Caseware UK (AP4) 2024.0.164 2024.0.164 2024-06-302024-06-30false22023-07-01falseNo description of principal activity2trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05175569 2023-07-01 2024-06-30 05175569 2022-07-01 2023-06-30 05175569 2024-06-30 05175569 2023-06-30 05175569 c:Director1 2023-07-01 2024-06-30 05175569 d:FreeholdInvestmentProperty 2024-06-30 05175569 d:FreeholdInvestmentProperty 2023-06-30 05175569 d:CurrentFinancialInstruments 2024-06-30 05175569 d:CurrentFinancialInstruments 2023-06-30 05175569 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 05175569 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 05175569 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 05175569 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 05175569 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-06-30 05175569 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-06-30 05175569 d:ShareCapital 2024-06-30 05175569 d:ShareCapital 2023-06-30 05175569 d:RetainedEarningsAccumulatedLosses 2024-06-30 05175569 d:RetainedEarningsAccumulatedLosses 2023-06-30 05175569 c:FRS102 2023-07-01 2024-06-30 05175569 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 05175569 c:FullAccounts 2023-07-01 2024-06-30 05175569 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 05175569 6 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 05175569









NORTHFIELD AVENUE (HOLDINGS) LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
NORTHFIELD AVENUE (HOLDINGS) LTD
REGISTERED NUMBER: 05175569

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
2
2

Investment property
 5 
14,861,009
14,861,009

  
14,861,011
14,861,011

Current assets
  

Debtors: amounts falling due within one year
 6 
4,543,526
4,368,919

Cash at bank and in hand
 7 
130,624
259,806

  
4,674,150
4,628,725

Creditors: amounts falling due within one year
 8 
(1,362,394)
(1,374,524)

Net current assets
  
 
 
3,311,756
 
 
3,254,201

Total assets less current liabilities
  
18,172,767
18,115,212

Creditors: amounts falling due after more than one year
  
(10,261,985)
(10,408,613)

  

Net assets
  
7,910,782
7,706,599


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
7,910,682
7,706,499

  
7,910,782
7,706,599


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.

Page 1

 
NORTHFIELD AVENUE (HOLDINGS) LTD
REGISTERED NUMBER: 05175569
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

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 income and retained earnings 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: 




................................................
R D Swaine
Director

Date: 3 March 2025

The notes on pages 3 to 7 form part of these financial statements.
Page 2

 
NORTHFIELD AVENUE (HOLDINGS) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Northfield Avenue (Holdings) Limited is a company limited by shares incorporated within the United Kingdom. The address of the registered office is Radius House, First Floor, 51 Clarendon Road, Watford, Herts, WD17 1HP. 
The company's principal activity is property investments. 
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

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 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.

 
2.3

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.

 
2.4

Borrowing costs

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

Page 3

 
NORTHFIELD AVENUE (HOLDINGS) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.5

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 profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

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.

 
2.7

Investment property

Investment property is carried at fair value determined annually by the directors 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 Profit and loss account.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

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

 
2.9

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 4

 
NORTHFIELD AVENUE (HOLDINGS) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.10

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.

 
2.11

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.


3.


Employees

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


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 July 2023
2



At 30 June 2024
2




Page 5

 
NORTHFIELD AVENUE (HOLDINGS) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Investment property


Freehold investment property

£



Valuation


At 1 July 2023
14,861,009



At 30 June 2024
14,861,009

The 2024 valuations were made by the directors, who are Chartered Surveyors, on an open market value for existing use basis.







6.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
4,399,624
4,211,639

Other debtors
143,902
157,280

4,543,526
4,368,919



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
130,624
259,806

130,624
259,806


Page 6

 
NORTHFIELD AVENUE (HOLDINGS) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
146,628
138,820

Amounts owed to group undertakings
870,143
871,343

Corporation tax
68,398
80,828

Other taxation and social security
28,467
24,224

Other creditors
18,133
16,573

Accruals and deferred income
230,625
242,736

1,362,394
1,374,524



9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
146,628
138,820


146,628
138,820



Amounts falling due after more than 5 years

Bank loans
10,261,985
10,408,613

10,261,985
10,408,613

10,408,613
10,547,433


 
Page 7