Caseware UK (AP4) 2023.0.135 2023.0.135 2023-05-312023-05-312falsefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true2022-05-16false 14109201 2022-05-15 14109201 2022-05-16 2023-05-31 14109201 2021-05-16 2022-05-15 14109201 2023-05-31 14109201 c:Director1 2022-05-16 2023-05-31 14109201 d:CurrentFinancialInstruments 2023-05-31 14109201 d:Non-currentFinancialInstruments 2023-05-31 14109201 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 14109201 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 14109201 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-05-31 14109201 d:ShareCapital 2023-05-31 14109201 d:RetainedEarningsAccumulatedLosses 2023-05-31 14109201 c:OrdinaryShareClass1 2022-05-16 2023-05-31 14109201 c:OrdinaryShareClass1 2023-05-31 14109201 c:FRS102 2022-05-16 2023-05-31 14109201 c:AuditExempt-NoAccountantsReport 2022-05-16 2023-05-31 14109201 c:FullAccounts 2022-05-16 2023-05-31 14109201 c:PrivateLimitedCompanyLtd 2022-05-16 2023-05-31 14109201 e:PoundSterling 2022-05-16 2023-05-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 14109201









GEN TWO FOWLMERE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MAY 2023

 
GEN TWO FOWLMERE LIMITED
REGISTERED NUMBER: 14109201

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2023

2023
Note
£

  

Current assets
  

Stocks
 4 
8,139,348

Debtors: amounts falling due within one year
 5 
115,935

Cash at bank and in hand
 6 
618,123

  
8,873,406

Creditors: amounts falling due within one year
 7 
(5,081,849)

Net current assets
  
 
 
3,791,557

Total assets less current liabilities
  
3,791,557

Creditors: amounts falling due after more than one year
 8 
(4,005,000)

  

Net (liabilities)/assets
  
(213,443)


Capital and reserves
  

Called up share capital 
 10 
1

Profit and loss account
  
(213,444)

  
(213,443)


Page 1

 
GEN TWO FOWLMERE LIMITED
REGISTERED NUMBER: 14109201
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 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 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 on 29 August 2024.




A Y Levy
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
GEN TWO FOWLMERE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

1.


General information

Gen Two Fowlmere Limited is a private company, limited by shares, incorporated in the United Kingdom and registered in England and Wales (registered number 14109201). The copmany's registered office address is 101 New Cavendish Street, 1st Floor South, London, United Kingdom, W1W 6XH.

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

Going concern

In assessing the ability of the company to operate as a going concern, management have evaluated current and forecasted operational results, and the solvency of the company. The directors have obtained assurances from the shareholders to continue to provide adequate funds to meet its obligations, and not to demand repayment of any funds due to them, until the company is in a financial position to do so. As a result, the directors consider it appropriate to prepare the financial statements on a going concern basis.
Accordingly the directors have continued to prepare the financial statements on the going concern basis.

 
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

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.

Page 3

 
GEN TWO FOWLMERE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

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.

 
2.7

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.

 
2.8

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.


3.


Employees




The average monthly number of employees, including directors, during the period was 2.


4.


Stocks

2023
£

Work in progress
8,139,348

8,139,348


Page 4

 
GEN TWO FOWLMERE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

5.


Debtors

2023
£


Trade debtors
11,711

Other debtors
104,224

115,935



6.


Cash and cash equivalents

2023
£

Cash at bank and in hand
618,123

618,123



7.


Creditors: Amounts falling due within one year

2023
£

Amounts owed to group undertakings
215,914

Other creditors
4,864,435

Accruals and deferred income
1,500

5,081,849


Page 5

 
GEN TWO FOWLMERE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

8.


Creditors: Amounts falling due after more than one year

2023
£

Bank loans
4,005,000

4,005,000


The following liabilities were secured:

2023
£



Bank Loans
4,005,000

4,005,000

Details of security provided:

Loans totalling £4,005,000 are secured by way of a fixed and floating charge over the assets of the
company


9.


Loans


Analysis of the maturity of loans is given below:


2023
£



Amounts falling due 2-5 years

Bank loans
4,005,000


4,005,000


4,005,000



10.


Share capital

2023
£
Allotted, called up and fully paid


1 Ordinary share of £1.00
1


Page 6

 
GEN TWO FOWLMERE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

10.Share capital (continued)




11.


Related party transactions

The company has taken advantage of the exemption available in accordance with FRS 102, section 33
'Related party disclosures' not to disclose transactions entered into between two or more members of a
group, provided that any subsidiary which is party to the transaction is wholly owned by such a member.


12.


Controlling party

The ultimate parent company is Gen Two Real Estate Limited, a company registered in England and
Wales. The address of the registered office is 101 New Cavendish Street, 1st Floor South, London, W1W
6XH.

 
Page 7