Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31The principal activity of the company continues to be that of investment in property.12022-01-01false3falsetrue 04620102 2022-01-01 2022-12-31 04620102 2021-01-01 2021-12-31 04620102 2022-12-31 04620102 2021-12-31 04620102 2021-01-01 04620102 c:Director1 2022-01-01 2022-12-31 04620102 d:FurnitureFittings 2022-01-01 2022-12-31 04620102 d:FurnitureFittings 2022-12-31 04620102 d:FurnitureFittings 2021-12-31 04620102 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 04620102 d:ComputerEquipment 2022-01-01 2022-12-31 04620102 d:ComputerEquipment 2022-12-31 04620102 d:ComputerEquipment 2021-12-31 04620102 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 04620102 d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 04620102 d:FreeholdInvestmentProperty 2022-12-31 04620102 d:FreeholdInvestmentProperty 2021-12-31 04620102 d:FreeholdInvestmentProperty 2 2022-01-01 2022-12-31 04620102 d:CurrentFinancialInstruments 2022-12-31 04620102 d:CurrentFinancialInstruments 2021-12-31 04620102 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 04620102 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 04620102 d:ShareCapital 2022-12-31 04620102 d:ShareCapital 2021-12-31 04620102 d:ShareCapital 2021-01-01 04620102 d:OtherMiscellaneousReserve 2022-01-01 2022-12-31 04620102 d:OtherMiscellaneousReserve 2022-12-31 04620102 d:OtherMiscellaneousReserve 2021-01-01 2021-12-31 04620102 d:OtherMiscellaneousReserve 2021-12-31 04620102 d:OtherMiscellaneousReserve 2021-01-01 04620102 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 04620102 d:RetainedEarningsAccumulatedLosses 2022-12-31 04620102 d:RetainedEarningsAccumulatedLosses 2021-01-01 2021-12-31 04620102 d:RetainedEarningsAccumulatedLosses 2021-12-31 04620102 d:RetainedEarningsAccumulatedLosses 2021-01-01 04620102 c:FRS102 2022-01-01 2022-12-31 04620102 c:Audited 2022-01-01 2022-12-31 04620102 c:FullAccounts 2022-01-01 2022-12-31 04620102 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 04620102 c:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 04620102 6 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 04620102










STRATFORD PLACE LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
STRATFORD PLACE LIMITED
REGISTERED NUMBER: 04620102

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
8,377
18,225

Investments
 5 
100
100

Investment property
 6 
6,678,571
6,600,000

  
6,687,048
6,618,325

Current assets
  

Debtors: amounts falling due within one year
 7 
14,064,636
14,557,129

Cash at bank and in hand
 8 
341,969
360,258

  
14,406,605
14,917,387

Creditors: amounts falling due within one year
 9 
(19,306,678)
(19,135,055)

Net current liabilities
  
 
 
(4,900,073)
 
 
(4,217,668)

  

Net assets
  
1,786,975
2,400,657


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Other reserves
 11 
1,984,873
1,906,302

Profit and loss account
 11 
(198,898)
493,355

  
1,786,975
2,400,657


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 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: 


B M Menell
Director

Date: 24 November 2023

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

Page 1

 
STRATFORD PLACE LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2022


Called up share capital
Other reserves
Profit and loss account
Total equity

£
£
£
£


At 1 January 2021
1,000
1,367,382
964,231
2,332,613



Profit for the year
-
-
68,044
68,044

Transfer to/from profit and loss account
-
538,920
(538,920)
-



At 1 January 2022
1,000
1,906,302
493,355
2,400,657



Loss for the year
-
-
(613,682)
(613,682)

Transfer to revaluation reserve
-
78,571
(78,571)
-


At 31 December 2022
1,000
1,984,873
(198,898)
1,786,975


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

Page 2

 
STRATFORD PLACE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


GENERAL INFORMATION

Stratford Place Limited is a private company limited by shares incorporated in England and Wales,  registration number 04620102. The registered office is 14th Floor, 33 Cavendish Square, London, W1G 0PW. 

