Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-3142023-03-16truefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.0true 14735362 2023-03-15 14735362 2023-03-16 2024-03-31 14735362 2022-03-16 2023-03-15 14735362 2024-03-31 14735362 c:Director4 2023-03-16 2024-03-31 14735362 d:FreeholdInvestmentProperty 2023-03-16 2024-03-31 14735362 d:FreeholdInvestmentProperty 2024-03-31 14735362 d:FreeholdInvestmentProperty 2023-03-15 14735362 d:CurrentFinancialInstruments 2024-03-31 14735362 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 14735362 d:ShareCapital 2024-03-31 14735362 d:RetainedEarningsAccumulatedLosses 2023-03-16 2024-03-31 14735362 d:RetainedEarningsAccumulatedLosses 2024-03-31 14735362 c:OrdinaryShareClass1 2023-03-16 2024-03-31 14735362 c:OrdinaryShareClass1 2024-03-31 14735362 c:OrdinaryShareClass2 2023-03-16 2024-03-31 14735362 c:OrdinaryShareClass2 2024-03-31 14735362 c:OrdinaryShareClass3 2023-03-16 2024-03-31 14735362 c:OrdinaryShareClass3 2024-03-31 14735362 c:OrdinaryShareClass4 2023-03-16 2024-03-31 14735362 c:OrdinaryShareClass4 2024-03-31 14735362 c:FRS102 2023-03-16 2024-03-31 14735362 c:AuditExempt-NoAccountantsReport 2023-03-16 2024-03-31 14735362 c:FullAccounts 2023-03-16 2024-03-31 14735362 c:PrivateLimitedCompanyLtd 2023-03-16 2024-03-31 14735362 2 2023-03-16 2024-03-31 14735362 e:PoundSterling 2023-03-16 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 14735362










VIADEX PROPCO LTD

UNAUDITED
FINANCIAL STATEMENTS

FOR THE PERIOD ENDED
31 MARCH 2024
 






 



 






 
VIADEX PROPCO LTD
REGISTERED NUMBER: 14735362

BALANCE SHEET
AS AT 31 MARCH 2024

2024
Note
£

Fixed assets
  

Investment property
 4 
1,459,500

Current assets
  

Debtors: amounts falling due within one year
 5 
10,603

Cash at bank and in hand
 6 
128,182

  
138,785

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(1,515,905)

Net current liabilities
  
 
 
(1,377,120)

Total assets less current liabilities
  
82,380

  

Net assets
  
82,380


Capital and reserves
  

Called up share capital 
 8 
10,602

Profit and loss account
 9 
71,778

Shareholders' funds
  
82,380


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 period 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 by: 



Karen Read
Director

Date: 27 August 2024

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
VIADEX PROPCO LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

Viadex Propco Ltd is a private company, limited by shares and incorporated in England and Wales, registration number 14735362. The registered office address is 103 Manor Road South, Esher, Surrey, England, KT10 0QB. 

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 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.

These financial statements are presented in sterling, which is the functional currency of the Company and rounded to the nearest £.
The Company was incorporated on 16 March 2023 and began trading on that date. The financial statements therefore cover the period of account from 16 March 2023 to 31 March 2024.

The following principal accounting policies have been applied:

  
2.2

Compliance with accounting standards

The financial statements have been prepared using FRS102, the financial reporting standard applicable in the UK and Republic of Ireland, including the disclosure and presentation requirements of Section 1A, applicable to small companies. There were no material departures from that standard.

 
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.

 
2.4

Interest income

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

Page 2

 
VIADEX PROPCO LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Borrowing costs

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

 
2.6

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.

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers 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. 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

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless
Page 3

 
VIADEX PROPCO LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.11
Financial instruments (continued)

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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The Company has no employees other than the Directors, who did not receive any remuneration.

Page 4

 
VIADEX PROPCO LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

4.


Investment property


Freehold investment property

£



Valuation


At 16 March 2023
-


Additions at cost
1,459,500



At 31 March 2024
1,459,500






5.


Debtors

2024
£


Other debtors
1,147

Called up share capital not paid
9,456

10,603



6.


Cash and cash equivalents

2024
£

Cash at bank and in hand
128,182



7.


Creditors: Amounts falling due within one year

2024
£

Bank loans
1,459,500

Corporation tax
22,924

Other taxation and social security
5,163

Other creditors
972

Accruals and deferred income
27,346

1,515,905


Page 5

 
VIADEX PROPCO LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

8.


Share capital

2024
£
Authorised, allotted, called up and fully paid


9,000 Ordinary A shares of £1.00 each
9,000
1,136 Ordinary B shares of £1.00 each
1,136
400 Ordinary C shares of £1.00 each
400
66 Ordinary D shares of £1.00 each
66

10,602


During the period, the Company issued 10,602 ordinary shares at par value.


9.


Reserves

Profit and loss account

The profit and loss account represents cumulative profits and losses net of all adjustments.


10.


Related party transactions

At the balance sheet date £972 was owed to the Directors by the Company. Loans payable to the Directors are interest free and repayable on demand.


Page 6