Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-30false2022-12-01No description of principal activity22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11071632 2022-12-01 2023-11-30 11071632 2021-12-01 2022-11-30 11071632 2023-11-30 11071632 2022-11-30 11071632 2021-12-01 11071632 c:Director2 2022-12-01 2023-11-30 11071632 d:FreeholdInvestmentProperty 2022-12-01 2023-11-30 11071632 d:FreeholdInvestmentProperty 2023-11-30 11071632 d:FreeholdInvestmentProperty 2022-11-30 11071632 d:FreeholdInvestmentProperty 2 2022-12-01 2023-11-30 11071632 d:CurrentFinancialInstruments 2023-11-30 11071632 d:CurrentFinancialInstruments 2022-11-30 11071632 d:Non-currentFinancialInstruments 2023-11-30 11071632 d:Non-currentFinancialInstruments 2022-11-30 11071632 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 11071632 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 11071632 d:Non-currentFinancialInstruments d:AfterOneYear 2023-11-30 11071632 d:Non-currentFinancialInstruments d:AfterOneYear 2022-11-30 11071632 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-11-30 11071632 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-11-30 11071632 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-11-30 11071632 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-11-30 11071632 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-11-30 11071632 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-11-30 11071632 d:ShareCapital 2023-11-30 11071632 d:ShareCapital 2022-11-30 11071632 d:SharePremium 2023-11-30 11071632 d:SharePremium 2022-11-30 11071632 d:InvestmentPropertiesRevaluationReserve 2023-11-30 11071632 d:InvestmentPropertiesRevaluationReserve 2022-11-30 11071632 d:RetainedEarningsAccumulatedLosses 2023-11-30 11071632 d:RetainedEarningsAccumulatedLosses 2022-11-30 11071632 c:OrdinaryShareClass1 2022-12-01 2023-11-30 11071632 c:OrdinaryShareClass1 2023-11-30 11071632 c:FRS102 2022-12-01 2023-11-30 11071632 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 11071632 c:FullAccounts 2022-12-01 2023-11-30 11071632 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 11071632 d:EntityControlledByKeyManagementPersonnel1 2022-12-01 2023-11-30 11071632 d:EntityControlledByKeyManagementPersonnel1 2023-11-30 11071632 d:AcceleratedTaxDepreciationDeferredTax 2023-11-30 11071632 d:AcceleratedTaxDepreciationDeferredTax 2022-11-30 11071632 2 2022-12-01 2023-11-30 11071632 f:PoundSterling 2022-12-01 2023-11-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11071632









A & C PROPERTY ESTATES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
A & C PROPERTY ESTATES LIMITED
REGISTERED NUMBER: 11071632

STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
1,470,811
1,364,856

  
1,470,811
1,364,856

Current assets
  

Debtors: amounts falling due within one year
 5 
23
2,353

Cash at bank and in hand
 6 
65,064
118,409

  
65,087
120,762

Creditors: amounts falling due within one year
 7 
(88,364)
(76,838)

Net current (liabilities)/assets
  
 
 
(23,277)
 
 
43,924

Total assets less current liabilities
  
1,447,534
1,408,780

Creditors: amounts falling due after more than one year
 8 
(632,832)
(640,447)

Provisions for liabilities
  

Deferred tax
 10 
(53,900)
(29,500)

Net assets
  
760,802
738,833


Capital and reserves
  

Called up share capital 
 11 
10,000
10,000

Share premium account
  
585,699
585,699

Investment property reserve
  
161,604
88,545

Profit and loss account
  
3,499
54,589

  
760,802
738,833


Page 1

 
A & C PROPERTY ESTATES LIMITED
REGISTERED NUMBER: 11071632
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 NOVEMBER 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 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 on 27 August 2024.




C P Randall
Director

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

Page 2

 
A & C PROPERTY ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

A & C Property Estates Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is 3 Brook Business Centre, Cowley Mill Road, Uxbridge, UB8 2FX.
The company specialises in the investment and rental of real estate.

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 rent receivable by the company and is recognised in line with the period when it is due.

 
2.3

Foreign currency translation

Functional and presentation currency
The Company's functional and presentational currency is GBP
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each year end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at year end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of comprehensive income except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of comprehensive income within 'other operating income'.

 
2.4

Interest income

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

Page 3

 
A & C PROPERTY ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to the Statement of comprehensive income 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.

 
2.6

Borrowing costs

All borrowing costs are recognised in the Statement of comprehensive income in the year in which they are incurred.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income 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.

 
2.8

Investment property

Investment properties are properties held to earn rent and capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of the investment properties are included in the Statement of comprehensive income in the year in which they arise.

 
2.9

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.

Page 4

 
A & C PROPERTY ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.10

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.

 
2.11

Creditors

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.

 
2.12

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


Investment properties

£



Valuation


At 1 December 2022
1,364,856


Additions at cost
8,496


Surplus on revaluation
97,459



At 30 November 2023
1,470,811

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




5.


Debtors

2023
2022
£
£


Other debtors
23
2,353
Page 5

 
A & C PROPERTY ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

5.Debtors (continued)


23
2,353



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
65,064
118,409

65,064
118,409



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
24,969
24,969

Trade creditors
4,558
2,487

Corporation tax
-
4,400

Other creditors
55,837
41,982

Accruals and deferred income
3,000
3,000

88,364
76,838


Bank loans are secured on the assets to which they relate.


8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
632,832
640,447

632,832
640,447


Bank loans are secured on the assets to which they relate. 

Page 6

 
A & C PROPERTY ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
24,969
24,969

Amounts falling due 1-2 years

Bank loans
24,969
24,969

Amounts falling due 2-5 years

Bank loans
65,698
72,170

Amounts falling due after more than 5 years

Bank loans
542,165
543,308

657,801
665,416



10.


Deferred taxation




2023
2022


£

£






At beginning of year
29,500
56,600


Charged to Statement of comprehensive income
24,400
368


Utilised in year
-
(27,468)



At end of year
53,900
29,500

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Potential capital gains tax
53,900
29,500

53,900
29,500


11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



Page 7

 
A & C PROPERTY ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

11.Share capital (continued)

10,000 Ordinary shares of £1 each
10,000
10,000



12.


Related party transactions

Included within other creditors due within one year is an amount of £55,837 (2022 - £41,982) owed to the directors


13.


Controlling party

The ultimate controlling parties are the directors by virtue of their majority shareholding in the company.

 
Page 8