Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-3122023-01-012falseNo description of principal activitytruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10535593 2023-01-01 2023-12-31 10535593 2022-01-01 2022-12-31 10535593 2023-12-31 10535593 2022-12-31 10535593 c:Director2 2023-01-01 2023-12-31 10535593 d:FreeholdInvestmentProperty 2023-12-31 10535593 d:FreeholdInvestmentProperty 2022-12-31 10535593 d:FreeholdInvestmentProperty 2 2023-01-01 2023-12-31 10535593 d:CurrentFinancialInstruments 2023-12-31 10535593 d:CurrentFinancialInstruments 2022-12-31 10535593 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 10535593 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 10535593 d:ShareCapital 2023-12-31 10535593 d:ShareCapital 2022-12-31 10535593 d:RevaluationReserve 2023-12-31 10535593 d:RevaluationReserve 2022-12-31 10535593 d:RetainedEarningsAccumulatedLosses 2023-12-31 10535593 d:RetainedEarningsAccumulatedLosses 2022-12-31 10535593 c:FRS102 2023-01-01 2023-12-31 10535593 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 10535593 c:FullAccounts 2023-01-01 2023-12-31 10535593 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10535593 2 2023-01-01 2023-12-31 10535593 5 2023-01-01 2023-12-31 10535593 6 2023-01-01 2023-12-31 10535593 d:OtherDeferredTax 2023-12-31 10535593 d:OtherDeferredTax 2022-12-31 10535593 f:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: 10535593









THREE CROWNS LETTINGS LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
THREE CROWNS LETTINGS LIMITED
REGISTERED NUMBER: 10535593

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022 restated
Note
£
£

Fixed assets
  

Investments
 4 
197,501
-

Investment property
 5 
2,158,165
1,966,713

  
2,355,666
1,966,713

Current assets
  

Debtors: amounts falling due within one year
 6 
11,260
11,948

Cash at bank and in hand
  
91,025
3,660,442

  
102,285
3,672,390

Creditors: amounts falling due within one year
 7 
(2,103,531)
(5,457,835)

Net current liabilities
  
 
 
(2,001,246)
 
 
(1,785,445)

Total assets less current liabilities
  
354,420
181,268

Provisions for liabilities
  

Deferred tax
 8 
(96,623)
(48,760)

  
 
 
(96,623)
 
 
(48,760)

Net assets
  
257,797
132,508


Capital and reserves
  

Called up share capital 
  
100
100

Revaluation reserve
  
289,868
146,279

Profit and loss account
  
(32,171)
(13,871)

  
257,797
132,508


Page 1

 
THREE CROWNS LETTINGS LIMITED
REGISTERED NUMBER: 10535593

BALANCE SHEET (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 profit and loss account 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 25 September 2024.




R A Dickson
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
THREE CROWNS LETTINGS LIMITED
 

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

1.


General information

Three Crowns Lettings Limited is a private company, limited by shares, domiciled in England and Wales, registration number 10535593.  The registered office is Suite 9a, Cringleford Business Centre, Intwood Road, Cringleford, Norwich, Norfolk, NR4 6AU.
The financial statements are prepared in sterling which is the functional currency of the company and rounded to the nearest £. 

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

Going concern

The directors are continually assessing the impact of the current economic climate. They have not encountered any significant adverse impacts as a result, and have traded profitably. Therefore, the directors deem it appropriate to prepare the accounts on a going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
THREE CROWNS LETTINGS LIMITED
 

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

2.Accounting policies (continued)

 
2.4

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.
Rental income
Rental income is recognised on an accruals basis.

 
2.5

Interest income

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

 
2.6

Borrowing costs

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

 
2.7

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.

Page 4

 
THREE CROWNS LETTINGS LIMITED
 

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

2.Accounting policies (continued)

 
2.8

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

  
2.9

Investment property

Investment property is carried at fair value determined annually by the company’s directors, 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 profit or loss.

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and Loss Account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.11

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.

 
2.12

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.

 
2.13

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.

Page 5

 
THREE CROWNS LETTINGS LIMITED
 

 
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.


Fixed asset investments





Other fixed asset investments

£



Cost or valuation


Additions
197,501



At 31 December 2023
197,501





5.


Investment property


Freehold investment property

£



Valuation


At 1 January 2023
1,966,713


Surplus on revaluation
191,452



At 31 December 2023
2,158,165

The 2023 valuations were made by the directors, on an open market value for existing use basis.


2023
£


Historic cost
1,771,674

1,771,674

Page 6

 
THREE CROWNS LETTINGS LIMITED
 

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

6.


Debtors

2023
2022
£
£


Trade debtors
5,518
4,560

Other debtors
4,888
5,695

Prepayments and accrued income
854
1,693

11,260
11,948



7.


Creditors: Amounts falling due within one year

2023
2022 restated
£
£

Bank overdrafts
1,806,127
1,766,723

Trade creditors
28
438

Amounts owed to associated companies
2,944
12,095

Corporation tax
-
18,272

Other taxation and social security
-
20,545

Other creditors
264,971
3,510,868

Accruals and deferred income
29,461
128,894

2,103,531
5,457,835


The director, A J Schofield, has provided a personal guarantee covering the loan and overdraft facility provided to the company.


8.


Deferred taxation




2023


£






At beginning of year
(48,760)


Charged to profit or loss
(47,863)



At end of year
(96,623)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Potential CGT on property revalutation surplus
96,623
48,760

Page 7

 
THREE CROWNS LETTINGS LIMITED
 

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

9.Directors' personal guarantees

A J Schofield has provided a personal guarantee covering the loan and overdraft facility provided to the company.


Page 8