Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-282022-03-01falseNo description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11194682 2022-03-01 2023-02-28 11194682 2021-03-01 2022-02-28 11194682 2023-02-28 11194682 2022-02-28 11194682 c:Director2 2022-03-01 2023-02-28 11194682 d:OfficeEquipment 2022-03-01 2023-02-28 11194682 d:OfficeEquipment 2023-02-28 11194682 d:OfficeEquipment 2022-02-28 11194682 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 11194682 d:PatentsTrademarksLicencesConcessionsSimilar 2023-02-28 11194682 d:PatentsTrademarksLicencesConcessionsSimilar 2022-02-28 11194682 d:CurrentFinancialInstruments 2023-02-28 11194682 d:CurrentFinancialInstruments 2022-02-28 11194682 d:Non-currentFinancialInstruments 2023-02-28 11194682 d:Non-currentFinancialInstruments 2022-02-28 11194682 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 11194682 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 11194682 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 11194682 d:Non-currentFinancialInstruments d:AfterOneYear 2022-02-28 11194682 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-02-28 11194682 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-02-28 11194682 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-02-28 11194682 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-02-28 11194682 d:ShareCapital 2023-02-28 11194682 d:ShareCapital 2022-02-28 11194682 d:RetainedEarningsAccumulatedLosses 2023-02-28 11194682 d:RetainedEarningsAccumulatedLosses 2022-02-28 11194682 c:FRS102 2022-03-01 2023-02-28 11194682 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 11194682 c:FullAccounts 2022-03-01 2023-02-28 11194682 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 11194682 6 2022-03-01 2023-02-28 11194682 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure

Registered number: 11194682









MY CASA APARTMENTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2023

 
MY CASA APARTMENTS LIMITED
REGISTERED NUMBER: 11194682

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 5 
2,334
2,918

Tangible assets
 6 
631
809

Investments
 7 
100
100

  
3,065
3,827

Current assets
  

Debtors
 8 
385,175
301,168

Cash at bank and in hand
 9 
45,943
3,300

  
431,118
304,468

Creditors: amounts falling due within one year
 10 
(357,222)
(142,565)

Net current assets
  
 
 
73,896
 
 
161,903

Total assets less current liabilities
  
76,961
165,730

Creditors: amounts falling due after more than one year
 11 
(21,163)
(28,853)

  

Net assets
  
55,798
136,877


Capital and reserves
  

Called up share capital 
  
99
99

Profit and loss account
  
55,699
136,778

  
55,798
136,877


Page 1

 
MY CASA APARTMENTS LIMITED
REGISTERED NUMBER: 11194682
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 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 statement of comprehensive income 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: 

Elad Farkash
Director

Date: 6 February 2024

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
MY CASA APARTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

My Casa Apartments Limited (the "Company") is a private company limited by share capital, incorporated under the Companies Act 2006 and domiciled in England. The address of the Company's registered office is 2a Fortis Green, London, England, N2 9EL.

2.Accounting policies

  
2.1

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all reporting periods presented, unless otherwise stated.

 
2.2

Basis of preparation of financial statements

The financial statements of the Company 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 Companies Act 2006.
The preparation of financial statements in conformity with Financial Reporting Standard 102 requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the Company's accounting policies.
Details of those estimates and/or judgments made in applying the Company's accounting policies towards the preparation of these financial statements that may be considered as yielding a significant risk of a material adjustment being made to the carrying amounts of assets and/or liabilities reported in the balance sheet during the next financial reporting period are disclosed in note 3 to the financial statements.

 
2.3

Exemption from preparing consolidated financial statements

The Company is exempt from the requirement to prepare consolidated financial statements by virtue of section 383 of the Companies Act 2006 on the grounds that the Company and its subsidiary undertakings qualify as small both individually and on consolidation.
The financial statements therefore present information about the Company as an individual undertaking and not about its group.

  
2.4

Functional and presentational currency

Items included in the financial statements of the Company are measured using the currency of the primary economic environment in which the Company operates (the "functional currency").
The functional currency of the Company, and the currency in which the financial statements are presented (the "presentational currency"), is 'Pounds Sterling' (£) rounded to the nearest single unit of currency.

