Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-312false2023-06-01falseNo description of principal activity2falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13560521 2023-06-01 2024-05-31 13560521 2022-06-01 2023-05-31 13560521 2024-05-31 13560521 2023-05-31 13560521 c:Director2 2023-06-01 2024-05-31 13560521 d:FreeholdInvestmentProperty 2023-06-01 2024-05-31 13560521 d:FreeholdInvestmentProperty 2024-05-31 13560521 d:FreeholdInvestmentProperty 2023-05-31 13560521 d:CurrentFinancialInstruments 2024-05-31 13560521 d:CurrentFinancialInstruments 2023-05-31 13560521 d:Non-currentFinancialInstruments 2024-05-31 13560521 d:Non-currentFinancialInstruments 2023-05-31 13560521 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 13560521 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 13560521 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 13560521 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 13560521 d:ShareCapital 2024-05-31 13560521 d:ShareCapital 2023-05-31 13560521 d:RetainedEarningsAccumulatedLosses 2024-05-31 13560521 d:RetainedEarningsAccumulatedLosses 2023-05-31 13560521 c:OrdinaryShareClass1 2023-06-01 2024-05-31 13560521 c:OrdinaryShareClass1 2024-05-31 13560521 c:OrdinaryShareClass1 2023-05-31 13560521 c:FRS102 2023-06-01 2024-05-31 13560521 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 13560521 c:FullAccounts 2023-06-01 2024-05-31 13560521 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 13560521 4 2023-06-01 2024-05-31 13560521 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 13560521









FGC NW2 LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
FGC NW2 LTD
REGISTERED NUMBER: 13560521

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
875,000
2,325,000

  
875,000
2,325,000

Current assets
  

Debtors: amounts falling due within one year
 5 
1,808
585

Cash at bank and in hand
 6 
10,546
32,608

  
12,354
33,193

Creditors: amounts falling due within one year
 7 
(294,576)
(999,812)

Net current liabilities
  
 
 
(282,222)
 
 
(966,619)

Total assets less current liabilities
  
592,778
1,358,381

Creditors: amounts falling due after more than one year
 8 
(624,938)
(1,505,812)

  

Net liabilities
  
(32,160)
(147,431)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(32,161)
(147,432)

  
(32,160)
(147,431)


Page 1

 
FGC NW2 LTD
REGISTERED NUMBER: 13560521
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 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: 




R Soltanie
Director

Date: 18 February 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
FGC NW2 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

FGC NW2 Limited is a private company limited by shares incorporated in England and Wales. The registered office is 37-39 Maida Vale, London, England, W9 1TP. 
The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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 financial statements have been prepared on the going concern basis. The company is dependent on the directors and shareholders for financial support, which the directors are confident will continue for a period of at least another 12 months.
As at 31 May 2024, the company had net liabilities of £32,160. The directors and shareholders have indicated their present intention to provide adequate finance to enable the company to continue in operational existence and on this basis the director considers it appropriate to prepare the financial statements on the going concern basis.
The financial statements do not reflect any adjustments that would result from a withdrawal of financial support by the directors and shareholders.

 
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:

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.

Page 3

 
FGC NW2 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.4

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.

 
2.5

Borrowing costs

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

 
2.6

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 reporting date in the countries where the Company operates and generates income.


 
2.7

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
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

 
FGC NW2 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Investment property


Freehold investment property

£



Valuation


At 1 June 2023
2,325,000


Disposals
(1,450,000)



At 31 May 2024
875,000

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






5.


Debtors

2024
2023
£
£


Prepayments and accrued income
1,808
585

1,808
585



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
10,546
32,608

10,546
32,608


Page 5

 
FGC NW2 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
271,184
997,652

Corporation tax
20,392
-

Accruals and deferred income
3,000
2,160

294,576
999,812



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
624,938
1,505,812

624,938
1,505,812


Bank loans have been secured on investment properties held within the company.


9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) Ordinary share share of £1.00
1
1


 
Page 6