Caseware UK (AP4) 2023.0.135 2023.0.135 2023-04-01false11No description of principal activity10falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00897533 2023-04-01 2024-03-31 00897533 2022-04-01 2023-03-31 00897533 2024-03-31 00897533 2023-03-31 00897533 c:Director4 2023-04-01 2024-03-31 00897533 d:Buildings 2023-04-01 2024-03-31 00897533 d:PlantMachinery 2024-03-31 00897533 d:PlantMachinery 2023-03-31 00897533 d:MotorVehicles 2023-04-01 2024-03-31 00897533 d:OfficeEquipment 2023-04-01 2024-03-31 00897533 d:OtherPropertyPlantEquipment 2024-03-31 00897533 d:OtherPropertyPlantEquipment 2023-03-31 00897533 d:FreeholdInvestmentProperty 2024-03-31 00897533 d:FreeholdInvestmentProperty 2023-03-31 00897533 d:CurrentFinancialInstruments 2024-03-31 00897533 d:CurrentFinancialInstruments 2023-03-31 00897533 d:Non-currentFinancialInstruments 2024-03-31 00897533 d:Non-currentFinancialInstruments 2023-03-31 00897533 d:Non-currentFinancialInstruments 1 2024-03-31 00897533 d:Non-currentFinancialInstruments 1 2023-03-31 00897533 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 00897533 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 00897533 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 00897533 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 00897533 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 00897533 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 00897533 d:ShareCapital 2024-03-31 00897533 d:ShareCapital 2023-03-31 00897533 d:InvestmentPropertiesRevaluationReserve 2024-03-31 00897533 d:InvestmentPropertiesRevaluationReserve 2023-03-31 00897533 d:RetainedEarningsAccumulatedLosses 2024-03-31 00897533 d:RetainedEarningsAccumulatedLosses 2023-03-31 00897533 c:FRS102 2023-04-01 2024-03-31 00897533 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 00897533 c:FullAccounts 2023-04-01 2024-03-31 00897533 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 00897533 d:Subsidiary1 2023-04-01 2024-03-31 00897533 d:Subsidiary1 1 2023-04-01 2024-03-31 00897533 6 2023-04-01 2024-03-31 00897533 f:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: 00897533













Mowden Park Estate Company Limited

Financial statements
Information for filing with the registrar

31 March 2024




 
Mowden Park Estate Company Limited


Balance sheet
At 31 March 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
405,167
405,167

Investments
 5 
2,769,250
2,769,250

Investment property
 6 
10,580,000
10,580,000

  
13,754,417
13,754,417

Current assets
  

Debtors: amounts falling due within one year
 7 
1,815,090
1,995,913

Bank and cash balances
  
221,240
340,022

  
2,036,330
2,335,935

Creditors: amounts falling due within one year
 8 
(1,498,618)
(1,420,009)

Net current assets
  
 
 
537,712
 
 
915,926

Total assets less current liabilities
  
14,292,129
14,670,343

Creditors: amounts falling due after more than one year
 9 
(8,825,000)
(9,025,000)

Provisions for liabilities
  

Deferred tax
  
(378,277)
(378,319)

  
 
 
(378,277)
 
 
(378,319)

Net assets
  
5,088,852
5,267,024


Capital and reserves
  

Called up share capital 
  
4,049,358
4,049,358

Investment property reserve
  
722,035
722,035

Profit and loss account
  
317,459
495,631

Shareholders' funds
  
5,088,852
5,267,024


1

 
Mowden Park Estate Company Limited

    
Balance sheet (continued)
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 on 24 September 2024.




E R T Yuill
Director

Registered number: 00897533
The notes on pages 3 to 9 form part of these financial statements. 

2

 
Mowden Park Estate Company Limited
 
 

Notes to the financial statements
Year ended 31 March 2024

1.


General information

The company is a private company limited by shares, incorporated and domiciled in the United Kingdom. The address of the registered office is Hub 1 The Innovation Centre, Venture Court, Queens Meadow Business Park, Hartlepool, TS25 5TG.