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 As a small company, the directors have exercised the exemption available to not prepare group consolidated accounts..

The following principal accounting policies have been applied:

 
2.2

GOING CONCERN

The financial statements have been prepared on a going concern basis. The company has received indication of support from fellow group companies. Therefore on this basis, the director considers it appropriate to prepare the accounts on a going concern basis.

 
2.3

TURNOVER

Turnover represents rent receivable from letting of investment properties. Rent receivable from tenants are measured at fair value. Rental income is recognised in the period to which it arises on an accrual basis and in accordance with the terms of the lease.

 
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.

Page 3

 
STRATFORD PLACE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.ACCOUNTING POLICIES (CONTINUED)

 
2.6

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.

 
2.7

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:

Fixtures and fittings
-
25%
straight line
Computer equipment
-
25%
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.

Page 4

 
STRATFORD PLACE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.ACCOUNTING POLICIES (CONTINUED)

 
2.8

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.

 
2.9

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.10

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.

 
2.11

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.

 
2.12

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.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 3 (2021 -1).

Page 5

 
STRATFORD PLACE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

4.


TANGIBLE FIXED ASSETS





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2022
41,536
18,071
59,607



At 31 December 2022

41,536
18,071
59,607



Depreciation


At 1 January 2022
23,708
17,674
41,382


Charge for the year on owned assets
9,451
397
9,848



At 31 December 2022

33,159
18,071
51,230



Net book value



At 31 December 2022
8,377
-
8,377



At 31 December 2021
17,828
397
18,225


5.


FIXED ASSET INVESTMENTS





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2022
100



At 31 December 2022
100




Page 6

 
STRATFORD PLACE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

6.


INVESTMENT PROPERTY


Freehold investment property

£



Valuation


At 1 January 2022
6,600,000


Surplus on revaluation
78,571



At 31 December 2022
6,678,571

The 2022 valuations were made by Alexander Lyons Charted Surveyors, 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:

2022
2021
£
£


Historic cost
4,693,697
4,693,697


7.


DEBTORS

2022
2021
£
£


Trade debtors
24,794
21,858

Amounts owed by group undertakings
13,973,326
14,440,717

Other debtors
999
41,931

Prepayments and accrued income
65,517
52,623

14,064,636
14,557,129



8.


CASH AND CASH EQUIVALENTS

2022
2021
£
£

Cash at bank and in hand
341,969
360,258


Page 7

 
STRATFORD PLACE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

9.


CREDITORS: Amounts falling due within one year

2022
2021
£
£

Bank loans
7,075,000
8,270,000

Trade creditors
55,924
735

Other taxation and social security
54,297
47,045

Other creditors
11,965,443
10,750,600

Accruals and deferred income
156,014
66,675

19,306,678
19,135,055


The bank loans are secured by a fixed charge over the property in favour of the bank.


10.


LOANS


Analysis of the maturity of loans is given below:


2022
2021
£
£

Amounts falling due within one year

Bank loans
7,075,000
8,270,000




7,075,000
8,270,000



11.


RESERVES

Other reserves

Other reserves relates to undistributable reserves arising from revaluation of investment property less any deferred tax.

Profit and loss account

Retained earnings represents accumulated comprehensive income for the year and prior periods.

Page 8

 
STRATFORD PLACE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

12.


RELATED PARTY TRANSACTIONS

During the year, the company entered into the following transactions with related parties:
Transactions with other related parties:
Rental income of £64,680 (2021: £64,780)
The following balances were payable at the year end:
Entities within common control: £11,965,442 (2021: £10,731,297). These entities have confirmed that they will not seek repayment of the balances until such a time that cash flow permits. No interest is charged on these balances.


13.


AUDITORS' INFORMATION

The auditors' report on the financial statements for the year ended 31 December 2022 was unqualified.

The audit report was signed on 24 November 2023 by Rajiv Thakerar (Senior statutory auditor) on behalf of Simmons Gainsford LLP.

Page 9