Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-31false222022-09-01falseNo description of principal activityfalsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03688567 2022-09-01 2023-08-31 03688567 2021-09-01 2022-08-31 03688567 2023-08-31 03688567 2022-08-31 03688567 c:Director1 2022-09-01 2023-08-31 03688567 d:FreeholdInvestmentProperty 2022-09-01 2023-08-31 03688567 d:FreeholdInvestmentProperty 2023-08-31 03688567 d:FreeholdInvestmentProperty 2022-08-31 03688567 d:CurrentFinancialInstruments 2023-08-31 03688567 d:CurrentFinancialInstruments 2022-08-31 03688567 d:Non-currentFinancialInstruments 2023-08-31 03688567 d:Non-currentFinancialInstruments 2022-08-31 03688567 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 03688567 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 03688567 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 03688567 d:Non-currentFinancialInstruments d:AfterOneYear 2022-08-31 03688567 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-08-31 03688567 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-08-31 03688567 d:ShareCapital 2023-08-31 03688567 d:ShareCapital 2022-08-31 03688567 d:RevaluationReserve 2023-08-31 03688567 d:RevaluationReserve 2022-08-31 03688567 d:OtherMiscellaneousReserve 2022-09-01 2023-08-31 03688567 d:RetainedEarningsAccumulatedLosses 2023-08-31 03688567 d:RetainedEarningsAccumulatedLosses 2022-08-31 03688567 c:OrdinaryShareClass1 2022-09-01 2023-08-31 03688567 c:OrdinaryShareClass1 2023-08-31 03688567 c:OrdinaryShareClass1 2022-08-31 03688567 c:FRS102 2022-09-01 2023-08-31 03688567 c:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 03688567 c:FullAccounts 2022-09-01 2023-08-31 03688567 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 03688567 2 2022-09-01 2023-08-31 03688567 d:AcceleratedTaxDepreciationDeferredTax 2023-08-31 03688567 d:AcceleratedTaxDepreciationDeferredTax 2022-08-31 03688567 e:PoundSterling 2022-09-01 2023-08-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 03688567









CASLIN LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2023

 
CASLIN LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF CASLIN LIMITED
FOR THE YEAR ENDED 31 AUGUST 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 Caslin Limited for the year ended 31 August 2023 which comprise  the Statement of Financial Position 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 director of Caslin Limited in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Caslin Limited and state those matters that we have agreed to state to the director of Caslin Limited 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 Caslin Limited and its director for our work or for this report. 

It is your duty to ensure that Caslin 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 loss of Caslin Limited. You consider that Caslin 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 Caslin 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.



  



Nyman Libson Paul LLP
Chartered Accountants
124 Finchley Road
London
NW3 5JS
26 June 2024
Page 1

 
CASLIN LIMITED
REGISTERED NUMBER: 03688567

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
2,520,072
3,520,072

Current assets
  

Debtors: amounts falling due within one year
 5 
924
1,193

Cash at bank and in hand
  
7,369
7,602

  
8,293
8,795

Current liabilities
  

Creditors: Amounts Falling Due Within One Year
 6 
(331,822)
(930,930)

Net current liabilities
  
 
 
(323,529)
 
 
(922,135)

Total assets less current liabilities
  
2,196,543
2,597,937

Creditors: amounts falling due after more than one year
 7 
-
(250,000)

Provisions for liabilities
  

Deferred tax
  
(320,221)
(327,926)

Net assets
  
1,876,322
2,020,011


Capital and reserves
  

Called up share capital 
 10 
2
2

Revaluation reserve
 11 
1,453,758
1,551,865

Profit and loss account
 11 
422,562
468,144

  
1,876,322
2,020,011


Page 2

 
CASLIN LIMITED
REGISTERED NUMBER: 03688567
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2023

The director considers 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 director acknowledges his 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 26 June 2024.




A J Pozner
Director

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
CASLIN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

Caslin Limted is a private company limited by shares and incorporated in England. Its registered office 124 Finchley Road, London, NW3 5JS. The address of its principal place of business is 393-395 Hendon Way, London, NW4 3LP.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

  
2.2

Revenue

Turnover represents rental income. Turnover is recognised at the fair value of the consideration received or receivable for the rental space provided in the normal course of business. The fair value of consideration takes into account trade discounts and rebates.

 
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.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
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.
Page 4

 
CASLIN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)


2.6
Current and deferred taxation (continued)


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

Investment property

Investment property is carried at fair value determined annually 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.

  
2.8

Debtors

Short term debtors are measured at transaction price, less any impairment.

  
2.9

Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

 
2.10

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.

 
2.11

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.

 
2.12

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 and loans to related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid
Page 5

 
CASLIN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)


2.12
Financial instruments (continued)

or received.

  
2.13

Functional currency

The company's functional and presentational currency is GBP.


3.


Employees

2023
2022
£
£

Wages and salaries
-
3,000

-
3,000


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


4.


Investment properties


Investment properties

£



Valuation


At 1 September 2022
3,520,072


Disposals
(1,000,000)



At 31 August 2023
2,520,072

Investment properties comprises of freehold and long leasehold properties. The fair value of the investment properties have been arrived at on the basis of a valuation carried out on 31 August 2023 by directors. This valuation was based on third party professional input.



At 31 August 2023



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

2023
2022
£
£


Historic cost
810,404
1,706,133

Page 6

 
CASLIN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

5.


Debtors

2023
2022
£
£


Prepayments
924
1,193



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
250,000
566,000

Other taxation and social security
29,264
28,700

Other creditors
45,828
327,830

Accruals and deferred income
6,730
8,400

331,822
930,930



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
-
250,000



8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
250,000
566,000


250,000
566,000


Amounts falling due 2-5 years

Bank loans
-
250,000



The bank loans are secured by a first legal charge over the properties owned by the company and a debenture over the whole assets of the company.

Page 7

 
CASLIN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

9.


Deferred taxation




2023


£






At beginning of year
(327,926)


Charged to profit or loss
7,705



At end of year
(320,221)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
320,221
327,926


10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



2 (2022 - 2) Ordinary shares of £1.00 each
2
2



11.


Reserves

Other reserves

Includes amounts revalued on investment properties. This unrealised revaluation surplus does not form part of profits available for distribution. Provision for deferred tax on the surplus on revaluation of investment properties has been made in the financial statements and is included within this account.


12.


Related party transactions

During the year the company paid interest of £24,000 (2022: £24,000) on a loan amounting to £45,828 (2022: £327,830) to Hendon Way Motors Limited, a company owned by A J Pozner. 
Hendon Way Motors Limited charged a management fee amounting to £5,801 (2022: £8,550) to manage the company's properties.

 
Page 8