Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31false2023-04-0111falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01902478 2023-04-01 2024-03-31 01902478 2022-04-01 2023-03-31 01902478 2024-03-31 01902478 2023-03-31 01902478 c:Director1 2023-04-01 2024-03-31 01902478 d:Buildings 2023-04-01 2024-03-31 01902478 d:Buildings 2024-03-31 01902478 d:Buildings 2023-03-31 01902478 d:CurrentFinancialInstruments 2024-03-31 01902478 d:CurrentFinancialInstruments 2023-03-31 01902478 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 01902478 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 01902478 d:ShareCapital 2024-03-31 01902478 d:ShareCapital 2023-03-31 01902478 d:RetainedEarningsAccumulatedLosses 2024-03-31 01902478 d:RetainedEarningsAccumulatedLosses 2023-03-31 01902478 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-04-01 2024-03-31 01902478 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2024-03-31 01902478 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-03-31 01902478 c:OrdinaryShareClass1 2023-04-01 2024-03-31 01902478 c:OrdinaryShareClass1 2024-03-31 01902478 c:OrdinaryShareClass1 2023-03-31 01902478 c:FRS102 2023-04-01 2024-03-31 01902478 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 01902478 c:FullAccounts 2023-04-01 2024-03-31 01902478 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01902478 2 2023-04-01 2024-03-31 01902478 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 01902478









THE KESGRAVE COVENANT LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
THE KESGRAVE COVENANT LIMITED
REGISTERED NUMBER: 01902478

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
183,604
-

  
183,604
-

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 5 
53,089
40,316

Cash at bank and in hand
  
1,191,976
1,252,108

  
1,245,065
1,292,424

Creditors: amounts falling due within one year
 6 
(303,488)
(87,243)

NET CURRENT ASSETS
  
 
 
941,577
 
 
1,205,181

TOTAL ASSETS LESS CURRENT LIABILITIES
  
1,125,181
1,205,181

PROVISIONS FOR LIABILITIES
  

Other provisions
 7 
(8,500)
(88,500)

NET ASSETS
  
1,116,681
1,116,681


CAPITAL AND RESERVES
  

Called up share capital 
 8 
250,002
250,002

Profit and loss account
  
866,679
866,679

  
1,116,681
1,116,681


Page 1

 
THE KESGRAVE COVENANT LIMITED
REGISTERED NUMBER: 01902478
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

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: 




J Coplowe
Director

Date: 25 September 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
THE KESGRAVE COVENANT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


GENERAL INFORMATION

The Kesgrave Covenant Limited is a private limited company incorporated in England & Wales. The company's registered office is Philip House, St William Court, Ipswich, Suffolk, IP5 2QP.
The immediate parent company and ultimate parent undertaking and controlling party is The Mrs L D Rope Third Charitable Settlement, a registered charity. 
Consolidated financial statements can be obtained from the registered office. 
The Company's functional and presentational currency is GBP.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

TURNOVER

Turnover comprises revenue recognised by the Company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts. 
Sales of the Company’s interest in freehold land are recognised on the date of completion. Commercial transactional fees are also recognisable on the date of completion.

 
2.3

INTEREST INCOME

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

 
2.4

TAXATION

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.

Page 3

 
THE KESGRAVE COVENANT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.ACCOUNTING POLICIES (CONTINUED)

  
2.5

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Land is not depreciated.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

DEBTORS

Short-term debtors are measured at transaction price, less any impairment.

 
2.7

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.

 
2.8

CREDITORS

Short-term creditors are measured at the transaction price.

 
2.9

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.

 
2.10

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried
Page 4

 
THE KESGRAVE COVENANT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.ACCOUNTING POLICIES (CONTINUED)


2.10
FINANCIAL INSTRUMENTS (CONTINUED)

at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

  
2.11

DEED OF COVENANT

The deed of covenant payable to the parent undertaking is recognised when it becomes legally payable.

Page 5

 
THE KESGRAVE COVENANT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


TANGIBLE FIXED ASSETS





Freehold property

£



COST


Additions
183,604



At 31 March 2024

183,604






NET BOOK VALUE



At 31 March 2024
183,604



At 31 March 2023
-


5.


DEBTORS

2024
2023
£
£


Trade debtors
34,052
18,937

Amounts owed by group undertakings
-
600

Other debtors
19,037
1,779

Prepayments and accrued income
-
19,000

53,089
40,316


Page 6

 
THE KESGRAVE COVENANT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Trade creditors
162,817
13,568

Amounts owed to group undertakings
132,681
-

Other taxation and social security
-
3,375

Other creditors
-
67,245

Accruals and deferred income
7,990
3,055

303,488
87,243



7.


PROVISIONS





Maintenance provision

£





At 1 April 2023
88,500


Released in year
(80,000)



AT 31 MARCH 2024
8,500


8.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



250,002 (2023 - 250,002) Ordinary shares of £1.00 each
250,002
250,002


 
Page 7