Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-292023-03-01falsetrueNo description of principal activity22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12135378 2023-03-01 2024-02-29 12135378 2022-03-01 2023-02-28 12135378 2024-02-29 12135378 2023-02-28 12135378 c:Director1 2023-03-01 2024-02-29 12135378 d:MotorVehicles 2023-03-01 2024-02-29 12135378 d:MotorVehicles 2024-02-29 12135378 d:MotorVehicles 2023-02-28 12135378 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 12135378 d:FurnitureFittings 2023-03-01 2024-02-29 12135378 d:FurnitureFittings 2024-02-29 12135378 d:FurnitureFittings 2023-02-28 12135378 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 12135378 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 12135378 d:FreeholdInvestmentProperty 2024-02-29 12135378 d:FreeholdInvestmentProperty 2023-02-28 12135378 d:CurrentFinancialInstruments 2024-02-29 12135378 d:CurrentFinancialInstruments 2023-02-28 12135378 d:Non-currentFinancialInstruments 2024-02-29 12135378 d:Non-currentFinancialInstruments 2023-02-28 12135378 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 12135378 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 12135378 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 12135378 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 12135378 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-02-29 12135378 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-02-28 12135378 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-02-29 12135378 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-02-28 12135378 d:ShareCapital 2024-02-29 12135378 d:ShareCapital 2023-02-28 12135378 d:RetainedEarningsAccumulatedLosses 2024-02-29 12135378 d:RetainedEarningsAccumulatedLosses 2023-02-28 12135378 c:OrdinaryShareClass1 2023-03-01 2024-02-29 12135378 c:OrdinaryShareClass1 2024-02-29 12135378 c:OrdinaryShareClass1 2023-02-28 12135378 c:FRS102 2023-03-01 2024-02-29 12135378 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 12135378 c:FullAccounts 2023-03-01 2024-02-29 12135378 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 12135378 e:PoundSterling 2023-03-01 2024-02-29 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12135378









PETRAM LONDON LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
PETRAM LONDON LIMITED
REGISTERED NUMBER: 12135378

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
24,905
1,158

Investment property
 5 
511,409
511,409

  
536,314
512,567

Current assets
  

Debtors: amounts falling due within one year
 6 
13,498
12,986

Cash at bank and in hand
 7 
6,914
63,806

  
20,412
76,792

Creditors: amounts falling due within one year
 8 
(175,760)
(252,631)

Net current liabilities
  
 
 
(155,348)
 
 
(175,839)

Total assets less current liabilities
  
380,966
336,728

Creditors: amounts falling due after more than one year
 9 
(13,097)
(23,296)

  

Net assets
  
367,869
313,432


Capital and reserves
  

Called up share capital 
 11 
100
100

Profit and loss account
  
367,769
313,332

  
367,869
313,432


Page 1

 
PETRAM LONDON LIMITED
REGISTERED NUMBER: 12135378
    
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: 




J A Taylor
Director

Date: 10 February 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
PETRAM LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Petram London Limited is a private company limited by shares and incorporated in England and Wales (registered number: 12135378). The registered office is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.
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

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.

 
2.4

Borrowing costs

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

Page 3

 
PETRAM LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.5

Taxation

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.


 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
Fixtures and fittings
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

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.

 
2.8

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.

 
2.9

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.

Page 4

 
PETRAM LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.10

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 year was 2 (2023 - 2).


4.


Tangible fixed assets







Motor vehicles
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 March 2023
-
1,544
1,544


Additions
32,049
-
32,049



At 29 February 2024

32,049
1,544
33,593



Depreciation


At 1 March 2023
-
386
386


Charge for the year on owned assets
8,012
290
8,302



At 29 February 2024

8,012
676
8,688



Net book value



At 29 February 2024
24,037
868
24,905



At 28 February 2023
-
1,158
1,158

Page 5

 
PETRAM LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Investment property





Freehold investment property

£



Valuation


At 1 March 2023
511,409



At 29 February 2024
511,409

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





6.


Debtors

29 February
28 February
2024
2023
£
£


Other debtors
12,502
12,502

Prepayments and accrued income
996
484

13,498
12,986



7.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
6,914
63,806

6,914
63,806


Page 6

 
PETRAM LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

8.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Bank loans
10,197
9,954

Amounts owed to group undertakings
138,859
172,186

Corporation tax
7,200
47,788

Other creditors
15,904
15,903

Accruals and deferred income
3,600
6,800

175,760
252,631



9.


Creditors: Amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Bank loans
13,097
23,296

13,097
23,296


Page 7

 
PETRAM LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

10.


Loans


Analysis of the maturity of loans is given below:


29 February
28 February
2024
2023
£
£

Amounts falling due within one year

Bank loans
10,197
9,954


10,197
9,954

Amounts falling due 1-2 years

Bank loans
10,447
20,644


10,447
20,644

Amounts falling due 2-5 years

Bank loans
2,651
2,651


2,651
2,651


23,295
33,249



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



12.


Controlling party

The immediate and ultimate parent company is Lascaux Limited, a private company limited by shares and incorporated in England & Wales (registered number: 08507031). The registered office address of Lascaux Limited is Petram House, Gateway, London, SE17 3FT.

 
Page 8