Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-292024-04-29175950001834765632023-05-01falseNo description of principal activity2falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10492644 2023-05-01 2024-04-29 10492644 2022-05-01 2023-04-30 10492644 2024-04-29 10492644 2023-04-30 10492644 2 2023-05-01 2024-04-29 10492644 d:Director2 2023-05-01 2024-04-29 10492644 e:FreeholdInvestmentProperty 2023-05-01 2024-04-29 10492644 e:FreeholdInvestmentProperty 2024-04-29 10492644 e:FreeholdInvestmentProperty 2023-04-30 10492644 e:FreeholdInvestmentProperty 2 2023-05-01 2024-04-29 10492644 e:LeaseholdInvestmentProperty 2023-05-01 2024-04-29 10492644 e:LeaseholdInvestmentProperty 2024-04-29 10492644 e:LeaseholdInvestmentProperty 2023-04-30 10492644 e:LeaseholdInvestmentProperty 2 2023-05-01 2024-04-29 10492644 e:CurrentFinancialInstruments 2024-04-29 10492644 e:CurrentFinancialInstruments 2023-04-30 10492644 e:Non-currentFinancialInstruments 2024-04-29 10492644 e:Non-currentFinancialInstruments 2023-04-30 10492644 e:CurrentFinancialInstruments e:WithinOneYear 2024-04-29 10492644 e:CurrentFinancialInstruments e:WithinOneYear 2023-04-30 10492644 e:Non-currentFinancialInstruments e:AfterOneYear 2024-04-29 10492644 e:Non-currentFinancialInstruments e:AfterOneYear 2023-04-30 10492644 e:ShareCapital 2024-04-29 10492644 e:ShareCapital 2023-04-30 10492644 e:SharePremium 2023-05-01 2024-04-29 10492644 e:SharePremium 2024-04-29 10492644 e:SharePremium 2023-04-30 10492644 e:RevaluationReserve 2023-05-01 2024-04-29 10492644 e:RevaluationReserve 2024-04-29 10492644 e:RevaluationReserve 2023-04-30 10492644 e:RetainedEarningsAccumulatedLosses 2023-05-01 2024-04-29 10492644 e:RetainedEarningsAccumulatedLosses 2024-04-29 10492644 e:RetainedEarningsAccumulatedLosses 2023-04-30 10492644 e:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-04-29 10492644 e:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-04-30 10492644 d:FRS102 2023-05-01 2024-04-29 10492644 d:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-29 10492644 d:FullAccounts 2023-05-01 2024-04-29 10492644 d:PrivateLimitedCompanyLtd 2023-05-01 2024-04-29 10492644 2 2023-05-01 2024-04-29 10492644 5 2023-05-01 2024-04-29 iso4217:GBP xbrli:pure

Registered number: 10492644









CATHARD INVESTMENTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 APRIL 2024

 
CATHARD INVESTMENTS LIMITED
REGISTERED NUMBER: 10492644

BALANCE SHEET
AS AT 29 APRIL 2024

29 April
30 April
2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
8,797,500
9,173,828

  
8,797,500
9,173,828

Current assets
  

Debtors: amounts falling due within one year
 5 
1,333,209
921,146

Cash at bank and in hand
 6 
88,416
270,945

  
1,421,625
1,192,091

Creditors: amounts falling due within one year
 7 
(927,503)
(558,922)

Net current assets
  
 
 
494,122
 
 
633,169

Total assets less current liabilities
  
9,291,622
9,806,997

Creditors: amounts falling due after more than one year
 8 
(3,400,000)
(3,400,000)

Provisions for liabilities
  

Deferred tax
  
(191,623)
-

  
 
 
(191,623)
 
 
-

Net assets
  
5,699,999
6,406,997


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Share premium account
 10 
6,685,817
6,685,817

Revaluation reserve
 10 
574,868
-

Profit and loss account
 10 
(1,561,686)
(279,820)

  
5,699,999
6,406,997


Page 1

 
CATHARD INVESTMENTS LIMITED
REGISTERED NUMBER: 10492644
    
BALANCE SHEET (CONTINUED)
AS AT 29 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 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 21 January 2025.




