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Registered number: 08887907









LE ROCK INVESTMENTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
LE ROCK INVESTMENTS LIMITED
REGISTERED NUMBER: 08887907

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
2,820,000
3,600,000

  
2,820,000
3,600,000

Current assets
  

Debtors: amounts falling due within one year
 5 
1,133,747
90,249

Cash at bank and in hand
 6 
146,227
14,920

  
1,279,974
105,169

Creditors: amounts falling due within one year
 7 
(2,187,096)
(1,896,109)

Net current liabilities
  
 
 
(907,122)
 
 
(1,790,940)

Total assets less current liabilities
  
1,912,878
1,809,060

Creditors: amounts falling due after more than one year
 8 
(1,766,157)
(1,169,971)

Provisions for liabilities
  

Deferred tax
 10 
(12,843)
(121,883)

  
 
 
(12,843)
 
 
(121,883)

Net assets
  
133,878
517,206


Capital and reserves
  

Called up share capital 
 11 
101
101

Other reserves
  
95,320
442,208

Profit and loss account
  
38,457
74,897

  
133,878
517,206


Page 1

 
LE ROCK INVESTMENTS LIMITED
REGISTERED NUMBER: 08887907
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 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 by: 




................................................
Y Spitzer
Director

Date: 22 January 2025

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

Page 2

 
LE ROCK INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Le Rock Investments Limited is a private company limited by shares and incorporated in England and Wales (registered number: 08887907). The registered office and principal place of business of the Company is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH. 
The principal activity of the Company continued to be that of property investment.
The financial statements are presented in Sterling, which is the functional currency of the 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 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

Investment property

Investment property is carried at fair value determined annually by the directors 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.

 
2.4

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.

Page 3

 
LE ROCK INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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.

 
2.7

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.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.9

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.10

Interest income

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

 
2.11

Borrowing costs

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

 
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.

Page 4

 
LE ROCK INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.13

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).

Page 5

 
LE ROCK INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Investment property





Investment property

£



Valuation


At 1 March 2023
3,600,000


Additions at cost
3,015


Disposals
(403,015)


Surplus/(deficit) on revaluation
(380,000)



At 29 February 2024
2,820,000

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:

29 February
28 February
2024
2023
£
£


Historic cost
2,711,837
3,035,908

2,711,837
3,035,908


5.


Debtors

29 February
28 February
2024
2023
£
£


Other debtors
1,100,399
80,000

Prepayments and accrued income
33,348
10,249

1,133,747
90,249


Page 6

 
LE ROCK INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

6.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
146,227
14,920

146,227
14,920



7.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Bank loans
10,176
9,935

Trade creditors
1,176
-

Corporation tax
-
2,935

Other creditors
2,170,689
1,869,039

Accruals and deferred income
5,055
14,200

2,187,096
1,896,109



8.


Creditors: Amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Bank loans
1,766,157
1,169,971

1,766,157
1,169,971


Page 7

 
LE ROCK INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

9.


Loans


Analysis of the maturity of loans is given below:


29 February
28 February
2024
2023
£
£

Amounts falling due within one year

Bank loans
10,176
9,935

Amounts falling due 1-2 years

Bank loans
10,427
10,176

Amounts falling due 2-5 years

Bank loans
2,664
13,975

Amounts falling due after more than 5 years

Bank loans
1,753,067
1,145,818

1,776,334
1,179,904


The bank loans are secured by way of fixed and floating charges over the assets of the company. The specific loans are secured against the individual assets to which they relate.

Page 8

 
LE ROCK INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

10.


Deferred taxation






2024


£






At beginning of year
(121,883)


Charged to profit or loss
109,040



At end of year
(12,843)

The provision for deferred taxation is made up as follows:

29 February
28 February
2024
2023
£
£


Fair value surplus on investment properties
(12,843)
(121,883)

(12,843)
(121,883)


11.


Share capital

29 February
28 February
2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100
1 (2023 - 1) Ordinary "A" share of £1.00
1
1

101

101


 
Page 9