Caseware UK (AP4) 2023.0.135 2023.0.135 2023-05-312023-05-31false2022-06-01Buying and selling of own real estate22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11982539 2022-06-01 2023-05-31 11982539 2021-06-01 2022-05-31 11982539 2023-05-31 11982539 2022-05-31 11982539 c:Director1 2022-06-01 2023-05-31 11982539 d:Buildings 2022-06-01 2023-05-31 11982539 d:Buildings 2023-05-31 11982539 d:Buildings 2022-05-31 11982539 d:Buildings d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 11982539 d:LandBuildings 2023-05-31 11982539 d:LandBuildings 2022-05-31 11982539 d:FurnitureFittings 2022-06-01 2023-05-31 11982539 d:FurnitureFittings 2023-05-31 11982539 d:FurnitureFittings 2022-05-31 11982539 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 11982539 d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 11982539 d:CurrentFinancialInstruments 2023-05-31 11982539 d:CurrentFinancialInstruments 2022-05-31 11982539 d:Non-currentFinancialInstruments 2023-05-31 11982539 d:Non-currentFinancialInstruments 2022-05-31 11982539 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 11982539 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 11982539 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 11982539 d:Non-currentFinancialInstruments d:AfterOneYear 2022-05-31 11982539 d:ShareCapital 2023-05-31 11982539 d:ShareCapital 2022-05-31 11982539 d:RetainedEarningsAccumulatedLosses 2023-05-31 11982539 d:RetainedEarningsAccumulatedLosses 2022-05-31 11982539 d:AcceleratedTaxDepreciationDeferredTax 2023-05-31 11982539 d:AcceleratedTaxDepreciationDeferredTax 2022-05-31 11982539 c:FRS102 2022-06-01 2023-05-31 11982539 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 11982539 c:FullAccounts 2022-06-01 2023-05-31 11982539 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure



Company Registration No. 11982539 (England and Wales)







KELTIC ESTATES LIMITED

UNAUDITED
FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MAY 2023




































Riordan O'Sullivan & Co
Chartered Certified Accountants
40 Chamberlayne Road
London
NW10 3JE

 
KELTIC ESTATES LIMITED
REGISTERED NUMBER:11982539

BALANCE SHEET
AS AT 31 MAY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,399,550
1,549,540

  
1,399,550
1,549,540

Current assets
  

Debtors: amounts falling due within one year
 5 
30,800
84,216

Cash at bank and in hand
  
19,829
6,447

  
50,629
90,663

Creditors: amounts falling due within one year
 6 
(378,210)
(463,565)

Net current liabilities
  
 
 
(327,581)
 
 
(372,902)

Total assets less current liabilities
  
1,071,969
1,176,638

Creditors: amounts falling due after more than one year
 7 
(1,105,783)
(1,145,106)

Provisions for liabilities
  

Deferred tax
  
(29,000)
(29,000)

  
 
 
(29,000)
 
 
(29,000)

Net (liabilities)/assets
  
(62,814)
2,532


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(62,914)
2,432

  
(62,814)
2,532


Page 1

 
KELTIC ESTATES LIMITED
REGISTERED NUMBER:11982539
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2023

The director considers 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 director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 on 21 December 2024.




___________________________
Gerald Anthony Ferry
Director

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

Page 2

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

1.


General information

Keltic Estates Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 2, Cadbury Close, London, England, N20 9BD.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

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:

 
2.3

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.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

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

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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%

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.

 
2.7

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

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

2.Accounting policies (continued)

 
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.


3.


Employees

The average monthly number of employees, including the director, during the year was as follows:


        2023
        2022
            No.
            No.







Number of employees
2
2

Page 5

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

4.


Tangible fixed assets





Freehold property
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 June 2022
1,536,192
25,744
1,561,936


Additions
-
14,911
14,911


Disposals
(155,009)
-
(155,009)



At 31 May 2023

1,381,183
40,655
1,421,838



Depreciation


At 1 June 2022
-
12,396
12,396


Charge for the year on owned assets
-
9,892
9,892



At 31 May 2023

-
22,288
22,288



Net book value



At 31 May 2023
1,381,183
18,367
1,399,550



At 31 May 2022
1,536,192
13,348
1,549,540




The net book value of land and buildings may be further analysed as follows:


2023
2022
£
£

Freehold
1,381,183
1,536,192

1,381,183
1,536,192



5.


Debtors

2023
2022
£
£


Trade debtors
10,800
31,302

Other debtors
20,000
52,914

30,800
84,216


Page 6

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

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
5,400
6,624

Other loans
29,400
28,290

Trade creditors
11,371
166,335

Other taxation and social security
3,189
2,802

Other creditors
325,400
256,064

Accruals
3,450
3,450

378,210
463,565



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
1,105,783
1,145,106

1,105,783
1,145,106



8.


Deferred taxation




2023


£






At beginning of year
(29,000)



At end of year
(29,000)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(29,000)
(29,000)

(29,000)
(29,000)

 
Page 7