Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-312022-11-01falsePrinicipal activity of buying and selling of own real estate.44falsetrue 09990961 2022-11-01 2023-10-31 09990961 2021-11-01 2022-10-31 09990961 2023-10-31 09990961 2022-10-31 09990961 c:Director4 2022-11-01 2023-10-31 09990961 d:CurrentFinancialInstruments 2023-10-31 09990961 d:CurrentFinancialInstruments 2022-10-31 09990961 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 09990961 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 09990961 d:Non-currentFinancialInstruments d:AfterOneYear 2023-10-31 09990961 d:Non-currentFinancialInstruments d:AfterOneYear 2022-10-31 09990961 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-10-31 09990961 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-10-31 09990961 d:ShareCapital 2023-10-31 09990961 d:ShareCapital 2022-10-31 09990961 d:RetainedEarningsAccumulatedLosses 2023-10-31 09990961 d:RetainedEarningsAccumulatedLosses 2022-10-31 09990961 c:OrdinaryShareClass1 2022-11-01 2023-10-31 09990961 c:OrdinaryShareClass1 2023-10-31 09990961 c:OrdinaryShareClass1 2022-10-31 09990961 c:OrdinaryShareClass2 2022-11-01 2023-10-31 09990961 c:OrdinaryShareClass2 2023-10-31 09990961 c:OrdinaryShareClass2 2022-10-31 09990961 c:FRS102 2022-11-01 2023-10-31 09990961 c:Audited 2022-11-01 2023-10-31 09990961 c:FullAccounts 2022-11-01 2023-10-31 09990961 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 09990961 c:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 09990961 e:PoundSterling 2022-11-01 2023-10-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09990961









HENLEYROAD LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2023

 
HENLEYROAD LIMITED
REGISTERED NUMBER: 09990961

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
  
5,024,599
5,024,599

Debtors: amounts falling due within one year
 4 
319,997
337,042

Cash at bank and in hand
  
1,964
5,047

  
5,346,560
5,366,688

Creditors: amounts falling due within one year
 5 
(4,790,769)
(4,550,246)

Net current assets
  
 
 
555,791
 
 
816,442

Total assets less current liabilities
  
555,791
816,442

Creditors: amounts falling due after more than one year
  
(1,641,323)
(1,641,323)

  

Net liabilities
  
(1,085,532)
(824,881)


Capital and reserves
  

Called up share capital 
 7 
105
105

Profit and loss account
  
(1,085,637)
(824,986)

  
(1,085,532)
(824,881)


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 by: 





A Nixon
Director

Date: 29 July 2024

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 
HENLEYROAD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

The principal activity of Henleyroad Limited ("the Company") is that of property development.
The Company is a private company limited by shares and is incorporated in England and Wales.
The Registered Office address is 12th Floor, Capital House, 25 Chapel Street, London, NW1 5DH.

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

Going concern

The financial statements have been prepared on the going concern basis, which assumes that the Company will continue to trade for the foreseeable future, being a period of at least twelve months from the date of approval of these financial statements, and will be able to meet its debts as they fall due.
The company has net liabilities of £1,085,532 as at 31 October 2023. Included within creditors is an amount of £3,520,537 due to the parent undertaking. The company is reliant on the continued support of the parent undertaking which supplies its principal funding.
The directors are confident that this support will continue for at least the next twelve months from the date of signature of these accounts.

 
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:

Revenue represents the sale proceeds of property sales completed in the year. Revenue from sale of development property is recognised on unconditional exchange of contracts.
Other operating income includes the rental income received from properties held as stock in the year. It is recognised in the period to which it relates. 

 
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 2

 
HENLEYROAD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.5

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 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.

 
2.6

Work in progress

Work in progress is stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase.

At each reporting date, work in progress are assessed for impairment. If work in progress is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
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.

Page 3

 
HENLEYROAD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.8

Financial instruments

(i) Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently m easured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
(iii) Offsetting
Financial assets and liabilities are offset and 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).

Page 4

 
HENLEYROAD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

4.


Debtors

2023
2022
£
£


Trade debtors
(1,571)
(1,571)

Amounts owed by group undertakings
312,500
312,500

Other debtors
9,068
26,113

319,997
337,042



5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other loans
1,250,000
1,250,000

Trade creditors
12,997
19,938

Amounts owed to group undertakings
3,520,537
2,987,615

Corporation tax
735
85,842

Other creditors
-
351

Accruals and deferred income
6,500
206,500

4,790,769
4,550,246


For further information on "Other loans" please see Note 6.

Page 5

 
HENLEYROAD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

6.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Other loans
1,250,000
1,250,000


1,250,000
1,250,000



Amounts falling due after more than 5 years

Bank loans
1,641,323
1,641,323

1,641,323
1,641,323

2,891,323
2,891,323


The other loan falling due within one year is secured on the property in stock as well as a personal guarantee from two of the directors.
The bank loan falling due after more than 5 years are secured against the Property to which they relate to and are due for repayment in 14 years. Interest is charged at 4.15% for the first 5 years and 4% + LIBOR thereafter.


7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary A shares of £1 each
100
100
5 (2022 - 5) Ordinary B shares of £1 each
5
5

105

105



8.


Contingent liabilities

The Company forms part of a VAT group with other 100% controlled subsidiaries of Knowles Holdings Limited. The Company carries joint and several liability for all group VAT balances. 

Page 6

 
HENLEYROAD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

9.


Controlling party

The immediate parent undertaking is Knowles Property Group Limited, a company incorporated in England and Wales. The registered office address is 12th Floor, Capital House, 25 Chapel Street, London, NW1 5DH.
The ultimate parent undertaking is Knowles Holdings Limited, a company incorporated in England and Wales. Group financial statements and copies can be obtained from the registered office at 12th Floor, Capital House, 25 Chapel Street, London, NW1 5DH


10.


Auditors' information

The auditors' report on the financial statements for the year ended 31 October 2023 was unqualified.

The audit report was signed on 29 July 2024 by Nick Bishop FCA (Senior statutory auditor) on behalf of BKL Audit LLP.

 
Page 7