Caseware UK (AP4) 2023.0.135 2023.0.135 3false2023-03-01falseNo description of principal activity3truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06509916 2023-03-01 2024-02-29 06509916 2022-03-01 2023-02-28 06509916 2024-02-29 06509916 2023-02-28 06509916 2022-03-01 06509916 c:Director1 2023-03-01 2024-02-29 06509916 d:CurrentFinancialInstruments 2024-02-29 06509916 d:CurrentFinancialInstruments 2023-02-28 06509916 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 06509916 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 06509916 d:ShareCapital 2023-03-01 2024-02-29 06509916 d:ShareCapital 2024-02-29 06509916 d:ShareCapital 2022-03-01 2023-02-28 06509916 d:ShareCapital 2023-02-28 06509916 d:ShareCapital 2022-03-01 06509916 d:RevaluationReserve 2023-03-01 2024-02-29 06509916 d:RevaluationReserve 2024-02-29 06509916 d:RevaluationReserve 2022-03-01 2023-02-28 06509916 d:RevaluationReserve 2023-02-28 06509916 d:RevaluationReserve 2022-03-01 06509916 d:RetainedEarningsAccumulatedLosses 2023-03-01 2024-02-29 06509916 d:RetainedEarningsAccumulatedLosses 2024-02-29 06509916 d:RetainedEarningsAccumulatedLosses 2022-03-01 2023-02-28 06509916 d:RetainedEarningsAccumulatedLosses 2023-02-28 06509916 d:RetainedEarningsAccumulatedLosses 2022-03-01 06509916 c:OrdinaryShareClass1 2023-03-01 2024-02-29 06509916 c:OrdinaryShareClass1 2024-02-29 06509916 c:OrdinaryShareClass1 2023-02-28 06509916 c:OrdinaryShareClass2 2023-03-01 2024-02-29 06509916 c:OrdinaryShareClass2 2024-02-29 06509916 c:OrdinaryShareClass2 2023-02-28 06509916 c:OrdinaryShareClass3 2023-03-01 2024-02-29 06509916 c:OrdinaryShareClass3 2024-02-29 06509916 c:OrdinaryShareClass3 2023-02-28 06509916 c:OrdinaryShareClass4 2023-03-01 2024-02-29 06509916 c:OrdinaryShareClass4 2024-02-29 06509916 c:OrdinaryShareClass4 2023-02-28 06509916 c:OrdinaryShareClass5 2023-03-01 2024-02-29 06509916 c:OrdinaryShareClass5 2024-02-29 06509916 c:OrdinaryShareClass5 2023-02-28 06509916 c:FRS102 2023-03-01 2024-02-29 06509916 c:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 06509916 c:FullAccounts 2023-03-01 2024-02-29 06509916 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 06509916 d:Subsidiary1 2023-03-01 2024-02-29 06509916 d:Subsidiary1 1 2023-03-01 2024-02-29 06509916 d:Subsidiary2 2023-03-01 2024-02-29 06509916 d:Subsidiary2 1 2023-03-01 2024-02-29 06509916 d:OtherDeferredTax 2024-02-29 06509916 d:OtherDeferredTax 2023-02-28 06509916 2 2023-03-01 2024-02-29 06509916 6 2023-03-01 2024-02-29 06509916 1 2024-02-29 06509916 2 2024-02-29 06509916 1 2023-02-28 06509916 2 2023-02-28 06509916 f:PoundSterling 2023-03-01 2024-02-29 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 06509916










Peaseblossom Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 29 February 2024

 
Peaseblossom Limited
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of Peaseblossom Limited for the year ended 29 February 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Peaseblossom Limited for the year ended 29 February 2024 which comprise  the Balance sheet, the Statement of changes in equity and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Peaseblossom Limited, as a body, in accordance with the terms of our engagement letter dated 24 July 2024Our work has been undertaken solely to prepare for your approval the financial statements of Peaseblossom Limited and state those matters that we have agreed to state to the Board of directors of Peaseblossom Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Peaseblossom Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Peaseblossom Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Peaseblossom Limited. You consider that Peaseblossom Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Peaseblossom Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
2nd Floor
168 Shoreditch High Street
London
E1 6RA
25 November 2024
Page 1

 
Peaseblossom Limited
Registered number: 06509916

Balance sheet
As at 29 February 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Investments
 5 
21,520,018
24,680,380

  
21,520,018
24,680,380

Current assets
  

Debtors: amounts falling due within one year
 6 
16,180
68,817

Bank & cash balances
  
10,254,170
9,870,731

  
10,270,350
9,939,548

Creditors: amounts falling due within one year
 7 
(5,714,596)
(6,336,479)

Net current assets
  
 
 
4,555,754
 
 
3,603,069

Total assets less current liabilities
  
26,075,772
28,283,449

Provisions for liabilities
  

Deferred tax
 8 
-
(370,360)

  
 
 
-
 
 
(370,360)

Net assets
  
26,075,772
27,913,089


Capital and reserves
  

Called up share capital 
 9 
10,100
10,100

Revaluation reserve
 10 
2,223,848
2,577,957

Profit and loss account
 10 
23,841,824
25,325,032

  
26,075,772
27,913,089


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: 

R G Williams
Director
Date: 25 November 2024

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

Page 2

 
Peaseblossom Limited
 

Statement of changes in equity
For the year ended 29 February 2024


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£


At 1 March 2022
10,100
2,805,015
23,585,704
26,400,819


Comprehensive income for the year

Profit for the year
-
-
1,594,050
1,594,050
Total comprehensive income for the year
-
-
1,594,050
1,594,050


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(81,780)
(81,780)

Transfer to/from profit and loss account
-
(227,058)
227,058
-


Total transactions with owners
-
(227,058)
145,278
(81,780)



At 1 March 2023
10,100
2,577,957
25,325,032
27,913,089


Comprehensive income for the year

Loss for the year
-
-
(1,836,317)
(1,836,317)
Total comprehensive income for the year
-
-
(1,836,317)
(1,836,317)


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(1,000)
(1,000)

Transfer to/from profit and loss account
-
(354,109)
354,109
-


Total transactions with owners
-
(354,109)
353,109
(1,000)


At 29 February 2024
10,100
2,223,848
23,841,824
26,075,772


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

Page 3

 
Peaseblossom Limited
 

 
Notes to the financial statements
For the year ended 29 February 2024

1.


