Caseware UK (AP4) 2022.0.179 2022.0.179 2023-08-312023-08-31true32022-09-01false3trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10276955 2022-09-01 2023-08-31 10276955 2021-09-01 2022-08-31 10276955 2023-08-31 10276955 2022-08-31 10276955 c:Director2 2022-09-01 2023-08-31 10276955 d:CurrentFinancialInstruments 2023-08-31 10276955 d:CurrentFinancialInstruments 2022-08-31 10276955 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 10276955 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 10276955 d:ShareCapital 2023-08-31 10276955 d:ShareCapital 2022-08-31 10276955 d:RetainedEarningsAccumulatedLosses 2023-08-31 10276955 d:RetainedEarningsAccumulatedLosses 2022-08-31 10276955 c:OrdinaryShareClass1 2022-09-01 2023-08-31 10276955 c:OrdinaryShareClass1 2023-08-31 10276955 c:OrdinaryShareClass1 2022-08-31 10276955 c:EntityNoLongerTradingButTradedInPast 2022-09-01 2023-08-31 10276955 c:FRS102 2022-09-01 2023-08-31 10276955 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 10276955 c:FullAccounts 2022-09-01 2023-08-31 10276955 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 10276955 e:PoundSterling 2022-09-01 2023-08-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 10276955









LOGAN HOMES (WICKHAMBROOK) LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2023

 
LOGAN HOMES (WICKHAMBROOK) LIMITED
REGISTERED NUMBER: 10276955

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
-
247,738

Cash at bank and in hand
 5 
398
290,295

  
398
538,033

Creditors: amounts falling due within one year
 6 
(298)
(26,503)

  

Net assets
  
100
511,530


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
-
511,430

  
100
511,530


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 on 12 February 2024.




D E Button
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
LOGAN HOMES (WICKHAMBROOK) LIMITED
 

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

1.


General information

Logan Homes (Wickhambrook) Limited is a private Company limited by shares incorporated in England and Wales. The address of its registered office is Tennyson House, Cambridge Business Park, Cowley Road, Cambridge, CB4 0WZ.
The functional and presentational currency of the company is pounds sterling (£) being the currency of the primary economic environment in which the company operates.
The company ceased trading on 30 August 2023 and transferred all of its assets and liabilities to its fellow subsidiary Logan Homes Ltd on 31 August 2023. From the 1 September 2023 the company was a dormant company.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

On 30 August 2023, a decision was made by the director for the company to cease trading and transfer assets and liabilities to Logan Homes Limited, a fellow group company. As a result, the going concern concept is no longer applicable. No material adjustments have arisen to the year-end figures as a result of this.

 
2.3

Revenue

Turnover comprises revenue recognised by the company in respect to revenue during the year, exclusive of VAT Added Tax and trade discounts.
Revenue is recognised when development sales are exchanged and contracts are unconditional.

 
2.4

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.

  
2.5

Borrowing costs

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

 
2.6

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 balance sheet date in the countries where the Company operates and generates income.

Page 2

 
LOGAN HOMES (WICKHAMBROOK) LIMITED
 

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

2.Accounting policies (continued)

  
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less
costs to complete and sell. 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.

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

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 Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

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
Page 3

 
LOGAN HOMES (WICKHAMBROOK) LIMITED
 

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

2.Accounting policies (continued)


2.11
Financial instruments (continued)

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.

 
2.12

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 3 (2022 - 3).

Page 4

 
LOGAN HOMES (WICKHAMBROOK) LIMITED
 

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

4.


Debtors

2023
2022
£
£

Amounts owed by group undertakings
-
247,738



5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
399
290,295

399
290,295

Difference to be cleared
(1)


6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
-
632

Amounts owed to group undertakings
298
-

Corporation tax
-
25,748

Other taxation and social security
-
123

298
26,503



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1 each
100
100



8.


Related party transactions

The Company has taken advantage of the exemption afforded by FRS 102 not to disclose transactions or balances with other wholly owned members of the group.


9.


Parent Undertaking

The immediate parent undertaking is Logan Homes Limited and the ultimate parent undertaking is Leen Holdings Limited. Their registered offices are both Tennyson House, Cambridge Business Park, Cowley
Road, Cambridge, CB4 0WZ.

Page 5