Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-312023-02-21falseproperty development and rentals2truetrue 14680100 2023-02-20 14680100 2023-02-21 2024-07-31 14680100 2021-02-21 2023-02-20 14680100 2024-07-31 14680100 c:Director1 2023-02-21 2024-07-31 14680100 d:CurrentFinancialInstruments 2024-07-31 14680100 d:Non-currentFinancialInstruments 2024-07-31 14680100 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 14680100 d:Non-currentFinancialInstruments d:AfterOneYear 2024-07-31 14680100 d:ShareCapital 2023-02-21 2024-07-31 14680100 d:ShareCapital 2024-07-31 14680100 d:RetainedEarningsAccumulatedLosses 2023-02-21 2024-07-31 14680100 d:RetainedEarningsAccumulatedLosses 2024-07-31 14680100 c:OrdinaryShareClass1 2023-02-21 2024-07-31 14680100 c:OrdinaryShareClass1 2024-07-31 14680100 c:FRS102 2023-02-21 2024-07-31 14680100 c:Audited 2023-02-21 2024-07-31 14680100 c:FullAccounts 2023-02-21 2024-07-31 14680100 c:PrivateLimitedCompanyLtd 2023-02-21 2024-07-31 14680100 c:SmallCompaniesRegimeForAccounts 2023-02-21 2024-07-31 14680100 2 2023-02-21 2024-07-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 14680100









AA SUBCO LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE 18 MONTH PERIOD ENDED ENDED 31 JULY 2024

 
AA SUBCO LIMITED
REGISTERED NUMBER: 14680100

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024

31 July
2024
Note
£

  

Current assets
  

Stocks
  
21,360,467

Debtors: amounts falling due within one year
 4 
3,339,324

Cash at bank and in hand
  
61,204

  
24,760,995

Creditors: amounts falling due within one year
 5 
(15,593,046)

Net current assets
  
 
 
9,167,949

Total assets less current liabilities
  
9,167,949

Creditors: amounts falling due after more than one year
 6 
(10,494,380)

  

Net (liabilities)/assets
  
(1,326,431)


Capital and reserves
  

Called up share capital 
 7 
100

Profit and loss account
  
(1,326,531)

  
(1,326,431)


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: 






G D Thwaites
Director

Date: 14 November 2024

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

Page 1

 
AA SUBCO LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE 18 MONTH PERIOD ENDED ENDED 31 JULY 2024


Called up share capital
Profit and loss account
Total equity

£
£
£




Loss for the 18 Month period ended
-
(1,326,531)
(1,326,531)
Total comprehensive income for the 18 Month period ended
-
(1,326,531)
(1,326,531)


Contributions by and distributions to owners

Shares issued during the 18 Month period ended
100
-
100


Total transactions with owners
100
-
100


At 31 July 2024
100
(1,326,531)
(1,326,431)


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

Page 2

 
AA SUBCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 18 MONTH PERIOD ENDED ENDED 31 JULY 2024

1.


General information

The Company is a private company limited by shares and is incorporated in England and Wales.
The principal activity of the Company is that of property development.
The Registered Office address is 35 Ballards Lane, London, N3 1XW.

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

Going concern

The financial statements have been prepared on the going concern basis as in the opinion of the directors the company will generate future income sufficient to cover the liabilities of the company.
The company has made a loss in the year and relies on the support of a group entity which has confirmed its intention to provide support for a period of twelve months from the date of signing of the
accounts.

 
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:

Turnover represents the sale proceeds of property sales completed during the year. Other income relates to the letting of property.

 
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.

Page 3

 
AA SUBCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 18 MONTH PERIOD ENDED ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.6

Stocks

Stock comprises development land and property stated at the lower of cost and selling price less costs to complete and sell. Cost is based on the cost of purchase.

At each reporting 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.

 
2.7

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

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.
(i) Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.
Such assets are subsequently carried at amortised cost using the effective interest method. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

 
Page 4

 
AA SUBCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 18 MONTH PERIOD ENDED ENDED 31 JULY 2024

2.Accounting policies (continued)


2.8
Financial instruments (continued)

(iii) Offsetting
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously


3.


Employees

The average monthly number of employees, including directors, during the 18 Month period ended was 2.


4.


Debtors

31 July
2024
£


Trade debtors
124,805

Amounts owed by group undertakings
3,171,656

Other debtors
1,240

Prepayments and accrued income
41,623

3,339,324


Amounts due from group companies is unsecured, interest free and repayable on demand.


5.


Creditors: Amounts falling due within one year

31 July
2024
£

Bank loans
(1)

Trade creditors
4,105

Amounts owed to group undertakings
15,561,591

Accruals and deferred income
27,351

15,593,046


Amounts due from group companies is unsecured, interest free and repayable on demand.

Page 5

 
AA SUBCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 18 MONTH PERIOD ENDED ENDED 31 JULY 2024

6.


Creditors: Amounts falling due after more than one year

31 July
2024
£

Bank loans
10,494,380


The loan bears interest at 6.37% per annum, is secured over the property in the company, a fixed charge and a negative pledge and repayable in February 2029.


7.


Share capital

31 July
2024
£
Allotted, called up and fully paid


100  Ordinary shares of £1.00 each
100


100 Ordinary shares of £1 each were issued for a consideration of £100 during the period.


8.


Related party transactions

The Company has taken advantage of the exemption conferred by FRS 102 section 33.1A from the requirement to disclose transactions with other wholly owned group undertakings.


9.


Controlling party

The parent undertaking is Alton Aylesbury Limited, a company registered in England & Wales.
The registered office and principal place of business is 35 Ballards Lane, London, N3 1XW.


10.


Auditors' information

The auditors' report on the financial statements for the 18 Month period ended ended 31 July 2024 was unqualified.

The audit report was signed on 14 November 2024 by Nick Bishop FCA (Senior Statutory Auditor) on behalf of BKL Audit LLP.

 
Page 6