Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-302022-07-01falseThe principal activity of the company is that of management of the property.33truetrue 02876346 2022-07-01 2023-06-30 02876346 2021-07-01 2022-06-30 02876346 2023-06-30 02876346 2022-06-30 02876346 1 2022-07-01 2023-06-30 02876346 d:Director1 2022-07-01 2023-06-30 02876346 c:FreeholdInvestmentProperty 2023-06-30 02876346 c:FreeholdInvestmentProperty 2022-06-30 02876346 c:FreeholdInvestmentProperty 2 2022-07-01 2023-06-30 02876346 c:CurrentFinancialInstruments 2023-06-30 02876346 c:CurrentFinancialInstruments 2022-06-30 02876346 c:CurrentFinancialInstruments c:WithinOneYear 2023-06-30 02876346 c:CurrentFinancialInstruments c:WithinOneYear 2022-06-30 02876346 c:ShareCapital 2023-06-30 02876346 c:ShareCapital 2022-06-30 02876346 c:SharePremium 2022-07-01 2023-06-30 02876346 c:SharePremium 2023-06-30 02876346 c:SharePremium 2022-06-30 02876346 c:OtherMiscellaneousReserve 2022-07-01 2023-06-30 02876346 c:OtherMiscellaneousReserve 2023-06-30 02876346 c:OtherMiscellaneousReserve 2022-06-30 02876346 c:RetainedEarningsAccumulatedLosses 2022-07-01 2023-06-30 02876346 c:RetainedEarningsAccumulatedLosses 2023-06-30 02876346 c:RetainedEarningsAccumulatedLosses 2022-06-30 02876346 d:FRS102 2022-07-01 2023-06-30 02876346 d:Audited 2022-07-01 2023-06-30 02876346 d:FullAccounts 2022-07-01 2023-06-30 02876346 d:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 02876346 d:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 02876346 c:AcceleratedTaxDepreciationDeferredTax 2023-06-30 02876346 c:AcceleratedTaxDepreciationDeferredTax 2022-06-30 02876346 2 2022-07-01 2023-06-30 02876346 f:PoundSterling 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure

Registered number: 02876346










WILLIAM COBBETT HOUSE (FREEHOLD) LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2023

 
WILLIAM COBBETT HOUSE (FREEHOLD) LIMITED
REGISTERED NUMBER: 02876346

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
720,000
690,000

  
720,000
690,000

Current assets
  

Debtors: amounts falling due within one year
 5 
737
730

Cash at bank and in hand
 6 
162,034
142,937

  
162,771
143,667

Creditors: amounts falling due within one year
 7 
(52,991)
(47,701)

Net current assets
  
 
 
109,780
 
 
95,966

Total assets less current liabilities
  
829,780
785,966

Provisions for liabilities
  

Deferred tax
 8 
(121,520)
(114,020)

  
 
 
(121,520)
 
 
(114,020)

Net assets
  
708,260
671,946


Capital and reserves
  

Called up share capital 
  
22
22

Share premium account
 9 
28,000
28,000

Other reserves
 9 
479,619
457,119

Profit and loss account
 9 
200,619
186,805

  
708,260
671,946

Page 1

 
WILLIAM COBBETT HOUSE (FREEHOLD) LIMITED
REGISTERED NUMBER: 02876346
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2023

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 on 7 March 2024.

L. D. Melville
Director

The notes on pages 3 to 8 form part of these financial statements.
Page 2

 
WILLIAM COBBETT HOUSE (FREEHOLD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

William Cobbett House (freehold) Limited is a private company limited by shares, incorporated in England and Wales, registration number 02876346. The address of the registered office is 14th Floor, 33 Cavendish Square, London, W1G 0PW.

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

Turnover

Turnover comprises revenue recognised by the company is respect of rent received during the year.

 
2.3

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.

 
2.4

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.

 
2.5

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. 
Page 3

 
WILLIAM COBBETT HOUSE (FREEHOLD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.6

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the
Page 4

 
WILLIAM COBBETT HOUSE (FREEHOLD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)


2.6
Financial instruments (continued)

effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.7

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.

 
2.8

Interest income

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

 
2.9

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).

Page 5

 
WILLIAM COBBETT HOUSE (FREEHOLD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

4.


Investment property


Freehold investment property

£



Valuation


At 1 July 2022
690,000


Surplus on revaluation
30,000



At 30 June 2023
720,000

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

If the Investment property had been accounted for under the historic cost accounting rules, the property would have a cost of £118,861.






Page 6

 
WILLIAM COBBETT HOUSE (FREEHOLD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

5.


Debtors

2023
2022
£
£


Trade debtors
716
709

Called up share capital not paid
21
21

737
730



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
162,034
142,937



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
4,961
1,721

Other creditors
41,845
41,845

Accruals and deferred income
6,185
4,135

52,991
47,701


Page 7

 
WILLIAM COBBETT HOUSE (FREEHOLD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

8.


Deferred taxation




2023


£






At beginning of year
(114,020)


Charged to profit or loss
(7,500)



At end of year
(121,520)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Fair value movement
(121,520)
(114,020)


9.


Reserves

Share premium account

The share premium account is made up of amounts paid in excess of the par value of the shares.

Other reserves

Other reserves are made up of unrealised gains on investment property less deferred tax arising thereon. The unrealised gain is transferred from the profit and loss reserve to other reserves in the year the gain arises.

Profit and loss account

The Profit and loss reserves is made up of profits for the year.


10.


Post balance sheet events

Following the year end, a long lease was issued for part of the investment property held by the company, receiving proceeds of £680,000.


11.


Auditors' information

The auditors' report on the financial statements for the year ended 30 June 2023 was unqualified.

The audit report was signed on 7 March 2024 by David Pumfrey FCA (Senior Statutory Auditor) on behalf of Sumer Auditco Limited.

 
Page 8