Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-292023-03-01falseNo description of principal activity00falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08878318 2023-03-01 2024-02-29 08878318 2022-03-01 2023-02-28 08878318 2024-02-29 08878318 2023-02-28 08878318 c:Director1 2023-03-01 2024-02-29 08878318 d:PlantMachinery 2023-03-01 2024-02-29 08878318 d:PlantMachinery 2024-02-29 08878318 d:PlantMachinery 2023-02-28 08878318 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 08878318 d:CurrentFinancialInstruments 2024-02-29 08878318 d:CurrentFinancialInstruments 2023-02-28 08878318 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 08878318 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 08878318 d:ShareCapital 2024-02-29 08878318 d:ShareCapital 2023-02-28 08878318 d:RetainedEarningsAccumulatedLosses 2024-02-29 08878318 d:RetainedEarningsAccumulatedLosses 2023-02-28 08878318 c:OrdinaryShareClass1 2023-03-01 2024-02-29 08878318 c:OrdinaryShareClass1 2024-02-29 08878318 c:OrdinaryShareClass1 2023-02-28 08878318 c:OrdinaryShareClass2 2023-03-01 2024-02-29 08878318 c:OrdinaryShareClass2 2024-02-29 08878318 c:OrdinaryShareClass2 2023-02-28 08878318 c:OrdinaryShareClass3 2023-03-01 2024-02-29 08878318 c:OrdinaryShareClass3 2024-02-29 08878318 c:OrdinaryShareClass3 2023-02-28 08878318 c:FRS102 2023-03-01 2024-02-29 08878318 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 08878318 c:FullAccounts 2023-03-01 2024-02-29 08878318 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 08878318 e:PoundSterling 2023-03-01 2024-02-29 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08878318









MERE COURT DEVELOPMENT LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
MERE COURT DEVELOPMENT LIMITED
REGISTERED NUMBER: 08878318

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
Restated 28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
18,521
21,789

  
18,521
21,789

Current assets
  

Stocks
 5 
141,761
265,447

Debtors: amounts falling due within one year
 6 
207,859
207,859

Cash at bank and in hand
 7 
133,773
38,095

  
483,393
511,401

Creditors: amounts falling due within one year
 8 
(146,755)
(378,967)

Net current assets
  
 
 
336,638
 
 
132,434

Total assets less current liabilities
  
355,159
154,223

  

Net assets
  
355,159
154,223


Capital and reserves
  

Called up share capital 
 9 
4
4

Profit and loss account
  
355,155
154,219

  
355,159
154,223


Page 1

 
MERE COURT DEVELOPMENT LIMITED
REGISTERED NUMBER: 08878318
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 24 October 2024.


S D Griffiths
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
MERE COURT DEVELOPMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

The company is a private  company limited by shares, registered in England and Wales.  The address of the registered office is c/o AGP, Sterling House, Mandarin Court, Centre Park, Warrington, WA1 1GG. 

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

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

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.

Turnover comprises sales proceeds from development property and rental income.

Page 3

 
MERE COURT DEVELOPMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.3

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.

 
2.4

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
-
15%
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.

 
2.5

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.

 
2.6

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.

Page 4

 
MERE COURT DEVELOPMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.7

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.

 
2.8

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.

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary
Page 5

 
MERE COURT DEVELOPMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)


2.9
Financial instruments (continued)

course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL).


4.


Tangible fixed assets







Plant and machinery

£



Cost or valuation


At 1 March 2023
24,000



At 29 February 2024

24,000



Depreciation


At 1 March 2023
2,211


Charge for the year on owned assets
3,268



At 29 February 2024

5,479



Net book value



At 29 February 2024
18,521



Restated at 28 February 2023
21,789

Page 6

 
MERE COURT DEVELOPMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Stocks

29 February
Restated at 28 February
2024
2023
£
£

Work in progress
141,761
265,447

141,761
265,447



6.


Debtors

29 February
Restated at 28 February
2024
2023
£
£


Other debtors
207,859
207,859

207,859
207,859



7.


Cash and cash equivalents

29 February
Restated at 28 February
2024
2023
£
£

Cash at bank and in hand
133,773
38,095

133,773
38,095


Page 7

 
MERE COURT DEVELOPMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

8.


Creditors: Amounts falling due within one year

29 February
Restated at 28 February
2024
2023
£
£

Trade creditors
994
-

Corporation tax
64,575
781

Other creditors
78,186
378,186

Accruals
3,000
-

146,755
378,967



9.


Share capital

29 February
28 February
2024
2023
£
£
Allotted, called up and fully paid



2 (2023 - 2) Ordinary shares of £1.00 each
2
2
1 (2023 - 1) Ordinary A share of £1.00
1
1
1 (2023 - 1) Ordinary B share of £1.00
1
1

4

4



10.


Prior year adjustment

The company has been subject to a shareholder dispute within the High Court of Justice.  On 27 November 2023, a Tomlin Order was issued by Judge Keyser which set out the findings of the court.  The prior year comparatives have been restated to reflect the findings of the High Court.
A reconciliation is set out below.
Profit and loss reserves at 28 February 2023 per filed statutory accounts - £ 162,625
Impact of adjustments arising from the High Court ruling - (£8,405)
Profit and loss reserves at 28 February 2023 per restated statutory accounts - £154,220

 
Page 8