Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false2023-01-01falseNo description of principal activity22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09267117 2023-01-01 2023-12-31 09267117 2022-01-01 2022-12-31 09267117 2023-12-31 09267117 2022-12-31 09267117 c:Director1 2023-01-01 2023-12-31 09267117 d:CurrentFinancialInstruments 2023-12-31 09267117 d:CurrentFinancialInstruments 2022-12-31 09267117 d:Non-currentFinancialInstruments 2023-12-31 09267117 d:Non-currentFinancialInstruments 2022-12-31 09267117 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 09267117 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 09267117 d:ShareCapital 2023-12-31 09267117 d:ShareCapital 2022-12-31 09267117 d:RetainedEarningsAccumulatedLosses 2023-12-31 09267117 d:RetainedEarningsAccumulatedLosses 2022-12-31 09267117 c:FRS102 2023-01-01 2023-12-31 09267117 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09267117 c:FullAccounts 2023-01-01 2023-12-31 09267117 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09267117 2 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 09267117










ALEV REAL ESTATE CREDIT I LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
ALEV REAL ESTATE CREDIT I LIMITED
REGISTERED NUMBER:09267117

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due after more than one year
 4 
141,480
152,317

Cash at bank and in hand
 5 
150,192
345,811

  
291,672
498,128

Creditors: amounts falling due within one year
 6 
(124,249)
(133,561)

Net current assets
  
167,423
364,567

  

Net assets
  
167,423
364,567


Capital and reserves
  

Called up share capital 
  
1,800
1,800

Profit and loss account
  
165,623
362,767

  
167,423
364,567


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 30 July 2024.




M G Childress
Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
ALEV REAL ESTATE CREDIT I LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Alev Real Estate Credit I Limited is a private company, limited by shares, registered in England and Wales, registration number 09267117. The registered office is 10 Queen Street Place, London, EC4R 1AG, and its principal place of business is Premier House, 15 - 19 Church Street West, Woking, GU21 6DJ. The principal activity is financial intermediation. 

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 Section 1A of 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:

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.

 
2.3

Interest income

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

 
2.4

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.

  
2.5

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.

Page 2

 
ALEV REAL ESTATE CREDIT I LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

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.

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

 
2.8

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 directors, during the year was 2 (2022 - 2).


4.


Debtors


Due after more than one year

2022
2021

£
£

Other debtors
141,480
152,317


Debtors due after more than one year comprise loan debtors which are repayable at various dates after
31 December 2023.

Page 3

 
ALEV REAL ESTATE CREDIT I LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
150,192
345,811



6.


Creditors: amounts falling due within one year

2023
2022
£
£

Trade creditors
-
3,861

Corporation tax
28,979
24,683

Other creditors
90,411
98,265

Accruals and deferred income
4,859
6,752

124,249
133,561



7.


Related party transactions

The Company has taken advantage of exemptions from disclosing transactions with related companies under the provisions of Section 33 of FRS 102.

 
Page 4