Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-312023-06-01No description of principal activityfalse11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04342007 2023-06-01 2024-05-31 04342007 2022-06-01 2023-05-31 04342007 2024-05-31 04342007 2023-05-31 04342007 2022-06-01 04342007 5 2023-06-01 2024-05-31 04342007 5 2022-06-01 2023-05-31 04342007 6 2023-06-01 2024-05-31 04342007 6 2022-06-01 2023-05-31 04342007 d:Director1 2023-06-01 2024-05-31 04342007 e:FreeholdInvestmentProperty 2024-05-31 04342007 e:FreeholdInvestmentProperty 2023-05-31 04342007 e:FreeholdInvestmentProperty 2 2023-06-01 2024-05-31 04342007 e:CurrentFinancialInstruments 2024-05-31 04342007 e:CurrentFinancialInstruments 2023-05-31 04342007 e:Non-currentFinancialInstruments 2024-05-31 04342007 e:Non-currentFinancialInstruments 2023-05-31 04342007 e:CurrentFinancialInstruments e:WithinOneYear 2024-05-31 04342007 e:CurrentFinancialInstruments e:WithinOneYear 2023-05-31 04342007 e:Non-currentFinancialInstruments e:AfterOneYear 2024-05-31 04342007 e:Non-currentFinancialInstruments e:AfterOneYear 2023-05-31 04342007 e:ShareCapital 2023-06-01 2024-05-31 04342007 e:ShareCapital 2024-05-31 04342007 e:ShareCapital 2022-06-01 2023-05-31 04342007 e:ShareCapital 2023-05-31 04342007 e:ShareCapital 2022-06-01 04342007 e:RevaluationReserve 2023-06-01 2024-05-31 04342007 e:RevaluationReserve 2024-05-31 04342007 e:RevaluationReserve 5 2023-06-01 2024-05-31 04342007 e:RevaluationReserve 6 2023-06-01 2024-05-31 04342007 e:RevaluationReserve 2022-06-01 2023-05-31 04342007 e:RevaluationReserve 2023-05-31 04342007 e:RevaluationReserve 2022-06-01 04342007 e:RevaluationReserve 5 2022-06-01 2023-05-31 04342007 e:RevaluationReserve 6 2022-06-01 2023-05-31 04342007 e:RetainedEarningsAccumulatedLosses 2023-06-01 2024-05-31 04342007 e:RetainedEarningsAccumulatedLosses 2024-05-31 04342007 e:RetainedEarningsAccumulatedLosses 2022-06-01 2023-05-31 04342007 e:RetainedEarningsAccumulatedLosses 2023-05-31 04342007 e:RetainedEarningsAccumulatedLosses 2022-06-01 04342007 d:FRS102 2023-06-01 2024-05-31 04342007 d:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 04342007 d:FullAccounts 2023-06-01 2024-05-31 04342007 d:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 04342007 e:AcceleratedTaxDepreciationDeferredTax 2024-05-31 04342007 e:AcceleratedTaxDepreciationDeferredTax 2023-05-31 04342007 f:PoundSterling 2023-06-01 2024-05-31 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 2024

 
EDINBURGH ESTATES LIMITED
REGISTERED NUMBER: 04342007

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 5 
777,850
771,141

  
777,850
771,141

Current assets
  

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

Cash at bank and in hand
  
2,159
559

  
112,159
110,559

Creditors: amounts falling due within one year
 7 
(22,920)
(20,304)

Net current assets
  
 
 
89,239
 
 
90,255

Creditors: amounts falling due after more than one year
 8 
(174,484)
(187,610)

Provisions for liabilities
  

Deferred tax
 9 
(66,725)
(65,451)

  
 
 
(66,725)
 
 
(65,451)

Net assets
  
625,880
608,335


Capital and reserves
  

Called up share capital 
  
1
1

Revaluation reserve
  
370,453
365,018

Profit and loss account
  
255,426
243,316

  
625,880
608,335

Page 1

 
EDINBURGH ESTATES LIMITED
REGISTERED NUMBER: 04342007
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 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 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 16 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 2024


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

£
£
£
£


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



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

Surplus on revaluation of freehold property
-
3,378
-
3,378

Deficit on revaluation of leasehold property
-
(642)
-
(642)
Total comprehensive income for the year
-
2,736
14,600
17,336

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



At 1 June 2023
1
365,018
243,316
608,335



Profit for the year
-
-
13,110
13,110

Surplus on revaluation of freehold property
-
6,709
-
6,709

Deficit on revaluation of leasehold property
-
(1,274)
-
(1,274)
Total comprehensive income for the year
-
5,435
13,110
18,545

Dividends: Equity capital
-
-
(1,000)
(1,000)


At 31 May 2024
1
370,453
255,426
625,880


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 2024

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 2024

2.Accounting policies (continued)

 
2.8

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.

 
2.9

Borrowing costs

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

 
2.10

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 2024

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 2024. 
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 (2023 - 1).


5.


Investment property


Freehold investment property

£



Valuation


At 1 June 2023
771,141


Surplus on revaluation
6,709



At 31 May 2024
777,850

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








6.


Debtors

2024
2023
£
£


Other debtors
110,000
110,000


Page 6

 
EDINBURGH ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
12,523
12,882

Other loans
995
995

Corporation tax
6,522
3,447

Other creditors
-
100

Accruals and deferred income
2,880
2,880

22,920
20,304



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
169,509
181,640

Other loans
4,975
5,970

174,484
187,610


Page 7

 
EDINBURGH ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

9.


Deferred taxation




2024


£






At beginning of year
(65,451)


Charged to other comprehensive income
(1,274)



At end of year
(66,725)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Unrealised gains on investment property
(66,725)
(65,451)

(66,725)
(65,451)


10.


Related party transactions

At the reporting date, the company owed £100 (2023: £3,000) to its director, included in other creditors.
At the reporting date, the company was also owed £110,000 (2023: £110,000) by C Venues Limited, a company owned by the Director. 
All loans are interest free and repayable on demand.

 
Page 8