Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29false2023-03-01falseNo description of principal activity33trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 13821841 2023-03-01 2024-02-29 13821841 2021-12-30 2023-02-28 13821841 2024-02-29 13821841 2023-02-28 13821841 c:Director2 2023-03-01 2024-02-29 13821841 d:PlantMachinery 2023-03-01 2024-02-29 13821841 d:PlantMachinery 2024-02-29 13821841 d:PlantMachinery 2023-02-28 13821841 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 13821841 d:FreeholdInvestmentProperty 2024-02-29 13821841 d:FreeholdInvestmentProperty 2023-02-28 13821841 d:CurrentFinancialInstruments 2024-02-29 13821841 d:CurrentFinancialInstruments 2023-02-28 13821841 d:Non-currentFinancialInstruments 2024-02-29 13821841 d:Non-currentFinancialInstruments 2023-02-28 13821841 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 13821841 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 13821841 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 13821841 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 13821841 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-02-29 13821841 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-02-28 13821841 d:ShareCapital 2024-02-29 13821841 d:ShareCapital 2023-02-28 13821841 d:RetainedEarningsAccumulatedLosses 2024-02-29 13821841 d:RetainedEarningsAccumulatedLosses 2023-02-28 13821841 c:OrdinaryShareClass1 2023-03-01 2024-02-29 13821841 c:OrdinaryShareClass1 2024-02-29 13821841 c:OrdinaryShareClass1 2023-02-28 13821841 c:FRS102 2023-03-01 2024-02-29 13821841 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 13821841 c:FullAccounts 2023-03-01 2024-02-29 13821841 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13821841 2 2023-03-01 2024-02-29 13821841 6 2023-03-01 2024-02-29 13821841 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 13821841









CLEVELAND124 LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 29 FEBRUARY 2024

 
CLEVELAND124 LIMITED
REGISTERED NUMBER: 13821841

STATEMENT OF FINANCIAL POSITION
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
126,063
168,083

Investments
 5 
62,523
66,381

Investment property
 6 
2,093,510
2,093,510

  
2,282,096
2,327,974

Current assets
  

Debtors: amounts falling due within one year
 7 
2,053
1

Cash at bank and in hand
  
3,192
-

  
5,245
1

Creditors: amounts falling due within one year
 9 
(970,940)
(1,029,975)

Net current liabilities
  
 
 
(965,695)
 
 
(1,029,974)

Total assets less current liabilities
  
1,316,401
1,298,000

Creditors: amounts falling due after more than one year
 10 
(1,250,000)
(1,250,000)

  

Net assets
  
66,401
48,000


Capital and reserves
  

Called up share capital 
 12 
1
1

Profit and loss account
  
66,400
47,999

  
66,401
48,000


Page 1

 
CLEVELAND124 LIMITED
REGISTERED NUMBER: 13821841
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 29 FEBRUARY 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 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 by: 




L Eisenberg
Director

Date: 6 January 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
CLEVELAND124 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 FEBRUARY 2024

1.


General information

Cleveland124 Limited is a private company limited by share and incorporated in England and Wales (registered number 13821841). The registered office address is 101 New Cavendish Street, 1st Floor South, London, United Kingdom, 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 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

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 directors have 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 directors consider it appropriate to prepare the financial statements on a going concern basis.

 
2.3

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:

Rendering of services

Revenue 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 revenue 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.

 
2.4

Interest income

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

Page 3

 
CLEVELAND124 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.5

Taxation

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 reporting date in the countries where the Company operates and generates income.


 
2.6

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:

Plant and machinery
-
25%

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.

 
2.7

Investment property

Investment property is carried at fair value determined annually by 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 profit or loss.

 
2.8

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 reporting 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 reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Page 4

 
CLEVELAND124 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.9

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.

 
2.10

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.

 
2.11

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 period was 3 (2023 - 3).

Page 5

 
CLEVELAND124 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 FEBRUARY 2024

4.


Tangible fixed assets







Plant and machinery

£



Cost or valuation


At 1 March 2023
168,083



At 29 February 2024

168,083



Depreciation


Charge for the period on owned assets
42,020



At 29 February 2024

42,020



Net book value



At 29 February 2024
126,063


5.


Fixed asset investments








Listed investments

£



Cost or valuation


At 1 March 2023
66,381


Revaluations
(3,858)



At 29 February 2024
62,523




Page 6

 
CLEVELAND124 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 FEBRUARY 2024

6.


Investment property





Freehold investment property

£



Valuation


At 1 March 2023
2,093,510



At 29 February 2024
2,093,510

The 2024 valuations were made by the directors, on an open market value for existing use basis.





If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

29 February
28 February
2024
2023
£
£


Historic cost
2,093,510
2,093,510

2,093,510
2,093,510


7.


Debtors

29 February
28 February
2024
2023
£
£


Other debtors
2,053
1

2,053
1



8.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
3,192
-

3,192
-


Page 7

 
CLEVELAND124 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 FEBRUARY 2024

9.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Amounts owed to group undertakings
953,147
1,010,130

Corporation tax
-
2,052

Other creditors
15,793
15,793

Accruals and deferred income
2,000
2,000

970,940
1,029,975



10.


Creditors: Amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Bank loans
1,250,000
1,250,000

1,250,000
1,250,000



11.


Loans


Analysis of the maturity of loans is given below:


29 February
28 February
2024
2023
£
£


Amounts falling due 1-2 years

Bank loans
1,250,000
1,250,000


1,250,000
1,250,000



1,250,000
1,250,000


Page 8

 
CLEVELAND124 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 FEBRUARY 2024

12.


Share capital

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



1 (2023 - 1) Orddinary share share of £1.00
1
1


 
Page 9