Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-3107222645false2023-01-01false22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07222645 2023-01-01 2023-12-31 07222645 2022-01-01 2022-12-31 07222645 2023-12-31 07222645 2022-12-31 07222645 2022-01-01 07222645 c:Director2 2023-01-01 2023-12-31 07222645 d:FreeholdInvestmentProperty 2023-12-31 07222645 d:FreeholdInvestmentProperty 2022-12-31 07222645 d:FreeholdInvestmentProperty 2 2023-01-01 2023-12-31 07222645 d:CurrentFinancialInstruments 2023-12-31 07222645 d:CurrentFinancialInstruments 2022-12-31 07222645 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 07222645 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 07222645 d:ShareCapital 2023-01-01 2023-12-31 07222645 d:ShareCapital 2023-12-31 07222645 d:ShareCapital 2022-01-01 2022-12-31 07222645 d:ShareCapital 2022-12-31 07222645 d:ShareCapital 2022-01-01 07222645 d:RevaluationReserve 2023-01-01 2023-12-31 07222645 d:RevaluationReserve 2023-12-31 07222645 d:RevaluationReserve 2022-01-01 2022-12-31 07222645 d:RevaluationReserve 2022-12-31 07222645 d:RevaluationReserve 2022-01-01 07222645 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 07222645 d:RetainedEarningsAccumulatedLosses 2023-12-31 07222645 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 07222645 d:RetainedEarningsAccumulatedLosses 2022-12-31 07222645 d:RetainedEarningsAccumulatedLosses 2022-01-01 07222645 c:OrdinaryShareClass1 2023-01-01 2023-12-31 07222645 c:OrdinaryShareClass1 2023-12-31 07222645 c:FRS102 2023-01-01 2023-12-31 07222645 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 07222645 c:FullAccounts 2023-01-01 2023-12-31 07222645 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07222645 2 2023-01-01 2023-12-31 07222645 d:OtherDeferredTax 2023-12-31 07222645 d:OtherDeferredTax 2022-12-31 07222645 f:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 07222645














HANLING PROPERTIES LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
HANLING PROPERTIES LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Statement of changes in equity
 
3
Notes to the financial statements
 
4 - 8


 
HANLING PROPERTIES LIMITED
REGISTERED NUMBER:07222645

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
8,850,000
9,435,000

  
8,850,000
9,435,000

Current assets
  

Debtors: amounts falling due within one year
 5 
14,080
200

Cash at bank and in hand
 6 
2,642,079
2,434,992

  
2,656,159
2,435,192

Creditors: amounts falling due within one year
 7 
(2,468,559)
(439,928)

Net current assets
  
 
 
187,600
 
 
1,995,264

Total assets less current liabilities
  
9,037,600
11,430,264

Provisions for liabilities
  

Deferred tax
 8 
(1,004,475)
(1,150,725)

  
 
 
(1,004,475)
 
 
(1,150,725)

Net assets
  
8,033,125
10,279,539


Capital and reserves
  

Called up share capital 
 9 
1
1

Revaluation reserve
  
5,096,250
5,535,000

Profit and loss account
  
2,936,874
4,744,538

  
8,033,125
10,279,539


1

 
HANLING PROPERTIES LIMITED
REGISTERED NUMBER:07222645
    
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 profit and loss account 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 13 August 2024.




K L Caplan
Director

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

2

 
HANLING PROPERTIES LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£


At 1 January 2022
1
7,983,000
4,366,681
12,349,682


Comprehensive income for the year

Loss for the year
-
-
(2,070,143)
(2,070,143)
Total comprehensive income for the year
-
-
(2,070,143)
(2,070,143)

Transfer to/from profit and loss account
-
(2,448,000)
2,448,000
-



At 1 January 2023
1
5,535,000
4,744,538
10,279,539


Comprehensive income for the year

Loss for the year
-
-
(246,414)
(246,414)
Total comprehensive income for the year
-
-
(246,414)
(246,414)


Contributions by and distributions to owners

Dividends paid
-
-
(2,000,000)
(2,000,000)

Transfer to/from profit and loss account
-
(438,750)
438,750
-


At 31 December 2023
1
5,096,250
2,936,874
8,033,125


3

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

1.


General information

The principal activity of the company continued to be that of property investment.
 
The company is a private company, limited by shares registered in England and Wales. The registered address of the company is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE. The address of its principal place of business is 145-147 Boston Road, London, W7 3SA.
 
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 company's functional and presentational currency is pound sterling.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover 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. Turnover 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:

Rental income
Rental income from a contract is recognised in the period in which the tenancy is provided in
accordance with the stage of completion of the contract when both of the following conditions are
satisfied:
 
the amount of turnover can be measured reliably; and
it is probable that the company will receive the consideration due under the contrac

 
2.3

Interest income

Interest income is recognised in statement of comprehensive income using the effective interest method.   

 
2.4

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

4

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

2.Accounting policies (continued)

 
2.5

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 corporation 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.

 
2.6

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 comprehensive income.

 
2.7

Debtors

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

 
2.8

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.

 
2.9

 Creditors

Short-term creditors are measured at the transaction price. 

 
2.10

 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.

5

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

2.Accounting policies (continued)

 
2.11

 Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors and loans to related party.

 
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.


Investment property


Freehold investment property

£



Valuation


At 1 January 2023
9,435,000


Deficit on revaluation
(585,000)



At 31 December 2023
8,850,000

The 2023 valuations were made by Vokins Chartered Surveyors, on an open market value for existing use basis.


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


2023
2022
£
£


Historic cost
3,900,000
3,900,000


5.


Debtors

2023
2022
£
£


Prepayments
14,080
200


6

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

6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
2,642,079
2,434,992



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
2,248,204
235,583

Corporation tax
59,885
44,345

Other taxation and social security
44,320
44,400

Accruals
116,150
115,600

2,468,559
439,928



8.


Deferred taxation




2023
2022


£

£






At beginning of year
1,150,725
1,339,671


Profit and loss account movement
(146,250)
(188,946)



At end of year
1,004,475
1,150,725

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Capital gain differences
1,004,475
1,150,725


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 Ordinary share of £1
1
1


7

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

10.


Pension commitments


The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £20,000 (2022 - £20,000). 


11.


Related party transactions

No disclosure has been made of transactions with other wholly owned group companies in accordance with FRS 102 Section 1A paragraph 1AC.35.

 
8