Caseware UK (AP4) 2023.0.135 2023.0.135 2023-05-312023-05-312022-06-01falseNo description of principal activity11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04342007 2022-06-01 2023-05-31 04342007 2021-06-01 2022-05-31 04342007 2023-05-31 04342007 2022-05-31 04342007 2021-06-01 04342007 5 2022-06-01 2023-05-31 04342007 5 2021-06-01 2022-05-31 04342007 6 2022-06-01 2023-05-31 04342007 6 2021-06-01 2022-05-31 04342007 d:Director1 2022-06-01 2023-05-31 04342007 e:FreeholdInvestmentProperty 2023-05-31 04342007 e:FreeholdInvestmentProperty 2022-05-31 04342007 e:FreeholdInvestmentProperty 2 2022-06-01 2023-05-31 04342007 e:CurrentFinancialInstruments 2023-05-31 04342007 e:CurrentFinancialInstruments 2022-05-31 04342007 e:Non-currentFinancialInstruments 2023-05-31 04342007 e:Non-currentFinancialInstruments 2022-05-31 04342007 e:CurrentFinancialInstruments e:WithinOneYear 2023-05-31 04342007 e:CurrentFinancialInstruments e:WithinOneYear 2022-05-31 04342007 e:Non-currentFinancialInstruments e:AfterOneYear 2023-05-31 04342007 e:Non-currentFinancialInstruments e:AfterOneYear 2022-05-31 04342007 e:ShareCapital 2022-06-01 2023-05-31 04342007 e:ShareCapital 2023-05-31 04342007 e:ShareCapital 2021-06-01 2022-05-31 04342007 e:ShareCapital 2022-05-31 04342007 e:ShareCapital 2021-06-01 04342007 e:RevaluationReserve 2022-06-01 2023-05-31 04342007 e:RevaluationReserve 2023-05-31 04342007 e:RevaluationReserve 5 2022-06-01 2023-05-31 04342007 e:RevaluationReserve 6 2022-06-01 2023-05-31 04342007 e:RevaluationReserve 2021-06-01 2022-05-31 04342007 e:RevaluationReserve 2022-05-31 04342007 e:RevaluationReserve 2021-06-01 04342007 e:RevaluationReserve 5 2021-06-01 2022-05-31 04342007 e:RevaluationReserve 6 2021-06-01 2022-05-31 04342007 e:RetainedEarningsAccumulatedLosses 2022-06-01 2023-05-31 04342007 e:RetainedEarningsAccumulatedLosses 2023-05-31 04342007 e:RetainedEarningsAccumulatedLosses 2021-06-01 2022-05-31 04342007 e:RetainedEarningsAccumulatedLosses 2022-05-31 04342007 e:RetainedEarningsAccumulatedLosses 2021-06-01 04342007 d:FRS102 2022-06-01 2023-05-31 04342007 d:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 04342007 d:FullAccounts 2022-06-01 2023-05-31 04342007 d:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 04342007 e:AcceleratedTaxDepreciationDeferredTax 2023-05-31 04342007 e:AcceleratedTaxDepreciationDeferredTax 2022-05-31 04342007 f:PoundSterling 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure

Registered number: 04342007









EDINBURGH ESTATES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2023

 
EDINBURGH ESTATES LIMITED
REGISTERED NUMBER: 04342007

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 5 
771,141
767,763

  
771,141
767,763

Current assets
  

Debtors: amounts falling due within one year
 6 
110,000
110,000

Cash at bank and in hand
  
559
-

  
110,559
110,000

Creditors: amounts falling due within one year
 7 
(20,304)
(18,703)

Net current assets
  
 
 
90,255
 
 
91,297

Total assets less current liabilities
  
861,396
859,060

Creditors: amounts falling due after more than one year
 8 
(187,610)
(201,252)

Provisions for liabilities
  

Deferred tax
 9 
(65,451)
(64,809)

  
 
 
(65,451)
 
 
(64,809)

Net assets
  
608,335
592,999


Capital and reserves
  

Called up share capital 
  
1
1

Revaluation reserve
  
365,018
362,282

Profit and loss account
  
243,316
230,716

  
608,335
592,999


Page 1

 
EDINBURGH ESTATES LIMITED
REGISTERED NUMBER: 04342007
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2023

The director considers 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 director acknowledges his 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 on 4 October 2024.

