Caseware UK (AP4) 2023.0.135 2023.0.135 The principal activity of the company was that of commercial property management.2022-07-01false22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12526410 2022-07-01 2023-06-30 12526410 2021-07-01 2022-06-30 12526410 2023-06-30 12526410 2022-06-30 12526410 c:Director1 2022-07-01 2023-06-30 12526410 d:FreeholdInvestmentProperty 2023-06-30 12526410 d:FreeholdInvestmentProperty 2022-06-30 12526410 d:CurrentFinancialInstruments 2023-06-30 12526410 d:CurrentFinancialInstruments 2022-06-30 12526410 d:Non-currentFinancialInstruments 2023-06-30 12526410 d:Non-currentFinancialInstruments 2022-06-30 12526410 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 12526410 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 12526410 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 12526410 d:Non-currentFinancialInstruments d:AfterOneYear 2022-06-30 12526410 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-06-30 12526410 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-06-30 12526410 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-06-30 12526410 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-06-30 12526410 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-06-30 12526410 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-06-30 12526410 d:ShareCapital 2023-06-30 12526410 d:ShareCapital 2022-06-30 12526410 d:RetainedEarningsAccumulatedLosses 2023-06-30 12526410 d:RetainedEarningsAccumulatedLosses 2022-06-30 12526410 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 12526410 d:AcceleratedTaxDepreciationDeferredTax 2022-06-30 12526410 c:FRS102 2022-07-01 2023-06-30 12526410 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 12526410 c:FullAccounts 2022-07-01 2023-06-30 12526410 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure

Registered number: 12526410










Alchemy Care Property Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 30 June 2023

 
Alchemy Care Property Limited
Registered number: 12526410

Balance Sheet
As at 30 June 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
2,339,735
2,339,735

  
2,339,735
2,339,735

Current assets
  

Debtors: amounts falling due within one year
 5 
1,579,664
1,597,776

Cash at bank and in hand
  
2,246
61

  
1,581,910
1,597,837

Creditors: amounts falling due within one year
 6 
(1,921,339)
(1,910,434)

Net current liabilities
  
 
 
(339,429)
 
 
(312,597)

Total assets less current liabilities
  
2,000,306
2,027,138

Creditors: amounts falling due after more than one year
 7 
(1,875,032)
(1,937,302)

Provisions for liabilities
  

Deferred tax
 9 
(9,109)
(9,109)

  
 
 
(9,109)
 
 
(9,109)

Net assets
  
116,165
80,727


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
116,065
80,627

  
116,165
80,727


Page 1

 
Alchemy Care Property Limited
Registered number: 12526410

Balance Sheet (continued)
As at 30 June 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: 



................................................
G Twocock
Director
Date: 22 February 2024

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

Page 2

 
Alchemy Care Property Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 June 2023

1.


General information

Alchemy Care Property Limited is a private company, limited by share capital, and incorporated in England and Wales, registration number 12526410. The registered office address of the company is 15-21 Perryfield Road, Crawley, West Sussex, RH11 8AA.
The financial statements are presented in sterling and are rounded to the nearest £1.

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

Turnover represents net rental income from properties during the year, excluding value added tax.

 
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.

 
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.

Page 3

 
Alchemy Care Property Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 June 2023

2.Accounting policies (continued)

 
2.6

Investment property

Investment property is carried at fair value determined annually by the directors 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.

 
2.7

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.

 
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

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.

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. 


3.


Employees

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

Page 4

 
Alchemy Care Property Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 June 2023

4.


Investment property


Freehold investment property

£



Valuation


At 1 July 2022
2,339,735



At 30 June 2023
2,339,735

The 2023 valuations were conducted by the directors on a fair value basis.





If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
2,339,735
2,339,735

2,339,735
2,339,735


5.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
1,579,664
1,596,664

Prepayments and accrued income
-
1,112

1,579,664
1,597,776


Page 5

 
Alchemy Care Property Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 June 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
49,123
39,352

Trade creditors
1,410
-

Amounts owed to group undertakings
1,859,234
1,860,834

Corporation tax
9,052
7,968

Accruals and deferred income
2,520
2,280

1,921,339
1,910,434


The following liabilities were secured:

2023
2022
£
£



Bank loans
49,123
39,352

49,123
39,352

Details of security provided:

The bank loan is secured against the freehold investment properties.


7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
1,875,032
1,937,302

1,875,032
1,937,302


The following liabilities were secured:

2023
2022
£
£



Bank loans
1,875,032
1,937,302

1,875,032
1,937,302

Details of security provided:

The bank loan is secured against the freehold investment properties.

Page 6

 
Alchemy Care Property Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 June 2023

8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
49,123
39,352


49,123
39,352

Amounts falling due 1-2 years

Bank loans
56,700
50,592


56,700
50,592

Amounts falling due 2-5 years

Bank loans
215,569
196,722


215,569
196,722

Amounts falling due after more than 5 years

Bank loans
1,602,763
1,689,988

1,924,155
1,976,654



9.


Deferred taxation




2023


£






At beginning of year
(9,109)



At end of year
(9,109)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(9,109)
(9,109)

(9,109)
(9,109)


10.


Controlling party

The company is controlled by the parent undertaking, Alchemy Care Holdings Limited. Alchemy Care Holdings Limited is controlled by the joint shareholder directors.


Page 7