Caseware UK (AP4) 2024.0.164 2024.0.164 2024-03-312024-03-312023-04-01falsefalseNo description of principal activity55trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09385168 2023-04-01 2024-03-31 09385168 2022-04-01 2023-03-31 09385168 2024-03-31 09385168 2023-03-31 09385168 c:Director2 2023-04-01 2024-03-31 09385168 d:OfficeEquipment 2023-04-01 2024-03-31 09385168 d:OfficeEquipment 2024-03-31 09385168 d:OfficeEquipment 2023-03-31 09385168 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09385168 d:FreeholdInvestmentProperty 2023-04-01 2024-03-31 09385168 d:FreeholdInvestmentProperty 2024-03-31 09385168 d:FreeholdInvestmentProperty 2023-03-31 09385168 d:CurrentFinancialInstruments 2024-03-31 09385168 d:CurrentFinancialInstruments 2023-03-31 09385168 d:Non-currentFinancialInstruments 2024-03-31 09385168 d:Non-currentFinancialInstruments 2023-03-31 09385168 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 09385168 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09385168 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 09385168 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 09385168 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 09385168 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 09385168 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 09385168 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 09385168 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-03-31 09385168 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 09385168 d:ShareCapital 2024-03-31 09385168 d:ShareCapital 2023-03-31 09385168 d:RetainedEarningsAccumulatedLosses 2024-03-31 09385168 d:RetainedEarningsAccumulatedLosses 2023-03-31 09385168 c:OrdinaryShareClass1 2023-04-01 2024-03-31 09385168 c:OrdinaryShareClass1 2024-03-31 09385168 c:OrdinaryShareClass1 2023-03-31 09385168 c:FRS102 2023-04-01 2024-03-31 09385168 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 09385168 c:FullAccounts 2023-04-01 2024-03-31 09385168 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09385168 2 2023-04-01 2024-03-31 09385168 6 2023-04-01 2024-03-31 09385168 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 09385168














COMMERCIAL FREEHOLDS & INVESTMENTS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED  31 MARCH 2024

 
COMMERCIAL FREEHOLDS & INVESTMENTS LIMITED
 

CONTENTS



Page
Statement of financial position
 
1 - 2
Notes to the financial statements
 
3 - 8


 
COMMERCIAL FREEHOLDS & INVESTMENTS LIMITED
REGISTERED NUMBER:09385168

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,655
2,836

Investments
 5 
2,926,921
2,926,921

Investment property
 6 
20,693,763
24,854,502

  
23,623,339
27,784,259

Current assets
  

Debtors: amounts falling due within one year
 7 
398,877
288,891

Cash at bank and in hand
  
3,597,671
642,736

  
3,996,548
931,627

Current liabilities
  

Creditors: amounts falling due within one year
 8 
(1,142,032)
(446,522)

Net current assets
  
 
 
2,854,516
 
 
485,105

Total assets less current liabilities
  
26,477,855
28,269,364

Creditors: amounts falling due after more than one year
 9 
(25,635,127)
(25,663,419)

  

Net assets
  
842,728
2,605,945


Capital and reserves
  

Called up share capital 
 11 
1,000
1,000

Profit and loss account
  
841,728
2,604,945

  
842,728
2,605,945


Page 1

 
COMMERCIAL FREEHOLDS & INVESTMENTS LIMITED
REGISTERED NUMBER:09385168
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 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 on 17 February 2025.




C R Cradock
Director

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

Page 2

 
COMMERCIAL FREEHOLDS & INVESTMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Commercial Freeholds & Investments Limited is a company registered in England and Wales. The registered office address is at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, WD6 1JD.
The principal activity of the Company during the year was that of property investment.
The Company's functional and presentational currency is £ sterling.

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 Company is the parent undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the Company as an individual undertaking and not about its group.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue comprises rent receivable exclusive of Value Added Tax.
Rental income is recognised in the period to which it relates. Rental income received in advance is carried forward as deferred income. 

 
2.3

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, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
Over 4 years

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.

Page 3

 
COMMERCIAL FREEHOLDS & INVESTMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Investment property

Investment property is carried at fair value determined annually 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 Comprehensive Income.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.6

Basic financial instruments

The Company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand, loans to/from related parties.
Trade debtors, other debtors and loans to related parties are recognised initially at the transaction price less attributable transaction costs. Trade creditors, other creditors and loans from related parties are recognised initially at transaction price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors, and loans to related parties.
Interest bearing borrowings, such bank loans, classified as basic financial instruments are recognised initially at the present value of future payments discounted at a market rate of interest. Thereafter they are stated at amortised cost using the effective interest method.
Cash and cash equivalents comprise cash balances and call deposits. Bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.

 
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

Interest income

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

 
2.9

Borrowing costs

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

 
2.10

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.

Page 4

 
COMMERCIAL FREEHOLDS & INVESTMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2023 - 5).


4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 April 2023
3,905


Additions
998



At 31 March 2024

4,903



Depreciation


At 1 April 2023
1,070


Charge for the year on owned assets
1,178



At 31 March 2024

2,248



Net book value



At 31 March 2024
2,655



At 31 March 2023
2,836


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2023
2,926,921



At 31 March 2024
2,926,921




Page 5

 
COMMERCIAL FREEHOLDS & INVESTMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
24,854,502


Additions at cost
97,814


Disposals
(4,258,553)



At 31 March 2024
20,693,763

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




7.


Debtors

2024
2023
£
£


Trade debtors
198,561
120,002

Other debtors
153,944
53,521

Called up share capital not paid
1,000
1,000

Prepayments and accrued income
45,372
114,368

398,877
288,891



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans (secured)
10,001
10,000

Trade creditors
120,375
97,481

Amounts owed to group undertakings
12,610
1,950

Other taxation and social security
652,188
151,079

Accruals and deferred income
346,858
186,012

1,142,032
446,522


Page 6

 
COMMERCIAL FREEHOLDS & INVESTMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans (secured)
15,830
25,833

Other loans
25,518,334
25,544,143

Other creditors
100,963
93,443

25,635,127
25,663,419



10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,001
10,000

Amounts falling due 1-2 years

Bank loans
10,000
10,000

Amounts falling due 2-5 years

Bank loans
5,830
15,833

Amounts falling due after more than 5 years

Other loans
25,518,334
25,544,143

25,544,165
25,579,976


Page 7

 
COMMERCIAL FREEHOLDS & INVESTMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

11.


Share capital

2024
2023
£
£
Allotted, called up and unpaid



1,000 (2023 - 1,000) Ordinary shares of £1 each
1,000
1,000



12.


Related party transactions

The Company forms part of a wholly-owned group and accordingly has taken advantage of the exemption allowed under section 33.1A of FRS 102 not to disclose transactions with other group companies.

 
Page 8