Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-310false2022-09-010truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10153492 2022-09-01 2023-08-31 10153492 2021-09-01 2022-08-31 10153492 2023-08-31 10153492 2022-08-31 10153492 c:Director1 2022-09-01 2023-08-31 10153492 d:LeaseholdInvestmentProperty 2022-09-01 2023-08-31 10153492 d:LeaseholdInvestmentProperty 2023-08-31 10153492 d:LeaseholdInvestmentProperty 2022-08-31 10153492 d:LeaseholdInvestmentProperty 2 2022-09-01 2023-08-31 10153492 d:CurrentFinancialInstruments 2023-08-31 10153492 d:CurrentFinancialInstruments 2022-08-31 10153492 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 10153492 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 10153492 d:ShareCapital 2023-08-31 10153492 d:ShareCapital 2022-08-31 10153492 d:RevaluationReserve 2023-08-31 10153492 d:RevaluationReserve 2022-08-31 10153492 d:RetainedEarningsAccumulatedLosses 2023-08-31 10153492 d:RetainedEarningsAccumulatedLosses 2022-08-31 10153492 c:OrdinaryShareClass1 2022-09-01 2023-08-31 10153492 c:OrdinaryShareClass1 2023-08-31 10153492 c:OrdinaryShareClass1 2022-08-31 10153492 c:FRS102 2022-09-01 2023-08-31 10153492 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 10153492 c:FullAccounts 2022-09-01 2023-08-31 10153492 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 10153492 f:PoundSterling 2022-09-01 2023-08-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10153492
















EPD CORNWALL STREET 2 LTD


UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 AUGUST 2023

































EPD CORNWALL STREET 2 LTD
REGISTERED NUMBER:10153492

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
1,900,000
242,667

  
1,900,000
242,667

Current assets
  

Debtors: amounts falling due within one year
 5 
5,171
5,155

  
5,171
5,155

Creditors: amounts falling due within one year
 6 
(2,351,326)
(205,620)

Net current liabilities
  
 
 
(2,346,155)
 
 
(200,465)

Total assets less current liabilities
  
(446,155)
42,202

  

Net (liabilities)/assets
  
(446,155)
42,202


Capital and reserves
  

Called up share capital 
 7 
1
1

Investment property reserve
  
(448,804)
-

Profit and loss account
  
2,648
42,201

  
(446,155)
42,202


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 income statement 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: 


N Criado-Perez
Director

Page 1


EPD CORNWALL STREET 2 LTD
REGISTERED NUMBER:10153492
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2023

Date: 30 August 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2


EPD CORNWALL STREET 2 LTD

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023

1.


GENERAL INFORMATION

 EPD Cornwall Street 2 Limited is a private company, limited by shares, registered in England and Wales.
The company's registered number is 10153492 and registered office address is Unit 9 Dunchideock
Barton, Dunchideock, Exeter, EX2 9UA.
The principal activity of the Company is the development and provision of accommodation.

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

The financial statements have been prepared on a going concern basis. The Company supplements its day to day working capital requirements through loans from the shareholders, who have committed to support the Company for the foreseeable future. On this basis the Directors consider it appropriate to prepare the financial statements on a 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


EPD CORNWALL STREET 2 LTD

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023

2.ACCOUNTING POLICIES (continued)

 
2.5

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 reporting date in the countries where the Company operates and generates income.

  
2.6

INVESTMENT PROPERTY

The company's long term leasehold investment property is an investment property as defined by FRS 102 1A. In accordance with this accounting standard the investment property is included at its fair value and no depreciation has been provided. This is a departure from the Companies Act 2006 which requires all assets to be depreciated over their useful economic lives. The directors consider that to depreciate the property would not give a true and fair view.
The value of the investment property has been assessed by the directors.

 
2.7

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.

 
2.8

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 0 (2022:0).

Page 4


EPD CORNWALL STREET 2 LTD

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023

4.


INVESTMENT PROPERTY


Long term leasehold investment property

£



VALUATION


At 1 September 2022
242,667


Additions at cost
2,106,137


Loss on revaluation
(448,804)



AT 31 AUGUST 2023
1,900,000





5.


DEBTORS

2023
2022
£
£


Amounts owed by group undertakings
4,913
-

Other debtors
-
5,155

Prepayments and accrued income
258
-

5,171
5,155



6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Amounts owed to group undertakings
2,347,103
204,420

Accruals and deferred income
4,223
1,200

2,351,326
205,620



7.


SHARE CAPITAL

2023
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



1 (2022:1) Ordinary share of £1.00
1.00
1.00


Page 5


EPD CORNWALL STREET 2 LTD

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023

8.


CONTROLLING PARTY

The immediate parents to the Company is Knightsbridge Property Holdings Limited, who holds 100% of the Company's share capital.

Page 6