Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-311true1falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-04-01truefalse 13513699 2023-04-01 2024-03-31 13513699 2022-04-01 2023-03-31 13513699 2024-03-31 13513699 2023-03-31 13513699 c:Director1 2023-04-01 2024-03-31 13513699 d:Buildings 2024-03-31 13513699 d:Buildings 2023-03-31 13513699 d:CurrentFinancialInstruments 2024-03-31 13513699 d:CurrentFinancialInstruments 2023-03-31 13513699 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 13513699 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 13513699 d:ShareCapital 2024-03-31 13513699 d:ShareCapital 2023-03-31 13513699 d:RevaluationReserve 2024-03-31 13513699 d:RevaluationReserve 2023-03-31 13513699 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 13513699 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 13513699 c:FRS102 2023-04-01 2024-03-31 13513699 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 13513699 c:FullAccounts 2023-04-01 2024-03-31 13513699 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13513699 5 2023-04-01 2024-03-31 13513699 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 13513699










MERCIA REAL ESTATE (FH) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
MERCIA REAL ESTATE (FH) LIMITED
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Notes to the Financial Statements
 
3 - 7


 
MERCIA REAL ESTATE (FH) LIMITED
REGISTERED NUMBER: 13513699

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
500,000
500,000

Current assets
  

Cash at bank and in hand
  
100
100

Creditors: amounts falling due within one year
 5 
(121)
(121)

Net current liabilities
  
 
 
(21)
 
 
(21)

Total assets less current liabilities
  
499,979
499,979

Provisions for liabilities
  

Deferred tax
 6 
(124,970)
(124,970)

  
 
 
(124,970)
 
 
(124,970)

Net assets
  
375,009
375,009


Capital and reserves
  

Called up share capital 
  
100
100

Revaluation reserve
  
374,909
374,909

  
375,009
375,009


Page 1

 
MERCIA REAL ESTATE (FH) LIMITED
REGISTERED NUMBER: 13513699
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 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 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 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 31 January 2025.


S T Clark
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
MERCIA REAL ESTATE (FH) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Mercia Real Estate (FH) Limited is a private limited company limited by shares, incorporated and domiciled in England.  The address of the registered office is Maddox House, 117 Edmund Street, Birmingham, West Midlands B3 2HJ.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

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 3

 
MERCIA REAL ESTATE (FH) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Revaluation of freeholds

Individual freehold 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.

 
2.4

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.

 
2.5

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.

  
2.6

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.

 
2.7

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.

Page 4

 
MERCIA REAL ESTATE (FH) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Employees

The average monthly number of employees, including the director, during the year was as follows:


        2024
        2023
            No.
            No.







Director
1
1


4.


Tangible fixed assets





Freeholds

£



Valuation


At 1 April 2023
500,000



At 31 March 2024

500,000






Net book value



At 31 March 2024
500,000



At 31 March 2023
500,000

Page 5

 
MERCIA REAL ESTATE (FH) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

           4.Tangible fixed assets (continued)

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




The net book value of land and buildings may be further analysed as follows:


2024
2023
£
£

Freeholds
500,000
500,000


Valuation at 31 March 2023 is as follows:

Freeholds
£


-

At Valuation 
500,000



500,000

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

2024
2023
£
£



Historic cost
121
121

Net book value
121
121


5.


Creditors: Amounts falling due within one year

2024
2023 Restated
£
£

Amounts owed to group undertakings
82
82

Amounts owed to associated undertakings
39
39

121
121


The prior year group and associated undertakings figures have been restated to more accurately reflect the group structure and to bring them into line with the current year's treatment. The total of the combined balances has not changed. 

Page 6

 
MERCIA REAL ESTATE (FH) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Deferred taxation




2024


£






At beginning of year
(124,970)



At end of year
(124,970)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


On revaluation
(124,970)
(124,970)


7.


Contingent liabilities

The company has cross guaranteed the bank borrowings of Mercia Real Estate (PULP) Limited.


8.


Controlling party

The Company's parent undertaking is Mercia Real Estate (UK) Limited.

Page 7