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Registered number: 05342817









LINFOOT COUNTRY HOMES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
LINFOOT COUNTRY HOMES LIMITED
REGISTERED NUMBER: 05342817

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
8,309

Investment property
 5 
30,774
30,774

  
30,774
39,083

Current assets
  

Work in progress
  
-
1,424,037

Debtors: amounts falling due within one year
 7 
229,362
223,918

Cash at bank and in hand
 8 
2,080,724
2,078,868

  
2,310,086
3,726,823

Creditors: amounts falling due within one year
 9 
(2,264,776)
(1,877,487)

Net current assets
  
 
 
45,310
 
 
1,849,336

Total assets less current liabilities
  
76,084
1,888,419

Provisions for liabilities
  

Deferred tax
 10 
-
(2,300)

  
 
 
-
 
 
(2,300)

Net assets
  
76,084
1,886,119


Capital and reserves
  

Called up share capital 
 11 
75,100
75,100

Profit and loss account
  
984
1,811,019

  
76,084
1,886,119


Page 1

 
LINFOOT COUNTRY HOMES LIMITED
REGISTERED NUMBER: 05342817
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 9 September 2024.




C H Linfoot McLean
Director

The notes on pages 5 to 11 form part of these financial statements.

Page 2

 
LINFOOT COUNTRY HOMES LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 April 2023
75,100
1,811,019
1,886,119


Comprehensive income for the year

Profit for the year

-
104,965
104,965


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
104,965
104,965


Contributions by and distributions to owners

Dividends: Equity capital
-
(1,915,000)
(1,915,000)


Total transactions with owners
-
(1,915,000)
(1,915,000)


At 31 March 2024
75,100
984
76,084


The notes on pages 5 to 11 form part of these financial statements.

Page 3

 
LINFOOT COUNTRY HOMES LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 MARCH 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 October 2021
75,100
2,476,847
2,551,947


Comprehensive income for the period

Profit for the period

-
334,172
334,172


Other comprehensive income for the period
-
-
-


Total comprehensive income for the period
-
334,172
334,172


Contributions by and distributions to owners

Dividends: Equity capital
-
(1,000,000)
(1,000,000)


Total transactions with owners
-
(1,000,000)
(1,000,000)


At 31 March 2023
75,100
1,811,019
1,886,119


The notes on pages 5 to 11 form part of these financial statements.

Page 4

 
LINFOOT COUNTRY HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Linfoot Country Homes Limited is a private company registered in England.
The company's registered office is The Manor House, Great Alne, Warwickshire B49 6HR.
These financial statements are presented in £ Sterling which is the functional currency of the company.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
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 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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Interest income

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

Page 5

 
LINFOOT COUNTRY HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
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.

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:

Motor vehicles
-
25%
Fixtures and fittings
-
25%
Computer equipment
-
25%

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

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 6

 
LINFOOT COUNTRY HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
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.
 
Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.11

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:


       31 March
   18 months ended
        31 March
        2024
        2023
            No.
            No.







3
6

Page 7

 
LINFOOT COUNTRY HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Property improvements
Motor vehicles
Fixtures and fittings
Computer equipment

£
£
£
£



Cost or valuation


At 1 April 2023
13,507
20,081
1,350
36,937



At 31 March 2024

13,507
20,081
1,350
36,937



Depreciation


At 1 April 2023
13,507
15,897
338
33,824


Charge for the year
-
4,184
1,012
3,113



At 31 March 2024

13,507
20,081
1,350
36,937



Net book value



At 31 March 2024
-
-
-
-



At 31 March 2023
-
4,184
1,012
3,113

Total

£



Cost or valuation


At 1 April 2023
71,875



At 31 March 2024

71,875



Depreciation


At 1 April 2023
63,566


Charge for the year
8,309



At 31 March 2024

71,875



Net book value



At 31 March 2024
-



At 31 March 2023
8,309

Page 8

 
LINFOOT COUNTRY HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Investment property





Investment property

£



Cost or valuation


At 1 April 2023
30,774



At 31 March 2024
30,774





6.


Work in progress

2024
2023
£
£

Work in progress
-
1,424,037

-
1,424,037



7.


Debtors

2024
2023
£
£


Trade debtors
14
-

Amounts owed by group undertakings
117,813
99,175

Amounts owed by associates
92,318
92,000

VAT
19,217
32,743

229,362
223,918



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
2,080,724
2,078,868

2,080,724
2,078,868


Page 9

 
LINFOOT COUNTRY HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
227,412
299,867

Amounts owed to group undertakings
-
1,451,981

Corporation tax
36,991
81,000

Other taxation and social security
2,556
24,526

Dividends proposed
1,915,000
-

Accruals and deferred income
82,817
20,113

2,264,776
1,877,487



10.


Deferred taxation




2024


£






At beginning of year
(2,300)


Utilised in year
2,300



At end of year
-

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
-
(2,300)

-
(2,300)

Page 10

 
LINFOOT COUNTRY HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100
75,000 (2023 - 75,000) Ordinary Redeemable shares of £1.00 each
75,000
75,000

75,100

75,100


The redeemable shares are redeemable at the option of either the company or the shareholders at a value to be negotiated.

 
Page 11