Caseware UK (AP4) 2023.0.135 2023.0.135 2023-09-302023-09-302022-10-01Residents property managementfalse45falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07671577 2022-10-01 2023-09-30 07671577 2021-10-01 2022-09-30 07671577 2023-09-30 07671577 2022-09-30 07671577 2021-10-01 07671577 c:Director4 2022-10-01 2023-09-30 07671577 d:CurrentFinancialInstruments 2023-09-30 07671577 d:CurrentFinancialInstruments 2022-09-30 07671577 d:Non-currentFinancialInstruments 2023-09-30 07671577 d:Non-currentFinancialInstruments 2022-09-30 07671577 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 07671577 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 07671577 d:RetainedEarningsAccumulatedLosses 2022-10-01 2023-09-30 07671577 d:RetainedEarningsAccumulatedLosses 2023-09-30 07671577 d:RetainedEarningsAccumulatedLosses 2021-10-01 2022-09-30 07671577 d:RetainedEarningsAccumulatedLosses 2022-09-30 07671577 d:RetainedEarningsAccumulatedLosses 2021-10-01 07671577 c:FRS102 2022-10-01 2023-09-30 07671577 c:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 07671577 c:FullAccounts 2022-10-01 2023-09-30 07671577 c:CompanyLimitedByGuarantee 2022-10-01 2023-09-30 07671577 e:PoundSterling 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure

Registered number: 07671577










CLOTHALL CORNER ESTATE MANAGEMENT LIMITED
(A company limited by guarantee)








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2023

 
CLOTHALL CORNER ESTATE MANAGEMENT LIMITED
 
(A company limited by guarantee)
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF CLOTHALL CORNER ESTATE MANAGEMENT LIMITED
FOR THE YEAR ENDED 30 SEPTEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Clothall Corner Estate Management Limited for the year ended 30 September 2023 which comprise  the Statement of financial position, the Statement of changes in equity and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Clothall Corner Estate Management Limited, as a body, in accordance with the terms of our engagement letter dated 16th June 2023Our work has been undertaken solely to prepare for your approval the financial statements of Clothall Corner Estate Management Limited and state those matters that we have agreed to state to the Board of directors of Clothall Corner Estate Management Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Clothall Corner Estate Management Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Clothall Corner Estate Management Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Clothall Corner Estate Management Limited. You consider that Clothall Corner Estate Management Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Clothall Corner Estate Management Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



McColes & Co (Herts) Ltd
 
Chartered Accountants
  
First Floor
28 Whitehorse Street
Baldock
Hertfordshire
SG7 6QQ
2 April 2024
Page 1

 
CLOTHALL CORNER ESTATE MANAGEMENT LIMITED
 
(A company limited by guarantee)
REGISTERED NUMBER: 07671577

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2023

2023
2022
£
£

  

Current assets
  

Debtors: amounts falling due after more than one year
 4 
331
-

Debtors: amounts falling due within one year
 4 
804
720

Cash at bank and in hand
 5 
1,403
1,015

  
2,538
1,735

Creditors: amounts falling due within one year
 6 
(114)
(240)

Net current assets
  
 
 
2,424
 
 
1,495

Total assets less current liabilities
  
2,424
1,495

  

Net assets
  
2,424
1,495


Capital and reserves
  

Profit and loss account
  
2,424
1,495

  
2,424
1,495


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 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 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 2 April 2024.




D J S Jordan
Director

The notes on pages 6 to 11 form part of these financial statements.
Page 2

 
CLOTHALL CORNER ESTATE MANAGEMENT LIMITED
 
(A company limited by guarantee)
REGISTERED NUMBER: 07671577
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2023


Page 3

 
CLOTHALL CORNER ESTATE MANAGEMENT LIMITED
 
(A company limited by guarantee)
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2023


Profit and loss account
Total equity

£
£

At 1 October 2022
1,495
1,495


Comprehensive income for the year

Profit for the year

929
929


Other comprehensive income for the year
-
-


Total comprehensive income for the year
929
929


Total transactions with owners
-
-


At 30 September 2023
2,424
2,424


The notes on pages 6 to 11 form part of these financial statements.

Page 4

 
CLOTHALL CORNER ESTATE MANAGEMENT LIMITED
 
(A company limited by guarantee)
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2022


Profit and loss account
Total equity

£
£

At 1 October 2021
1,460
1,460


Comprehensive income for the year

Profit for the year

35
35


Other comprehensive income for the year
-
-


Total comprehensive income for the year
35
35


Total transactions with owners
-
-


At 30 September 2022
1,495
1,495


The notes on pages 6 to 11 form part of these financial statements.

Page 5

 
CLOTHALL CORNER ESTATE MANAGEMENT LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.Accounting policies

 
1.1

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:

 
1.2

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

 
1.3

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 6

 
CLOTHALL CORNER ESTATE MANAGEMENT LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.Accounting policies (continued)

 
1.4

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.

 
1.5

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.

 
1.6

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.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

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.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 
Page 7

 
CLOTHALL CORNER ESTATE MANAGEMENT LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.Accounting policies (continued)


1.6
Financial instruments (continued)


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

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the
Page 8

 
CLOTHALL CORNER ESTATE MANAGEMENT LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.Accounting policies (continued)


1.6
Financial instruments (continued)

transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


2.


General information

The Company is a private company, limited by shares and registered in England.
Its registered number is: 07671577
Its Registered Office is:
Satchells Estate Agents
7 Brand Street
Hitchin
Hertfordshire
SG5 1HX

Page 9

 
CLOTHALL CORNER ESTATE MANAGEMENT LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

3.


Employees




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


        2023
        2022
            No.
            No.







Employees
4
5

Page 10

 
CLOTHALL CORNER ESTATE MANAGEMENT LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

4.


Debtors

2023
2022
£
£

Due after more than one year

Due from participating interests
331
-

331
-


2023
2022
£
£

Due within one year

Trade debtors
804
720

804
720



5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,403
1,015

1,403
1,015



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Accruals and deferred income
114
240

114
240




7.


Company status

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

 
Page 11