Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31true2023-02-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falseNo description of principal activity54falsefalse 10585614 2023-02-01 2024-03-31 10585614 2022-02-01 2023-01-31 10585614 2024-03-31 10585614 2023-01-31 10585614 c:Director1 2023-02-01 2024-03-31 10585614 c:Director2 2023-02-01 2024-03-31 10585614 c:Director3 2023-02-01 2024-03-31 10585614 c:Director4 2023-02-01 2024-03-31 10585614 c:Director5 2023-02-01 2024-03-31 10585614 c:Director5 2024-03-31 10585614 c:RegisteredOffice 2023-02-01 2024-03-31 10585614 d:Buildings 2023-02-01 2024-03-31 10585614 d:Buildings 2024-03-31 10585614 d:Buildings 2023-01-31 10585614 d:Buildings d:OwnedOrFreeholdAssets 2023-02-01 2024-03-31 10585614 d:CurrentFinancialInstruments 2024-03-31 10585614 d:CurrentFinancialInstruments 2023-01-31 10585614 d:Non-currentFinancialInstruments 2024-03-31 10585614 d:Non-currentFinancialInstruments 2023-01-31 10585614 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 10585614 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 10585614 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 10585614 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 10585614 d:ShareCapital 2024-03-31 10585614 d:ShareCapital 2023-01-31 10585614 d:RetainedEarningsAccumulatedLosses 2024-03-31 10585614 d:RetainedEarningsAccumulatedLosses 2023-01-31 10585614 c:FRS102 2023-02-01 2024-03-31 10585614 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-03-31 10585614 c:FullAccounts 2023-02-01 2024-03-31 10585614 c:PrivateLimitedCompanyLtd 2023-02-01 2024-03-31 10585614 6 2023-02-01 2024-03-31 10585614 e:PoundSterling 2023-02-01 2024-03-31 iso4217:GBP xbrli:pure
Company registration number: 10585614







UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 MARCH 2024


PROPCO (HUNTINGDON) LIMITED






































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PROPCO (HUNTINGDON) LIMITED
 


 
COMPANY INFORMATION


Directors
Mr T J Carroll 
Mr P J Dixon 
Mr J A Halton 
Mr L C Hollick 
Mr A G Winstanley (appointed 26 March 2024)




Registered number
10585614



Registered office
4 Elm Place
Old Witney Road

Eynsham

Oxfordshire

OX29 4BD




Accountants
Menzies LLP
Chartered Accountants

3000a Parkway

Whiteley

Hampshire

PO15 7FX





 


PROPCO (HUNTINGDON) LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 8


 


PROPCO (HUNTINGDON) LIMITED
REGISTERED NUMBER:10585614



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

31 March
31 January
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
11,678,352
1,903,186

Investments
  
100
-

  
11,678,452
1,903,186

Current assets
  

Debtors: amounts falling due within one year
 6 
1,203,140
100

Cash at bank and in hand
  
4,685
6,995

  
1,207,825
7,095

Creditors: amounts falling due within one year
 7 
(8,882,503)
(1,910,181)

Net current liabilities
  
 
 
(7,674,678)
 
 
(1,903,086)

Total assets less current liabilities
  
4,003,774
100

Creditors: amounts falling due after more than one year
  
(4,245,181)
-

  

Net (liabilities)/assets
  
(241,407)
100

Page 1

 


PROPCO (HUNTINGDON) LIMITED
REGISTERED NUMBER:10585614


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

31 March
31 January
2024
2023
Note
£
£

Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(241,507)
-

  
(241,407)
100


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 period 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: 




Mr P J Dixon
Director

Date: 2 October 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 


PROPCO (HUNTINGDON) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

Propco (Huntingdon) Limited is a private company limited by shares, registered in England and Wales. The
address of it's registered office is disclosed on the company information page.
The accounts reference date has been extended to 31st March 2024 to align with the year ends of associated companies.

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

Revenue

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. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

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 3

 


PROPCO (HUNTINGDON) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Borrowing costs

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

 
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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

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.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 


PROPCO (HUNTINGDON) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
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 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.


3.


Employees




The average monthly number of employees, including directors, during the period was 5 (2023 - 4).

Page 5

 


PROPCO (HUNTINGDON) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

4.


Tangible fixed assets







Freehold property

£



Cost or valuation


At 1 February 2023
1,903,186


Additions
9,970,580



At 31 March 2024

11,873,766



Depreciation


Charge for the period on owned assets
195,414



At 31 March 2024

195,414



Net book value



At 31 March 2024
11,678,352



At 31 January 2023
1,903,186

Page 6

 


PROPCO (HUNTINGDON) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

5.


Fixed asset investments








Investments in subsidiary companies

£



Cost or valuation


Additions
100



At 31 March 2024
100





6.


Debtors

31 March
31 January
2024
2023
£
£


Amounts owed by group undertakings
645,000
-

Other debtors
-
100

Prepayments and accrued income
558,140
-

1,203,140
100



7.


Creditors: Amounts falling due within one year

31 March
31 January
2024
2023
£
£

Bank loans
7,600,000
-

Amounts owed to group undertakings
1,135,000
-

Other creditors
144,403
1,910,181

Accruals and deferred income
3,100
-

8,882,503
1,910,181



8.


Creditors: Amounts falling due after more than one year

31 March
31 January
2024
2023
£
£

Other creditors
4,245,181
-

4,245,181
-


Page 7

 


PROPCO (HUNTINGDON) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

9.


Related party transactions

At the year end, there were amounts due to a director amounting to £50,000 (2023 - £Nil)


10.


Controlling party

The ultimate controlling parties are J A Halton and P J Dixon by virtue of their majority shareholdings

 
Page 8