Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-052024-04-0522023-04-06falseNo description of principal activity2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00614564 2023-04-06 2024-04-05 00614564 2022-04-06 2023-04-05 00614564 2024-04-05 00614564 2023-04-05 00614564 c:Director1 2023-04-06 2024-04-05 00614564 d:Buildings 2024-04-05 00614564 d:Buildings 2023-04-05 00614564 d:CurrentFinancialInstruments 2024-04-05 00614564 d:CurrentFinancialInstruments 2023-04-05 00614564 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-05 00614564 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-05 00614564 d:ShareCapital 2024-04-05 00614564 d:ShareCapital 2023-04-05 00614564 d:OtherMiscellaneousReserve 2024-04-05 00614564 d:OtherMiscellaneousReserve 2023-04-05 00614564 d:RetainedEarningsAccumulatedLosses 2024-04-05 00614564 d:RetainedEarningsAccumulatedLosses 2023-04-05 00614564 c:FRS102 2023-04-06 2024-04-05 00614564 c:AuditExempt-NoAccountantsReport 2023-04-06 2024-04-05 00614564 c:FullAccounts 2023-04-06 2024-04-05 00614564 c:PrivateLimitedCompanyLtd 2023-04-06 2024-04-05 00614564 d:OtherDeferredTax 2024-04-05 00614564 d:OtherDeferredTax 2023-04-05 00614564 2 2023-04-06 2024-04-05 00614564 6 2023-04-06 2024-04-05 00614564 e:PoundSterling 2023-04-06 2024-04-05 iso4217:GBP xbrli:pure

Registered number: 00614564









FINSBURY SQUARE PROPERTY COMPANY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 5 APRIL 2024

 
FINSBURY SQUARE PROPERTY COMPANY LIMITED
REGISTERED NUMBER: 00614564

STATEMENT OF FINANCIAL POSITION
AS AT 5 APRIL 2024

2024
2023
                                                                     Note
£
£

Fixed assets
  

Tangible assets
 4 
300,000
300,000

Investments
 5 
701
701

  
300,701
300,701

Current assets
  

Debtors: amounts falling due within one year
 6 
255,974
218,121

Cash at bank and in hand
 7 
1,510
1,498

  
257,484
219,619

Creditors: amounts falling due within one year
 8 
(258,814)
(219,207)

Net current (liabilities)/assets
  
 
 
(1,330)
 
 
412

Total assets less current liabilities
  
299,371
301,113

Provisions for liabilities
  

Deferred tax
 9 
(73,605)
(73,605)

  
 
 
(73,605)
 
 
(73,605)

Net assets
  
225,766
227,508


Capital and reserves
  

Called up share capital 
  
1,001
1,001

Other reserves
  
220,817
220,817

Profit and loss account
  
3,948
5,690

  
225,766
227,508


Page 1

 
FINSBURY SQUARE PROPERTY COMPANY LIMITED
REGISTERED NUMBER: 00614564
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 5 APRIL 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: 




C W Lewis
Director

Date: 17 February 2025

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

Page 2

 
FINSBURY SQUARE PROPERTY COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

1.


General information

Finsbury Square Property Company Limited is a private company limited by shares and incorporated in England and Wales. 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

Going concern

In assessing the ability of the company to operate as a going concern, management have evaluated current and forecasted operational results, and the solvency of the company. Given that the company is in a net asset position the directors consider it appropriate to prepare the financial statements on a going concern basis.
Accordingly the directors have continued to prepare the financial statements on the going concern basis.

 
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

 
FINSBURY SQUARE PROPERTY COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

2.Accounting policies (continued)

  
2.4

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.
Freehold property and land is not depreciated.
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 the Statement of comprehensive income.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.6

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.

 
2.7

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.

 
2.8

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.

 
2.9

Interest income

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

Page 4

 
FINSBURY SQUARE PROPERTY COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

2.Accounting policies (continued)

 
2.10

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.

 
2.11

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.



3.


Employees

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

Page 5

 
FINSBURY SQUARE PROPERTY COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

4.


Tangible fixed assets





Freehold investment property

£



Cost or valuation


At 6 April 2023
300,000



At 5 April 2024

300,000






Net book value



At 5 April 2024
300,000



At 5 April 2023
300,000


5.


Fixed asset investments





Investments in subsidiary companies
Listed investments
Total

£
£
£



Cost or valuation


At 6 April 2023
1
700
701



At 5 April 2024
1
700
701





6.


Debtors

2024
2023
£
£


Trade debtors
157,629
136,621

Amounts owed by group undertakings
7,611
7,611

Other debtors
90,734
73,889

255,974
218,121


Page 6

 
FINSBURY SQUARE PROPERTY COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,510
1,498

1,510
1,498



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Payments received on account
247,761
208,889

Other creditors
5,541
5,541

Accruals and deferred income
5,512
4,777

258,814
219,207



9.


Deferred taxation




2024


£






At beginning of year
(73,605)



At end of year
(73,605)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Fair value movement
(73,605)
(73,605)

(73,605)
(73,605)


10.


Controlling party

There is no single ultimate controlling party.

 
Page 7