Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31false2023-02-01Property11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12394443 2023-02-01 2024-01-31 12394443 2022-02-01 2023-01-31 12394443 2024-01-31 12394443 2023-01-31 12394443 c:Director1 2023-02-01 2024-01-31 12394443 d:PlantMachinery 2023-02-01 2024-01-31 12394443 d:PlantMachinery 2024-01-31 12394443 d:PlantMachinery 2023-01-31 12394443 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 12394443 d:MotorVehicles 2023-02-01 2024-01-31 12394443 d:MotorVehicles 2024-01-31 12394443 d:MotorVehicles 2023-01-31 12394443 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 12394443 d:FurnitureFittings 2023-02-01 2024-01-31 12394443 d:FurnitureFittings 2024-01-31 12394443 d:FurnitureFittings 2023-01-31 12394443 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 12394443 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 12394443 d:CurrentFinancialInstruments 2024-01-31 12394443 d:CurrentFinancialInstruments 2023-01-31 12394443 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 12394443 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 12394443 d:ShareCapital 2024-01-31 12394443 d:ShareCapital 2023-01-31 12394443 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-01-31 12394443 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-01-31 12394443 c:FRS102 2023-02-01 2024-01-31 12394443 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 12394443 c:FullAccounts 2023-02-01 2024-01-31 12394443 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 12394443 d:Subsidiary1 2023-02-01 2024-01-31 12394443 d:Subsidiary1 1 2023-02-01 2024-01-31 12394443 6 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Registered number: 12394443









CULLEN PROPERTY SOLUTIONS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

 
CULLEN PROPERTY SOLUTIONS LIMITED
REGISTERED NUMBER: 12394443

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,311
1,749

Investments
 5 
50
50

  
1,361
1,799

Current assets
  

Stocks
 6 
2,300
2,230

Debtors: amounts falling due within one year
 7 
4,401
2,771

Cash at bank and in hand
 8 
555
648

  
7,256
5,649

Creditors: amounts falling due within one year
 9 
(8,517)
(7,348)

Net current liabilities
  
 
 
(1,261)
 
 
(1,699)

Total assets less current liabilities
  
100
100

  

Net assets
  
100
100


Capital and reserves
  

Called up share capital 
  
100
100

  
100
100


Page 1

 
CULLEN PROPERTY SOLUTIONS LIMITED
REGISTERED NUMBER: 12394443
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

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 year 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 on 23 October 2024.




................................................
Tim Cullen
Director

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

Page 2

 
CULLEN PROPERTY SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Cullen Property Solutions Limited is a private company limited by shares, incorporated in England and Wales. The principal activity throughout the year was that of building services. 

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

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:

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

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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

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

 
CULLEN PROPERTY SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.5

Taxation

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.

 
2.6

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance

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.

 
2.7

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 balance sheet 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 balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Page 4

 
CULLEN PROPERTY SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately 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

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 banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.13

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.


3.


Employees

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

Page 5

 
CULLEN PROPERTY SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 February 2023
750
2,500
900
4,150



At 31 January 2024

750
2,500
900
4,150



Depreciation


At 1 February 2023
434
1,446
521
2,401


Charge for the year on owned assets
79
264
95
438



At 31 January 2024

513
1,710
616
2,839



Net book value



At 31 January 2024
237
790
284
1,311



At 31 January 2023
316
1,054
379
1,749

Page 6

 
CULLEN PROPERTY SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 February 2023
50



At 31 January 2024
50





Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Class of shares

Holding

Taylen Developments Limited
Ordinary
50%

The aggregate of the share capital and reserves as at 31 January 2024 and the profit or loss for the year ended on that date for the subsidiary undertaking were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)

Taylen Developments Limited
(20,131)
17,453


6.


Stocks

2024
2023
£
£

Work in progress
1,980
1,935

Stock in hand
320
295

2,300
2,230


Page 7

 
CULLEN PROPERTY SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

7.


Debtors

2024
2023
£
£


Other debtors
4,231
2,601

Prepayments and accrued income
170
170

4,401
2,771


Included within other debtors due within one year is a loan to Tim and Alahna Cullen, the directors, amounting to £4,231 (2023 - £2,601).




8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
555
648

555
648



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to joint ventures
50
50

Corporation tax
6,808
5,579

Accruals and deferred income
1,659
1,719

8,517
7,348



10.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
555
648




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.

Page 8

 
CULLEN PROPERTY SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

11.


Controlling party

The Company is controlled by the directors, Tim and Alahna Cullen, by virtue of their shareholding, as described in the Directors' report.

 
Page 9