Caseware UK (AP4) 2023.0.135 2023.0.135 true02023-01-01falseNo description of principal activity0truefalse 13000263 2023-01-01 2023-12-31 13000263 2022-01-01 2022-12-31 13000263 2023-12-31 13000263 2022-12-31 13000263 2022-01-01 13000263 c:Director1 2023-01-01 2023-12-31 13000263 c:Director2 2023-01-01 2023-12-31 13000263 c:Director3 2023-01-01 2023-12-31 13000263 c:Director3 2023-12-31 13000263 c:Director4 2023-01-01 2023-12-31 13000263 c:Director4 2023-12-31 13000263 c:Director5 2023-01-01 2023-12-31 13000263 c:Director5 2023-12-31 13000263 c:Director6 2023-01-01 2023-12-31 13000263 c:Director6 2023-12-31 13000263 c:RegisteredOffice 2023-01-01 2023-12-31 13000263 d:FreeholdInvestmentProperty 2023-01-01 2023-12-31 13000263 d:FreeholdInvestmentProperty 2023-12-31 13000263 d:FreeholdInvestmentProperty 2022-12-31 13000263 d:FreeholdInvestmentProperty 2 2023-01-01 2023-12-31 13000263 d:CurrentFinancialInstruments 2023-12-31 13000263 d:CurrentFinancialInstruments 2022-12-31 13000263 d:Non-currentFinancialInstruments 2023-12-31 13000263 d:Non-currentFinancialInstruments 2022-12-31 13000263 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 13000263 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 13000263 d:ShareCapital 2023-12-31 13000263 d:ShareCapital 2022-12-31 13000263 d:RetainedEarningsAccumulatedLosses 2023-12-31 13000263 d:RetainedEarningsAccumulatedLosses 2022-12-31 13000263 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 13000263 d:TaxLossesCarry-forwardsDeferredTax 2022-12-31 13000263 d:OtherDeferredTax 2023-12-31 13000263 d:OtherDeferredTax 2022-12-31 13000263 c:FRS102 2023-01-01 2023-12-31 13000263 c:Audited 2023-01-01 2023-12-31 13000263 c:FullAccounts 2023-01-01 2023-12-31 13000263 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13000263 d:WithinOneYear 2023-12-31 13000263 d:WithinOneYear 2022-12-31 13000263 d:BetweenOneFiveYears 2023-12-31 13000263 d:BetweenOneFiveYears 2022-12-31 13000263 d:MoreThanFiveYears 2023-12-31 13000263 d:MoreThanFiveYears 2022-12-31 13000263 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 13000263 2 2023-01-01 2023-12-31 13000263 6 2023-01-01 2023-12-31 13000263 f:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Company registration number: 13000263







FINANCIAL STATEMENTS
For the Year Ended
31 December 2023


HOLD MY BRICKS LTD (FORMERLY KNOWN AS HOLD PROPCO 1 LTD)






































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HOLD MY BRICKS LTD (FORMERLY KNOWN AS HOLD PROPCO 1 LTD)
 



COMPANY INFORMATION


Directors
Mr P Kempe 
Mr C Kempe 
Mr F De Ryckman De Betz (appointed 23 January 2024)
Mr C Forsyth (appointed 25 January 2024)
S Kempe (resigned 23 January 2024)
T Kempe (resigned 23 January 2024)




Registered number
13000263



Registered office
Lynton House
7-12 Tavistock Square

London

United Kingdom

WC1H 9LT




Independent auditors
Menzies LLP
Chartered Accountants & Statutory Auditor

Lynton House

7-12 Tavistock Square

London

WC1H 9LT





 


HOLD MY BRICKS LTD (FORMERLY KNOWN AS HOLD PROPCO 1 LTD)
 



CONTENTS



Page
Statement of financial position
1
Notes to the financial statements
2 - 8


 


HOLD MY BRICKS LTD (FORMERLY KNOWN AS HOLD PROPCO 1 LTD)
Registered number:13000263



STATEMENT OF FINANCIAL POSITION
As at 31 December 2023

2023
Unaudited 2022
Note
£
£

Fixed assets
  

Investments
 4 
502
-

Investment property
 5 
56,077,186
26,818,991

  
56,077,688
26,818,991

Current assets
  

Debtors: amounts falling due after more than one year
 6 
52,250
52,250

Debtors: amounts falling due within one year
 6 
660,451
143,999

Cash at bank and in hand
 7 
5,309
92,095

  
718,010
288,344

Creditors: amounts falling due within one year
 8 
(37,166,516)
(11,640,439)

Net current liabilities
  
 
 
(36,448,506)
 
 
(11,352,095)

Total assets less current liabilities
  
19,629,182
15,466,896

Provisions for liabilities
  

Deferred tax
 9 
(4,913,111)
(4,084,317)

  
 
 
(4,913,111)
 
 
(4,084,317)

Net assets
  
14,716,071
11,382,579


Capital and reserves
  

Called up share capital 
  
4
4

Profit and loss account
  
14,716,067
11,382,575

  
14,716,071
11,382,579


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 on 30 September 2024.




