Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Mrs C Campbell 13/06/2022 Mr S Campbell 01/12/2020 24 September 2024 The principal activity of the Company during the financial period was that of property investment. 13052553 2023-12-31 13052553 bus:Director1 2023-12-31 13052553 bus:Director2 2023-12-31 13052553 2022-12-31 13052553 core:CurrentFinancialInstruments 2023-12-31 13052553 core:CurrentFinancialInstruments 2022-12-31 13052553 core:Non-currentFinancialInstruments 2023-12-31 13052553 core:Non-currentFinancialInstruments 2022-12-31 13052553 core:ShareCapital 2023-12-31 13052553 core:ShareCapital 2022-12-31 13052553 core:FurtherSpecificReserve1ComponentTotalEquity 2023-12-31 13052553 core:FurtherSpecificReserve1ComponentTotalEquity 2022-12-31 13052553 core:RetainedEarningsAccumulatedLosses 2023-12-31 13052553 core:RetainedEarningsAccumulatedLosses 2022-12-31 13052553 core:Vehicles 2022-12-31 13052553 core:OfficeEquipment 2022-12-31 13052553 core:Vehicles 2023-12-31 13052553 core:OfficeEquipment 2023-12-31 13052553 core:MoreThanFiveYears 2023-12-31 13052553 core:MoreThanFiveYears 2022-12-31 13052553 bus:OrdinaryShareClass1 2023-12-31 13052553 2023-01-01 2023-12-31 13052553 bus:FilletedAccounts 2023-01-01 2023-12-31 13052553 bus:SmallEntities 2023-01-01 2023-12-31 13052553 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 13052553 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13052553 bus:Director1 2023-01-01 2023-12-31 13052553 bus:Director2 2023-01-01 2023-12-31 13052553 core:Vehicles 2023-01-01 2023-12-31 13052553 core:OfficeEquipment 2023-01-01 2023-12-31 13052553 2022-01-01 2022-12-31 13052553 core:Non-currentFinancialInstruments 2023-01-01 2023-12-31 13052553 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 13052553 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13052553 (England and Wales)

CASE PROPERTY (SW) LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

CASE PROPERTY (SW) LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

CASE PROPERTY (SW) LIMITED

BALANCE SHEET

As at 31 December 2023
CASE PROPERTY (SW) LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 53,542 71,306
Investment property 4 340,000 326,000
393,542 397,306
Current assets
Debtors 5 46,013 46,093
Cash at bank and in hand 2,163 2,023
48,176 48,116
Creditors: amounts falling due within one year 6 ( 84,995) ( 68,924)
Net current liabilities (36,819) (20,808)
Total assets less current liabilities 356,723 376,498
Creditors: amounts falling due after more than one year 7 ( 276,991) ( 288,743)
Provision for liabilities ( 20,436) ( 22,442)
Net assets 59,296 65,313
Capital and reserves
Called-up share capital 8 10 10
Fair value reserve 103,647 93,147
Profit and loss account ( 44,361 ) ( 27,844 )
Total shareholders' funds 59,296 65,313

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Case Property (SW) Limited (registered number: 13052553) were approved and authorised for issue by the Board of Directors on 24 September 2024. They were signed on its behalf by:

Mr S Campbell
Director
CASE PROPERTY (SW) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
CASE PROPERTY (SW) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Case Property (SW) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Pell Mor, Darite, Liskeard, PL14 5JW, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer and revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Vehicles 25 % reducing balance
Office equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Tangible assets

Vehicles Office equipment Total
£ £ £
Cost
At 01 January 2023 80,740 1,404 82,144
At 31 December 2023 80,740 1,404 82,144
Accumulated depreciation
At 01 January 2023 10,674 164 10,838
Charge for the financial year 17,516 248 17,764
At 31 December 2023 28,190 412 28,602
Net book value
At 31 December 2023 52,550 992 53,542
At 31 December 2022 70,066 1,240 71,306

4. Investment property

Investment property
£
Valuation
As at 01 January 2023 326,000
Fair value movement 14,000
As at 31 December 2023 340,000

Valuation

Fair value has been determined by the directors at the balance sheet date and is based on current market prices for comparable properties.

5. Debtors

2023 2022
£ £
Prepayments 4,263 4,413
Other debtors 41,750 41,680
46,013 46,093

6. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to directors 70,912 56,577
Accruals 1,080 900
Obligations under finance leases and hire purchase contracts (secured) 11,753 10,197
Other creditors 1,250 1,250
84,995 68,924

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Other loans (secured) 229,500 229,500
Obligations under finance leases and hire purchase contracts (secured) 47,491 59,243
276,991 288,743

Loans and finance liabilities are secured by way of fixed charges over the assets to which they relate.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

2023 2022
£ £
Other loans (secured) 229,500 229,500

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 0.10 each 10 10

9. Related party transactions

Other related party transactions

2023 2022
£ £
Loans to related parties 40,500 40,430

During the year, the company loaned funds to 59 JH Property Limited, a company controlled and managed by a director of Case Property (SW) Limited. The loan is interest-free and repayable on demand.