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Registered number: 13797009














LEWIS BERKELEY PROPERTY LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

 
LEWIS BERKELEY PROPERTY LIMITED
 
 
COMPANY INFORMATION


Directors
Ray Ormiston (appointed 13 December 2021)
Anthony Austen (appointed 13 December 2021)




Registered number
13797009



Registered office
Elsley Court
20-22 Great Titchfield Street




Accountants
SRLV LLP
Chartered Accountants

Elsley Court

20-22 Great Titchfield Street

London

W1W 8BE





 
LEWIS BERKELEY PROPERTY LIMITED
 

CONTENTS



Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8


 
LEWIS BERKELEY PROPERTY LIMITED
REGISTERED NUMBER:13797009

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
805,076
805,076

  
805,076
805,076

Current assets
  

Debtors: amounts falling due within one year
 5 
3,233
3,203

Cash at bank and in hand
 6 
920
2,958

  
4,153
6,161

Creditors: amounts falling due within one year
 7 
(526,982)
(527,793)

Net current liabilities
  
 
 
(522,829)
 
 
(521,632)

Total assets less current liabilities
  
282,247
283,444

Creditors: amounts falling due after more than one year
 8 
(235,832)
(265,940)

Provisions for liabilities
  

Deferred tax
 10 
(12,275)
(5,701)

  
 
 
(12,275)
 
 
(5,701)

Net assets
  
34,140
11,803


Capital and reserves
  

Called up share capital 
 11 
100
100

Profit and loss account
  
34,040
11,703

  
34,140
11,803


Page 1

 
LEWIS BERKELEY PROPERTY LIMITED
REGISTERED NUMBER:13797009
    
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 on 20 January 2025.




Anthony Austen
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
LEWIS BERKELEY PROPERTY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

The company is a private company limited by shares and is registered in England and Wales. the
company registration number is 13797009.
The principal place of business is 19 Russel Street, Windsor, SL4 1HQ.
The principal activity of the company is to be that of an investment property company.
 

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 company's functional and presentational currency is GBP.

The following principal accounting policies have been applied:

 
2.2

Revenue recognition

Rent receivable is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.3

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.

 
2.4

Borrowing costs

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

Page 3

 
LEWIS BERKELEY PROPERTY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.5

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.


 
2.6

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.

 
2.7

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

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.

 
2.9

 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 4

 
LEWIS BERKELEY PROPERTY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.10

 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.

 
2.11

 Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees




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


4.


Investment property


Freehold investment property

£



Valuation


At 1 May 2023
805,076



At 30 April 2024
805,076

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
805,076
805,076

805,076
805,076

A legal charge over the property of the company was registered on the 26th of January 2022 by Barclays Security Trustee Limited. A second charge was registered on the 19th of April 2022 over 
all the assets of Lewis Berkeley Limited, a company under common control, against a £320,000
loan from Barclays Security Trustee Limited.

Page 5

 
LEWIS BERKELEY PROPERTY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Debtors

2024
2023
£
£


Trade debtors
1,891
2,833

Prepayments and accrued income
1,342
370

3,233
3,203



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
920
2,958

920
2,958



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
26,580
26,400

Trade creditors
-
5,995

Amounts owed to associates
485,798
485,798

Corporation tax
613
-

Accruals and deferred income
13,991
9,600

526,982
527,793



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
235,832
265,940

235,832
265,940


Page 6

 
LEWIS BERKELEY PROPERTY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
26,580
26,400


26,580
26,400


Amounts falling due 2-5 years

Bank loans
106,320
105,600


106,320
105,600

Amounts falling due after more than 5 years

Bank loans
129,512
160,340

129,512
160,340

262,412
292,340



10.


Deferred taxation




2024


£






At beginning of year
(5,701)


Charged to profit or loss
(6,574)



At end of year
(12,275)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(12,275)
(5,701)

(12,275)
(5,701)

Page 7

 
LEWIS BERKELEY PROPERTY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



12.


Related party transactions

During the year the company received rent of £34,570 (2023 - £25,881) from Lewis Berkeley Limited, a company owned by Ray Ormiston and Anthony Austin.
At the year end an amount of £485,798 (2023 - £485,798) was owed to Lewis Berkeley Limited.

Page 8