Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31No description of principal activity02023-01-01truefalse0trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02254000 2023-01-01 2023-12-31 02254000 2022-01-01 2022-12-31 02254000 2023-12-31 02254000 2022-12-31 02254000 c:Director4 2023-01-01 2023-12-31 02254000 d:CurrentFinancialInstruments 2023-12-31 02254000 d:CurrentFinancialInstruments 2022-12-31 02254000 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 02254000 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 02254000 d:ShareCapital 2023-12-31 02254000 d:ShareCapital 2022-12-31 02254000 d:OtherMiscellaneousReserve 2023-01-01 2023-12-31 02254000 d:OtherMiscellaneousReserve 2023-12-31 02254000 d:OtherMiscellaneousReserve 2022-12-31 02254000 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 02254000 d:RetainedEarningsAccumulatedLosses 2023-12-31 02254000 d:RetainedEarningsAccumulatedLosses 2022-12-31 02254000 c:FRS102 2023-01-01 2023-12-31 02254000 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 02254000 c:FullAccounts 2023-01-01 2023-12-31 02254000 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02254000 6 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 02254000










WESTERN HERITABLE (STAR) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
WESTERN HERITABLE (STAR) LIMITED
REGISTERED NUMBER: 02254000

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
101
331

  
101
331

Current assets
  

Stocks
 5 
319,454
319,454

Debtors: amounts falling due within one year
 6 
3,860,958
3,265,186

  
4,180,412
3,584,640

Creditors: amounts falling due within one year
 7 
(11,131,372)
(10,599,732)

Net current liabilities
  
 
 
(6,950,960)
 
 
(7,015,092)

Total assets less current liabilities
  
(6,950,859)
(7,014,761)

  

Net liabilities
  
(6,950,859)
(7,014,761)


Capital and reserves
  

Called up share capital 
  
3,500,100
3,500,100

Other reserves
 8 
-
(300,374)

Profit and loss account
 8 
(10,450,959)
(10,214,487)

  
(6,950,859)
(7,014,761)


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 by: 


W K D Laxton
Director

Date: 19 September 2024

Page 1

 
WESTERN HERITABLE (STAR) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Western Heritable (Star) Limited is a private company, limited by shares, registered in England and Wales. Its registered and trading address is 2 Babmaes Street, London, SW1Y 6HD.

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 presentation currency of these financial statements is sterling. All amounts in the financial statements have been rounded to the nearest £1.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements for the Company have been prepared on a going concern basis. The Company recorded a loss after tax for the financial year of £236,472 and had net liabilities of £6,950,859 at the date of the Statement of Financial Position. 
After reviewing the Company's forecasts and projections the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for at least the next twelve months following approval of these financial statements. The Company therefore continues to adopt the going concern basis in preparing its financial statements.

 
2.3

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. 
Revenue comprises the proceeds from the sale of trading properties and developments and rental income. Profit on property sales is recognised on financial completion. Rental income is recognised on the accruals basis and includes the spreading of tenant incentives. 

 
2.4

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

Page 2

 
WESTERN HERITABLE (STAR) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
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

Financial Instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Income Statement.

 
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.


3.


Employees

The Company has no employees other than the directors, who did not receive any remuneration (2022 - £NIL).

Page 3

 
WESTERN HERITABLE (STAR) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Fixed asset investments





Investments in subsidiary companies

£



Cost


At 1 January 2023
331


Amounts written off
(230)



At 31 December 2023
101





5.


Stocks

2023
2022
£
£

Freehold land
319,454
319,454

319,454
319,454



6.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
3,847,926
3,252,154

Prepayments and accrued income
13,032
13,032

3,860,958
3,265,186



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
17,719
17,719

Amounts owed to group undertakings
11,109,111
10,577,471

Corporation tax
4,542
4,542

11,131,372
10,599,732


Page 4

 
WESTERN HERITABLE (STAR) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Reserves

Other reserves

Other reserves include capital contributions made in relation to amounts discounted from the value of long term interest free loan debtors.

Profit and loss account

The profit and loss account represents accumulated comprehensive income for the year and prior periods less any dividends paid. 


9.


Related party transactions

Advantage has been taken by the Company of the exemptions provided by Section 33.1A of FRS 102 not to disclose group transactions because it is a wholly owned subsidiary of a company preparing consolidated accounts. 
The Company owns 95% of the Ordinary share capital of Lennox Estates (Milford) Limited ("Milford"). Loans totalling £Nil (2022: £18,228) have been made to Milford. 
The Company owns 86.3% of the Ordinary share capital of Berkshire Western Bayswater Holdings Limited. Loans totalling £3,847,926 (2022: £3,233,926) have been made to Berkshire Western Bayswater Holdings Limited.


10.


Controlling party

The immediate and ultimate parent company is Mactaggart Heritable Limited which is registered in England and Wales. Mactaggart Heritable Limited produces consolidated financial statements that are available to the public,  from the Registrar of Companies at Companies House.
There is no single ultimate controlling party.

Page 5