Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseNo description of principal activity00truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11060641 2023-01-01 2023-12-31 11060641 2022-01-01 2022-12-31 11060641 2023-12-31 11060641 2022-12-31 11060641 c:Director2 2023-01-01 2023-12-31 11060641 d:FurnitureFittings 2023-01-01 2023-12-31 11060641 d:FurnitureFittings 2023-12-31 11060641 d:FurnitureFittings 2022-12-31 11060641 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11060641 d:FreeholdInvestmentProperty 2023-12-31 11060641 d:FreeholdInvestmentProperty 2022-12-31 11060641 d:CurrentFinancialInstruments 2023-12-31 11060641 d:CurrentFinancialInstruments 2022-12-31 11060641 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11060641 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11060641 d:ShareCapital 2023-12-31 11060641 d:ShareCapital 2022-12-31 11060641 d:RetainedEarningsAccumulatedLosses 2023-12-31 11060641 d:RetainedEarningsAccumulatedLosses 2022-12-31 11060641 c:OrdinaryShareClass1 2023-01-01 2023-12-31 11060641 c:OrdinaryShareClass1 2023-12-31 11060641 c:OrdinaryShareClass1 2022-12-31 11060641 c:FRS102 2023-01-01 2023-12-31 11060641 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11060641 c:FullAccounts 2023-01-01 2023-12-31 11060641 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11060641 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11060641
















LUDGATE SQUARE LIMITED


UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

































LUDGATE SQUARE LIMITED
REGISTERED NUMBER:11060641

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
560
-

Investment property
 5 
7,710,080
7,710,080

  
7,710,640
7,710,080

Current assets
  

Debtors: amounts falling due within one year
 6 
1,669,279
1,035,351

Cash at bank and in hand
 7 
93,758
390,643

  
1,763,037
1,425,994

Creditors: amounts falling due within one year
 8 
(238,962)
(209,226)

Net current assets
  
 
 
1,524,075
 
 
1,216,768

Total assets less current liabilities
  
9,234,715
8,926,848

Provisions for liabilities
  

Deferred tax
  
(1,882)
(1,883)

Net assets
  
 
 
9,232,833
 
 
8,924,965


Capital and reserves
  

Called up share capital 
 10 
9,789,659
9,789,659

Profit and loss account
  
(556,826)
(864,694)

  
9,232,833
8,924,965


Page 1


LUDGATE SQUARE LIMITED
REGISTERED NUMBER:11060641
    
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 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: 





J O Lovell
Director

Date: 24 June 2024

Page 2


LUDGATE SQUARE LIMITED

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

1.


GENERAL INFORMATION

Ludgate Square 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 956 Buckingham Avenue, Slough, SL1 4NL, United Kingdom.

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 directors have assessed the Statement of Financial Position 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.

  
2.3

TURNOVER

Rental income from investment property leased out under operating leases is recognised in the statement of income and retained earnings on a straight-line basis over the term of the lease.

  
2.4

INTEREST INCOME

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

  
2.5

TANGIBLE FIXED ASSETS

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost of valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:
Fixtures and fittings                           3 years straight line

  
2.6

IMPAIRMENT OF ASSETS

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Page 3


LUDGATE SQUARE LIMITED

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

2.ACCOUNTING POLICIES (continued)

  
2.7

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.
The fair value is determined annually by the directors, on an open market value for existing use basis.

  
2.8

TRADE AND OTHER DEBTORS

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at costs less impairment losses for bad and doubtful debts.

  
2.9

CASH AND CASH EQUIVALENTS

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

  
2.10

TRADE AND OTHER CREDITORS

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

  
2.11

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 arrangement 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.

Page 4


LUDGATE SQUARE LIMITED

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

2.ACCOUNTING POLICIES (continued)

  
2.12

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 as the Statement of Financial Position 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.


3.


EMPLOYEES

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


4.


TANGIBLE FIXED ASSETS





Fixtures and fittings

£



COST OR VALUATION


Additions
840



At 31 December 2023

840



DEPRECIATION


Charge for the year on owned assets
280



At 31 December 2023

280



NET BOOK VALUE



At 31 December 2023
560



At 31 December 2022
-

Page 5


LUDGATE SQUARE LIMITED

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

5.


INVESTMENT PROPERTY


Freehold investment property

£



VALUATION


At 1 January 2023
7,710,080



AT 31 DECEMBER 2023
7,710,080

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




Page 6


LUDGATE SQUARE LIMITED

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

6.


DEBTORS

2023
2022
£
£


Trade debtors
6,871
8,866

Other debtors
1,657,889
1,010,934

Prepayments and accrued income
4,519
15,551

1,669,279
1,035,351



7.


CASH AND CASH EQUIVALENTS

2023
2022
£
£

Cash at bank and in hand
93,758
390,643

93,758
390,643



8.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Trade creditors
1,267
5,684

Amounts owed to other participating interests
2,331
-

Corporation tax
95,109
62,196

Other taxation and social security
30
1,325

Other creditors
111,938
111,938

Accruals and deferred income
28,287
28,083

238,962
209,226



9.


PROVISIONS










AT 31 DECEMBER 2023


10.


SHARE CAPITAL

2023
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



9,789,659 (2022: 9,789,659) Ordinary Shares shares of £1.00 each
9,789,659
9,789,659
Page 7


LUDGATE SQUARE LIMITED

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

10.SHARE CAPITAL (CONTINUED)




11.


RELATED PARTY TRANSACTIONS

The company maintains a loan account with a company under common control which is unsecured and repayable on demand. Interest is charged at 4.71% and during the year the company received interest of £57,039 (2022: £10,098). At the year end date the company was owed £1,472,138 (2022: £1,010,098) from the company under common control.

Included within other debtors at the year end is a loan of £185,039 (2022: £NIL) due from a director. Interest is charged at 2.25% and during the year the company received interest of £2,039 (2022: £NIL). This loan, including interest, has been repaid subsequent to the year end. 

Included within creditors at the year end date is an amount owed to a director of £2,331 (2022: £NIL).
 
Page 8