Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31false2022-04-01No description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10701921 2022-04-01 2023-03-31 10701921 2021-04-01 2022-03-31 10701921 2023-03-31 10701921 2022-03-31 10701921 c:Director1 2022-04-01 2023-03-31 10701921 d:FreeholdInvestmentProperty 2022-04-01 2023-03-31 10701921 d:FreeholdInvestmentProperty 2023-03-31 10701921 d:CurrentFinancialInstruments 2023-03-31 10701921 d:CurrentFinancialInstruments 2022-03-31 10701921 d:Non-currentFinancialInstruments 2023-03-31 10701921 d:Non-currentFinancialInstruments 2022-03-31 10701921 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10701921 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 10701921 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 10701921 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 10701921 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 10701921 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-03-31 10701921 d:ShareCapital 2023-03-31 10701921 d:ShareCapital 2022-03-31 10701921 d:RetainedEarningsAccumulatedLosses 2023-03-31 10701921 d:RetainedEarningsAccumulatedLosses 2022-03-31 10701921 c:FRS102 2022-04-01 2023-03-31 10701921 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 10701921 c:FullAccounts 2022-04-01 2023-03-31 10701921 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 10701921 d:FreeholdInvestmentProperty d:PreviouslyStatedAmount 2022-03-31 iso4217:GBP xbrli:pure

Registered number: 10701921









S&C PROPERTY LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
S&C PROPERTY LTD
REGISTERED NUMBER: 10701921

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
2,840,474
1,722,483

  
2,840,474
1,722,483

Current assets
  

Debtors: amounts falling due within one year
  
1,022
21

Cash at bank and in hand
 6 
25,018
11,374

  
26,040
11,395

Creditors: amounts falling due within one year
 7 
(791,663)
(480,517)

Net current liabilities
  
 
 
(765,623)
 
 
(469,122)

Total assets less current liabilities
  
2,074,851
1,253,361

Creditors: amounts falling due after more than one year
 8 
(2,040,443)
(1,238,688)

  

Net assets
  
34,408
14,673


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
34,308
14,573

  
34,408
14,673


Page 1

 
S&C PROPERTY LTD
REGISTERED NUMBER: 10701921
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 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 income and retained earnings 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 30 December 2023.


Hari Nathan Prakash
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
S&C PROPERTY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

S&C Property Ltd is a company limited by shares, incorporated in England and Wales. Its registered office is 20-22 Wenlock Road, London, England, N1 7GU.

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

Finance costs

Finance costs are charged to the Statement of income and retained earnings 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 the Statement of income and retained earnings in the year in which they are incurred.

Page 3

 
S&C PROPERTY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in the Statement of income and retained earnings, 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.

 
2.6

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 the Statement of income and retained earnings.

 
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 like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of income and retained earnings.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

Page 4

 
S&C PROPERTY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.10
Financial instruments (continued)

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange derivatives.


3.


Employees

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


4.


Investment property


Investment property

£



Valuation


At 1 April 2022
1,722,483


Additions at cost
1,117,991



At 31 March 2023
2,840,474









5.


Debtors

2023
2022
£
£


Other debtors
1,022
21

1,022
21


Page 5

 
S&C PROPERTY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
25,018
11,374

25,018
11,374



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
7,395
3,859

Other creditors
778,368
471,858

Accruals
5,900
4,800

791,663
480,517



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
2,040,443
1,238,688

2,040,443
1,238,688



9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£




Amounts falling due after more than 5 years

Bank loans
2,040,443
1,238,688


 
Page 6