Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-30false2022-12-01falseNo description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11696452 2022-12-01 2023-11-30 11696452 2021-12-01 2022-11-30 11696452 2023-11-30 11696452 2022-11-30 11696452 2021-12-01 11696452 c:Director1 2022-12-01 2023-11-30 11696452 d:CurrentFinancialInstruments 2023-11-30 11696452 d:CurrentFinancialInstruments 2022-11-30 11696452 d:Non-currentFinancialInstruments 2023-11-30 11696452 d:Non-currentFinancialInstruments 2022-11-30 11696452 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 11696452 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 11696452 d:Non-currentFinancialInstruments d:AfterOneYear 2023-11-30 11696452 d:Non-currentFinancialInstruments d:AfterOneYear 2022-11-30 11696452 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-11-30 11696452 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-11-30 11696452 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-11-30 11696452 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-11-30 11696452 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-11-30 11696452 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-11-30 11696452 d:ShareCapital 2023-11-30 11696452 d:ShareCapital 2022-11-30 11696452 d:RetainedEarningsAccumulatedLosses 2023-11-30 11696452 d:RetainedEarningsAccumulatedLosses 2022-11-30 11696452 c:OrdinaryShareClass1 2022-12-01 2023-11-30 11696452 c:OrdinaryShareClass1 2023-11-30 11696452 c:OrdinaryShareClass1 2022-11-30 11696452 c:FRS102 2022-12-01 2023-11-30 11696452 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 11696452 c:FullAccounts 2022-12-01 2023-11-30 11696452 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 11696452 6 2022-12-01 2023-11-30 11696452 d:RetirementBenefitObligationsDeferredTax 2023-11-30 11696452 d:RetirementBenefitObligationsDeferredTax 2022-11-30 11696452 e:PoundSterling 2022-12-01 2023-11-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 11696452









UNIT 2 CURTAIN ROAD (2018) LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
UNIT 2 CURTAIN ROAD (2018) LTD
REGISTERED NUMBER: 11696452

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
1,458,439
1,458,439

Current assets
  

Debtors: amounts falling due within one year
 5 
33,336
38,797

Cash at bank and in hand
  
20,440
11,372

  
53,776
50,169

Creditors: amounts falling due within one year
 6 
(439,473)
(432,795)

Net current liabilities
  
 
 
(385,697)
 
 
(382,626)

Total assets less current liabilities
  
1,072,742
1,075,813

Creditors: amounts falling due after more than one year
 7 
(951,611)
(962,792)

Provisions for liabilities
  

Deferred tax
  
(145,528)
(145,528)

Net liabilities
  
(24,397)
(32,507)


Capital and reserves
  

Called up share capital 
 10 
1
1

Profit and loss account
  
(24,398)
(32,508)

  
(24,397)
(32,507)


Page 1

 
UNIT 2 CURTAIN ROAD (2018) LTD
REGISTERED NUMBER: 11696452
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023

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 year 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 28 November 2024.




N M Kennedy
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
UNIT 2 CURTAIN ROAD (2018) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

Unit 2 Curtain Road Limited ("the Company") is a private company limited by shares, incorporated in England and Wales. The address of the registered office is 44 Great Eastern Street, London, EC2A 3EP. 
The principle activity of the company is that of a property investment 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 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:

Rental Income
Rental income is in respect of the rental income from the investment property. Such income is recognised in the accounting period in which the services are rendered.

 
2.3

Finance costs

Finance costs are charged to the Statement of comprehensive income 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.

 
2.4

Borrowing costs

All borrowing costs are recognised in the Statement of comprehensive income in the year in which they are incurred.

Page 3

 
UNIT 2 CURTAIN ROAD (2018) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income 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.

 
2.6

Investment property

Investment property relates to the long leasehold interests. Investment property is carried at fair value determined annually by the directors or 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 the Statement of comprehensive income.

 
2.7

Debtors

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

 
2.8

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.

 
2.9

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 4

 
UNIT 2 CURTAIN ROAD (2018) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.10

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of comprehensive income in the year that the Company becomes aware of the obligation and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
 
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.11

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.


3.


Employees




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


4.


Fixed asset investments





Investment properties

£



Cost or valuation


At 1 December 2022
1,458,439



At 30 November 2023
1,458,439




The 2023 valuations are shown at cost as in the opinion of the director the value is not materially different.

Page 5

 
UNIT 2 CURTAIN ROAD (2018) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

5.


Debtors

2023
2022
£
£


Other debtors
-
6,322

Prepayments
33,336
32,475

33,336
38,797



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
5,742
-

Amounts owed to group undertakings
416,358
420,273

Corporation tax
2,007
1,156

Other creditors
12,866
11,366

Accruals and deferred income
2,500
-

439,473
432,795



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
951,611
962,792


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

2023
2022
£
£


Bank loans - repayable by instalments or otherwise
927,579
962,792

927,579
962,792

Bank loans of £918,000 are secured by way of fixed and floating charges over the assets of the company, including the investment properties, along with joint and several guarantees of the liabilities limited to £180,000 provided by the ultimate owners of the company, N Kennedy, R Connolly and P Summers.  

Page 6

 
UNIT 2 CURTAIN ROAD (2018) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
5,742
-


5,742
-

Amounts falling due 1-2 years

Bank loans
5,785
-


5,785
-

Amounts falling due 2-5 years

Bank loans
18,247
-


18,247
-

Amounts falling due after more than 5 years

Bank loans
927,579
962,792


Page 7

 
UNIT 2 CURTAIN ROAD (2018) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

9.


Deferred taxation




2023
2022


£

£






At beginning of year
(145,528)
(110,601)


Charged to profit or loss
-
(34,927)



At end of year
(145,528)
(145,528)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Others
145,528
145,528

145,528
145,528


10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary share of £1.00
1
1



11.


Related party transactions

At the balance sheet date, the Company owed £9,716 (2022 - £8,216) to a participator of the Company.
The company has taken advantage of the exemption from disclosing transactions with group companies, available under FRS 102 (Section 33).


12.


Controlling party

The ultimate parent entity is Unit 2 Curtain Road Ltd.

 

Page 8