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Registered number: 06054071









Earl (Oxford) Limited







Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 30 September 2024

 
Earl (Oxford) Limited
Registered number: 06054071

Statement of financial position
As at 30 September 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
1
1,144,894

  
1
1,144,894

Creditors: amounts falling due within one year
 6 
-
(191,758)

Net current assets
  
 
 
1
 
 
953,136

Total assets less current liabilities
  
1
953,136

  

Net assets
  
1
953,136


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
-
953,135

  
1
953,136

Page 1

 
Earl (Oxford) Limited
Registered number: 06054071
    
Statement of financial position (continued)
As at 30 September 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 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 on 9 January 2025.




Martin Thomas Harrison
Director

The notes on pages 4 to 6 form part of these financial statements.
Page 2

 
Earl (Oxford) Limited
 

Statement of changes in equity
For the Year Ended 30 September 2024


Called up share capital
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£


At 1 October 2022
1
1,402,104
297,265
1,699,370


Comprehensive income for the year

Profit for the year
-
-
253,766
253,766

Moved to retained earning on disposal of property
-
(1,402,104)
1,402,104
-


Contributions by and distributions to owners

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


Total transactions with owners
-
-
(1,000,000)
(1,000,000)



At 1 October 2023
1
-
953,135
953,136


Comprehensive income for the year

Loss for the year

-
-
(1,095)
(1,095)


Other comprehensive income for the year
-
-
-
-


Total comprehensive income for the year
-
-
(1,095)
(1,095)


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(952,040)
(952,040)


Total transactions with owners
-
-
(952,040)
(952,040)


At 30 September 2024
1
-
-
1


The notes on pages 4 to 6 form part of these financial statements.

Page 3

 
Earl (Oxford) Limited
 
 
 
Notes to the financial statements
For the Year Ended 30 September 2024

1.


General information

Earl (Oxford) Limited is a company, limited by shares, registered in England & Wales. The company's registered number and registered office can be found on the company information page.
The presentation currency of the financial statements is the Pound Sterling, rounded to the nearest pound.

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 (see note 3).

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:

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.

 
2.3

Interest income

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

 
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.

Page 4

 
Earl (Oxford) Limited
 
 
 
Notes to the financial statements
For the Year Ended 30 September 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

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.7

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.

 
2.8

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.

 
2.9

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.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In preparing the financial statements, management are required to make estimates and judgments which may materially affect reported income, expenses, assets, liabilities or disclosure of contingent assets and liabilities, and the valuation of investment properties, which were based on open market transactions. The estimates and assumptions are reviewed on an on-going basis and are based on historical experience and other factors that are considered to be relevant. Revision to accounting estimates are recognised in the period in which the estimate is revised.


4.


Employees




The average monthly number of employees, including directors, during the year was 0 (2023 - 0).

Page 5

 
Earl (Oxford) Limited
 
 
 
Notes to the financial statements
For the Year Ended 30 September 2024

5.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
1
1,143,584

Other debtors
-
1,310

1
1,144,894



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
-
189,758

Accruals and deferred income
-
2,000

-
191,758



7.


Contingent liabilities

The company and other members of the Earl Estates Limited Group have entered into cross- guarantees relating to certain bank borrowings.
The relevant borrowings guaranteed by the company for other members of the group and outstanding at the balance sheet date were £1,400,000 (2023: £1,400,000). 


8.


Related party transactions

In accordance with FRS102 Section 1A, the Company has taken advantage of the exemption not to disclose details of any transactions or balances between the group that have been eliminated on consolidation. Parent Company prepares group accounts and copy of the group accounts can be obtained by writing to the company secretary at Suite 207, Equitable House, 7 General Gordon Square, London SE18 6FH.  


9.


Controlling party

The ultimate parent company is Earl Estates Limited which is incorporated in the United Kingdom and registered in England and Wales.
The Company is controlled by the board of directors.
 
Page 6