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Registered number: 12996234









3R BUILDINGS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
3R BUILDINGS LIMITED
REGISTERED NUMBER: 12996234

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
656,969
386,482

  
656,969
386,482

Current assets
  

Cash at bank and in hand
  
11
3,743

  
11
3,743

Creditors: amounts falling due within one year
 5 
(414,708)
(241,855)

Net current liabilities
  
 
 
(414,697)
 
 
(238,112)

Total assets less current liabilities
  
242,272
148,370

Creditors: amounts falling due after more than one year
 6 
(242,800)
(142,800)

Provisions for liabilities
  

Deferred tax
 8 
(6,903)
(6,903)

  
 
 
(6,903)
 
 
(6,903)

Net liabilities
  
(7,431)
(1,333)


Capital and reserves
  

Called up share capital 
 9 
90
90

Profit and loss account
  
(7,521)
(1,423)

  
(7,431)
(1,333)


Page 1

 
3R BUILDINGS LIMITED
REGISTERED NUMBER: 12996234
    
BALANCE SHEET (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 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 27 August 2024.




Rajinder Sood
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
3R BUILDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

The Company is a private company, limited by shares, incorporated and domiciled in England within the United Kingdom, registration number 12996234.  The Company's registered office is Unit 3, Block B, Harriot Drive, Heathcote Industrial Estate, Warwick, England, CV34 6TJ.
The financial statements are presented in sterling which is the functional currency of the company and the financial statements are rounded to the nearest £1.

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.

Cash flow
Under Financial Reporting Standard 102, the company is exempt from the requirement to prepare a cash flow statement on the grounds that it qualifies as a small company.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have prepared the accounts on a going concern basis.

Page 3

 
3R BUILDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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

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.

Page 4

 
3R BUILDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
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 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.

 
2.7

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

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.

 
2.9

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.
Page 5

 
3R BUILDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
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.


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 December 2022
386,482


Additions at cost
270,487



At 30 November 2023
656,969

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




Page 6

 
3R BUILDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
184,725
90,000

Amounts owed to group undertakings
58,620
44,970

Other creditors
171,363
106,885

414,708
241,855


The following liabilities were secured:

2023
2022
£
£



Bank loans
184,725
90,000

184,725
90,000

Details of security provided:

Bank loans were secured against the assets of the company in favour of Together Commercial Finance.


6.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
142,800
142,800

Other creditors
100,000
-

242,800
142,800


The following liabilities were secured:

2023
2022
£
£



Bank loans
142,800
142,800

142,800
142,800

Details of security provided:

Bank loans were secured against the assets of the company in favour of Together Commercial Finance.

Page 7

 
3R BUILDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

7.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
184,725
90,000


184,725
90,000



Amounts falling due after more than 5 years

Bank loans
142,800
142,800

142,800
142,800

327,525
232,800



8.


Deferred taxation




2023


£






Charged to profit or loss
(6,903)



At end of year
(6,903)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Revaluation of investment property
(6,903)
(6,903)

(6,903)
(6,903)

Page 8

 
3R BUILDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



90 (2022 - 90) Ordinary shares of £1.00 each
90
90



10.


Related party transactions

As at the balance sheet date, £58,620 (2022: £44,970) was due to one parent company. This loan is interest free and repayable on demand.
As at the balance sheet date, £121,363 (2022: £106,885) was due to the director. This loan is interest free and repayable on demand.

 
Page 9