2.Accounting policies

 
2.1

Statement of compliance

The financial statements have been prepared in accordance with Section 1A of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland' (FRS 102) and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover comprises revenue recognised by the company in respect of rents receivable during the year, exclusive of Value Added Tax. 

 
2.3

Borrowing costs

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

 
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.

3

 
Mowden Park Estate Company Limited
 

 
Notes to the financial statements
Year ended 31 March 2024

2.Accounting policies (continued)

 
2.5

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, using the straight-line method.

The estimated useful lives range as follows:

Equity shares and ground rent
-
not depreciated
Motor vehicles
-
4 years
Office equipment
-
3 years

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.

 
2.6

Investment property

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. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
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.
The company no longer enters into complex financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2023 - 11).

4

 
Mowden Park Estate Company Limited
 
 

Notes to the financial statements
Year ended 31 March 2024

4.


Tangible fixed assets





Equity shares and ground rents
Other fixed assets
Total

£
£
£



Cost or valuation


At 1 April 2023
405,153
131,414
536,567



At 31 March 2024

405,153
131,414
536,567



Depreciation


At 1 April 2023
-
131,400
131,400



At 31 March 2024

-
131,400
131,400



Net book value



At 31 March 2024
405,153
14
405,167



At 31 March 2023
405,153
14
405,167

5

 
Mowden Park Estate Company Limited
 
 

Notes to the financial statements
Year ended 31 March 2024

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2023
2,769,250



At 31 March 2024
2,769,250





Subsidiary undertaking


The following was a subsidiary undertaking of the company:

Name

Principal activity

Class of shares

Holding

South Shore One Limited
Property management
Ordinary
100%

The aggregate of the share capital and reserves as at 31 March 2024 and the profit or loss for the year ended on that date for the subsidiary undertaking were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)

South Shore One Limited
3,006,784
208,509

6

 
Mowden Park Estate Company Limited
 
 

Notes to the financial statements
Year ended 31 March 2024

6.


Investment property


Investment property

£



Valuation


At 1 April 2023
10,580,000



At 31 March 2024
10,580,000

No formal valuations were made in 2024, the last formal valuation was made in 2022 by Knight Frank, on an open market value for existing use basis. The directors are satisfied that the carrying value at the year end was consistent with their assessment of market value. 

2024
2023
£
£

Revaluation reserves


At 1 April 2023
722,035
722,035

At 31 March 2024
722,035
722,035


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
6,166,918
6,166,918

6,166,918
6,166,918


7.


Debtors

2024
2023
£
£


Trade debtors
37,326
38,718

Amounts owed by group undertakings
1,490,201
1,703,205

Other debtors
284,781
251,490

Prepayments and accrued income
2,782
2,500

1,815,090
1,995,913


7

 
Mowden Park Estate Company Limited
 
 

Notes to the financial statements
Year ended 31 March 2024

8.


Creditors: amounts falling due within one year

2024
2023
£
£

Other loans
600,000
600,000

Trade creditors
5,475
1,720

Loan due to related party
200,000
200,000

Other taxation and social security
18,188
16,099

Other creditors
674,955
602,190

1,498,618
1,420,009



9.


Creditors: amounts falling due after more than one year

2024
2023
£
£

Loan due to related party
7,450,000
7,650,000

Share capital treated as debt
1,375,000
1,375,000

8,825,000
9,025,000



10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Other loans
600,000
600,000

Loan due to related party
200,000
200,000


800,000
800,000


Amounts falling due 2-5 years

Loan due to related party
7,450,000
7,650,000


7,450,000
7,650,000


8,250,000
8,450,000


8

 
Mowden Park Estate Company Limited
 
 

Notes to the financial statements
Year ended 31 March 2024

11.


Contingent liabilities

The company is party to a multilateral guarantee alongside South Shore One Limited (subsidiary company) to support the borrowings of The YW Investment Company Limited from its bankers. At 31 March 2024 the borrowings to which the guarantee refers totalled £7,650,000 (2023: £7,850,000).

9