Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2023-04-03No description of principal activity2falsefalsetrue 14775866 2023-04-02 14775866 2023-04-03 2024-04-30 14775866 2022-05-01 2023-04-02 14775866 2024-04-30 14775866 c:Director1 2023-04-03 2024-04-30 14775866 d:FreeholdInvestmentProperty 2023-04-03 2024-04-30 14775866 d:FreeholdInvestmentProperty 2024-04-30 14775866 d:CurrentFinancialInstruments 2024-04-30 14775866 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 14775866 d:ShareCapital 2024-04-30 14775866 d:RetainedEarningsAccumulatedLosses 2024-04-30 14775866 c:OrdinaryShareClass1 2023-04-03 2024-04-30 14775866 c:OrdinaryShareClass1 2024-04-30 14775866 c:FRS102 2023-04-03 2024-04-30 14775866 c:AuditExempt-NoAccountantsReport 2023-04-03 2024-04-30 14775866 c:FullAccounts 2023-04-03 2024-04-30 14775866 c:PrivateLimitedCompanyLtd 2023-04-03 2024-04-30 14775866 e:PoundSterling 2023-04-03 2024-04-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 14775866









WHAT ELSE PROPERTY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 APRIL 2024

 
WHAT ELSE PROPERTY LIMITED
REGISTERED NUMBER: 14775866

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
Note
£

Fixed assets
  

Investment property
 4 
443,801

  
443,801

Current assets
  

Debtors: amounts falling due within one year
 5 
62,979

  
62,979

Creditors: amounts falling due within one year
 6 
(476,707)

Net current liabilities
  
 
 
(413,728)

Total assets less current liabilities
  
30,073

  

Net assets
  
30,073


Capital and reserves
  

Called up share capital 
 7 
51,086

Profit and loss account
  
(21,013)

  
30,073


Page 1

 
WHAT ELSE PROPERTY LIMITED
REGISTERED NUMBER: 14775866
    
STATEMENT OF FINANCIAL POSITION (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 period 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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 31 January 2025.




T M Millward
Director

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
WHAT ELSE PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

1.


General information

What Else Property Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is Unit 1 Sandridge Park, Porters Wood, St. Albans, Hertfordshire, United Kingdom, AL3 6PH.
 
The company was incorporated on 3 April 2023 and is preparing accounts for the period to 30 April 2024. The company commenced trading on 31 October 2023.
The company specialises in activities of renting properties. 

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 following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements are prepared on a going concern basis, despite the Statement of financial position showing net current liabilities of £413,728 which includes amounts owed to a related company of £474,707. The directors and related company have indicated their willingness to continue providing financial support to the company to ensure that the company has sufficient current assets to meet its liabilities as they fall due for a period of at least one year from the date of approval of the financial statements. As a result, the directors believe that the preparation of the financial statements on a going concern basis is appropriate.

 
2.3

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.

Page 3

 
WHAT ELSE PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.4

Investment property

Investment properties are properties held to earn rent and for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of the investment properties are included in the Statement of comprehensive income in the year in which they arise.

 
2.5

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.

 
2.6

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.


3.


Employees

The average monthly number of employees, including directors, during the period ended 30 April 2024 was 2.



4.


Investment property


Freehold investment property

£



Cost and valuation


Additions at cost
443,801



At 30 April 2024
443,801

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




Page 4

 
WHAT ELSE PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

5.


Debtors

2024
£


Other debtors
51,086

Prepayments and accrued income
11,893

62,979



6.


Creditors: Amounts falling due within one year

2024
£

Other creditors
474,707

Accruals and deferred income
2,000

476,707



7.


Share capital

2024
£
Allotted, called up and fully paid


51,086 Ordinary shares of £1 each
51,086

On incorporation 51,086 Ordinary shares  of £1 each were issued at par.



8.


Related party transactions

Included within other creditors is an amount of £474,707 due to a company with common directors.


9.


Controlling party

The ultimate controlling party is T M Millward by virtue of his majority shareholdings in the company.

 
Page 5