M A Carroll
Director

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
CATHARD INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 APRIL 2024

1.


General information

Cathard Investments Limited is a private company, limited by shares and incorporated in England and Wales, United Kingdom, with a registration number 10492644. The address of the registered office is Howard House, 66 Hutton Road, Shenfield, Brentwood, Essex, United Kingdom, CM15 8NB. The principal activity of the company is property investment.

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 financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest pound sterling.

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.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
CATHARD INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 APRIL 2024

2.Accounting policies (continued)

  
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 comphrensive income or to an item recognised directly in equity is also recognised in other comphrensive 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

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of assets (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the assets's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purpose of assessing impairment, assets are grouped at the lowest levels for which there are seperately identifable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to access whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.8

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.

Page 4

 
CATHARD INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 APRIL 2024

2.Accounting policies (continued)

 
2.9

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.10

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.11

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.

 
2.12

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.

 
2.13

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.

Page 5

 
CATHARD INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 APRIL 2024

2.Accounting policies (continued)

 
2.14

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.

 
2.15

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

Page 6

 
CATHARD INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 APRIL 2024

2.Accounting policies (continued)

 
2.16

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 with the operating cycle fall into this category of financial instruments.

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.

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.

Derecognition of financial instruments
Page 7

 
CATHARD INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 APRIL 2024

2.Accounting policies (continued)


2.16
Financial instruments (continued)


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.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 2).

Page 8

 
CATHARD INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 APRIL 2024

4.


Investment property





Freehold investment property
Long term leasehold investment property
Total

£
£
£



Valuation


At 1 May 2023
1,478,828
7,695,000
9,173,828


Additions at cost
44,682
-
44,682


Surplus on revaluation
766,490
(1,187,500)
(421,010)



At 29 April 2024
2,290,000
6,507,500
8,797,500

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







Page 9

 
CATHARD INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 APRIL 2024

5.


Debtors

29 April
30 April
2024
2023
£
£


Trade debtors
4,093
1,233

Other debtors
1,323,948
919,073

Prepayments and accrued income
5,168
840

1,333,209
921,146



6.


Cash and cash equivalents

29 April
30 April
2024
2023
£
£

Cash at bank and in hand
88,417
270,945

88,417
270,945



7.


Creditors: Amounts falling due within one year

29 April
30 April
2024
2023
£
£

Trade creditors
4,581
2,259

Other creditors
857,235
479,706

Accruals and deferred income
65,687
76,957

927,503
558,922


Page 10

 
CATHARD INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 APRIL 2024

8.


Creditors: Amounts falling due after more than one year

29 April
30 April
2024
2023
£
£

Bank loans
3,400,000
3,400,000

3,400,000
3,400,000


The tems of the the bank loan were renegotiated in April 2023 and have been reflected in these financial statements.

The following liabilities were secured:

29 April
30 April
2024
2023
£
£



Bank loans
3,400,000
3,400,000

3,400,000
3,400,000

Details of security provided:

The bank loans have a first legal charge against the properties included in the accounts. 


9.


Financial instruments

29 April
30 April
2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
88,417
270,945




Financial assets measured at fair value through profit or loss comprise of cash at bank and in hand

Page 11

 
CATHARD INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 APRIL 2024

10.


Reserves

Share premium account

The share premium account represents the premium arising on the issue of shares net of issue costs.

Revaluation reserve

The revaluation reserve represents cumulative effects of fair value adjustments net of deferred tax and
other adjustments.

Profit and loss account

The profit and loss account represents cumulative profits and losses net of dividends and other
adjustments.


11.


Related party transactions

At the period end the following amount were due from/(to) the related parties:


29 April
30 April
2024
2023
£
£

Entities under common control
713,720
281,244
Key management personnel
133,180
120,000
846,900
401,244


12.


Controlling party

The ultimate controlling party is the Estate of J Carroll.

Page 12