Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseNo description of principal activity44truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10447313 2023-04-01 2024-03-31 10447313 2022-04-01 2023-03-31 10447313 2024-03-31 10447313 2023-03-31 10447313 c:Director3 2023-04-01 2024-03-31 10447313 d:FreeholdInvestmentProperty 2023-04-01 2024-03-31 10447313 d:FreeholdInvestmentProperty 2024-03-31 10447313 d:FreeholdInvestmentProperty 2023-03-31 10447313 d:FreeholdInvestmentProperty 2 2023-04-01 2024-03-31 10447313 d:CurrentFinancialInstruments 2024-03-31 10447313 d:CurrentFinancialInstruments 2023-03-31 10447313 d:Non-currentFinancialInstruments 2024-03-31 10447313 d:Non-currentFinancialInstruments 2023-03-31 10447313 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 10447313 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10447313 d:ShareCapital 2024-03-31 10447313 d:ShareCapital 2023-03-31 10447313 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 10447313 d:RetainedEarningsAccumulatedLosses 2024-03-31 10447313 d:RetainedEarningsAccumulatedLosses 2023-03-31 10447313 d:TaxLossesCarry-forwardsDeferredTax 2024-03-31 10447313 d:TaxLossesCarry-forwardsDeferredTax 2023-03-31 10447313 d:OtherDeferredTax 2024-03-31 10447313 d:OtherDeferredTax 2023-03-31 10447313 c:OrdinaryShareClass1 2023-04-01 2024-03-31 10447313 c:OrdinaryShareClass1 2024-03-31 10447313 c:OrdinaryShareClass1 2023-03-31 10447313 c:OrdinaryShareClass2 2023-04-01 2024-03-31 10447313 c:OrdinaryShareClass2 2024-03-31 10447313 c:OrdinaryShareClass2 2023-03-31 10447313 c:OrdinaryShareClass3 2023-04-01 2024-03-31 10447313 c:OrdinaryShareClass3 2024-03-31 10447313 c:OrdinaryShareClass3 2023-03-31 10447313 c:FRS102 2023-04-01 2024-03-31 10447313 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 10447313 c:FullAccounts 2023-04-01 2024-03-31 10447313 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10447313 f:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10447313









EL (AVONMOUTH) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
EL (AVONMOUTH) LIMITED
REGISTERED NUMBER: 10447313

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 5 
5,620,000
3,500,000

  
5,620,000
3,500,000

Current assets
  

Debtors: amounts falling due after more than one year
 6 
22,901
-

Debtors: amounts falling due within one year
 6 
844,150
834,346

  
867,051
834,346

Creditors: amounts falling due within one year
 7 
(4,051,978)
(3,535,230)

Net current liabilities
  
 
 
(3,184,927)
 
 
(2,700,884)

Total assets less current liabilities
  
2,435,073
799,116

Provisions for liabilities
  

Deferred tax
 8 
(762,783)
(203,410)

  
 
 
(762,783)
 
 
(203,410)

Net assets
  
1,672,290
595,706


Capital and reserves
  

Called up share capital 
 9 
200
200

Profit and loss account
 10 
1,672,090
595,506

  
1,672,290
595,706


Page 1

 
EL (AVONMOUTH) LIMITED
REGISTERED NUMBER: 10447313
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 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 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 by: 




B Lansman
Director

Date: 12 November 2024

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

Page 2

 
EL (AVONMOUTH) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

EL (Avonmouth) Limited is a private company limited by shares and incorporated in England and Wales (registered number: 10447313). 
The registered office is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH, and the principal place of business address is 14-16 Great Pulteney Street, London, W1F 9ND.
The principal activity of the company continued to be that of property investment.
The financial statements are presented in Sterling, which is the functional currency of the company

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

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

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

 
EL (AVONMOUTH) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

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.

 
2.5

Investment property

Investment property is carried at fair value determined annually by the directors 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 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.

 
2.7

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.

Page 4

 
EL (AVONMOUTH) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

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.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the Company's accounting policies, which are described in note 2, management is required to make judgments, estimates and assumptions about the carrying values of assets and the liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
 
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revisions affect only that period, or in the period of the revisions and future periods if the revision affects both current and future periods.


4.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).

Page 5

 
EL (AVONMOUTH) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Investment property


Investment property

£



Valuation


At 1 April 2023
3,500,000


Additions at cost
50,332


Surplus on revaluation
2,069,668



At 31 March 2024
5,620,000

The 2024 valuations were made by Carter Jonas, on an open market value for existing use basis.





If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
1,697,646
1,647,314

1,697,646
1,647,314


6.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
22,901
-

22,901
-


2024
2023
£
£

Due within one year

Trade debtors
32,761
-

Other debtors
803,020
825,977

Prepayments and accrued income
8,369
8,369

844,150
834,346


Page 6

 
EL (AVONMOUTH) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
540
450

Amounts owed to group undertakings
4,025,864
3,511,625

Other taxation and social security
-
642

Accruals and deferred income
25,574
22,513

4,051,978
3,535,230



8.


Deferred taxation




2024


£






At beginning of year
(203,410)


Charged to profit or loss
(559,373)



At end of year
(762,783)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Tax losses carried forward
217,806
259,761

Fair value movement
(980,588)
(463,171)

(762,782)
(203,410)


9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



135 (2023 - 135) Ordinary-A shares of £1.00 each
135
135
45 (2023 - 45) Ordinary-B shares of £1.00 each
45
45
20 (2023 - 20) Ordinary-C shares of £1.00 each
20
20

200

200


Page 7

 
EL (AVONMOUTH) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Reserves

Profit and loss account

Profit and loss reserves relate to realised trading income and expenditure, as well as unrealised fair value movements on investment property and the deferred taxation thereon.


11.


Related party transactions

Included within creditors is £4,025,864 (2023: £3,511,625) due to related parties.


12.


Controlling party

The immediate parent entity is FPC Electric Land Limited, a limited company incorporated in England and Wales (registered number: 09542958).
The ultimate parent company is FPC Income & Growth PLC, a public company limited by shares incorporated in England and Wales (registered number: 11494690).
The registered office address for all entities is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.

Page 8