Caseware UK (AP4) 2024.0.164 2024.0.164 2024-06-302024-06-302023-07-01falseProperty rental11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12697130 2023-07-01 2024-06-30 12697130 2022-07-01 2023-06-30 12697130 2024-06-30 12697130 2023-06-30 12697130 c:CompanySecretary1 2023-07-01 2024-06-30 12697130 c:Director1 2023-07-01 2024-06-30 12697130 c:RegisteredOffice 2023-07-01 2024-06-30 12697130 d:FreeholdInvestmentProperty 2024-06-30 12697130 d:FreeholdInvestmentProperty 2023-06-30 12697130 d:CurrentFinancialInstruments 2024-06-30 12697130 d:CurrentFinancialInstruments 2023-06-30 12697130 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 12697130 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 12697130 d:ShareCapital 2024-06-30 12697130 d:ShareCapital 2023-06-30 12697130 d:RetainedEarningsAccumulatedLosses 2024-06-30 12697130 d:RetainedEarningsAccumulatedLosses 2023-06-30 12697130 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-06-30 12697130 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-06-30 12697130 c:OrdinaryShareClass1 2023-07-01 2024-06-30 12697130 c:OrdinaryShareClass1 2024-06-30 12697130 c:OrdinaryShareClass1 2023-06-30 12697130 c:FRS102 2023-07-01 2024-06-30 12697130 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 12697130 c:FullAccounts 2023-07-01 2024-06-30 12697130 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 12697130 e:PoundSterling 2023-07-01 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12697130









MUSSELBURGH PROP CO LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
MUSSELBURGH PROP CO LTD
 
 
COMPANY INFORMATION


Director
G Holmes 




Company secretary
G Holmes



Registered number
12697130



Registered office
Bentley Reid
29 Queen Anne's Gate

London

SW1H 9BU




Accountants
Rawlinson & Hunter LLP
Chartered Accountants

Eighth Floor

6 New Street Square

New Fetter Lane

London

EC4A 3AQ





 
MUSSELBURGH PROP CO LTD
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Notes to the Financial Statements
 
3 - 6


 
MUSSELBURGH PROP CO LTD
REGISTERED NUMBER: 12697130

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
4,806,747
4,806,747

  
4,806,747
4,806,747

Current assets
  

Cash at bank and in hand
 5 
309,891
178,550

  
309,891
178,550

Creditors: amounts falling due within one year
 6 
(4,801,011)
(4,751,115)

Net current liabilities
  
 
 
(4,491,120)
 
 
(4,572,565)

Total assets less current liabilities
  
315,627
234,182

  

Net assets
  
315,627
234,182


Capital and reserves
  

Called up share capital 
 8 
1
1

Profit and loss account
  
315,626
234,181

  
315,627
234,182


Page 1

 
MUSSELBURGH PROP CO LTD
REGISTERED NUMBER: 12697130
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 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 profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the  and were signed on its behalf by: 




G Holmes
Director

Date: 29 January 2025

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

Page 2

 
MUSSELBURGH PROP CO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Musselburgh Prop Co Limited ("the company") is a private company, limited by shares, incorporated in England and Wales with registration number 12697130. The registered office is Bentley Reid, 29 Queen Anne's Gate, London, SW1H 9BU. 

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 a going concern basis which assumes that the company will continue in operational existence for the forseeable future. 

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
MUSSELBURGH PROP CO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.4

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:

The main revenue of the company is rental income receivable from the rental of company owned property to tenants. Rental income is paid quarterly in advance and is recognised as revenue at the end of the rental period to which it relates.

 
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

Investment property

Investment property is 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 profit or loss.

 
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.

Page 4

 
MUSSELBURGH PROP CO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.


3.


Employees




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


4.


Investment property


Freehold investment property

£



Valuation


At 1 July 2023
4,806,747



At 30 June 2024
4,806,747

The director considers that the historic cost of the investment property reflects its fair value at 30 June 2024. 





5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
309,891
178,550


Page 5

 
MUSSELBURGH PROP CO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
9,581
22,042

Other taxation and social security
9,791
9,874

Amounts due to parent undertakings
4,719,465
4,656,316

Accruals and deferred income
62,174
62,883

4,801,011
4,751,115



7.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
309,891
178,550




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



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


 
Page 6