Caseware UK (AP4) 2023.0.135 2023.0.135 2023-03-312023-03-31No description of principal activity2022-04-01false22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12515335 2022-04-01 2023-03-31 12515335 2021-04-01 2022-03-31 12515335 2023-03-31 12515335 2022-03-31 12515335 c:Director2 2022-04-01 2023-03-31 12515335 d:FreeholdInvestmentProperty 2023-03-31 12515335 d:FreeholdInvestmentProperty 2022-03-31 12515335 d:CurrentFinancialInstruments 2023-03-31 12515335 d:CurrentFinancialInstruments 2022-03-31 12515335 d:Non-currentFinancialInstruments 2023-03-31 12515335 d:Non-currentFinancialInstruments 2022-03-31 12515335 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 12515335 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 12515335 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 12515335 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 12515335 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 12515335 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 12515335 d:ShareCapital 2023-03-31 12515335 d:ShareCapital 2022-03-31 12515335 d:RetainedEarningsAccumulatedLosses 2023-03-31 12515335 d:RetainedEarningsAccumulatedLosses 2022-03-31 12515335 c:OrdinaryShareClass1 2022-04-01 2023-03-31 12515335 c:OrdinaryShareClass1 2023-03-31 12515335 c:OrdinaryShareClass1 2022-03-31 12515335 c:FRS102 2022-04-01 2023-03-31 12515335 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 12515335 c:FullAccounts 2022-04-01 2023-03-31 12515335 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 iso4217:GBP xbrli:shares xbrli:pure


Registered number: 12515335












ACRE BARNSTAPLE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


 
REGISTERED NUMBER:12515335
ACRE BARNSTAPLE LIMITED

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
3,361,306
3,361,306

  
3,361,306
3,361,306

Current assets
  

Debtors: amounts falling due within one year
 5 
82,520
55,020

Cash at bank and in hand
  
352,128
140,640

  
434,648
195,660

Creditors: amounts falling due within one year
 6 
(779,442)
(629,843)

Net current liabilities
  
 
 
(344,794)
 
 
(434,183)

Total assets less current liabilities
  
3,016,512
2,927,123

Creditors: amounts falling due after more than one year
 7 
(2,645,189)
(2,647,038)

  

Net assets
  
371,323
280,085


Capital and reserves
  

Called up share capital 
 9 
20
20

Profit and loss account
  
371,303
280,065

Total equity
  
371,323
280,085


Page 1


 
REGISTERED NUMBER:12515335
ACRE BARNSTAPLE LIMITED
    
BALANCE SHEET (CONTINUED)
AS AT 31 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 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 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: 




J Singh
Director

Date: 26 January 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 

ACRE BARNSTAPLE LIMITED

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

1.


General information

Acre Barnstaple Limited is a private company limited by shares incorporated in England and Wales. The address of its registered office is 16 Great Queen Street, Convent Garden, London, WC2B 5AH.
The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts are rounded to the nearest £.

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

Going concern

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabiities as they fall due for the forseeable future, being a period of atleast twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

 
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:

Revenue represents rental income receivable during the period.

 
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 3

 

ACRE BARNSTAPLE LIMITED

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

2.Accounting policies (continued)

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers 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.

 
2.8

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

Financial instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. 
 
The company’s policies for its major classes of financial assets and financial liabilities are set out below. 

Financial assets
Basic financial assets, including trade and other debtors, cash and bank balances, intercompany working capital balances, and intercompany financing are initially recognised at transaction price, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Financial liabilities

Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Page 4

 

ACRE BARNSTAPLE LIMITED

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

2.Accounting policies (continued)




Financial instruments (continued)

Impairment of financial assets
Financial assets 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 cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 

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

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities
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 2 (2022 - 2).

Page 5

 

ACRE BARNSTAPLE LIMITED

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

4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2022
3,361,306



At 31 March 2023
3,361,306

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






5.


Debtors

2023
2022
£
£

Trade debtors
82,500
55,000

Other debtors
20
20

82,520
55,020



6.


Creditors: amounts falling due within one year

2023
2022
£
£

Other loans
651,783
493,470

Trade creditors
4,120
-

Corporation tax
20,549
33,689

Other taxation and social security
30,056
27,500

Accruals and deferred income
72,934
75,184

779,442
629,843



7.


Creditors: amounts falling due after more than one year

2023
2022
£
£

Other loans
2,645,189
2,647,038


Page 6

 

ACRE BARNSTAPLE LIMITED

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

8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Other loans
651,783
493,470

Amounts falling due 2-5 years

Other loans
2,645,189
2,647,038

3,296,972
3,140,508



9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



20 (2022 - 20) Ordinary shares of £1.00 each
20
20



10.


Related party transactions

The company has taken advantage of the exemption contained in FRS 102 section 33 "Related party Disclosures" from disclosing transactions with entities which are a wholly owned part of the group.


11.


Controlling party

The company's parent undertaking is Dooa Capital Limited which does not prepare consolidated financial statements. Its registered office address is 16 Great Queen Street, Covent Garden, London, WC2B 5AH.

 
Page 7