Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31No description of principal activity2022-01-01false59truetrue 01261971 2022-01-01 2022-12-31 01261971 2021-01-01 2021-12-31 01261971 2022-12-31 01261971 2021-12-31 01261971 c:Director1 2022-01-01 2022-12-31 01261971 d:PlantMachinery 2022-01-01 2022-12-31 01261971 d:PlantMachinery 2022-12-31 01261971 d:PlantMachinery 2021-12-31 01261971 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 01261971 d:MotorVehicles 2022-01-01 2022-12-31 01261971 d:MotorVehicles 2022-12-31 01261971 d:MotorVehicles 2021-12-31 01261971 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 01261971 d:FurnitureFittings 2022-01-01 2022-12-31 01261971 d:FurnitureFittings 2022-12-31 01261971 d:FurnitureFittings 2021-12-31 01261971 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 01261971 d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 01261971 d:LeaseholdInvestmentProperty 2022-01-01 2022-12-31 01261971 d:LeaseholdInvestmentProperty 2022-12-31 01261971 d:LeaseholdInvestmentProperty 2021-12-31 01261971 d:LeaseholdInvestmentProperty 2 2022-01-01 2022-12-31 01261971 d:CurrentFinancialInstruments 2022-12-31 01261971 d:CurrentFinancialInstruments 2021-12-31 01261971 d:Non-currentFinancialInstruments 2022-12-31 01261971 d:Non-currentFinancialInstruments 2021-12-31 01261971 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 01261971 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 01261971 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 01261971 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 01261971 d:ShareCapital 2022-12-31 01261971 d:ShareCapital 2021-12-31 01261971 d:OtherMiscellaneousReserve 2022-01-01 2022-12-31 01261971 d:OtherMiscellaneousReserve 2022-12-31 01261971 d:OtherMiscellaneousReserve 2021-12-31 01261971 d:RetainedEarningsAccumulatedLosses 2022-12-31 01261971 d:RetainedEarningsAccumulatedLosses 2021-12-31 01261971 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 01261971 d:AcceleratedTaxDepreciationDeferredTax 2021-12-31 01261971 c:FRS102 2022-01-01 2022-12-31 01261971 c:Audited 2022-01-01 2022-12-31 01261971 c:FullAccounts 2022-01-01 2022-12-31 01261971 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 01261971 c:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 01261971 2 2022-01-01 2022-12-31 01261971 4 2022-01-01 2022-12-31 01261971 6 2022-01-01 2022-12-31 01261971 f:PoundSterling 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 01261971









RAYNSWAY PROPERTIES LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
RAYNSWAY PROPERTIES LIMITED
REGISTERED NUMBER: 01261971

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
26,629
33,881

Investments
 5 
-
17,106,005

Investment property
 6 
22,120,000
23,790,000

  
22,146,629
40,929,886

Current assets
  

Stocks
  
-
600

Debtors: amounts falling due within one year
 7 
7,916,506
5,823,211

Cash at bank and in hand
 8 
161,416
1,242,147

  
8,077,922
7,065,958

Creditors: amounts falling due within one year
 9 
(1,362,934)
(1,040,236)

Net current assets
  
 
 
6,714,988
 
 
6,025,722

Total assets less current liabilities
  
28,861,617
46,955,608

Creditors: amounts falling due after more than one year
 10 
-
(17,327,709)

Provisions for liabilities
  

Deferred tax
 11 
(3,979,658)
(3,381,154)

  
 
 
(3,979,658)
 
 
(3,381,154)

Net assets
  
24,881,959
26,246,745


Capital and reserves
  

Called up share capital 
  
500
500

Other reserves
 12 
11,938,975
14,414,392

Profit and loss account
 12 
12,942,484
11,831,853

  
24,881,959
26,246,745


Page 1

 
RAYNSWAY PROPERTIES LIMITED
REGISTERED NUMBER: 01261971
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2022

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 8 March 2024.




P Cameron
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
RAYNSWAY PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

Raynsway Properties Limited is a private company limited by shares, incorporated in England & Wales (01261971). Its registered office is 8th Floor, 1 Fleet Place, London, England, EC4M 7RA. 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.

Page 3

 
RAYNSWAY PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
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 reporting 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 reporting 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 reporting date.

 
2.7

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.

 
2.8

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.

Page 4

 
RAYNSWAY PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
on reducing balance
Motor vehicles
-
25%
on reducing balance
Fixtures and fittings
-
15%
on reducing balance

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.

 
2.9

Investment property

Investment property is carried at fair value determined annually by external valuers 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.

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving items.



 
2.12

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 5

 
RAYNSWAY PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.13

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.

 
2.14

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.

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2021 - 9).

Page 6

 
RAYNSWAY PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 January 2022
68,453
34,250
20,494
123,197



At 31 December 2022

68,453
34,250
20,494
123,197



Depreciation


At 1 January 2022
56,597
18,465
14,255
89,317


Charge for the year on owned assets
2,369
3,946
936
7,251



At 31 December 2022

58,966
22,411
15,191
96,568



Net book value



At 31 December 2022
9,487
11,839
5,303
26,629



At 31 December 2021
11,857
15,785
6,239
33,881


5.


Fixed asset investments





Loans to group companies

£





At 1 January 2022
17,106,005


Repayments
(17,106,005)



At 31 December 2022
-




Page 7

 
RAYNSWAY PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

6.


Investment property


Investment property

£



Valuation


At 1 January 2022
23,790,000


Additions at cost
206,913


Deficit on revaluation
(1,876,913)



At 31 December 2022
22,120,000

The 2022 valuations were made by an external valuer, on an open market value for existing use basis.





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

2022
2021
£
£


Historic cost
6,201,367
5,994,454

6,201,367
5,994,454

Page 8

 
RAYNSWAY PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

7.


Debtors

2022
2021
£
£


Trade debtors
329,514
-

Amounts owed by group undertakings
6,916,813
5,536,882

Other debtors
564,111
223,679

Prepayments and accrued income
106,068
62,650

7,916,506
5,823,211



8.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
161,416
1,242,147

161,416
1,242,147



9.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
23,597
7,776

Amounts owed to group undertakings
839,872
838,123

Other taxation and social security
4,251
19,138

Obligations under finance lease and hire purchase contracts
6,957
6,957

Other creditors
145,399
126,547

Accruals and deferred income
342,858
41,695

1,362,934
1,040,236



10.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Amounts owed to group undertakings
-
17,327,709

-
17,327,709


Page 9

 
RAYNSWAY PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

11.


Deferred taxation




2022


£






At beginning of year
(3,381,154)


Charged to profit or loss
(598,504)



At end of year
(3,979,658)

The provision for deferred taxation is made up as follows:

2022
2021
£
£


Revaluation of property
(3,979,658)
(3,381,154)

(3,979,658)
(3,381,154)


12.


Reserves

Other reserves

Other reserves consists of revaluation gains on investment property net of related deferred tax.


13.


Pension commitments

There were pension contributions of nil (2021:£10,552) in accordance with the defined benefit plan.


14.


Controlling party

Mr R C Perlhagen and Mr R W G Yerburgh are persons with significant control as on 31 December 2022.


15.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2022 was unqualified.

The audit report was signed on 8 March 2024 by Stephen Haffner (Senior Statutory Auditor) on behalf of Harris & Trotter LLP.

 
Page 10