Caseware UK (AP4) 2023.0.135 2023.0.135 Other letting and operating of own or leased real estatetrue2023-01-01false22falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. NI041570 2023-01-01 2023-12-31 NI041570 2022-01-01 2022-12-31 NI041570 2023-12-31 NI041570 2022-12-31 NI041570 c:CompanySecretary1 2023-01-01 2023-12-31 NI041570 c:Director1 2023-01-01 2023-12-31 NI041570 c:Director2 2023-01-01 2023-12-31 NI041570 c:RegisteredOffice 2023-01-01 2023-12-31 NI041570 c:Agent1 2023-01-01 2023-12-31 NI041570 d:FurnitureFittings 2023-01-01 2023-12-31 NI041570 d:ComputerEquipment 2023-01-01 2023-12-31 NI041570 d:FreeholdInvestmentProperty 2023-12-31 NI041570 d:FreeholdInvestmentProperty 2022-12-31 NI041570 d:CurrentFinancialInstruments 2023-12-31 NI041570 d:CurrentFinancialInstruments 2022-12-31 NI041570 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 NI041570 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 NI041570 d:ShareCapital 2023-12-31 NI041570 d:ShareCapital 2022-12-31 NI041570 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 NI041570 d:RetainedEarningsAccumulatedLosses 2023-12-31 NI041570 d:RetainedEarningsAccumulatedLosses 2022-12-31 NI041570 c:OrdinaryShareClass1 2023-01-01 2023-12-31 NI041570 c:OrdinaryShareClass1 2023-12-31 NI041570 c:OrdinaryShareClass1 2022-12-31 NI041570 c:FRS102 2023-01-01 2023-12-31 NI041570 c:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 NI041570 c:FullAccounts 2023-01-01 2023-12-31 NI041570 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 NI041570 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-01-01 2023-12-31 NI041570 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Unaudited Financial Statements
Maplewood Estates Limited
For the year ended 31 December 2023





































Registered number: NI041570

 
Maplewood Estates Limited
 

Company Information


Directors
Mr C Kennedy 
Mr N Kennedy 




Company secretary
Mr C Kennedy



Registered number
NI041570



Registered office
Drumlin Ridge
14a Lough Road

Lisburn

Antrim

BT27 6TS




Accountants
Grant Thornton (NI) LLP
Chartered Accountants

12 - 15 Donegall  Square West

Belfast

BT1 6JH




Bankers
Danske Bank
P.O. Box 183

Donegall Square West

Belfast

Co. Antrim

BT1 6JS





 
Maplewood Estates Limited
 

Contents



Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8


  
img1930.png
Independent Accountant's Report to the directors of the unaudited financial statements of Maplewood Estates Limited for the year ended 31 December 2023

In order to assist you fulfil your duties under the Companies Act 2006, we have compiled the financial statements of Maplewood Estates Limited for the year ended 31 December 2023, the Statement of comprehensive income, the Balance sheet, the statement of changes in equity and the related notes to the financial statements, including a summary of significant accounting policies, from the company's accounting records and from information and explanations you have given to us.

The financial statements have been prepared on the basis set out in the notes to the financial statements.

This report is made solely to the directors of Maplewood Estates Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely that we might compile the financial statements that we have been engaged to compile, report to the company's directors that we have done so and state those matters that we have agreed to state to the directors of Maplewood Estates Limited, as a body, in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Maplewood Estates Limited and its directors, as a body, for our work or for this report.


We have carried out this engagement in accordance with the technical guidance issued by Chartered Accountants Ireland ("the Institute") and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.

You have approved the financial statements for the year ended 31 December 2023 and you have acknowledged on the Balance sheet as at 31 December 2023 your duty to ensure that Maplewood Estates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view in accordance with the Companies Act 2006. You consider that Maplewood Estates Limited is exempt from the statutory audit requirement for the year ended 31 December 2023.

We have not been instructed to carry out an audit or review the financial statements of Maplewood Estates 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. 




  


Grant Thornton (NI) LLP

Chartered Accountants
12 - 15 Donegall  Square West
Belfast
BT1 6JH







Date:   18 April 2024
Page 1

 
Maplewood Estates Limited
Registered number:NI041570

Balance sheet
As at 31 December 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 5 
986,737
986,737

  
986,737
986,737

Current assets
  

Debtors: amounts falling due within one year
 6 
8,624
7,613

Cash at bank and in hand
 7 
25,574
27,930

  
34,198
35,543

Creditors: amounts falling due within one year
 8 
(717,779)
(723,303)

Net current liabilities
  
 
 
(683,581)
 
 
(687,760)

Total assets less current liabilities
  
303,156
298,977

  

Net assets
  
303,156
298,977


Capital and reserves
  

Called up share capital 
 9 
3
3

Profit and loss account
 10 
303,153
298,974

  
303,156
298,977


Page 2

 
Maplewood Estates Limited
Registered number:NI041570

Balance sheet (continued)
As at 31 December 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 on 18 April 2024.




Mr C Kennedy
Director

Page 3

 
Maplewood Estates Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

1.


General information

Maplewood Estates Limited is a company limited by shares and incorporated in Northern Ireland. The registered office is Dumlin Ridge 14a, Lough Road Lisburn BT27 6TS. 
The principal activity of the company is letting and operating of own or leased real estate.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
The financial statements are presented in Sterling (£).

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have assessed that there are adequate resources to meet the ongoing costs of the business for a minimum of 12 months from the date of signing the financial statements. For this reason the financial statements have been prepared on a going concern basis which presumes the realisation of assets and liabilities in the normal course of business.

 
2.3

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.

Page 4

 
Maplewood Estates Limited
 

Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.4

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Fixtures & fittings
-
20%
reducing balance
Computer equipment
-
33%
 straight line

 
2.5

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 the Statement of comprehensive income.

 
2.6

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.

 
2.7

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.

 
2.8

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.

 
2.9

Taxation

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.

Page 5

 
Maplewood Estates Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

3.


Judgements in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are required when applying accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The company makes estimates and assumptions concerning the future, which can involve a high degree of judgement or complexity. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:
Market value of investment properties
Estimates are made in respect of the market value of investment properties. When assessing the market value of these assets, factors including current rent receivable and available data on current market yields and activity are considered.


4.


Employees

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


5.


Investment property


Freehold investment property

£



Valuation


At 1 January 2023
986,737



At 31 December 2023
986,737

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





6.


Debtors

2023
2022
£
£


Other debtors
1,149
-

Prepayments and accrued income
7,475
7,613

8,624
7,613


Page 6

 
Maplewood Estates Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
25,574
27,930

25,574
27,930



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
176
1,440

Other taxation and social security
-
1,202

Other creditors
700,703
703,861

Accruals and deferred income
16,900
16,800

717,779
723,303


Northern Bank Ltd holds a floating charge which covers all the property, undertaking of the company and all book debts.
Trade and other creditors are payable at various dates over the coming months in accordance with the suppliers’ usual and customary credit terms. Corporation tax and other taxes including social insurance are repayable at various dates over the coming months in accordance with the applicable statutory provisions.


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



3 (2022 - 3) Ordinary shares of £1.00 each
3
3



10.


Reserves

Profit & loss account

This includes all current and prior period retained profits and losses. 

Page 7

 
Maplewood Estates Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

11.


Related party transactions

The company had the following related party transactions:
In the year the directors advanced net funds of £3,154 to the company. At the balance sheet date the amount owed to the directors was £700,703 (2022 - £703,861). The loan is unsecured, interest free and repayable upon demand.


Page 8