Mr C Forsyth
Director

The notes on pages 2 to 8 form part of these financial statements.

Page 1

 


HOLD MY BRICKS LTD (FORMERLY KNOWN AS HOLD PROPCO 1 LTD)
 


 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 December 2023

1.


General information

Hold My Bricks Limited is a private company, limited by shares, and incorporated in England and Wales. The company registration number is 13000263. The registered office and principal place of business are disclosed on the company information page.
The company name changed from Hold Propco 1 Limited to Hold My Bricks Limited with effect from 12 January 2024.

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

At the year end the company had net current liabilities of £36,448,506 (2022 - £11,352,095). The directors have confirmed that financial support will be provided by related parties so that the Company can meet its liabilities as they fall due. It is therefore of the directors opinion that the going concern basis is appropriate.

  
2.3

Revenue

Revenue represents rent receivable from property rental agreements, net of VAT.
Rental income is recognised in line with rental agreements, with income received in advance of its related rental period being deferred where necessary.
Revenue from the sale of property is recognised in the period in which the sale is legally completed.

 
2.4

Interest income

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

 
2.5

Finance costs

Finance costs are charged to profit or loss 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 2

 


HOLD MY BRICKS LTD (FORMERLY KNOWN AS HOLD PROPCO 1 LTD)
 



NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 December 2023

2.Accounting policies (continued)

 
2.6

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 reporting 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 reporting 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 reporting date.

 
2.7

Investment property

Investment property is carried at fair value determined annually by 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 profit or loss.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 3

 


HOLD MY BRICKS LTD (FORMERLY KNOWN AS HOLD PROPCO 1 LTD)
 



NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 December 2023

2.Accounting policies (continued)

 
2.9

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 Statement of financial position 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 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 0 (2022 -0).

Page 4

 


HOLD MY BRICKS LTD (FORMERLY KNOWN AS HOLD PROPCO 1 LTD)
 


 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 December 2023

4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


Additions
502



At 31 December 2023
502





5.


Investment property


Freehold investment property

£



Valuation


At 1 January 2023
26,818,991


Additions at cost
24,465,013


Surplus on revaluation
4,793,182



At 31 December 2023
56,077,186

The 2023 valuations were made by the directors of Hold My Bricks Limited, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
Unaudited 2022
£
£


Historic cost
34,946,736
10,481,723

Accumulated depreciation and impairments
(1,756,013)
(403,516)

33,190,723
10,078,207

Page 5

 


HOLD MY BRICKS LTD (FORMERLY KNOWN AS HOLD PROPCO 1 LTD)
 


 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 December 2023

6.


Debtors

2023
Unaudited 2022
£
£

Due after more than one year

Other debtors
52,250
52,250

52,250
52,250


2023
Unaudited 2022
£
£

Due within one year

Trade debtors
22,800
-

Amounts owed by group undertakings
300,094
1,176

Other debtors
238,414
28,548

Prepayments and accrued income
99,143
114,275

660,451
143,999



7.


Cash and cash equivalents

2023
Unaudited 2022
£
£

Cash at bank and in hand
5,309
92,095

5,309
92,095



8.


Creditors: Amounts falling due within one year

2023
Unaudited 2022
£
£

Trade creditors
4,595,924
18,908

Amounts owed to group undertakings
32,490,323
11,535,156

Other creditors
7,702
-

Accruals and deferred income
72,567
86,375

37,166,516
11,640,439


Page 6

 


HOLD MY BRICKS LTD (FORMERLY KNOWN AS HOLD PROPCO 1 LTD)
 


 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 December 2023

9.


Deferred taxation




2023
Unaudited 2022


£

£






At beginning of year
(4,084,317)
-


Charged to profit or loss
(828,794)
(4,084,317)



At end of year
(4,913,111)
(4,084,317)

The provision for deferred taxation is made up as follows:

2023
Unaudited 2022
£
£


Tax losses carried forward
369,502
-

Fair value movement on investment property revaluation
(5,282,613)
(4,084,317)

(4,913,111)
(4,084,317)


10.


Contingent liabilities

Three of the Company's investment properties are held within a collateral pool on behalf of City & Provincial Properties Finance Ltd, a company under common control. The maximum liability is £20,150,000 and this is secured over the three investment properties. The directors do no expect the Company to be called upon in respect of the securities provided.


11.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
Unaudited 2022
£
£


Not later than 1 year
104,500
104,500

Later than 1 year and not later than 5 years
418,000
418,000

Later than 5 years
1,230,810
1,335,310

1,753,310
1,857,810


12.


Controlling party

Hold My Bricks Limited is 100% owned by Hold Midco Limited. The ultimate controlling party is Hold Topco Limited.

Page 7

 


HOLD MY BRICKS LTD (FORMERLY KNOWN AS HOLD PROPCO 1 LTD)
 


 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 December 2023

13.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 30 September 2024 by Robin Hopkins FCA (Senior statutory auditor) on behalf of Menzies LLP.


Page 8