Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-302023-05-01falseNo description of principal activity00truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00578274 2023-05-01 2024-04-30 00578274 2022-05-01 2023-04-30 00578274 2024-04-30 00578274 2023-04-30 00578274 c:Director1 2023-05-01 2024-04-30 00578274 d:FreeholdInvestmentProperty 2024-04-30 00578274 d:FreeholdInvestmentProperty 2023-04-30 00578274 d:CurrentFinancialInstruments 2024-04-30 00578274 d:CurrentFinancialInstruments 2023-04-30 00578274 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 00578274 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 00578274 d:ShareCapital 2024-04-30 00578274 d:ShareCapital 2023-04-30 00578274 d:OtherMiscellaneousReserve 2024-04-30 00578274 d:OtherMiscellaneousReserve 2023-04-30 00578274 d:RetainedEarningsAccumulatedLosses 2024-04-30 00578274 d:RetainedEarningsAccumulatedLosses 2023-04-30 00578274 c:OrdinaryShareClass1 2023-05-01 2024-04-30 00578274 c:OrdinaryShareClass1 2024-04-30 00578274 c:OrdinaryShareClass1 2023-04-30 00578274 c:FRS102 2023-05-01 2024-04-30 00578274 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 00578274 c:FullAccounts 2023-05-01 2024-04-30 00578274 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 00578274 e:PoundSterling 2023-05-01 2024-04-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 00578274










WILLIAM CORBETT (CORN MERCHANTS) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

 
WILLIAM CORBETT (CORN MERCHANTS) LIMITED
REGISTERED NUMBER: 00578274

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 3 
750,000
750,000

  
750,000
750,000

Current assets
  

Debtors: amounts falling due within one year
 4 
136,078
136,078

Cash at bank and in hand
 5 
652
652

  
136,730
136,730

Creditors: amounts falling due within one year
 6 
(18,396)
(17,341)

Net current assets
  
 
 
118,334
 
 
119,389

Total assets less current liabilities
  
868,334
869,389

Provisions for liabilities
  

Deferred tax
  
(186,649)
(186,649)

  
 
 
(186,649)
 
 
(186,649)

Net assets
  
681,685
682,740


Capital and reserves
  

Called up share capital 
 7 
20,000
20,000

Other reserves
  
2,008
2,008

Profit and loss account
  
659,677
660,732

  
681,685
682,740


Page 1

 
WILLIAM CORBETT (CORN MERCHANTS) LIMITED
REGISTERED NUMBER: 00578274
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 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 profit and loss account 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: 




B Corbett
Director

Date: 17 January 2025

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

Page 2

 
WILLIAM CORBETT (CORN MERCHANTS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

William Corbett (Corn Merchants) Limited, 00578274, is a private limited company, limited by shares, incorporated in England and Wales with its registered office and principal place of business at Greenfields, Chester Road, Malpas, Cheshire, SY14 8HT.

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.

The following principal accounting policies have been applied:

 
2.2

Current and deferred taxation

The tax expense for the year 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.


 
2.3

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.

Page 3

 
WILLIAM CORBETT (CORN MERCHANTS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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.

 
2.6

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.

 
2.7

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 4

 
WILLIAM CORBETT (CORN MERCHANTS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

3.


Investment property


Freehold investment property

£



Valuation


At 1 May 2023
750,000



At 30 April 2024
750,000

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:

2024
2023
£
£


Historic cost
1,000
1,000

1,000
1,000


4.


Debtors

2024
2023
£
£


Trade debtors
1,000
1,000

Prepayments and accrued income
135,078
135,078

136,078
136,078



5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
652
652

652
652


Page 5

 
WILLIAM CORBETT (CORN MERCHANTS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
972
858

Other creditors
16,416
15,558

Accruals and deferred income
1,008
925

18,396
17,341



7.


Share capital

2024
2023
£
£
Authorised, allotted, called up and fully paid



20,000 (2023 - 20,000) Ordinary shares of £1.00 each
20,000
20,000


Page 6