Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-312023-08-01falseThe principal activity of the company is property development.22falsetruefalse 09839069 2023-08-01 2024-07-31 09839069 2022-08-01 2023-07-31 09839069 2024-07-31 09839069 2023-07-31 09839069 2022-08-01 09839069 1 2023-08-01 2024-07-31 09839069 d:Director1 2023-08-01 2024-07-31 09839069 c:CurrentFinancialInstruments 2024-07-31 09839069 c:CurrentFinancialInstruments 2023-07-31 09839069 c:CurrentFinancialInstruments c:WithinOneYear 2024-07-31 09839069 c:CurrentFinancialInstruments c:WithinOneYear 2023-07-31 09839069 c:ShareCapital 2024-07-31 09839069 c:ShareCapital 2023-07-31 09839069 c:ShareCapital 2022-08-01 09839069 c:RetainedEarningsAccumulatedLosses 2023-08-01 2024-07-31 09839069 c:RetainedEarningsAccumulatedLosses 2024-07-31 09839069 c:RetainedEarningsAccumulatedLosses 2022-08-01 2023-07-31 09839069 c:RetainedEarningsAccumulatedLosses 2023-07-31 09839069 c:RetainedEarningsAccumulatedLosses 2022-08-01 09839069 d:FRS102 2023-08-01 2024-07-31 09839069 d:Audited 2023-08-01 2024-07-31 09839069 d:FullAccounts 2023-08-01 2024-07-31 09839069 d:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 09839069 d:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 09839069 2 2023-08-01 2024-07-31 09839069 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Registered number: 09839069










FRONTIER ESTATES (MERING) LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
FRONTIER ESTATES (MERING) LIMITED
 

CONTENTS



Page
Balance sheet
 
1
Statement of changes in equity
 
2
Notes to the financial statements
 
3 - 7


 
FRONTIER ESTATES (MERING) LIMITED
REGISTERED NUMBER: 09839069

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
 4 
-
996,760

Debtors: amounts falling due within one year
 5 
86,924
2,281

Cash at bank and in hand
 6 
1,977
127

  
88,901
999,168

Creditors: amounts falling due within one year
 7 
(4,000)
(375,606)

Net current assets
  
 
 
84,901
 
 
623,562

Total assets less current liabilities
  
84,901
623,562

  

Net assets
  
84,901
623,562


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
84,899
623,560

Shareholders' funds
  
84,901
623,562


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 board and were signed on its behalf on 25 February 2025.




................................................
A J Crowther
Director

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

Page 1

 
FRONTIER ESTATES (MERING) LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2024


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 August 2023
2
623,560
623,562



Profit for the year
-
261,339
261,339

Dividends: Equity capital
-
(800,000)
(800,000)


At 31 July 2024
2
84,899
84,901


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


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 August 2022
2
679,085
679,087



Loss for the year
-
(55,525)
(55,525)


At 31 July 2023
2
623,560
623,562


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

Page 2

 
FRONTIER ESTATES (MERING) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

The company is a private company limited by shares, and is incorporated in England and Wales (09839069). The address of its registered office is 25 Oldbury Place, London, United Kingdom, W1U 5PN.

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 directors have not prepared the financial statements on a going concern basis as they intend to liquidate the Company following the sale of property stock. The accounts have been prepared using the normal recognition and measurement criteria of FRS 102, only deviating from these where adequate justification exists. 

  
2.3

Turnover

Turnover comprises proceeds from sale of property and is recognised on legal completion.

 
2.4

Interest income

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

 
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

Stocks

Stock consists of property under development and is valued at the lower of cost and estimated selling price less costs to sell.

 
2.7

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.

Page 3

 
FRONTIER ESTATES (MERING) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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.

 
2.10

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.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due within the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Page 4

 
FRONTIER ESTATES (MERING) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)


2.10
Financial instruments (continued)

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

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


4.


Stocks

2024
2023
£
£

Property under development
-
996,760


Page 5

 
FRONTIER ESTATES (MERING) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
26,924
-

Other debtors
60,000
1,442

Prepayments and accrued income
-
839

86,924
2,281



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,977
127



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
-
1,170

Amounts owed to group undertakings
-
23,076

Accruals and deferred income
4,000
351,360

4,000
375,606



8.


Related party transactions

The Company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' not to disclose related party transactions between two or more wholly owned members of a group.


9.


Controlling party

The ultimate parent company is Frontier Estates Limited. The ultimate controlling parties throughout this and the previous period were the directors of the parent company.
The accounts of the company are consolidated within the accounts of the Frontier Estates Limited and a copy of the consolidated accounts can be obtained from the company's registered address at 25 Oldbury Place, London, W1U 5PN.

Page 6

 
FRONTIER ESTATES (MERING) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

10.


Auditors' information

The audit report is unqualified.

In their report, the auditors emphasised the following matter without qualifying their report:
We draw attention to note 2.2 in the financial statements, which indicates that the directors intend to liquidate the Company and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. As stated in note 2.2, these events or conditions, along with the other matters as set forth in note 2.2, indicate that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

The audit report was signed on 25 February 2025 by Abdultaiyab Pisavadi BSc FCA (Senior statutory auditor) on behalf of Sumer Auditco Limited.

 
Page 7