Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseProvision of business services22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12908860 2023-01-01 2023-12-31 12908860 2022-01-01 2022-12-31 12908860 2023-12-31 12908860 2022-12-31 12908860 c:Director2 2023-01-01 2023-12-31 12908860 d:FreeholdInvestmentProperty 2023-12-31 12908860 d:FreeholdInvestmentProperty 2022-12-31 12908860 d:CurrentFinancialInstruments 2023-12-31 12908860 d:CurrentFinancialInstruments 2022-12-31 12908860 d:Non-currentFinancialInstruments 2023-12-31 12908860 d:Non-currentFinancialInstruments 2022-12-31 12908860 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 12908860 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 12908860 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 12908860 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 12908860 d:ShareCapital 2023-12-31 12908860 d:ShareCapital 2022-12-31 12908860 d:RetainedEarningsAccumulatedLosses 2023-12-31 12908860 d:RetainedEarningsAccumulatedLosses 2022-12-31 12908860 c:OrdinaryShareClass1 2023-01-01 2023-12-31 12908860 c:OrdinaryShareClass1 2023-12-31 12908860 c:OrdinaryShareClass1 2022-12-31 12908860 c:FRS102 2023-01-01 2023-12-31 12908860 c:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 12908860 c:FullAccounts 2023-01-01 2023-12-31 12908860 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 12908860









COLLINEVE LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
COLLINEVE LTD
 
 
  
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF COLLINEVE LTD
FOR THE YEAR ENDED 31 DECEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Collineve Ltd for the year ended 31 December 2023 which comprise  the Statement of Financial Position and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Collineve Ltd, as a body, in accordance with the terms of our engagement letter dated 15 October 2020Our work has been undertaken solely to prepare for your approval the financial statements of Collineve Ltd  and state those matters that we have agreed to state to the Board of Directors of Collineve Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Collineve Ltd and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Collineve Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Collineve Ltd. You consider that Collineve Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Collineve Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Berg Kaprow Lewis LLP
 
Accountants
  
London
3 July 2024
Page 1

 
COLLINEVE LTD
REGISTERED NUMBER: 12908860

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
6,561,455
6,561,455

  
6,561,455
6,561,455

Current assets
  

Debtors: amounts falling due within one year
 5 
4,063
36,750

Cash at bank and in hand
  
229,540
182,337

  
233,603
219,087

Creditors: amounts falling due within one year
 6 
(214,856)
(219,740)

Net current assets/(liabilities)
  
 
 
18,747
 
 
(653)

Total assets less current liabilities
  
6,580,202
6,560,802

Creditors: amounts falling due after more than one year
 7 
(6,500,000)
(6,500,000)

  

Net assets
  
80,202
60,802


Capital and reserves
  

Called up share capital 
 8 
120
120

Profit and loss account
  
80,082
60,682

  
80,202
60,802


Page 2

 
COLLINEVE LTD
REGISTERED NUMBER: 12908860
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

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: 




R J Adam
Director

Date: 1 July 2024

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
COLLINEVE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The principal activity of Collineve Ltd is that of investment in properties.
The Company is a private company, limited by shares, incorporated in England and Wales.
The registered office address is 80 Coleman St, London, United Kingdom, EC2R 5BJ.

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

Going concern

The financial statements have been prepared on the going concern basis, which assumes that the Company will continue to trade for the foreseeable future, being a period of at least twelve months from the date of the approval of these financial statements, and will be able to meet its debts as they fall due.
The Company made a profit of £19,400 during the year and had net current assets of £18,747 and net assets of £80,202 at the end of the year.
The directors have reviewed forecasts and budgets and are confident of the Company's ability to continue trading as a going concern for the foreseeable future. The Company keeps it management accounts under constant review to ensure that no further action or changes are required to the business in order for it to continue as a going concern. Based on the results to date and future projections, the directors are confident that the Company will continue to meet its liabilities as they fall due. As a result, the directors have prepared the financial statements on a going concern basis.

 
2.3

Turnover and revenue recognition

Turnover 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. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue represents rental income from the investment property and is recognised in the period to which it relates.

 
2.4

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings 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.

Page 4

 
COLLINEVE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Borrowing costs

All borrowing costs are recognised in the Statement of Income and Retained Earnings in the year in which they are incurred.

 
2.6

Taxation

Tax is recognised in the Statement of Income and Retained Earnings 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.

 
2.7

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.

 
2.8

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.

Page 5

 
COLLINEVE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and, loans to other third parties.
(i) Financial assets
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
(iii) Offsetting
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Page 6

 
COLLINEVE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Investment property


Leasehold investment property

£



Valuation


At 1 January 2023
6,561,455



At 31 December 2023
6,561,455

The 2023 valuations were made by the directors, based on an open market value for existing use basis, without reliance on a third-party valuer.






5.


Debtors

2023
2022
£
£


Trade debtors
-
18,237

Prepayments and accrued income
4,063
18,513

4,063
36,750



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
-
4,784

Corporation tax
5,966
7,507

Other taxation and social security
25,876
25,781

Accruals and deferred income
183,014
181,668

214,856
219,740


Page 7

 
COLLINEVE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
4,500,000
4,500,000

Amounts owed to other participating interests
2,000,000
2,000,000

6,500,000
6,500,000


The bank loan accrues interest at a rate of 7% per annum, payable quarterly in arrears. The capital amount is to be repaid in full on or before 15 April 2024.
The loan is secured by a charge over the property of the Company.
Amounts due to other particpating interests are due to a company with common directors and are unsecured, interest free and repayable on demand.


8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



120 (2022 - 120) Ordinary shares of £1.00 each
120
120


 
Page 8