Page 3

 
MY CASA APARTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.5

Going concern

In assessing whether the going concern basis remains appropriate for the preparation of the financial statements, the directors have reviewed the Company’s principal and emerging risks, existing loan facilities, access to funding and liquidity position and the Company's performance up to the date these financial statements were approved and expected performance over the 18 months following the balance sheet date.
Based on their assessment, the directors at the time of approving the financial statements have a reasonable expectation that the Company has, available at its disposal, adequate resources to continue in operational existence for the foreseeable future.

 
2.6

Revenue

Turnover represents rental and management charges and reposit fees receivable and is recognised on provision of the underlying service or asset with amounts accrued and/or deferred in accordance with the timing of invoices.

 
2.7

Government grants

Government grants are recognised in profit or loss in the same period in which the related costs covered by the grant are incurred to the extent there is reasonable certainty that the grant will be received.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred unless where considered, in the opinion of the directors, to be material with respect to the value of the associated capital instrument upon which the respective borrowing costs on issue are initially recognised as a reduction against the proceeds of the associated capital instrument.

 
2.9

Pensions

The Company makes direct contributions towards defined contribution pension plans on behalf of its employees; the assets of which are held separately from the Company in independently administered funds.
A defined contribution plan is a pension plan under which fixed contributions are payable into a separate entity. Once the contributions have been paid there are no further payment obligations. Contributions payable by the Company are recognised as an expense in profit or loss during the reporting period in which they fall due. Amounts not paid are shown as part of other creditors in the balance sheet.

  
2.10

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

Page 4

 
MY CASA APARTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.11

Taxation

Taxation comprises of corporate taxation ("current taxation") recognised solely in profit or loss.
Current taxation is calculated using tax rates and on the basis of tax laws enacted or substantively enacted at the balance sheet date in the United Kingdom where the Company solely operates and generates taxable income.

 
2.12

Intangible assets

Intangible assets comprise of software licences which are initially recognised at cost and subsequently held at cost less any accumulated amortisation recognised on a 20% reducing balance basis.

 
2.13

Tangible fixed assets

Tangible fixed assets are recognised under the cost model and stated at historical cost less accumulated depreciation. 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 upon acquisition.

Depreciation is provided on the following basis:

Office equipment
-
25%
reducing balance

Depreciation of a tangible fixed asset commences once the asset is available for use.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.14

Fixed asset investments

Fixed asset investments comprise holdings in unlisted company shares of subsidiary undertakings. Such holdings are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at cost less provision for impairment at the balance sheet date.

 
2.15

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities; with said financial assets and liabilities classified in accordance with the substance of the underlying contractual obligations rather than its legal form.
Financial assets and liabilities are recognised upon the Company becoming party to the contractual provisions of the instrument. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or the financial asset is transferred along with substantially all the risks and rewards of ownership of the asset to another party. Financial liabilities are derecognised only when the Company’s obligations are discharged, cancelled or expired.
The measurement of specific financial assets, financial liabilities and equity held by the Company is as outlined in notes 2.16 to 2.19 of the financial statements.

Page 5

 
MY CASA APARTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.16

Debtors

Debtors are initially measured at transaction price (i.e. air value) and subsequently held, at transaction price less provision for impairment.

 
2.17

Cash and cash equivalents

Cash balances are reported by the Company as being financial instruments classified as short term receivables and are represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours and subject to an insignificant risk of changes in value. Cash balances are held at floating interest rates linked to UK bank rates.

 
2.18

Creditors

Creditors are initially measured and subsequently held at transaction price.

 
2.19

Equity and dividends

Ordinary share capital, shown in equity, is initially measured and subsequently held at its nominal value. Where the transaction price for issued shares exceeds their nominal value, the difference is shown under equity in a share premium account with any directly attributable transaction costs associated with the issuing of said shares deducted from said share premium account.
Equity dividends are recognised in the reporting period in which they become legally payable.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the Company's accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. Although the expected outcome of said estimates and assumptions will, by definition, seldom equal the related actual results; estimates and judgments made are continually re-evaluated and are based on historical experience as well as other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The estimates and assumptions that are considered as having a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial period are addressed below:
Impairment of debtors
When assessing the recoverable value of debtors, the directors consider a variety of factors including the ageing profile of the debt, historical experience and the quality of communications to date with the debtor.


