Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31falsefalsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-01-01No description of principal activity31true 09074158 2023-01-01 2023-12-31 09074158 2022-01-01 2022-12-31 09074158 2023-12-31 09074158 2022-12-31 09074158 c:Director1 2023-01-01 2023-12-31 09074158 d:FreeholdInvestmentProperty 2023-12-31 09074158 d:FreeholdInvestmentProperty 2022-12-31 09074158 d:CurrentFinancialInstruments 2023-12-31 09074158 d:CurrentFinancialInstruments 2022-12-31 09074158 d:Non-currentFinancialInstruments 2023-12-31 09074158 d:Non-currentFinancialInstruments 2022-12-31 09074158 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 09074158 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 09074158 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 09074158 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 09074158 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 09074158 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 09074158 d:ShareCapital 2023-12-31 09074158 d:ShareCapital 2022-12-31 09074158 d:RetainedEarningsAccumulatedLosses 2023-12-31 09074158 d:RetainedEarningsAccumulatedLosses 2022-12-31 09074158 c:FRS102 2023-01-01 2023-12-31 09074158 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09074158 c:FullAccounts 2023-01-01 2023-12-31 09074158 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09074158 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 09074158










LW PRIVATE OFFICE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
LW PRIVATE OFFICE LIMITED
REGISTERED NUMBER: 09074158

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
1,718,094
1,718,094

Current assets
  

Debtors: amounts falling due within one year
 5 
125,875
102,397

Creditors: amounts falling due within one year
 6 
(881,885)
(874,710)

Net current liabilities
  
 
 
(756,010)
 
 
(772,313)

Creditors: amounts falling due after more than one year
 7 
(1,035,000)
(1,035,000)

  

Net liabilities
  
(72,916)
(89,219)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(73,016)
(89,319)

  
(72,916)
(89,219)


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: 




N El-Imad
Director

Date: 12 November 2024

Page 1

 
LW PRIVATE OFFICE LIMITED
REGISTERED NUMBER: 09074158
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The notes on pages 3 to 7 form part of these financial statements.
Page 2

 
LW PRIVATE OFFICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

LW Private Office Limited is a private company limited by shares and registered in England and Wales. The Company's registered number is 09074158. Its registered office address is Interpark House, 7 Down Street, London W1J 7AJ.
The principal activity of the Company is that of buying and selling real estate.
The Company's functional and presentational currency is GBP.

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

Going concern

The financial statements have been prepared on the going concern basis which, inter alia, is based on the directors’ reasonable expectation that the Company has adequate resources to continue to operate as a going concern for at least twelve months from the date of their approval.
In making the assessment of the appropriateness of this basis, the directors have considered the trading of the Company since the year end and the facilities that are either committed to the Company for a period of at least twelve months from the date of approval of the financial statements or which they consider will probably be available to the Company during such period.
After careful consideration, the directors consider that they have reasonable grounds to believe that the Company can be regarded as a going concern and, for this reason, they continue to adopt the going concern basis in preparing the Company’s financial statements.

 
2.3

Revenue

Revenue relates to rental income from investment property which is leased out under operating leases and is recognised in the statement of comprehensive income on an accruals basis over the term of the lease.

 
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.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
LW PRIVATE OFFICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Investment property

Investment property is measured initially at its cost, including related transaction costs such as advisory costs, notary costs, transfer taxes and borrowing costs.
After initial recognition, investment property is carried at fair value determined annually 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. Changes in fair value are recognised in the statement of comprehensive income.
Investment property is derecognised when it has been disposed of or when the investment property is permanently withdrawn from use and no future economic benefit is expected from its disposal. Gains and losses on disposal of the investment property is recognised in the statement of comprehensive income in the year of disposal.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. 

 
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.

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

Financial assets and liabilities are offset, with 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.

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.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Page 4

 
LW PRIVATE OFFICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.9
Financial instruments (continued)

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

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 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.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 3).




Page 5

 
LW PRIVATE OFFICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Investment property


Freehold investment property

£



Valuation


At 1 January 2023
1,718,094



At 31 December 2023
1,718,094

The investment property has been included at the acquisition price which the directors consider to be its fair value as at the year end.




5.


Debtors

2023
2022
£
£


Other debtors
98,436
55,687

Prepayments
27,439
46,710

125,875
102,397



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
1,841
1,738

Other creditors
850,299
752,458

Accruals
29,745
120,514

881,885
874,710



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
1,035,000
1,035,000


Page 6

 
LW PRIVATE OFFICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£



Amounts falling due 2-5 years

Bank loans
1,035,000
1,035,000



The Company renewed its bank loan of £1,035,000 on 12 July 2021. The bank loan is denominated in Sterling with interest being charged at 2.25% over the Sterling Overnight Index Average (SONIA). The final instalment is due 1 April 2026.


9.


Controlling party

There is not considered to be any control or ultimate controlling party.

Page 7