Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseNo description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03592285 2023-01-01 2023-12-31 03592285 2022-01-01 2022-12-31 03592285 2023-12-31 03592285 2022-12-31 03592285 c:Director1 2023-01-01 2023-12-31 03592285 d:PlantMachinery 2023-01-01 2023-12-31 03592285 d:PlantMachinery 2023-12-31 03592285 d:PlantMachinery 2022-12-31 03592285 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03592285 d:FurnitureFittings 2023-01-01 2023-12-31 03592285 d:FurnitureFittings 2023-12-31 03592285 d:FurnitureFittings 2022-12-31 03592285 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03592285 d:OfficeEquipment 2023-01-01 2023-12-31 03592285 d:OfficeEquipment 2023-12-31 03592285 d:OfficeEquipment 2022-12-31 03592285 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03592285 d:ComputerEquipment 2023-01-01 2023-12-31 03592285 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03592285 d:CurrentFinancialInstruments 2023-12-31 03592285 d:CurrentFinancialInstruments 2022-12-31 03592285 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 03592285 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 03592285 d:ShareCapital 2023-12-31 03592285 d:ShareCapital 2022-12-31 03592285 d:RetainedEarningsAccumulatedLosses 2023-12-31 03592285 d:RetainedEarningsAccumulatedLosses 2022-12-31 03592285 c:OrdinaryShareClass1 2023-01-01 2023-12-31 03592285 c:OrdinaryShareClass1 2023-12-31 03592285 c:OrdinaryShareClass1 2022-12-31 03592285 c:FRS102 2023-01-01 2023-12-31 03592285 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 03592285 c:FullAccounts 2023-01-01 2023-12-31 03592285 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 03592285









FIRST PROPERTY SECURITIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
FIRST PROPERTY SECURITIES LIMITED
REGISTERED NUMBER: 03592285

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,089
2,925

  
2,089
2,925

Current assets
  

Debtors: amounts falling due within one year
 5 
29,030
28,551

Cash at bank and in hand
  
15
20,320

  
29,045
48,871

Creditors: amounts falling due within one year
 6 
(557,545)
(571,777)

Net current liabilities
  
 
 
(528,500)
 
 
(522,906)

Total assets less current liabilities
  
(526,411)
(519,981)

  

Net liabilities
  
(526,411)
(519,981)


Capital and reserves
  

Called up share capital 
 7 
1,000
1,000

Profit and loss account
  
(527,411)
(520,981)

  
(526,411)
(519,981)


Page 1

 
FIRST PROPERTY SECURITIES LIMITED
REGISTERED NUMBER: 03592285
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 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 by: 




D R Lister
Director

Date: 28 November 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
FIRST PROPERTY SECURITIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

First Property Securities Limited is a private company, limited by shares and registered in England and Wales.  The company's registered office address is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

In assessing the ability of the company to operate as a going concern, management have evaluated current and forecasted operational results, and the solvency of the company. The director has obtained assurances from the shareholders to continue to provide adequate funds to meet its obligations, and not to demand repayment of any funds due to them, until the company is in a financial position to do so. As a result, the director considers it appropriate to prepare the financial statements on a going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 3

 
FIRST PROPERTY SECURITIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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.

 
2.5

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.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
Straight line
Fixtures and fittings
-
20%
Straight line
Office equipment
-
20%
Straight line
Computer equipment
-
20%
Straight line

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

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.

Page 4

 
FIRST PROPERTY SECURITIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

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.

 
2.8

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.


3.


Employees

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


4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2023
25,625
67,014
2,945
95,584



At 31 December 2023

25,625
67,014
2,945
95,584



Depreciation


At 1 January 2023
24,762
67,014
883
92,659


Charge for the year on owned assets
247
-
589
836



At 31 December 2023

25,009
67,014
1,472
93,495



Net book value



At 31 December 2023
616
-
1,473
2,089



At 31 December 2022
863
1
2,061
2,925

Page 5

 
FIRST PROPERTY SECURITIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Other debtors
29,030
28,551

29,030
28,551



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to related undertakings
456,357
470,590

Other creditors
25,000
25,000

Accruals and deferred income
76,188
76,187

557,545
571,777



7.


Share capital

2023
2022
£
£
Authorised, allotted, called up and fully paid



1,000 (2022 - 1,000) Ordinary shares of £1 each
1,000
1,000


 
Page 6