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Registered number: 09541611









NIELSEN-CURRAN LIMITED (FORMERLY KNOWN AS FINDERS INTERNATIONAL PROPERTY LIMITED)









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
NIELSEN-CURRAN LIMITED
REGISTERED NUMBER: 09541611

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
                                                                      Note
£
£

Fixed assets
  

Tangible assets
 4 
5,495,728
5,495,728

Current assets
  

Debtors: amounts falling due within one year
 5 
1
1

Cash at bank and in hand
 6 
29,477
15,825

  
29,478
15,826

Creditors: amounts falling due within one year
 7 
(2,739,249)
(2,661,995)

Net current liabilities
  
 
 
(2,709,771)
 
 
(2,646,169)

Total assets less current liabilities
  
2,785,957
2,849,559

Creditors: amounts falling due after more than one year
 8 
(2,340,547)
(2,425,840)

Deferred tax
 10 
(53,251)
(39,817)

  
 
 
(53,251)
 
 
(39,817)

Net assets
  
392,159
383,902


Capital and reserves
  

Called up share capital 
 11 
1
1

Profit and loss account
 12 
392,158
383,901

  
392,159
383,902


Page 1

 
NIELSEN-CURRAN LIMITED
REGISTERED NUMBER: 09541611
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

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 10 October 2024.




D W Curran
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
NIELSEN-CURRAN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Nielsen-Curran Limited is a private company limited by shares incorporated in England and Wales. The registered office is Leytonstone House, 3 Hanbury Drive, Leytonstone, London, E11 1GA.
The principal activity of the company is that of property 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 following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23;
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Lillebus Holdings Limited as at 31 January 2024 and these financial statements may be obtained from Companies House.

 
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:

Rental income
Rental income is recognised on an accrued basis in accordance with the terms of the rental arrangement.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
NIELSEN-CURRAN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
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 year in which they are incurred.

 
2.7

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 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.

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 balance sheet date.

 
2.8

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.

Page 4

 
NIELSEN-CURRAN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the following methods.

Depreciation is provided on the following basis:

Land and buildings
-
Not depreciated

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.

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.13

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from bank and other third parties, loans to related parties and investments in ordinary shares.

Page 5

 
NIELSEN-CURRAN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

3.


Employees




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


4.


Tangible fixed assets





Freehold property

£



Cost or valuation


At 1 February 2023
5,495,728



At 31 January 2024

5,495,728






Net book value



At 31 January 2024
5,495,728



At 31 January 2023
5,495,728


5.


Debtors

2024
2023
£
£


Other debtors
1
1



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
29,477
15,825


Page 6

 
NIELSEN-CURRAN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
74,031
69,750

Amounts owed to group undertakings
2,616,815
2,566,814

Corporation tax
4,648
11,268

Other taxation and social security
10,540
9,663

Other creditors
29,465
-

Accruals and deferred income
3,750
4,500

2,739,249
2,661,995





8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
2,340,547
2,425,840

2,340,547
2,425,840


The company has a mortgage with Barclays Bank PLC secured by way of a fixed charge over the property known as 6-8 Vestry Street, London, N1 7RE.
Subsequent to the year end, the company settled the mortgage with Barclays Bank PLC in full.


9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
74,031
69,750

Amounts falling due 1-2 years

Bank loans
2,340,547
74,031

Amounts falling due 2-5 years

Bank loans
-
2,351,809

2,414,578
2,495,590


Page 7

 
NIELSEN-CURRAN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

10.


Deferred taxation




2024
2023


£

£






At beginning of year
39,817
38,774


Charged to profit or loss
13,434
1,043



At end of year
53,251
39,817

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
53,251
39,817


11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) Ordinary share of £1.00
1
1


There is a single class of ordinary share. There are no restrictions on the distribution of dividends and the repayment of capital. 



12.


Reserves

Profit and loss account

The Profit and loss account consists of distributable reserves arising from cumulative historical profits and losses net of dividends and other adjustments.


13.


Related party transactions

The company has taken advantage of the exemption, under FRS 102 paragraph 1.12 and paragraph 33.1A from disclosing transactions with key management and from disclosing other related party transactions as they are with other companies that are wholly owned within the group.
At the year end the company owed £29,465 
(2023 - £379,530) to companies under common control. During the year rent was charged to companies under common control of £229,893 (2023 - £184,149).

Page 8

 
NIELSEN-CURRAN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

14.


Controlling party

The ultimate parent company is Lillebus Holdings Limited. The company is included in the consolidated accounts prepared by Lillebus Holdings Limited, and copies of those can be obtained from Companies House. Daniel Curran is the ultimate controlling party.


15.


Auditors' information

The auditors' report on the financial statements for the year ended 31 January 2024 was unqualified.

The audit report was signed on 10 October 2024 by Adam Dodds (Senior statutory auditor) on behalf of Barnes Roffe LLP.

 
Page 9