Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30true2023-05-01falseNo description of principal activity33trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10745687 2023-05-01 2024-04-30 10745687 2022-05-01 2023-04-30 10745687 2024-04-30 10745687 2023-04-30 10745687 1 2023-05-01 2024-04-30 10745687 d:Director2 2023-05-01 2024-04-30 10745687 c:FreeholdInvestmentProperty 2023-05-01 2024-04-30 10745687 c:FreeholdInvestmentProperty 2024-04-30 10745687 c:FreeholdInvestmentProperty 2023-04-30 10745687 c:FreeholdInvestmentProperty 2 2023-05-01 2024-04-30 10745687 c:CurrentFinancialInstruments 2024-04-30 10745687 c:CurrentFinancialInstruments 2023-04-30 10745687 c:Non-currentFinancialInstruments 2024-04-30 10745687 c:Non-currentFinancialInstruments 2023-04-30 10745687 c:CurrentFinancialInstruments c:WithinOneYear 2024-04-30 10745687 c:CurrentFinancialInstruments c:WithinOneYear 2023-04-30 10745687 c:Non-currentFinancialInstruments c:AfterOneYear 2024-04-30 10745687 c:Non-currentFinancialInstruments c:AfterOneYear 2023-04-30 10745687 c:Non-currentFinancialInstruments c:MoreThanFiveYears 2024-04-30 10745687 c:Non-currentFinancialInstruments c:MoreThanFiveYears 2023-04-30 10745687 c:ShareCapital 2024-04-30 10745687 c:ShareCapital 2023-04-30 10745687 c:RetainedEarningsAccumulatedLosses 2024-04-30 10745687 c:RetainedEarningsAccumulatedLosses 2023-04-30 10745687 d:OrdinaryShareClass1 2023-05-01 2024-04-30 10745687 d:OrdinaryShareClass1 2024-04-30 10745687 d:OrdinaryShareClass1 2023-04-30 10745687 d:FRS102 2023-05-01 2024-04-30 10745687 d:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 10745687 d:FullAccounts 2023-05-01 2024-04-30 10745687 d:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 10745687 2 2023-05-01 2024-04-30 10745687 c:TaxLossesCarry-forwardsDeferredTax 2024-04-30 10745687 c:TaxLossesCarry-forwardsDeferredTax 2023-04-30 10745687 c:OtherDeferredTax 2024-04-30 10745687 c:OtherDeferredTax 2023-04-30 10745687 f:PoundSterling 2023-05-01 2024-04-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10745687









PARCAP (HOLDINGS) LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
PARCAP (HOLDINGS) LTD
REGISTERED NUMBER: 10745687

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
9,176,000
676,000

  
9,176,000
676,000

Current assets
  

Debtors: amounts falling due within one year
 5 
568,674
625

Cash at bank and in hand
  
255,115
61,932

  
823,789
62,557

Creditors: amounts falling due within one year
 6 
(3,372,141)
(239,721)

Net current liabilities
  
 
 
(2,548,352)
 
 
(177,164)

Total assets less current liabilities
  
6,627,648
498,836

Creditors: amounts falling due after more than one year
 7 
(397,071)
(396,927)

Provisions for liabilities
  

Deferred tax
  
(1,560,007)
(19,382)

  
 
 
(1,560,007)
 
 
(19,382)

Net assets
  
4,670,570
82,527


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
  
4,670,470
82,427

  
4,670,570
82,527


Page 1

 
PARCAP (HOLDINGS) LTD
REGISTERED NUMBER: 10745687
    
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 statement of income and retained earnings 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.




S S Parwana
Director

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

Page 2

 
PARCAP (HOLDINGS) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

The Company is a private company, limited by shares, incorporated and domiciled in England within the United Kingdom, registration number 10745687.  The Company's registered office is Hagley House, 95 Hagley Road, Birmingham, B16 8LA.
The financial statements are presented in sterling which is the functional currency of the company and the financial statements are rounded to the nearest £1.

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 accounts are prepared on a going concern basis.

 
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:

Rental income
Revenue from land and property is recognised when all the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive consideration due for the period the property is let;
- the period of rental can be measured reliably; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Interest income

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

 
2.5

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.

 
2.6

Borrowing costs

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

Page 3

 
PARCAP (HOLDINGS) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

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 4

 
PARCAP (HOLDINGS) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.12

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.


3.


Employees

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


4.


Investment property


Freehold investment property

£



Valuation


At 1 May 2023
676,000


Additions at cost
2,354,744


Surplus on revaluation
6,145,256



At 30 April 2024
9,176,000


Comprising


Cost
2,870,164

Annual revaluation surplus/(deficit):


2023
160,580

2024
6,145,256

At 30 April 2024
9,176,000

The 2024 valuations were made by the directors, based on a report by Innes England Limited , on an open market value for existing use basis.

During the year deferred tax of £1,545,949 (2023 - £30,510) has been calculated on the revaluation of investment property in the year, which also incorporates an increase to the deferred tax rate applied.  As at the balance sheet total deferred tax of £1,576,460 (2023 - £30,510) is recognised in respect of investment property revaluations.






Page 5

 
PARCAP (HOLDINGS) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Debtors

2024
2023
£
£


Trade debtors
383,828
-

Other debtors
153,047
-

Prepayments and accrued income
31,799
625

568,674
625



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
2,404,014
-

Trade creditors
14,565
-

Other taxation and social security
226,826
-

Other creditors
563,590
233,775

Accruals and deferred income
163,146
5,946

3,372,141
239,721


Page 6

 
PARCAP (HOLDINGS) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
397,071
396,927

397,071
396,927


The following liabilities were secured:

2024
2023
£
£



Bank loans
-
396,927

-
396,927

Details of security provided:

Bank loans of £397,071 (2023 - £396,927) which are held within creditors falling due after more than one year are secured by fixed charges, held by West One Secured Loans Limited, over the leasehold properties known as: Apartment 12, 22, 31 and 62 Medusa House, St Johns Road, Stourbridge, DY8 1YS.
Bank loans of £2,404,014 (2023 - £Nil) which are held within creditors falling due within one year are secured by fixed charges, held by Together Commercial Finance Limited, over the freehold properties known as Waterfront Dudley, Brierly Hill, DY5 3ZU.

The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:

2024
2023
£
£


Repayable other than by instalments
-
396,927

-
396,927

Loans were taken out on 24 March 2023 as interest only loans for a 20 year period on a variable interest rate.

Page 7

 
PARCAP (HOLDINGS) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
2,404,014
-


2,404,014
-



Amounts falling due after more than 5 years

Bank loans
397,071
396,927

397,071
396,927

2,801,085
396,927



9.


Deferred taxation




2024


£






At beginning of year
(19,382)


Charged to profit or loss
(1,540,625)



At end of year
(1,560,007)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Tax losses carried forward
16,453
11,128

Revaluation of investment property
(1,576,460)
(30,510)

(1,560,007)
(19,382)

Page 8

 
PARCAP (HOLDINGS) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



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



11.


Related party transactions

During the year the company received a loan from the directors.  As at 30 April 2024 amounts of £474,692 (2023 - £227,075) was due to the directors.  
During the year the company received loans from companies under common control of the directors.  As at 30 April 2024 amounts of £1,620 (2023 - £6,700) were due to companies of this nature.
All loans are interest free and repayable on demand.


12.


Post balance sheet events

In December 2023 the company purchased further commercial investment property and obtained financing secured against this property.

 
Page 9