Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-312023-02-01falseBuying and selling of own real estate11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07685514 2023-02-01 2024-01-31 07685514 2022-02-01 2023-01-31 07685514 2024-01-31 07685514 2023-01-31 07685514 2022-02-01 07685514 c:Director1 2023-02-01 2024-01-31 07685514 d:LeaseholdInvestmentProperty 2023-02-01 2024-01-31 07685514 d:LeaseholdInvestmentProperty 2024-01-31 07685514 d:LeaseholdInvestmentProperty 2023-01-31 07685514 d:CurrentFinancialInstruments 2024-01-31 07685514 d:CurrentFinancialInstruments 2023-01-31 07685514 d:Non-currentFinancialInstruments 2024-01-31 07685514 d:Non-currentFinancialInstruments 2023-01-31 07685514 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 07685514 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 07685514 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 07685514 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 07685514 d:ShareCapital 2024-01-31 07685514 d:ShareCapital 2023-01-31 07685514 d:RetainedEarningsAccumulatedLosses 2023-02-01 2024-01-31 07685514 d:RetainedEarningsAccumulatedLosses 2024-01-31 07685514 d:RetainedEarningsAccumulatedLosses 2023-01-31 07685514 c:FRS102 2023-02-01 2024-01-31 07685514 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 07685514 c:FullAccounts 2023-02-01 2024-01-31 07685514 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 07685514 d:WithinOneYear 2024-01-31 07685514 d:WithinOneYear 2023-01-31 07685514 d:BetweenOneFiveYears 2024-01-31 07685514 d:BetweenOneFiveYears 2023-01-31 07685514 d:MoreThanFiveYears 2024-01-31 07685514 d:MoreThanFiveYears 2023-01-31 07685514 d:OtherDeferredTax 2024-01-31 07685514 d:OtherDeferredTax 2023-01-31 07685514 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Registered number: 07685514










SOUTHBANK ATELIER LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

 
SOUTHBANK ATELIER LIMITED
REGISTERED NUMBER: 07685514

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
1,635,000
1,732,500

Current assets
  

Debtors: amounts falling due within one year
 5 
1,560,043
1,508,342

Cash at bank and in hand
  
2,647
2,598

  
1,562,690
1,510,940

Creditors: amounts falling due within one year
 6 
(552,394)
(45,952)

Net current assets
  
 
 
1,010,296
 
 
1,464,988

Total assets less current liabilities
  
2,645,296
3,197,488

Creditors: amounts falling due after more than one year
 7 
(1,143,797)
(1,621,161)

Provisions for liabilities
  

Deferred tax
 8 
(213,062)
(225,476)

Net assets
  
1,288,437
1,350,851


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
 9 
1,288,337
1,350,751

  
1,288,437
1,350,851


Page 1

 
SOUTHBANK ATELIER LIMITED
REGISTERED NUMBER: 07685514
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

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 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 15 October 2024.




J E Nuttall
Director

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

Page 2

 
SOUTHBANK ATELIER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Southbank Atelier Limited is a private company limited by shares, incorporated in England and Wales (registered number: 07685514). Its registered office is 443 Handsworth Road, Handsworth, Sheffield, England, S13 9DD. The principal activities of the Company throughout the year were property sales and rental.

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 Company's functional and presentation currency is pounds sterling.

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.

Page 3

 
SOUTHBANK ATELIER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.3

Investment property

Investment property is carried at fair value determined annually 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 Income and Retained Earnings.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Current and deferred taxation

Tax is recognised in the Statement of Income and Retained Earnings.
The current 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.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet 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.


3.


Employees




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

Page 4

 
SOUTHBANK ATELIER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

4.


Investment property


Long term leasehold investment property

£



Valuation


At 1 February 2023
1,732,500


Disposals
(97,500)



At 31 January 2024
1,635,000

The 2024 valuations were made by the director, on an open market value for existing use basis.





5.


Debtors

2024
2023
£
£


Trade debtors
1,140
975

Amounts owed by group undertakings
1,527,351
1,475,916

Prepayments and accrued income
31,552
31,451

1,560,043
1,508,342



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
4,667
4,667

Other loans
504,419
-

Trade creditors
30,506
15,733

Corporation tax
-
12,313

Other taxation and social security
305
-

Other creditors
12,497
13,239

552,394
45,952


Page 5

 
SOUTHBANK ATELIER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
24,889
29,556

Other loans
1,118,908
1,591,605

1,143,797
1,621,161


Included within creditors falling due after more than one year are secured liabilities in respect of other loans of £1,118,908 (2023: £1,591,605).

The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:

2024
2023
£
£


Repayable by instalments
6,222
10,889




8.


Deferred taxation




2024
2023


£

£






At beginning of year
225,476
265,161


Charged to profit or loss
(12,414)
(39,685)



At end of year
213,062
225,476

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Movement in fair value of investment property
213,062
225,476

Page 6

 
SOUTHBANK ATELIER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

9.


Reserves

Profit and loss account

Included within the profit and loss account reserves are unrealised gains from changes in the fair value of investment property amounting to £639,185 (2023: £675,821) which are non distributable.


10.


Commitments under operating leases

At 31 January 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
1,875
2,000

Later than 1 year and not later than 5 years
7,500
8,000

Later than 5 years
406,875
436,000

416,250
446,000

 
Page 7