Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-302857842true2023-04-19falseNo description of principal activity1trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 14814749 2023-04-18 14814749 2023-04-19 2024-04-30 14814749 2022-04-19 2023-04-18 14814749 2024-04-30 14814749 c:Director1 2023-04-19 2024-04-30 14814749 d:FreeholdInvestmentProperty 2023-04-19 2024-04-30 14814749 d:FreeholdInvestmentProperty 2024-04-30 14814749 d:LeaseholdInvestmentProperty 2023-04-19 2024-04-30 14814749 d:LeaseholdInvestmentProperty 2024-04-30 14814749 d:CurrentFinancialInstruments 2024-04-30 14814749 d:Non-currentFinancialInstruments 2024-04-30 14814749 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 14814749 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 14814749 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-04-30 14814749 d:ShareCapital 2023-04-19 2024-04-30 14814749 d:ShareCapital 2024-04-30 14814749 d:SharePremium 2023-04-19 2024-04-30 14814749 d:SharePremium 2024-04-30 14814749 d:RetainedEarningsAccumulatedLosses 2023-04-19 2024-04-30 14814749 d:RetainedEarningsAccumulatedLosses 2024-04-30 14814749 c:FRS102 2023-04-19 2024-04-30 14814749 c:AuditExempt-NoAccountantsReport 2023-04-19 2024-04-30 14814749 c:FullAccounts 2023-04-19 2024-04-30 14814749 c:PrivateLimitedCompanyLtd 2023-04-19 2024-04-30 14814749 2 2023-04-19 2024-04-30 14814749 e:PoundSterling 2023-04-19 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 14814749









IMPROVE RESIDENTIAL LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 APRIL 2024

 
IMPROVE RESIDENTIAL LIMITED
REGISTERED NUMBER: 14814749

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
Note
£

Fixed assets
  

Investment property
 4 
1,428,921

  
1,428,921

Current assets
  

Debtors: amounts falling due within one year
 5 
13,634

Cash at bank and in hand
 6 
16,974

  
30,608

Creditors: amounts falling due within one year
 7 
(98,679)

Net current (liabilities)/assets
  
 
 
(68,071)

Total assets less current liabilities
  
1,360,850

Creditors: amounts falling due after more than one year
 8 
(763,823)

  

Net assets
  
597,027


Capital and reserves
  

Called up share capital 
  
200

Share premium account
  
590,177

Profit and loss account
  
6,650

  
597,027


The director considers 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 period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his 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 on 19 November 2024.

Page 1

 
IMPROVE RESIDENTIAL LIMITED
REGISTERED NUMBER: 14814749
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024




................................................
Paul Francis Disley
Director

The notes on pages 4 to 9 form part of these financial statements.

Page 2

 
IMPROVE RESIDENTIAL LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 30 APRIL 2024


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


Comprehensive income for the period

Profit for the period

-
-
6,650
6,650


Other comprehensive income for the period
-
-
-
-


Total comprehensive income for the period
-
-
6,650
6,650


Contributions by and distributions to owners

Shares issued during the period
200
590,177
-
590,377


Total transactions with owners
200
590,177
-
590,377


At 30 April 2024
200
590,177
6,650
597,027

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
IMPROVE RESIDENTIAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

1.


General information

The legal form of the entity is a private company limited by shares registered in England and Wales and
the registered address is situated at Unit 3 Bradburys Court, Lyon Road, Harrow, Middlesex, HA1 2BY.

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:

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.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
IMPROVE RESIDENTIAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
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 period in which they are incurred.

 
2.6

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 reporting date in the countries where the Company operates and generates income.


 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers 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.

 
2.8

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.

 
2.9

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.

 
2.10

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 5

 
IMPROVE RESIDENTIAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

3.


Employees




The average monthly number of employees, including directors, during the period was 1.


4.


Investment property


Freehold investment property
Long term leasehold investment property
Total

£
£
£



Valuation


Additions at cost
1,366,421
62,500
1,428,921



At 30 April 2024
1,366,421
62,500
1,428,921

The 2024 valuations were made by Pinnacle Surveyor, 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
£


Historic cost
1,428,921

1,428,921


5.


Debtors

2024
£


Other debtors
13,634

13,634


Page 6

 
IMPROVE RESIDENTIAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

6.


Cash and cash equivalents

2024
£

Cash at bank and in hand
16,974

16,974



7.


Creditors: Amounts falling due within one year

2024
£

Corporation tax
1,513

Other creditors
94,736

Accruals and deferred income
2,430

98,679


Page 7

 
IMPROVE RESIDENTIAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

8.


Creditors: Amounts falling due after more than one year

2024
£

Bank loans
763,823

763,823


The following liabilities were secured:

2024
£



Bank Loans
763,823

763,823

Details of security provided:

The bank and other loans are secured against specific investment properties by way of fixed charge.

The aggregate amount of liabilities repayable wholly or in part more than five years after the reporting date is:

2024
£


Repayable other than by instalments
763,823

763,823

The amounts repayable other than by instalments are interest only mortgages with a repayment terms becoming due between 3 and 25 years from the balance sheet date carrying annual interest rates between 1.75% to 4.63%.

Page 8

 
IMPROVE RESIDENTIAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
£




Amounts falling due after more than 5 years

Bank loans
763,823

763,823

763,823

 
Page 9