4.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).
In accordance with UK legislation, office holders (i.e. registered company directors and/or secretaries) of the Company are not employees of the Company on the grounds that they are not party to a contract with the Company that meets the criteria for status of an employee.

Page 6

 
MY CASA APARTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

5.


Intangible assets




Licenses

£



Cost


At 1 March 2022
5,700



At 28 February 2023

5,700



Amortisation


At 1 March 2022
2,782


Charge for the year on owned assets
584



At 28 February 2023

3,366



Net book value



At 28 February 2023
2,334



At 28 February 2022
2,918



Page 7

 
MY CASA APARTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

6.


Tangible fixed assets





Office equipment

£



Cost


At 1 March 2022
1,339



At 28 February 2023

1,339



Depreciation


At 1 March 2022
530


Charge for the year on owned assets
178



At 28 February 2023

708



Net book value



At 28 February 2023
631



At 28 February 2022
809


7.


Fixed asset investments





Investments in subsidiary companies

£



Cost


At 1 March 2022
100



At 28 February 2023
100




Page 8

 
MY CASA APARTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

8.


Debtors

2023
2022
£
£

Falling due within one year

Trade debtors
381,173
284,777

Amounts owed by group undertakings
974
11,174

Other debtors
3,028
5,217

385,175
301,168


Trade and other debtors falling due within one year are non-interest bearing and, in the opinion of the directors, of a fair value not materially different to their carrying value.
Amounts owed by group undertakings are unsecured, interest-free and repayable on demand with no fixed date of repayment.
At the balance sheet date, the provision for impairment against debtors falling due within one year was £nil.


9.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
45,943
3,300

Less: bank overdrafts
(24)
-

45,919
3,300



10.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
24
-

Bank loans
7,696
7,702

Trade creditors
77,736
10,691

Amounts owed to group undertakings
105,943
19,645

Corporation tax
30,249
31,663

Other taxation and social security
10,428
25,115

Other creditors
73,096
32,379

Accruals and deferred income
52,050
15,370

357,222
142,565

Page 9

 
MY CASA APARTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

10.Creditors: Amounts falling due within one year (continued)


Amounts owed to group undertakings are unsecured, interest-free and repayable on demand with no fixed date of repayment.


11.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
21,163
28,853



12.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
7,696
7,702

Amounts falling due 1-2 years

Bank loans
7,696
7,696

Amounts falling due 2-5 years

Bank loans
13,467
21,157




13.


Financial instruments

The Company held no financial instruments that would require specific disclosure under sections 11 or 12 of Financial Reporting Standard 102 and paragraph 36 of Schedule 1 to the Companies Act 2006.


14.


Pension commitments

Employee and employer contributions payable of £nil (2022: £570) were outstanding at the balance sheetdate.

Page 10

 
MY CASA APARTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

15.


Related party transactions

The Company has taken advantage of exemptions provided by Section 33 of Financial Reporting Standard 102 from the requirement to disclose transactions undertaken or balances carried forward as at the balance sheet date between the Company and its fellow wholly-owned group undertakings.
Management charges of £65,700 (2022: £nil) were payable by the Company during the year to companies under common control.
At the balance sheet date, the Company was owed £3,997 (2022: £5,642) from and owed £108,971 (2022: £47,282) to companies connected by virtue of common control or being non-wholly owned fellow group undertakings towards unsecured interest-free loan accounts. Said loan accounts are repayable on demand with no fixed date of of repayment.
There were no other related party transactions and/or period end balances to report in accordance with Financial Reporting Standard 102 or the Companies Act 2006 as part of these financial statements.


16.


Controlling party

The immediate parent undertaking is 35 Woodstock Avenue Limited, a company incorporated under the UK Companies Act 2006, which holds a 66.67% interest in the issued share capital of the Company.
35 Woodstock Avenue Limited, whose registered office is located at 2a Fortis Green, London, England, N2 9EL is the parent undertaking of the smallest group to consolidate these financial statements.

 
Page 11