Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01false11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12918411 2023-04-01 2024-03-31 12918411 2022-04-01 2023-03-31 12918411 2024-03-31 12918411 2023-03-31 12918411 c:Director1 2023-04-01 2024-03-31 12918411 d:Buildings 2023-04-01 2024-03-31 12918411 d:Buildings 2024-03-31 12918411 d:Buildings 2023-03-31 12918411 d:CurrentFinancialInstruments 2024-03-31 12918411 d:CurrentFinancialInstruments 2023-03-31 12918411 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 12918411 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 12918411 d:ShareCapital 2024-03-31 12918411 d:ShareCapital 2023-03-31 12918411 d:RevaluationReserve 2024-03-31 12918411 d:RevaluationReserve 2023-03-31 12918411 d:RetainedEarningsAccumulatedLosses 2024-03-31 12918411 d:RetainedEarningsAccumulatedLosses 2023-03-31 12918411 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-03-31 12918411 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 12918411 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 12918411 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 12918411 c:FRS102 2023-04-01 2024-03-31 12918411 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 12918411 c:FullAccounts 2023-04-01 2024-03-31 12918411 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12918411 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 12918411










MERCIA REAL ESTATE (TOWNHOUSE) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
MERCIA REAL ESTATE (TOWNHOUSE) LIMITED
 

CONTENTS



Page
Statement of financial position
 
1 - 2
Notes to the financial statements
 
3 - 7


 
MERCIA REAL ESTATE (TOWNHOUSE) LIMITED
REGISTERED NUMBER: 12918411

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
500,000
500,000

Current assets
  

Debtors
 5 
3,360
160

Cash at bank and in hand
  
59
88

  
3,419
248

Creditors: amounts falling due within one year
 6 
(27,975)
(18,821)

Net current liabilities
  
 
 
(24,556)
 
 
(18,573)

Total assets less current liabilities
  
475,444
481,427

Provisions for liabilities
  

Deferred tax
 8 
(123,613)
(123,881)

Net assets
  
351,831
357,546


Capital and reserves
  

Called up share capital 
  
100
100

Revaluation reserve
  
370,836
371,642

Profit and loss account
  
(19,105)
(14,196)

  
351,831
357,546


Page 1

 
MERCIA REAL ESTATE (TOWNHOUSE) LIMITED
REGISTERED NUMBER: 12918411
    
STATEMENT OF FINANCIAL POSITION (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 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 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 (TOWNHOUSE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

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

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 reporting 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 reporting 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 reporting date.


 
2.3

Investment property

Investment properties are carried at fair value determined annually by the director 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 the Statement of income and retained earnings.

Page 3

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

2.Accounting policies (continued)

 
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.

 
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.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 4

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

4.


Tangible fixed assets





Investment Property

£



Valuation


At 1 April 2023
500,000


Additions
1,074


Revaluations
(1,074)



At 31 March 2024

500,000






Net book value



At 31 March 2024
500,000



At 31 March 2023
500,000

Valuation at 31 March 2024 is as follows:

Investment property
£


-
At valuation:

500,000



500,000

If the investment property had not been included at valuation they would have been included under the historical cost convention as follows:

2024
2023
£
£



Cost
5,551
4,477

Net book value
5,551
4,477

Page 5

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

5.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
-
100

Other debtors
3,300
-

Prepayments and accrued income
60
60

3,360
160



6.


Creditors: Amounts falling due within one year

2024
2023 Restated
£
£

Trade creditors
2,574
2,220

Amounts owed to group undertakings
7,700
-

Amounts owed to associated undertakings
13,751
11,501

Accruals and deferred income
3,950
5,100

27,975
18,821


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. 


7.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
59
-




Financial assets measured at fair value through profit or loss comprise...

Page 6

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

8.


Deferred taxation




2024


£






At beginning of year
(123,881)


Utilised in year
268



At end of year
(123,613)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(123,613)
(123,881)


9.


Parent undertaking

The parent company is Mercia Real Estate (UK) Limited which is incorporated in England.

 
Page 7