Caseware UK (AP4) 2023.0.135 2023.0.135 2023-02-01false22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 13137923 2023-02-01 2023-12-31 13137923 2023-12-31 13137923 2022-02-01 2023-01-31 13137923 2023-01-31 13137923 c:Director1 2023-02-01 2023-12-31 13137923 c:Director2 2023-02-01 2023-12-31 13137923 d:FurnitureFittings 2023-02-01 2023-12-31 13137923 d:FurnitureFittings 2023-12-31 13137923 d:FurnitureFittings 2023-01-31 13137923 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2023-12-31 13137923 d:FreeholdInvestmentProperty 2023-12-31 13137923 d:FreeholdInvestmentProperty 2023-01-31 13137923 d:CurrentFinancialInstruments 2023-12-31 13137923 d:CurrentFinancialInstruments 2023-01-31 13137923 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 13137923 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 13137923 d:ShareCapital 2023-12-31 13137923 d:ShareCapital 2023-01-31 13137923 d:SharePremium 2023-12-31 13137923 d:SharePremium 2023-01-31 13137923 d:OtherMiscellaneousReserve 2023-12-31 13137923 d:OtherMiscellaneousReserve 2023-01-31 13137923 d:RetainedEarningsAccumulatedLosses 2023-12-31 13137923 d:RetainedEarningsAccumulatedLosses 2023-01-31 13137923 c:FRS102 2023-02-01 2023-12-31 13137923 c:AuditExempt-NoAccountantsReport 2023-02-01 2023-12-31 13137923 c:FullAccounts 2023-02-01 2023-12-31 13137923 c:PrivateLimitedCompanyLtd 2023-02-01 2023-12-31 13137923 e:PoundSterling 2023-02-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: 13137923













Adavo (Town Hall) Limited

Financial statements
Information for filing with the registrar

31 December 2023




 
Adavo (Town Hall) Limited


Balance sheet
At 31 December 2023

31 December
31 January
2023
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
38,690
42,594

Investment property
 5 
3,355,000
3,355,000

  
3,393,690
3,397,594

Current assets
  

Debtors
 6 
7,031
164,262

Cash at bank and in hand
  
116
122

  
7,147
164,384

Creditors: amounts falling due within one year
 7 
(491,549)
(774,420)

Net current liabilities
  
 
 
(484,402)
 
 
(610,036)

Total assets less current liabilities
  
2,909,288
2,787,558

Provisions for liabilities
  

Deferred tax
  
(18,442)
(11,832)

  
 
 
(18,442)
 
 
(11,832)

Net assets
  
2,890,846
2,775,726


Capital and reserves
  

Called up share capital 
  
4
4

Share premium account
  
2,471,810
2,471,810

Other reserves
  
35,115
35,115

Profit and loss account
  
383,917
268,797

Shareholder's funds
  
2,890,846
2,775,726


1

 
Adavo (Town Hall) Limited

    
Balance sheet (continued)
At 31 December 2023

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 period 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 11 December 2024.




MH Black
KA Black
Director
Director

Company registered number: 13137923
The notes on pages 3 to 7 form part of these financial statements. 
2

 
Adavo (Town Hall) Limited
 
 

Notes to the financial statements
Period ended 31 December 2023

1.


General information

The company is a private company limited by shares, registered and domiciled in England and Wales. The address of the registered office is Town Hall, High Street East, Wallsend, Tyne and Wear, NE28 7AT.

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.

 
2.2

Revenue

Turnover is measured at the fair value of the consideration received or receivable and represents rent receivable, stated net of Value Added Tax.

  
2.3

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section  398 of the Companies Act 2006 on the basis that the company and other group companies comprise a small group. 

 
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.

3

 
Adavo (Town Hall) Limited
 

 
Notes to the financial statements
Period ended 31 December 2023

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the period 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.


 
2.7

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
10%
reducing balance

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.

4

 
Adavo (Town Hall) Limited
 

 
Notes to the financial statements
Period ended 31 December 2023

2.Accounting policies (continued)

 
2.8

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit and loss.

 
2.9

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.


3.


Employees

The average monthly number of employees, including directors, during the period was 2 (2023 : 2).







4.


Tangible fixed assets







Fixtures and fittings

£



Cost


At 1 February 2023
52,410



At 31 December 2023

52,410



Depreciation


At 1 February 2023
9,816


Charge for the period
3,904



At 31 December 2023

13,720



Net book value



At 31 December 2023
38,690



At 31 January 2023
42,594

5

 
Adavo (Town Hall) Limited
 
 

Notes to the financial statements
Period ended 31 December 2023

5.


Investment property





Freehold investment property

£



Valuation


At 1 February 2023
3,355,000



At 31 December 2023
3,355,000

The 31 December 2023 valuations were made by the directors, on an open market value for existing use basis.


31 December
31 January
2023
2023
£
£


Historic cost
3,319,885
3,319,885

3,319,885
3,319,885

6

 
Adavo (Town Hall) Limited
 
 

Notes to the financial statements
Period ended 31 December 2023

6.


Debtors

31 December
31 January
2023
2023
£
£


Prepayments and accrued income
7,031
164,262

7,031
164,262



7.


Creditors: amounts falling due within one year

31 December
31 January
2023
2023
£
£

Bank overdrafts
14
-

Amounts owed to group undertakings
461,160
746,795

Amounts owed to other related parties
330
330

Other taxation and social security
16,156
16,156

Accruals and deferred income
13,889
11,139

491,549
774,420



8.


Related party transactions

The parent company is Adavo Ltd, a company registered and domiciled in England and Wales. The address of the registered office is The Town Hall, High Street East, Wallsend, North Tyneside NE28 7AT.
During the year, the company used a loan account to record amounts due to and from Adavo Ltd, its parent company. At the period end, the balance owed by the company to Adavo Ltd was £461,160 (31 January 2023 : £746,795) The loan is unsecured, interest free and no fixed terms of repayment have been agreed.
During the year the company used a loan account to record amounts due to and from Adavo Property LLP, which the directors are members of. At the period end, the balance owed by the company to Adavo Property LLP was £330 (31 January 2023 : £330).

 
7