Caseware UK (AP4) 2023.0.135 2023.0.135 falseNo description of principal activityfalse02022-10-213falsetrue 14435635 2022-10-20 14435635 2022-10-21 2024-03-31 14435635 2021-10-21 2022-10-20 14435635 2024-03-31 14435635 c:Director3 2022-10-21 2024-03-31 14435635 d:Buildings 2022-10-21 2024-03-31 14435635 d:Buildings 2024-03-31 14435635 d:CurrentFinancialInstruments 2024-03-31 14435635 d:Non-currentFinancialInstruments 2024-03-31 14435635 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 14435635 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 14435635 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 14435635 d:ShareCapital 2024-03-31 14435635 d:RetainedEarningsAccumulatedLosses 2024-03-31 14435635 c:OrdinaryShareClass1 2022-10-21 2024-03-31 14435635 c:OrdinaryShareClass1 2024-03-31 14435635 c:FRS102 2022-10-21 2024-03-31 14435635 c:AuditExemptWithAccountantsReport 2022-10-21 2024-03-31 14435635 c:FullAccounts 2022-10-21 2024-03-31 14435635 c:PrivateLimitedCompanyLtd 2022-10-21 2024-03-31 14435635 2 2022-10-21 2024-03-31 14435635 5 2022-10-21 2024-03-31 14435635 e:PoundSterling 2022-10-21 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 14435635










CSS TW Asset Limited








Unaudited

Financial statements

Information for filing with the registrar

For the period ended 31 March 2024

 
CSS TW Asset Limited
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of CSS TW Asset Limited for the period ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of CSS TW Asset Limited for the period ended 31 March 2024 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of CSS TW Asset Limited, as a body, in accordance with the terms of our engagement letter dated 14 October 2024Our work has been undertaken solely to prepare for your approval the financial statements of CSS TW Asset Limited and state those matters that we have agreed to state to the Board of directors of CSS TW Asset Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than CSS TW Asset Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that CSS TW Asset Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of CSS TW Asset Limited. You consider that CSS TW Asset Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or review of the financial statements of CSS TW Asset Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
 
Chartered Accountants
  
2nd Floor
168 Shoreditch High Street
London
E1 6RA
21 October 2024
Page 1

 
CSS TW Asset Limited
Registered number: 14435635

Balance sheet
As at 31 March 2024

2024
Note
£

Fixed assets
  

Tangible assets
  
2,655,734

  
2,655,734

Current assets
  

Debtors: amounts falling due within one year
 5 
129,795

Cash at bank and in hand
  
292,169

  
421,964

Creditors: amounts falling due within one year
 6 
(111,095)

Net current assets
  
 
 
310,869

Total assets less current liabilities
  
2,966,603

Creditors: amounts falling due after more than one year
 7 
(4,264,993)

  

Net (liabilities)/assets
  
(1,298,390)


Capital and reserves
  

Called up share capital 
 9 
1

Profit and loss account
  
(1,298,391)

  
(1,298,390)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006.

The 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 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 21 October 2024.




J Sandelson
Director

The notes on pages 3 to 6 form part of these financial statements.
Page 2

 
CSS TW Asset Limited
 

 
Notes to the financial statements
For the period ended 31 March 2024

1.


General information

CSS TW Asset Limited is a private company limited by shares and was incorporated in England with the
registration number 14435635. The address of the registered office is 2nd Floor 168 Shoreditch High
Street, London, United Kingdom, E1 6RA. The principal activity of the company is to develop property for self storage solutions.

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 financial statements have been prepared on a going concern basis despite the company reporting a loss of £1,298,391 and net liabilities of £1,298,390  for the year ended 31 March 2024. The company is reliant upon the continued financial support of its parent company.

 
2.3

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:

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.

 
2.4

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.

 
2.6

Borrowing costs

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

Page 3

 
CSS TW Asset Limited
 

 
Notes to the financial statements
For the period ended 31 March 2024

2.Accounting policies (continued)

 
2.7

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.8

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.

 
2.9

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.


3.


Employees




The average monthly number of employees, including directors, during the period was 3.


4.


Tangible fixed assets





Freehold property

£



Cost or valuation


Additions
2,655,734



At 31 March 2024

2,655,734






Net book value



At 31 March 2024
2,655,734

Page 4

 
CSS TW Asset Limited
 

 
Notes to the financial statements
For the period ended 31 March 2024

5.


Debtors

2024
£


Trade debtors
8,280

Amounts owed by group undertakings
64,409

Other debtors
35,125

Prepayments and accrued income
21,981

129,795



6.


Creditors: Amounts falling due within one year

2024
£

Trade creditors
23,039

Amounts owed to group undertakings
86,056

Accruals and deferred income
2,000

111,095



7.


Creditors: Amounts falling due after more than one year

2024
£

Bank loans
107,911

Other loans
4,157,082

4,264,993


The company has a total loan facility of £10,635,000 of which £107,911 has been drawn down at 31 March 2024 and is included within Bank loans.

Page 5

 
CSS TW Asset Limited
 

 
Notes to the financial statements
For the period ended 31 March 2024

8.


Loans


Analysis of the maturity of loans is given below:


2024
£



Amounts falling due 2-5 years

Bank loans
107,911

Other loans
4,157,082


4,264,993


4,264,993



9.


Share capital

2024
£
Allotted, called up and fully paid


1 Ordinary share of £1.00
1


On incorporation, the company issued 1 Ordinary shares of £1 at par value.


10.


Related party transactions

During the year, CSS TW Asset Limited loaned CSS MK Asset Limited, a fellow group company, a net
amount of £63,988 held within Debtors: amounts owed by group undertakings. This amount was still
outstanding at the year end.

During the year, CSS TW Asset Limited loaned CSS Group Holdings Limited, a fellow group company, a net amount of £421 held within Debtors: amounts owed by group undertakings. This amount was still
outstanding at the year end.

During the year, CSS TW L3 Asset Limited loaned CSS TW Assed Limited, a fellow group company, a net amount of £86,056 held within Creditors: amounts owed to group undertakings. This amount was still outstanding at the year end.


11.


Controlling party

The ultimate controlling party is CSS Group Holdings Limited.


Page 6