Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-312022-06-01falseThe principal activity of the company is the development of building projects, buying and selling of own real estate and other letting and operating of own or leased real estate22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03979434 2022-06-01 2023-05-31 03979434 2021-06-01 2022-05-31 03979434 2023-05-31 03979434 2022-05-31 03979434 2021-06-01 03979434 c:Director2 2022-06-01 2023-05-31 03979434 d:Buildings 2023-05-31 03979434 d:Buildings 2022-05-31 03979434 d:CurrentFinancialInstruments 2023-05-31 03979434 d:CurrentFinancialInstruments 2022-05-31 03979434 d:Non-currentFinancialInstruments 2023-05-31 03979434 d:Non-currentFinancialInstruments 2022-05-31 03979434 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 03979434 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 03979434 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 03979434 d:Non-currentFinancialInstruments d:AfterOneYear 2022-05-31 03979434 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-05-31 03979434 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-05-31 03979434 d:ShareCapital 2023-05-31 03979434 d:ShareCapital 2022-05-31 03979434 d:OtherMiscellaneousReserve 2022-06-01 2023-05-31 03979434 d:OtherMiscellaneousReserve 2023-05-31 03979434 d:OtherMiscellaneousReserve 2022-05-31 03979434 d:RetainedEarningsAccumulatedLosses 2022-06-01 2023-05-31 03979434 d:RetainedEarningsAccumulatedLosses 2023-05-31 03979434 d:RetainedEarningsAccumulatedLosses 2022-05-31 03979434 d:AcceleratedTaxDepreciationDeferredTax 2023-05-31 03979434 d:AcceleratedTaxDepreciationDeferredTax 2022-05-31 03979434 c:FRS102 2022-06-01 2023-05-31 03979434 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 03979434 c:FullAccounts 2022-06-01 2023-05-31 03979434 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 03979434 2 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure

Registered number: 03979434









EARL LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2023

 
EARL LIMITED
REGISTERED NUMBER: 03979434

BALANCE SHEET
AS AT 31 MAY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,050,000
1,050,000

  
1,050,000
1,050,000

Current assets
  

Debtors: amounts falling due within one year
 5 
325,000
-

Cash at bank and in hand
 6 
25,880
31,140

  
350,880
31,140

Creditors: amounts falling due within one year
 7 
(43,303)
(44,597)

Net current assets/(liabilities)
  
 
 
307,577
 
 
(13,457)

Total assets less current liabilities
  
1,357,577
1,036,543

Creditors: amounts falling due after more than one year
 8 
(456,568)
(186,104)

Provisions for liabilities
  

Deferred tax
 10 
(180,140)
(180,140)

  
 
 
(180,140)
 
 
(180,140)

Net assets
  
720,869
670,299


Capital and reserves
  

Called up share capital 
  
100
100

Other reserves
 11 
540,420
540,420

Profit and loss account
 11 
180,349
129,779

  
720,869
670,299


Page 1

 
EARL LIMITED
REGISTERED NUMBER: 03979434
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 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: 




R Soltanie
Director

Date: 15 February 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
EARL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.


General information

Earl Limited is a private company, limited by shares, incorporated in the United Kingdom and registered in England and Wales. The company's registered office address is 101 New Cavendish Street, 1st Floor South,  London, W1W 6XH.
The financial statements are presented in Sterling, which is the functional currency of the 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 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

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.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
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

 
EARL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

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, SELECT OR ENTER METHOD.



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.

 
2.8

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.

Page 4

 
EARL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
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

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 5

 
EARL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

4.


Tangible fixed assets





Freehold property

£



Cost or valuation


At 1 June 2022
1,050,000



At 31 May 2023

1,050,000






Net book value



At 31 May 2023
1,050,000



At 31 May 2022
1,050,000


5.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
325,000
-

325,000
-



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
25,880
31,140

25,880
31,140


Page 6

 
EARL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
-
6,106

Amounts owed to group undertakings
21,000
21,000

Corporation tax
11,031
6,219

Other creditors
7,772
7,772

Accruals and deferred income
3,500
3,500

43,303
44,597



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
456,568
186,104

456,568
186,104



9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
-
6,106


-
6,106

Amounts falling due 1-2 years

Bank loans
456,568
186,104


456,568
186,104



456,568
192,210



10.


Deferred taxation

Page 7

 
EARL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
 
10.Deferred taxation (continued)




2023
2022


£

£






At beginning of year
(180,140)
(180,140)



At end of year
(180,140)
(180,140)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(180,140)
(180,140)

(180,140)
(180,140)


11.


Reserves

Other reserves

Includes the revaluation of investment properties and deferred tax on the revaluation.

Profit and loss account

Includes all current and prior period retained profits and losses.

 
Page 8