Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31true02022-04-01falseNo description of principal activity0trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13429339 2022-04-01 2023-03-31 13429339 2021-04-01 2022-03-31 13429339 2023-03-31 13429339 2022-03-31 13429339 2021-04-01 13429339 c:Director1 2022-04-01 2023-03-31 13429339 c:Director2 2022-04-01 2023-03-31 13429339 d:Buildings d:LongLeaseholdAssets 2022-04-01 2023-03-31 13429339 d:Buildings d:LongLeaseholdAssets 2023-03-31 13429339 d:Buildings d:LongLeaseholdAssets 2022-03-31 13429339 d:PlantMachinery 2022-04-01 2023-03-31 13429339 d:PlantMachinery 2023-03-31 13429339 d:PlantMachinery 2022-03-31 13429339 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 13429339 d:FurnitureFittings 2022-04-01 2023-03-31 13429339 d:FurnitureFittings 2023-03-31 13429339 d:FurnitureFittings 2022-03-31 13429339 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 13429339 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 13429339 d:CurrentFinancialInstruments 2023-03-31 13429339 d:CurrentFinancialInstruments 2022-03-31 13429339 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 13429339 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 13429339 d:ShareCapital 2023-03-31 13429339 d:ShareCapital 2021-04-01 2022-03-31 13429339 d:ShareCapital 2022-03-31 13429339 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 13429339 d:RetainedEarningsAccumulatedLosses 2023-03-31 13429339 d:RetainedEarningsAccumulatedLosses 2021-04-01 2022-03-31 13429339 d:RetainedEarningsAccumulatedLosses 2022-03-31 13429339 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 13429339 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 13429339 d:TaxLossesCarry-forwardsDeferredTax 2023-03-31 13429339 d:TaxLossesCarry-forwardsDeferredTax 2022-03-31 13429339 c:OrdinaryShareClass1 2022-04-01 2023-03-31 13429339 c:OrdinaryShareClass1 2023-03-31 13429339 c:OrdinaryShareClass1 2022-03-31 13429339 c:OrdinaryShareClass2 2022-04-01 2023-03-31 13429339 c:OrdinaryShareClass2 2023-03-31 13429339 c:OrdinaryShareClass2 2022-03-31 13429339 c:FRS102 2022-04-01 2023-03-31 13429339 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 13429339 c:FullAccounts 2022-04-01 2023-03-31 13429339 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 13429339










CHESWELL GRANGE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

 
CHESWELL GRANGE LIMITED
REGISTERED NUMBER: 13429339

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
                                                                     Note
£
£

Fixed assets
  

Tangible assets
 4 
610,131
963

  
610,131
963

Current assets
  

Debtors: amounts falling due within one year
 5 
79,261
55,562

Cash at bank and in hand
  
5,836
41,445

  
85,097
97,007

Creditors: amounts falling due within one year
 6 
(679,367)
(64,402)

Net current (liabilities)/assets
  
 
 
(594,270)
 
 
32,605

Total assets less current liabilities
  
15,861
33,568

  

Net assets
  
15,861
33,568


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
15,761
33,468

  
15,861
33,568


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.
 
Page 1

 
CHESWELL GRANGE LIMITED
REGISTERED NUMBER: 13429339
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023


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: 




Mrs S M Harley
Mr N Harley
Director
Director


Date: 28 November 2023

The notes on pages 4 to 10 form part of these financial statements.

Page 2

 
CHESWELL GRANGE LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023


Called up share capital
Profit and loss account
Total equity

£
£
£



Profit for the year

-
37,468
37,468

Shares issued during the year
100
-
100

Dividends: Equity capital
-
(4,000)
(4,000)



At 1 April 2022
100
33,468
33,568



Loss for the year

-
(15,707)
(15,707)

Dividends: Equity capital
-
(2,000)
(2,000)


At 31 March 2023
100
15,761
15,861


The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
CHESWELL GRANGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Cheswell Grange Limited (company number 13429339) is a private limited company, limited by shares, incorporated in England and Wales, with is registered office and principal place of business at Cheswell Grange, Newport, Shropshire, TF10 9AE.
The Company was incorporated on 31 May 2021 and started trading on that date. The comparative figures relate to the period from 31 May 2021 to 31 March 2022.

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.

 
2.2

Going concern

After making enquiries, the Directors have reasonable expectation that the Company can continue to trade for the foreseeable future and therefore continue to adopt the going concern basis for the preparation of the Accounts.

 
2.3

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.

Page 4

 
CHESWELL GRANGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 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.

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.

Page 5

 
CHESWELL GRANGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance and straight line basis as detailed below.

Depreciation is provided on the following basis:

Long-term leasehold property
-
2%
straight line
Wedding venue equipment
-
25%
reducing balance
Property Improvements
-
not depreciated

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.

 
2.6

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.

 
2.7

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.

 
2.8

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.

 
2.9

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.

Page 6

 
CHESWELL GRANGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.10

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 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 Profit and loss account.

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.

 
2.11

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 0 (2022 - 0).

Page 7

 
CHESWELL GRANGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Long-term leasehold property
Wedding venue equipment
Property improvements
Total

£
£
£
£



Cost or valuation


At 1 April 2022
-
1,216
-
1,216


Additions
478,500
20,857
115,266
614,623



At 31 March 2023

478,500
22,073
115,266
615,839



Depreciation


At 1 April 2022
-
253
-
253


Charge for the year on owned assets
-
5,455
-
5,455



At 31 March 2023

-
5,708
-
5,708



Net book value



At 31 March 2023
478,500
16,365
115,266
610,131



At 31 March 2022
-
963
-
963


5.


Debtors

2023
2022
£
£


Trade debtors
65,857
53,570

VAT repayable
1,658
-

Directors loan account
-
100

Prepayments
6,052
1,879

Deferred taxation
5,694
13

79,261
55,562


Page 8

 
CHESWELL GRANGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
840
1,207

Corporation tax
-
8,802

VAT payable
-
530

Accruals and deferred income
60,900
49,034

Loan from connected company
5,704
4,829

Loan from connected company
131,723
-

Directors loan account
480,200
-

679,367
64,402



7.


Deferred taxation




2023
2022


£

£






At beginning of year
13
-


Charged to profit or loss
5,681
13



At end of year
5,694
13

The deferred tax asset is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(506)
13

Tax losses carried forward
6,200
-

5,694
13

Page 9

 
CHESWELL GRANGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



50 (2022 - 50) Ordinary A shares of £1.00 each
50
50
50 (2022 - 50) Ordinary B shares of £1.00 each
50
50

100

100



9.


Transactions with directors

During the period the Company operated a loan account with its Directors. At 1 April 2022, a balance of £100 was owed to the Company by the Directors. During the year the Directors have repaid this sum. Interest was charged by the Company at a rate of 0%. The loan was not secured and there were no fixed repayment terms.


10.


Related party transactions

During the year, the Company operated a loan account with a connected Company under common control. At 31 March 2023, Cheswell Grange Limited owed the Company a sum of £5,704 (2022 : £4,829).
During the year, the Company operated a loan account with a second connected Company under common control. At 31 March 2023, Cheswell Grange Limited owed the Company a sum of £131,723 
(2022 : £NIL).
During the year, the Company operated a loan account with its Directors. At 31 March 2023, Cheswell Grange Limited owed the Directors a sum of £480,200 
(2022 : £100 payable to the Company).
These loans are unsecured and have no set repayment terms. Interest is charged at 0%.

 
Page 10