Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-302023-07-01false11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07673529 2023-07-01 2024-06-30 07673529 2022-07-01 2023-06-30 07673529 2024-06-30 07673529 2023-06-30 07673529 c:Director1 2023-07-01 2024-06-30 07673529 d:MotorVehicles 2023-07-01 2024-06-30 07673529 d:MotorVehicles 2024-06-30 07673529 d:MotorVehicles 2023-06-30 07673529 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 07673529 d:ComputerEquipment 2023-07-01 2024-06-30 07673529 d:ComputerEquipment 2024-06-30 07673529 d:ComputerEquipment 2023-06-30 07673529 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 07673529 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 07673529 d:CurrentFinancialInstruments 2024-06-30 07673529 d:CurrentFinancialInstruments 2023-06-30 07673529 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 07673529 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 07673529 d:ShareCapital 2024-06-30 07673529 d:ShareCapital 2023-06-30 07673529 d:RetainedEarningsAccumulatedLosses 2024-06-30 07673529 d:RetainedEarningsAccumulatedLosses 2023-06-30 07673529 c:FRS102 2023-07-01 2024-06-30 07673529 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 07673529 c:FullAccounts 2023-07-01 2024-06-30 07673529 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 07673529 2 2023-07-01 2024-06-30 07673529 6 2023-07-01 2024-06-30 07673529 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 07673529










LANCASHIRE COURT CAPITAL LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
LANCASHIRE COURT CAPITAL LIMITED
REGISTERED NUMBER: 07673529

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
20,236
36,304

Investments
 5 
984,623
1,113,571

  
1,004,859
1,149,875

Current assets
  

Debtors: amounts falling due within one year
 6 
47,909
77,914

Current asset investments
 7 
567,011
253,460

Cash at bank and in hand
  
31,499
100,542

  
646,419
431,916

Creditors: amounts falling due within one year
 8 
(21,728)
(20,012)

Net current assets
  
 
 
624,691
 
 
411,904

Total assets less current liabilities
  
1,629,550
1,561,779

  

Net assets
  
1,629,550
1,561,779


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
1,629,549
1,561,778

  
1,629,550
1,561,779


Page 1

 
LANCASHIRE COURT CAPITAL LIMITED
REGISTERED NUMBER: 07673529
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

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: 




Mr A W Herd
Director
Date: 24 January 2025

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

Page 2

 
LANCASHIRE COURT CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Lancashire Court Capital Limited is a private limited company limited by share capital, incorporated in the United Kingdom and registered in England and Wales. The address of the registered office is 33 Cavendish Square, London, W1G 0PW. 

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

The company has positive reserves and the Director believes that the company will continue to operate for the next 12 months. 

 
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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
LANCASHIRE COURT CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.4

Turnover

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.

 
2.5

Interest income

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

 
2.6

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 balance sheet date in the countries where the Company operates and generates income.

 
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.

Page 4

 
LANCASHIRE COURT CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

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:

Motor vehicles
-
5 years leaving a residual value of £10,000
Computer equipment
-
2 years

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.

 
2.8

Valuation of investments

Investments in associates are carried the balance sheet at cost as adjusted for post-acquisition changes in the Company’s share of the net assets of the associate, less any impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet 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 balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.9

Debtors

Short-term debtors are measured at transaction price, 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.

Page 5

 
LANCASHIRE COURT CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due within the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
 
Page 6

 
LANCASHIRE COURT CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.12
Financial instruments (continued)


Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Page 7

 
LANCASHIRE COURT CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Tangible fixed assets





Motor vehicles
Computer equipment
Total

£
£
£



Cost 


At 1 July 2023
57,240
5,352
62,592



At 30 June 2024

57,240
5,352
62,592



Depreciation


At 1 July 2023
21,269
5,019
26,288


Charge for the year on owned assets
15,735
333
16,068



At 30 June 2024

37,004
5,352
42,356



Net book value



At 30 June 2024
20,236
-
20,236



At 30 June 2023
35,971
333
36,304


5.


Fixed asset investments





Investments in associates
Loans to associates
Total

£
£
£



Cost


At 1 July 2023
1
1,113,570
1,113,571


Additions
-
3,144
3,144


Disposals
-
(164,253)
(164,253)


Revaluations
-
32,161
32,161



At 30 June 2024
1
984,622
984,623




Page 8

 
LANCASHIRE COURT CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Debtors

2024
2023
£
£


Other debtors
47,909
77,914



7.


Current asset investments

2024
2023
£
£

Listed investments
567,011
253,460



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other taxation and social security
2,784
2,368

Other creditors
2,252
952

Accruals and deferred income
16,692
16,692

21,728
20,012



9.


Related party transactions

During the year, the company was charged a consultancy fee of £12,500 (2023: £12,500) from the director.
At the year end, £2,252 was owed to the director (2023: £952). This loan is interest free and repayable on demand.

 
Page 9