Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31No description of principal activityThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2023-01-01false22falsetrue 04104552 2023-01-01 2023-12-31 04104552 2022-01-01 2022-12-31 04104552 2023-12-31 04104552 2022-12-31 04104552 c:Director1 2023-01-01 2023-12-31 04104552 d:PlantMachinery 2023-01-01 2023-12-31 04104552 d:PlantMachinery 2023-12-31 04104552 d:PlantMachinery 2022-12-31 04104552 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04104552 d:FreeholdInvestmentProperty 2023-12-31 04104552 d:FreeholdInvestmentProperty 2022-12-31 04104552 d:CurrentFinancialInstruments 2023-12-31 04104552 d:CurrentFinancialInstruments 2022-12-31 04104552 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 04104552 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 04104552 d:ShareCapital 2023-12-31 04104552 d:ShareCapital 2022-12-31 04104552 d:OtherMiscellaneousReserve 2023-12-31 04104552 d:OtherMiscellaneousReserve 2022-12-31 04104552 d:RetainedEarningsAccumulatedLosses 2023-12-31 04104552 d:RetainedEarningsAccumulatedLosses 2022-12-31 04104552 c:FRS102 2023-01-01 2023-12-31 04104552 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04104552 c:FullAccounts 2023-01-01 2023-12-31 04104552 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04104552 2 2023-01-01 2023-12-31 04104552 6 2023-01-01 2023-12-31 04104552 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 04104552 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 04104552 d:OtherDeferredTax 2023-12-31 04104552 d:OtherDeferredTax 2022-12-31 04104552 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 04104552









LIMETREE PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
LIMETREE PROPERTIES LIMITED
REGISTERED NUMBER: 04104552

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,236
2,795

Investment property
 5 
4,130,850
4,130,850

  
4,133,086
4,133,645

Current assets
  

Debtors: amounts falling due within one year
 6 
18,505
-

Current asset investments
 7 
2,004,441
681,042

Cash at bank and in hand
 8 
436,113
1,068,040

  
2,459,059
1,749,082

Creditors: amounts falling due within one year
 9 
(56,832)
(555,123)

Net current assets
  
 
 
2,402,227
 
 
1,193,959

Total assets less current liabilities
  
6,535,313
5,327,604

Provisions for liabilities
  

Deferred tax
 10 
(532,618)
(487,113)

  
 
 
(532,618)
 
 
(487,113)

Net assets
  
6,002,695
4,840,491


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Other reserves
  
2,744,067
2,744,067

Profit and loss account
  
3,257,628
2,095,424

  
6,002,695
4,840,491


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.

Page 1

 
LIMETREE PROPERTIES LIMITED
REGISTERED NUMBER: 04104552
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

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 by: 





................................................
D Landy
Director
Date: 31 July 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
LIMETREE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Limetree Properties Limited is a company limited by shares incorporated in England within the United Kingdom. The address of the registered office is Cinderella Path 153 North End Road, Golders Green, London, NW11 7HZ.
The company's principal activity is the letting of a property.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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 comprises revenue recognised by the company in respect of rents received during the year, exclusive of Value Added Tax and trade discounts.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
LIMETREE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

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 balance sheet 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 balance sheet 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 balance sheet date.

 
2.5

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
Reducing Balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
LIMETREE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

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 income and retained earnings.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.8

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.

 
2.9

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.

 
2.10

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.

Page 5

 
LIMETREE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees




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


4.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 January 2023
36,168



At 31 December 2023

36,168



Depreciation


At 1 January 2023
33,373


Charge for the year on owned assets
559



At 31 December 2023

33,932



Net book value



At 31 December 2023
2,236



At 31 December 2022
2,795

Page 6

 
LIMETREE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Investment property


Freehold investment property

£



Valuation


At 1 January 2023
4,130,850



At 31 December 2023
4,130,850

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



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
1,386,783
1,386,783

1,386,783
1,386,783


6.


Debtors

2023
2022
£
£


Other debtors
18,505
-

18,505
-



7.


Current asset investments

2023
2022
£
£

Listed investments
2,004,441
681,042

2,004,441
681,042


Page 7

 
LIMETREE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
436,113
1,068,040

436,113
1,068,040



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
54,942
41,608

Other creditors
-
511,715

Accruals and deferred income
1,890
1,800

56,832
555,123



10.


Deferred taxation




2023


£






At beginning of year
(487,113)


Charged to profit or loss
(45,505)



At end of year
(532,618)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(25,673)
19,832

Potential gain on disposal of indexed properties
(506,945)
(506,945)

(532,618)
(487,113)


11.


Related party transactions

At the balance sheet date, £Nil (2022: £510,037) were due to companies under common control.

 
Page 8