General information

The company is a private limited company, incorporated and domiciled in England & Wales. The Company's registered office is 2nd Floor, 168 Shoreditch High Street, London, E1 6RA and their principal activity continued to be that of an investment holding 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.3

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.

 
2.4

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.

 
2.5

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.

 
2.6

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 4

 
Peaseblossom Limited
 

 
Notes to the financial statements
For the year ended 29 February 2024

2.Accounting policies (continued)

 
2.7

Interest income

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

 
2.8

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.


Departure from FRS 102

The 10% cumulative preference shares are disclosed within share capital. This disclosure is a departure from FRS 102 Section 22 'Liabilities and Equity.'


4.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3). 

Page 5

 
Peaseblossom Limited
 

 
Notes to the financial statements
For the year ended 29 February 2024

5.


Fixed asset investments








Investments in subsidiary companies
Listed investments
Unlisted investments
Loan notes
Total

£
£
£
£
£



Cost or valuation


At 1 March 2023
8,500,000
18,421,933
8,033
116,671
27,046,637


Additions
-
177,982
-
-
177,982


Revaluations
(2,000,000)
(724,469)
-
-
(2,724,469)



At 29 February 2024

6,500,000
17,875,446
8,033
116,671
24,500,150



Impairment


At 1 March 2023
-
2,241,554
8,032
116,671
2,366,257


Charge for the period
-
613,875
-
-
613,875



At 29 February 2024

-
2,855,429
8,032
116,671
2,980,132



Net book value



At 29 February 2024
6,500,000
15,020,017
1
-
21,520,018



At 28 February 2023
8,500,000
16,180,379
1
-
24,680,380

Page 6

 
Peaseblossom Limited
 

 
Notes to the financial statements
For the year ended 29 February 2024

Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Registered office

Principal activity

Class of shares

Holding

Cardinal Group Limited
England & Wales
Investment in property and securities
£1 Ordinary
50%
Ford-Camber Limited *
England & Wales
Property investment
£1 Ordinary
50%

* The company has a direct interest of 10% and an indirect interest via Cardinal Group Limited of 40%. 


6.


Debtors

29 February
28 February
2024
2023
£
£


Other debtors
16,180
68,817



7.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Other loans
5,708,737
6,332,737

Accruals and deferred income
5,859
3,742

5,714,596
6,336,479


Page 7

 
Peaseblossom Limited
 

 
Notes to the financial statements
For the year ended 29 February 2024

8.


Deferred taxation






2024


£






At beginning of year
(370,360)


Charged to profit or loss
370,360



At end of year
-

The deferred taxation balance is made up as follows:

29 February
28 February
2024
2023
£
£


Revaluation gains on investments
-
(370,360)

-
(370,360)


9.


Share capital

29 February
28 February
2024
2023
£
£
Allotted, called up and fully paid



10 (2023 - 10) 'D' Ordinary shares of £1.00 each
10
10
50 (2023 - 50) 'A' Ordinary shares of £1.00 each
50
50
10 (2023 - 10) 'B' Ordinary shares of £1.00 each
10
10
10 (2023 - 10) 'C' Ordinary shares of £1.00 each
10
10
10 (2023 - 10) 'E' Ordinary shares of £1.00 each
10
10
10 (2023 - 10) 'F' Ordinary shares of £1.00 each
10
10
10,000 (2023 - 10,000) Preference shares of £1.00 each
10,000
10,000

10,100

10,100


All holders of Ordinary and Preference shares carry voting rights for each held. 
The holder of the Preference shares is entitled to a fixed cumulative preference dividend at the rate of 10% per annum payable on the amount paid up on each share. The dividends are payable annually out of the profits available for distribution in arrears on 1 April each year.


Page 8

 
Peaseblossom Limited
 

 
Notes to the financial statements
For the year ended 29 February 2024

10.


Reserves

Revaluation reserve

The revaluation reserve is used to record the revaluation gains on investments, less any related provision for deferred taxation.

Profit & loss account

The profit and loss account comprises all current and prior period retained profits and losses.
Share capital
This represents the nominal value of shares that have been issued by the company


11.


Related party transactions

During the year, the company made repayments to R G Williams, a director of the company, of £624,000 (2023: £634,000). At the year end a balance of £5,708,737 (2023: £6,332,737) remained outstanding, and is included in 'Other loans' within note 7 to these accounts. The loan provided to the company is non interest bearing and is repayable on demand.
In addition the company received interim dividends of £200,004 (2023: £4,056,626) from Cardinal Group Limited, a company in which Peaseblossom Limited holds a participating interest.
In addition the company received interim dividends of £Nil (2023: £70,000) from Ford-Camber Limited, a company in which Peaseblossom Limited holds a participating interest.
During the year, the company paid a dividend on preference shares of £1,000 (2023: £1,000) to R G Williams, a director of the company. During the year, the company paid dividends on ordinary shares of £Nil (2023: £32,312) to directors of the company. 


12.


Controlling party

The company is under the control of R G Williams.


Page 9