Caseware UK (AP4) 2024.0.164 2024.0.164 2024-06-302024-06-30true2023-07-01falseNo description of principal activity66falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00954725 2023-07-01 2024-06-30 00954725 2022-07-01 2023-06-30 00954725 2024-06-30 00954725 2023-06-30 00954725 c:Director3 2023-07-01 2024-06-30 00954725 d:FreeholdInvestmentProperty 2024-06-30 00954725 d:FreeholdInvestmentProperty 2023-06-30 00954725 d:CurrentFinancialInstruments 2024-06-30 00954725 d:CurrentFinancialInstruments 2023-06-30 00954725 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 00954725 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 00954725 d:ShareCapital 2024-06-30 00954725 d:ShareCapital 2023-06-30 00954725 d:OtherMiscellaneousReserve 2024-06-30 00954725 d:OtherMiscellaneousReserve 2023-06-30 00954725 d:RetainedEarningsAccumulatedLosses 2024-06-30 00954725 d:RetainedEarningsAccumulatedLosses 2023-06-30 00954725 c:OrdinaryShareClass1 2023-07-01 2024-06-30 00954725 c:OrdinaryShareClass1 2024-06-30 00954725 c:FRS102 2023-07-01 2024-06-30 00954725 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 00954725 c:FullAccounts 2023-07-01 2024-06-30 00954725 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 00954725 2 2023-07-01 2024-06-30 00954725 6 2023-07-01 2024-06-30 00954725 d:AcceleratedTaxDepreciationDeferredTax 2024-06-30 00954725 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 00954725 e:PoundSterling 2023-07-01 2024-06-30 00954725 d:EntityControlledByKeyManagementPersonnel1 2023-07-01 2024-06-30 00954725 d:EntityControlledByKeyManagementPersonnel1 2024-06-30 00954725 d:EntityControlledByKeyManagementPersonnel2 2023-07-01 2024-06-30 00954725 d:EntityControlledByKeyManagementPersonnel2 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 00954725









OWEN COYLE MANAGEMENTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
OWEN COYLE MANAGEMENTS LIMITED
REGISTERED NUMBER: 00954725

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024


2024

2023
Note
£
£
£
£

Fixed assets
  

Investments
 4 
4,500
4,500

Investment property
 5 
6,175,000
6,175,000

  
6,179,500
6,179,500

Current assets
  

Debtors: amounts falling due within one year
 6 
447,426
490,565

Cash at bank and in hand
 7 
458,281
336,935

  
905,707
827,500

Creditors: amounts falling due within one year
 8 
(188,022)
(166,263)

Net current assets
  
 
 
717,685
 
 
661,237

Total assets less current liabilities
  
6,897,185
6,840,737

Provisions for liabilities
  

Deferred tax
 9 
(1,031,982)
(1,031,982)

Net assets
  
5,865,203
5,808,755


Capital and reserves
  

Called up share capital 
 10 
5,000
5,000

Investment property reserve
  
3,388,951
3,388,951

Profit and loss account
  
2,471,252
2,414,804

  
5,865,203
5,808,755


Page 1

 
OWEN COYLE MANAGEMENTS LIMITED
REGISTERED NUMBER: 00954725
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 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 4 March 2025.




G Longman
Director

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

Page 2

 
OWEN COYLE MANAGEMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Owen Coyle Managements Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is 3 Brook Business Centre, Cowley Mill Road, Uxbridge, Middlesex, UB8 2FX.
The company specialises in providing management services to its trading subsidiary and in property letting.

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 a parent undertaking of a small group and as such it 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 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 year 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 reporting date can be measured reliably; and
•  the costs incurred and the costs to complete the contract can be measured reliably.

Revenue recognised in respect of property lettings is recognised over the length of the respective lease term. 

 
2.3

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.

Page 3

 
OWEN COYLE MANAGEMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.4

Investment property

Investment properties are properties held to earn rent and or capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of the investment properties are included in the Statement of comprehensive income in the year in which they arise.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
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

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

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.

 
2.10

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
OWEN COYLE MANAGEMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income 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 Statement of financial position, 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 6 (2023 - 6).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost and net book value


At 1 July 2023
4,500



At 30 June 2024
4,500




Page 5

 
OWEN COYLE MANAGEMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Investment property


Freehold investment property

£



Valuation


At 1 July 2023
6,175,000



At 30 June 2024
6,175,000

The properties have been valued by the directors, on an open market value for existing use basis.
Third party valuations are undertaken on periodic basis and where these are materially different to the directors' valuation, appropriate adjustments are made to accounts.




6.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
324,375
324,375

Other debtors
116,823
160,174

Prepayments and accrued income
6,228
6,016

447,426
490,565



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
458,281
336,935

458,281
336,935


Page 6

 
OWEN COYLE MANAGEMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
10,698
-

Corporation tax
-
10,982

Other taxation and social security
7,911
5,905

Other creditors
91,299
75,669

Accruals and deferred income
78,114
73,707

188,022
166,263



9.


Deferred taxation




2024


£






At beginning of year
1,031,982



At end of year
1,031,982

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Potential capital gains tax
1,031,982
1,031,982

1,031,982
1,031,982


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



5,000 Ordinary shares of £1 each
5,000
5,000


Page 7

 
OWEN COYLE MANAGEMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

11.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £83,771 (2023 - £77,910).


12.


Related party transactions

The company has adopted the exemption permitted by Financial Reporting Standard 102, not to disclose any transactions with any wholly owned members of the group.
 
Included in other debtors is an amount £5,581 (2023 - £5,581) due from a trust, where directors are the beneficiaries.
 
Included in other creditors is an amount of £17,704 (2023 - £374) due to a director of the company.


13.


Controlling party

There is no ultimate controlling party.

 
Page 8