Hartley T A Kemp
Director

The notes on pages 4 to 8 form part of these financial statements.

Page 2

 
EDINBURGH ESTATES LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2023


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£


At 1 June 2021
1
320,436
232,048
552,485



Profit for the year
-
-
668
668

Revaluation of investment property
-
51,658
-
51,658

Deferred tax charge against unrealised gains
-
(9,812)
-
(9,812)
Total comprehensive income for the year
-
41,846
668
42,514

Dividends: Equity capital
-
-
(2,000)
(2,000)



At 1 June 2022
1
362,282
230,716
592,999



Profit for the year
-
-
14,600
14,600

Revaluation of investment property
-
3,378
-
3,378

Deferred tax charge against unrealised gains
-
(642)
-
(642)
Total comprehensive income for the year
-
2,736
14,600
17,336

Dividends: Equity capital
-
-
(2,000)
(2,000)


At 31 May 2023
1
365,018
243,316
608,335


The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
EDINBURGH ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.


General information

Edinburgh Estates Limited is a private company limited by shares and is registered in England. Its registered office and principal place of trade is 5 Alexandra Mansions, Chichele Road, London, NW2 3AS.

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 director is satisfied that the company has adequate resources to continue to operate for the foreseeable future. For this reason the director considers it appropiate that the company continues to adopt the going concern basis for preparing these financial statements.

 
2.3

Revenue

Revenue represents amounts received from the rental of property. 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. 

 
2.4

Investment property

Investment property is initially recognised at cost. After recognition it is carried at fair value 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 the statement of comprehensive income.

 
2.5

Debtors

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

 
2.6

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.

 
2.7

Creditors

Short term creditors are measured at the transaction price.

Page 4

 
EDINBURGH ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.8

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in the statement of comprehensive income in the same period as the related expenditure.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.10

Borrowing costs

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

 
2.11

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.

Page 5

 
EDINBURGH ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities at the reporting date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. 
The following are the company's key sources of estimation uncertainty:
Revaluation of investment properties
The company carries its investment properties at fair value, with changes in fair value being recognised through the statement of comprehensive income. The company used its sole director  to determine fair value at 31 May 2023. 
The valuer used a valuation technique based on a discounted cash flow model as there is a lack of comparable market data because of the nature of the properties. The determined fair value of the investment properties is most sensitive to the estimated yield as well as the long term vacancy rate.  


4.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


5.


Investment property


Freehold investment property

£



Valuation


At 1 June 2022
767,763


Surplus on revaluation
3,378



At 31 May 2023
771,141

The 2023 valuations were made by the sole director of the company, on an open market value for existing use basis.








6.


Debtors

2023
2022
£
£


Other debtors
110,000
110,000


Page 6

 
EDINBURGH ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
-
402

Bank loans
12,882
12,709

Other loans
995
995

Corporation tax
3,447
157

Other creditors
100
3,000

Accruals and deferred income
2,880
1,440

20,304
18,703



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
181,640
194,286

Other loans
5,970
6,966

187,610
201,252


Page 7

 
EDINBURGH ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

9.


Deferred taxation




2023


£






At beginning of year
(64,809)


Charged to other comprehensive income
(642)



At end of year
(65,451)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Unrealised gains on investment property
(65,451)
(64,809)

(65,451)
(64,809)


10.


Related party transactions

At the reporting date, the company owed £100 (2022: £3,000) to its director, included in other creditors.
At the reporting date, the company was also owed £110,000 (2022: £110,000) by C Venues Limited, a company owned by the Director. 
All loans are interest free and repayable on demand.

 
Page 8