Caseware UK (AP4) 2023.0.135 2023.0.135 true2023-04-01falseNo description of principal activity22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08178638 2023-04-01 2024-03-31 08178638 2022-04-01 2023-03-31 08178638 2024-03-31 08178638 2023-03-31 08178638 c:Director1 2023-04-01 2024-03-31 08178638 c:RegisteredOffice 2023-04-01 2024-03-31 08178638 d:OfficeEquipment 2023-04-01 2024-03-31 08178638 d:OfficeEquipment 2024-03-31 08178638 d:OfficeEquipment 2023-03-31 08178638 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08178638 d:FreeholdInvestmentProperty 2024-03-31 08178638 d:FreeholdInvestmentProperty 2023-03-31 08178638 d:CurrentFinancialInstruments 2024-03-31 08178638 d:CurrentFinancialInstruments 2023-03-31 08178638 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 08178638 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 08178638 d:ShareCapital 2024-03-31 08178638 d:ShareCapital 2023-03-31 08178638 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 08178638 d:RetainedEarningsAccumulatedLosses 2024-03-31 08178638 d:RetainedEarningsAccumulatedLosses 2023-03-31 08178638 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-03-31 08178638 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 08178638 c:OrdinaryShareClass1 2023-04-01 2024-03-31 08178638 c:OrdinaryShareClass1 2024-03-31 08178638 c:OrdinaryShareClass1 2023-03-31 08178638 c:FRS102 2023-04-01 2024-03-31 08178638 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 08178638 c:AbridgedAccounts 2023-04-01 2024-03-31 08178638 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08178638 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 08178638 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 08178638 d:OtherDeferredTax 2024-03-31 08178638 d:OtherDeferredTax 2023-03-31 08178638 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 08178638










SIEGE PROPERTIES UK LIMITED

Unaudited
Financial statements
Information for filing with the registrar
For the year ended 31 March 2024

 
SIEGE PROPERTIES UK LIMITED
 

Company Information


Director
M A Attard 




Registered number
08178638



Registered office
70 Clarkehouse Road

Sheffield

South Yorkshire

S10 2LJ





 
SIEGE PROPERTIES UK LIMITED
Registered number: 08178638

Balance sheet
As at 31 March 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
5,932
6,979

Investments
  
8,000,000
8,000,000

  
8,005,932
8,006,979

Current assets
  

Debtors
  
34,605
33,861

Cash at bank and in hand
  
66,419
68,541

  
101,024
102,402

Creditors: amounts falling due within one year
 8 
(3,631,663)
(3,825,378)

Net current liabilities
  
 
 
(3,530,639)
 
 
(3,722,976)

Total assets less current liabilities
  
4,475,293
4,284,003

Provisions for liabilities
  
(609,494)
(613,006)

Net assets
  
3,865,799
3,670,997


Capital and reserves
  

Called up share capital 
 11 
100
100

Profit and loss account
 12 
3,865,699
3,670,897

  
3,865,799
3,670,997


The director considers 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 director acknowledges his 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 1 July 2024.


M A Attard
Director

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 
SIEGE PROPERTIES UK LIMITED
 

 
Notes to the financial statements
For the year ended 31 March 2024

1.


General information

Siege Properties UK Limited is a company limited by shares incorporated in England within the United Kingdom. The address of the registered office is given in the company information page of these financial statements.
The financial statements are presented in sterling which is the functional currency of the company.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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 members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

 
2.2

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 rental consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.3

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.

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.
     - Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures
       and the Company can control the reversal of the timing differences and such reversal is not considered probable in
       the foreseeable future.
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.

Page 2

 
SIEGE PROPERTIES UK LIMITED
 

 
Notes to the financial statements
For the year ended 31 March 2024

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
15%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Investment property

Investment property is carried at fair value determined annually by the Director 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.

 
2.7

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

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.

 
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.

Page 3

 
SIEGE PROPERTIES UK LIMITED
 

 
Notes to the financial statements
For the year ended 31 March 2024

2.Accounting policies (continued)

 
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.

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 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.

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

2024
2023
£
£

Wages and salaries
18,192
18,192

18,192
18,192


The average monthly number of employees, including directors, during the year was 2 (2023 -2).

Page 4

 
SIEGE PROPERTIES UK LIMITED
 

 
Notes to the financial statements
For the year ended 31 March 2024

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 April 2023
8,042



At 31 March 2024

8,042



Depreciation


At 1 April 2023
1,063


Charge for the year on owned assets
1,047



At 31 March 2024

2,110



Net book value



At 31 March 2024
5,932



At 31 March 2023
6,979


5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
8,000,000



At 31 March 2024
8,000,000

The 2024 valuations were made by the Director, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
4,907,833
4,907,833

4,907,833
4,907,833

Page 5

 
SIEGE PROPERTIES UK LIMITED
 

 
Notes to the financial statements
For the year ended 31 March 2024

6.


Debtors

2024
2023
£
£


Other debtors
34,605
33,861

34,605
33,861



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
66,419
68,542

66,419
68,542



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Tenant deposit bonds
34,605
33,861

Taxation and social security
59,813
47,250

Other creditors
3,530,705
3,740,599

Accruals and deferred income
6,540
3,668

3,631,663
3,825,378



9.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
66,419
68,542



Page 6

 
SIEGE PROPERTIES UK LIMITED
 

 
Notes to the financial statements
For the year ended 31 March 2024

10.


Deferred taxation




2024


£






At 1 April 2022
613,006


Movement in year
(3,512)



At 31 March 2023
609,494

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
105,108
101,596

Revaluation surplus
504,386
511,410

609,494
613,006


11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 -100) Ordinary shares of £1.00 each
100
100



12.


Reserves

Profit and loss account

The balance on the profit and loss account includes an amount of £2,569,529 (2023 £2,569,529) which is undistributable.


13.


Related party transactions

The company operates a directors current account with the sole director. At the financial year end, the balance owed by the company was £3,518,180 (2023 £3,723,300). The loan is unsecured, interest free and repayable upon demand.


Page 7