Caseware UK (AP4) 2023.0.135 2023.0.135 2023-03-29falseNo description of principal activity33truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00805727 2023-03-29 2024-03-28 00805727 2022-03-29 2023-03-28 00805727 2024-03-28 00805727 2023-03-28 00805727 c:Director1 2023-03-29 2024-03-28 00805727 c:Director2 2023-03-29 2024-03-28 00805727 d:Buildings 2023-03-29 2024-03-28 00805727 d:Buildings 2024-03-28 00805727 d:Buildings 2023-03-28 00805727 d:Buildings d:OwnedOrFreeholdAssets 2023-03-29 2024-03-28 00805727 d:OfficeEquipment 2023-03-29 2024-03-28 00805727 d:OfficeEquipment 2024-03-28 00805727 d:OfficeEquipment 2023-03-28 00805727 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-03-29 2024-03-28 00805727 d:OwnedOrFreeholdAssets 2023-03-29 2024-03-28 00805727 d:CurrentFinancialInstruments 2024-03-28 00805727 d:CurrentFinancialInstruments 2023-03-28 00805727 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-28 00805727 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-28 00805727 d:ShareCapital 2024-03-28 00805727 d:ShareCapital 2023-03-28 00805727 d:RevaluationReserve 2024-03-28 00805727 d:RevaluationReserve 2023-03-28 00805727 d:OtherMiscellaneousReserve 2023-03-29 2024-03-28 00805727 d:RetainedEarningsAccumulatedLosses 2023-03-29 2024-03-28 00805727 d:RetainedEarningsAccumulatedLosses 2024-03-28 00805727 d:RetainedEarningsAccumulatedLosses 2023-03-28 00805727 c:FRS102 2023-03-29 2024-03-28 00805727 c:AuditExemptWithAccountantsReport 2023-03-29 2024-03-28 00805727 c:FullAccounts 2023-03-29 2024-03-28 00805727 c:PrivateLimitedCompanyLtd 2023-03-29 2024-03-28 00805727 2 2023-03-29 2024-03-28 00805727 5 2023-03-29 2024-03-28 00805727 6 2023-03-29 2024-03-28 00805727 e:PoundSterling 2023-03-29 2024-03-28 iso4217:GBP xbrli:pure

Registered number: 00805727










William Isaac Estates Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 28 March 2024





 
William Isaac Estates Limited
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of William Isaac Estates Limited for the Year Ended 28 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of William Isaac Estates Limited for the year ended 28 March 2024 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of William Isaac Estates Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of William Isaac Estates Limited and state those matters that we have agreed to state to the Board of directors of William Isaac Estates Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than William Isaac Estates Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that William Isaac Estates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of William Isaac Estates Limited. You consider that William Isaac Estates Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of William Isaac Estates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  




Kreston Reeves LLP
 
Chartered Accountants
  
Montague Place
Quayside
Chatham Maritime
Chatham
Kent
ME4 4QU
7 August 2024
Page 1

 
William Isaac Estates Limited
Registered number: 00805727

Balance sheet
As at 28 March 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
54,118
55,264

Investments
 5 
4,559,124
4,552,049

  
4,613,242
4,607,313

Current assets
  

Debtors: amounts falling due within one year
 6 
7,639
28,332

Cash at bank and in hand
 7 
238,986
174,358

  
246,625
202,690

Creditors: amounts falling due within one year
 8 
(64,207)
(59,354)

Net current assets
  
 
 
182,418
 
 
143,336

Total assets less current liabilities
  
4,795,660
4,750,649

Provisions for liabilities
  

Deferred tax
  
(297,445)
(226,058)

  
 
 
(297,445)
 
 
(226,058)

Net assets
  
4,498,215
4,524,591

Page 2

 
William Isaac Estates Limited
Registered number: 00805727

Balance sheet (continued)
As at 28 March 2024

2024
2023
Note
£
£

Capital and reserves
  

Called up share capital 
  
350,000
350,000

Non-distributable reserve
 9 
2,396,762
2,468,507

Profit and loss account
 9 
1,751,453
1,706,084

  
4,498,215
4,524,591


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 7 August 2024.





S P Isaac
Mrs E J Isaac
Director
Director

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
William Isaac Estates Limited
 

 
Notes to the financial statements
For the Year Ended 28 March 2024

1.


General information

The company is a limited liability company, incorporated in England with the registered number 00805727.  The registered office address is: Montague Place, Quayside, Chatham Maritime, Kent, ME4 4QU.

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 represents rent receivable.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

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.

 
2.5

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.

Page 4

 
William Isaac Estates Limited
 

 
Notes to the financial statements
For the Year Ended 28 March 2024

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following basis:

Freehold property
-
2% straight line
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

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

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.

 
2.9

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.

 
2.10

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

 
William Isaac Estates Limited
 

 
Notes to the financial statements
For the Year Ended 28 March 2024

2.Accounting policies (continued)

 
2.11

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.

 
2.12

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.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Page 6

 
William Isaac Estates Limited
 

 
Notes to the financial statements
For the Year Ended 28 March 2024

2.Accounting policies (continued)

 
2.13

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 the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Employees
3
3


4.


Tangible fixed assets





Freehold property
Office equipment
Total

£
£
£



Cost or valuation


At 29 March 2023
81,243
1,369
82,612



At 28 March 2024

81,243
1,369
82,612



Depreciation


At 29 March 2023
26,000
1,348
27,348


Charge for the year on owned assets
1,125
21
1,146



At 28 March 2024

27,125
1,369
28,494



Net book value



At 28 March 2024
54,118
-
54,118



At 28 March 2023
55,243
21
55,264

Page 7

 
William Isaac Estates Limited
 

 
Notes to the financial statements
For the Year Ended 28 March 2024
 
Cost or valuation at 28 March 2024 is as follows:

Land and buildings
£


At cost
63,332
At valuation:

28.03.24
17,911



81,243

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

2024
2023
£
£



Cost
63,332
63,332

Accumulated depreciation
(18,174)
(17,407)

Net book value
45,158
45,925


5.


Fixed asset investments





Investments in subsidiary companies
Other fixed asset investments
Total

£
£
£



Cost or valuation


At 29 March 2023
100
4,551,949
4,552,049


Additions
-
7,175
7,175


Disposals
(100)
-
(100)



At 28 March 2024
-
4,559,124
4,559,124





6.


Debtors

2024
2023
£
£


Trade debtors
3,179
25,589

Prepayments and accrued income
4,460
2,743

7,639
28,332


Page 8

 
William Isaac Estates Limited
 

 
Notes to the financial statements
For the Year Ended 28 March 2024

7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
238,986
174,358

238,986
174,358



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
-
100

Corporation tax
20,500
18,235

Other taxation and social security
1,150
1,646

Other creditors
28,838
26,213

Accruals and deferred income
13,719
13,160

64,207
59,354



9.


Reserves

Other reserves

Non-distributable reserves comprise the revaluation of investment properties less a provision for deferred tax in the event of disposal.

Profit & loss account

This reserve comprises all current and prior period retained distributable profits and losses after deducting any distributions made to the company's shareholders.


Page 9