Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-312023-06-01falseNo description of principal activity55truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08073472 2023-06-01 2024-05-31 08073472 2022-06-01 2023-05-31 08073472 2024-05-31 08073472 2023-05-31 08073472 2022-06-01 08073472 c:Director1 2023-06-01 2024-05-31 08073472 d:FreeholdInvestmentProperty 2023-06-01 2024-05-31 08073472 d:FreeholdInvestmentProperty 2024-05-31 08073472 d:FreeholdInvestmentProperty 2023-05-31 08073472 d:FreeholdInvestmentProperty 2 2023-06-01 2024-05-31 08073472 d:CurrentFinancialInstruments 2024-05-31 08073472 d:CurrentFinancialInstruments 2023-05-31 08073472 d:Non-currentFinancialInstruments 2024-05-31 08073472 d:Non-currentFinancialInstruments 2023-05-31 08073472 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 08073472 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 08073472 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 08073472 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 08073472 d:ShareCapital 2024-05-31 08073472 d:ShareCapital 2023-05-31 08073472 d:RetainedEarningsAccumulatedLosses 2024-05-31 08073472 d:RetainedEarningsAccumulatedLosses 2023-05-31 08073472 c:FRS102 2023-06-01 2024-05-31 08073472 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 08073472 c:FullAccounts 2023-06-01 2024-05-31 08073472 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 08073472 d:AcceleratedTaxDepreciationDeferredTax 2024-05-31 08073472 d:AcceleratedTaxDepreciationDeferredTax 2023-05-31 08073472 f:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure
Registered number: 08073472


MINI CLIPPER PROPERTY LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MAY 2024

 
MINI CLIPPER PROPERTY LIMITED
 

CONTENTS



Page
Balance Sheet
 
 
1 - 2
Notes to the Financial Statements
 
 
3 - 7


 
MINI CLIPPER PROPERTY LIMITED
REGISTERED NUMBER:08073472

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
11,348,310
9,830,000

Current assets
  

Debtors: amounts falling due within one year
 5 
28,325
13,826

Cash at bank and in hand
 6 
264,347
288,492

  
292,672
302,318

Creditors: amounts falling due within one year
 7 
(372,915)
(451,527)

Net current liabilities
  
 
 
(80,243)
 
 
(149,209)

Total assets less current liabilities
  
11,268,067
9,680,791

Creditors: amounts falling due after more than one year
 8 
(2,513,639)
(2,505,623)

Provisions for liabilities
  

Deferred tax
 9 
(1,099,822)
(733,150)

  
 
 
(1,099,822)
 
 
(733,150)

Net assets
  
7,654,606
6,442,018


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
7,654,506
6,441,918

  
7,654,606
6,442,018


Page 1

 
MINI CLIPPER PROPERTY LIMITED
REGISTERED NUMBER:08073472
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 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 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 income and retained earnings 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: 






................................................
P J Masters
Director

Date: 19 September 2024

Page 2

 
MINI CLIPPER PROPERTY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Mini Clipper Property Limited is a company limited by shares, registered in England and Wales, registered number 08073472. The registered office and principal place of business is Clipper House, Leighton Industrial Park, Billington Road, Leighton Buzzard, Bedfordshire, LU7 4AJ. 

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

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

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

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
MINI CLIPPER PROPERTY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.5

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.

 
2.6

Investment property

Investment property is carried at fair value determined annually by external valuers or the directors 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 the Statement of Income and Retained Earnings.

 
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.

Page 4

 
MINI CLIPPER PROPERTY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
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.

 
2.11

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.

 
2.12

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 5 (2023 - 5).


4.


Investment property


Freehold investment property

£



Valuation


At 1 June 2023
9,830,000


Additions at cost
31,979


Surplus on revaluation
1,486,331



At 31 May 2024
11,348,310

The 2023 valuations were made by Eddisons professional valuers, on an open market value for existing use basis.




Page 5

 
MINI CLIPPER PROPERTY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


Debtors

2024
2023
£
£


Trade debtors
8,108
-

Other debtors
11,958
6,992

Prepayments and accrued income
8,259
6,834

28,325
13,826



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
264,347
288,492



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
104,148
284,500

Trade creditors
12,084
21,276

Corporation tax
104,995
61,414

Other taxation and social security
35,317
-

Other creditors
99,440
51,317

Accruals and deferred income
16,931
33,020

372,915
451,527


The bank loans are secured by a first legal charge over the freehold land and buildings.


8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
2,513,639
2,505,623


The bank loans are secured by a first legal charge over the freehold land and buildings.

Page 6

 
MINI CLIPPER PROPERTY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

9.


Deferred taxation




2024
2023


£

£






At beginning of year
733,150
610,186


Charged to profit or loss
366,672
122,964



At end of year
1,099,822
733,150

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Investment property gains
1,099,822
733,150


10.


Transactions with directors

During the year there is a balance owing to the directors of £99,440 (2023: £50,460). This balance is included in other creditors.
There is no interest charged on the loans, nor are there any fixed repayment terms. 
The Company received rental income from a company with certain common directors. During the year the amount  invoiced in these financial statements was £603,516 (2023: £471,537). At the year end the
amount due from the Company was £Nil (2023: £Nil).
The Company paid a management charge to a company with certain common directors. During the year the amount invoiced in these financial statements was £1,500 (2023: £1,200). At the year end the
amount due from the Company was £nil (2023: £Nil).
At 31 May 2024 the Company was owed £Nil (2023: £800)  from a partnership, a business under common control.

 
Page 7