Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-312023-02-011falserental1falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12707776 2023-02-01 2024-01-31 12707776 2022-02-01 2023-01-31 12707776 2024-01-31 12707776 2023-01-31 12707776 c:Director1 2023-02-01 2024-01-31 12707776 d:OtherPropertyPlantEquipment 2023-02-01 2024-01-31 12707776 d:OtherPropertyPlantEquipment 2024-01-31 12707776 d:OtherPropertyPlantEquipment 2023-01-31 12707776 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 12707776 d:FreeholdInvestmentProperty 2024-01-31 12707776 d:FreeholdInvestmentProperty 2023-01-31 12707776 d:CurrentFinancialInstruments 2024-01-31 12707776 d:CurrentFinancialInstruments 2023-01-31 12707776 d:Non-currentFinancialInstruments 2024-01-31 12707776 d:Non-currentFinancialInstruments 2023-01-31 12707776 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 12707776 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 12707776 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 12707776 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 12707776 d:ShareCapital 2024-01-31 12707776 d:ShareCapital 2023-01-31 12707776 d:RetainedEarningsAccumulatedLosses 2024-01-31 12707776 d:RetainedEarningsAccumulatedLosses 2023-01-31 12707776 c:OrdinaryShareClass1 2023-02-01 2024-01-31 12707776 c:OrdinaryShareClass1 2024-01-31 12707776 c:OrdinaryShareClass1 2023-01-31 12707776 c:FRS102 2023-02-01 2024-01-31 12707776 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 12707776 c:FullAccounts 2023-02-01 2024-01-31 12707776 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 12707776 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 12707776









EIGHT RESIDENTIAL LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
EIGHT RESIDENTIAL LTD
REGISTERED NUMBER: 12707776

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
1,286
1,952

Investment property
 5 
228,954
228,954

  
230,240
230,906

CURRENT ASSETS
  

Cash at bank and in hand
  
475
1,107

  
475
1,107

Creditors: amounts falling due within one year
 6 
(98,492)
(100,212)

NET CURRENT LIABILITIES
  
 
 
(98,017)
 
 
(99,105)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
132,223
131,801

Creditors: amounts falling due after more than one year
 7 
(144,480)
(144,480)

  

NET LIABILITIES
  
(12,257)
(12,679)


CAPITAL AND RESERVES
  

Called up share capital 
 8 
1
1

Profit and loss account
  
(12,258)
(12,680)

  
(12,257)
(12,679)


Page 1

 
EIGHT RESIDENTIAL LTD
REGISTERED NUMBER: 12707776
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

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 profit and loss account 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: 




D Lodge
Director

Date: 6 September 2024

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

Page 2

 
EIGHT RESIDENTIAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


GENERAL INFORMATION

Eight Residential Ltd is a private company incorporated in England and Wales. Its registered office is Salisbury House, Station Road, Cambridge, CB1 2LA.
The Company's principal trading address is 78 Wellbrook Way, Girton, Cambridge, CB3 0GP.
The Company's functional and presentational currency is GBP.

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 Company had net liabilities of £12,257 as at 31 January 2024 (2023 - £12,679). The financial statements are prepared on the going concern basis on the assumption that the Company will continue to receive financial support from connected companies and its shareholders to provide sufficient funds to enable it to meet its liabilities as they fall due.

 
2.3

TURNOVER

Turnover represents rental income recognised during the period, exclusive of VAT.

 
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 3

 
EIGHT RESIDENTIAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.6

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 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

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, using the straight-line method.

Depreciation is provided on the following basis:

Other fixed assets
-
20%
straight-line

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.

 
2.8

INVESTMENT PROPERTY

Investment property is carried at fair value determined annually by the director based on professional advice received 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.

Page 4

 
EIGHT RESIDENTIAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
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.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


TANGIBLE FIXED ASSETS





Other fixed assets

£



COST


At 1 February 2023
3,330



At 31 January 2024

3,330



DEPRECIATION


At 1 February 2023
1,378


Charge for the year on owned assets
666



At 31 January 2024

2,044



NET BOOK VALUE



At 31 January 2024
1,286



At 31 January 2023
1,952

Page 5

 
EIGHT RESIDENTIAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


INVESTMENT PROPERTY


Freehold investment property

£



VALUATION


At 1 February 2023
228,954



AT 31 JANUARY 2024
228,954

The 2024 valuations were made by the director, on an open market value for existing use basis, based on professional advice received.







6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Amounts owed to group undertakings
96,212
98,052

Accruals and deferred income
2,280
2,160

98,492
100,212



7.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024
2023
£
£

Bank loans
144,480
144,480

144,480
144,480


Bank loans comprise a mortgage secured over the residential property owned by the Company. The repayment terms are interest only, at a rate of 2.95% per annum.

Page 6

 
EIGHT RESIDENTIAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

8.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



1 (2023 - 1) Ordinary share of £1.00
1
1


 
Page 7