 - 6).


4.


Intangible assets






BPS Entitlements

£



Cost


At 1 April 2022
1,397



At 30 March 2023

1,397



Amortisation


At 1 April 2022
1,397



At 30 March 2023

1,397



Net book value



At 30 March 2023
-



At 31 March 2022
-



Page 7

 
J R COZENS WILEY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 MARCH 2023

5.


Tangible fixed assets







Freehold property
Plant & machinery
Octagon development
Total

£
£
£
£



Cost or valuation


At 1 April 2022
813,541
1,487,770
750,000
3,051,311


Additions
-
13,688
-
13,688



At 30 March 2023

813,541
1,501,458
750,000
3,064,999



Depreciation


At 1 April 2022
142,287
1,153,852
-
1,296,139


Charge for the period on owned assets
-
55,590
-
55,590



At 30 March 2023

142,287
1,209,442
-
1,351,729



Net book value



At 30 March 2023
671,254
292,016
750,000
1,713,270



At 31 March 2022
671,254
333,918
750,000
1,755,172

The 2023 valuations were made by Mr E J Cozens Wiley, on an open market value for existing use basis.




The net book value of land and buildings may be further analysed as follows:


30 March
31 March
2023
2022
£
£

Freehold
671,254
671,254

671,254
671,254


The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


30 March
31 March
2023
2022
£
£



Plant and machinery
29,984
39,979

29,984
39,979

Page 8

 
J R COZENS WILEY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 MARCH 2023
Cost or valuation at 30 March 2023 is as follows:

Land and buildings
£


At cost
-
At valuation:

31 March 2020
813,541



813,541

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

30 March
As restated
31 March
2023
2022
£
£



Cost
543,734
543,734

Accumulated depreciation
(142,287)
(142,287)

Net book value
401,447
401,447


6.


Fixed asset investments








Unlisted investments

£



Cost or valuation


At 1 April 2022
50



At 30 March 2023
50




Page 9

 
J R COZENS WILEY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 MARCH 2023

7.


Investment property





Freehold investment property

£



Valuation


At 1 April 2022
225,000



At 30 March 2023
225,000

The 2023 valuations were made by Mr E J Cozens Wiley, on an open market value for existing use basis.




Page 10

 
J R COZENS WILEY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 MARCH 2023

8.


Debtors

30 March
31 March
2023
2022
£
£


Trade debtors
50,422
52,809

Other debtors
57,986
80,437

Prepayments and accrued income
3,581
1,257

111,989
134,503



9.


Creditors: Amounts falling due within one year

30 March
31 March
2023
2022
£
£

Bank loans
10,000
10,000

Other loans
5,569,862
5,159,585

Trade creditors
83,039
131,603

Other taxation and social security
-
2,219

Obligations under finance lease and hire purchase contracts
8,333
8,333

Other creditors
1,140
1,783

Accruals and deferred income
64,814
24,211

5,737,188
5,337,734


Secured loans
The commercial mortgage and other loans are secured by way of a legal charge over land at Little Plumstead, Norwich, NR13 5FH and NR13 5EL.


10.


Creditors: Amounts falling due after more than one year

30 March
31 March
2023
2022
£
£

Bank loans
23,158
32,840

Net obligations under finance leases and hire purchase contracts
278
8,611

Other creditors
539,312
599,510

562,748
640,961


Page 11

 
J R COZENS WILEY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 MARCH 2023

11.


Loans


Analysis of the maturity of loans is given below:


30 March
31 March
2023
2022
£
£

Amounts falling due within one year

Bank loans
10,000
10,000

Other loans
5,569,862
5,159,585


5,579,862
5,169,585

Amounts falling due 1-2 years

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 2-5 years

Bank loans
13,158
22,840


13,158
22,840


5,603,020
5,202,425



12.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

30 March
31 March
2023
2022
£
£


Within one year
8,333
8,333

Between 1-5 years
278
8,611

8,611
16,944

Page 12

 
J R COZENS WILEY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 MARCH 2023

13.


Reserves

Revaluation reserve

The revaluation reserve includes all current and prior period revaluations on freehold property including the Octagon development where the fair value of an asset exceeded its original cost.

Investment property revaluation reserve

The investment property revaluation reserve includes all current and prior period revaluations on investment properties where the fair value of an asset exceeded its original cost.

Profit & loss account

The profit and loss account includes all current and prior period retained profit and losses. 


14.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £3,557 (2022: £4,638).


15.


Related party transactions

The company owes the directors £539,312 (2022: £599,509) at the year end. Interest is payable on this loan at the discretion of the directors at 2% above bank base rate.

Page 13