Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31falseNo description of principal activity2023-04-0186falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07996347 2023-04-01 2024-03-31 07996347 2022-04-01 2023-03-31 07996347 2024-03-31 07996347 2023-03-31 07996347 c:Director1 2023-04-01 2024-03-31 07996347 c:Director2 2023-04-01 2024-03-31 07996347 d:Buildings 2023-04-01 2024-03-31 07996347 d:Buildings 2024-03-31 07996347 d:Buildings 2023-03-31 07996347 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07996347 d:FurnitureFittings 2023-04-01 2024-03-31 07996347 d:FurnitureFittings 2024-03-31 07996347 d:FurnitureFittings 2023-03-31 07996347 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07996347 d:ComputerEquipment 2023-04-01 2024-03-31 07996347 d:ComputerEquipment 2024-03-31 07996347 d:ComputerEquipment 2023-03-31 07996347 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07996347 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07996347 d:Goodwill 2023-04-01 2024-03-31 07996347 d:Goodwill 2024-03-31 07996347 d:Goodwill 2023-03-31 07996347 d:CurrentFinancialInstruments 2024-03-31 07996347 d:CurrentFinancialInstruments 2023-03-31 07996347 d:Non-currentFinancialInstruments 2024-03-31 07996347 d:Non-currentFinancialInstruments 2023-03-31 07996347 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 07996347 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07996347 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 07996347 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 07996347 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 07996347 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 07996347 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-03-31 07996347 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 07996347 d:ShareCapital 2024-03-31 07996347 d:ShareCapital 2023-03-31 07996347 d:RetainedEarningsAccumulatedLosses 2024-03-31 07996347 d:RetainedEarningsAccumulatedLosses 2023-03-31 07996347 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 07996347 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 07996347 d:OtherDeferredTax 2024-03-31 07996347 d:OtherDeferredTax 2023-03-31 07996347 c:FRS102 2023-04-01 2024-03-31 07996347 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07996347 c:FullAccounts 2023-04-01 2024-03-31 07996347 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07996347 2 2023-04-01 2024-03-31 07996347 d:Goodwill d:OwnedIntangibleAssets 2023-04-01 2024-03-31 07996347 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 07996347










COBBLES PROPERTY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
COBBLES PROPERTY LIMITED
REGISTERED NUMBER: 07996347

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
58,707
73,384

Tangible assets
 5 
275,302
276,023

  
334,009
349,407

Current assets
  

Debtors: amounts falling due within one year
 6 
18,595
13,180

Cash at bank and in hand
  
73,101
115,617

  
91,696
128,797

Creditors: amounts falling due within one year
 7 
(140,257)
(129,255)

Net current liabilities
  
 
 
(48,561)
 
 
(458)

Total assets less current liabilities
  
285,448
348,949

Creditors: amounts falling due after more than one year
 8 
(251,177)
(276,512)

Provisions for liabilities
  

Deferred tax
  
(1,766)
-

  
 
 
(1,766)
 
 
-

Net assets
  
32,505
72,437


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
32,503
72,435

  
32,505
72,437


Page 1

 
COBBLES PROPERTY LIMITED
REGISTERED NUMBER: 07996347
    
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 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: 




E Gallagher
K Gallagher
Director
Director
Date: 20 February 2025

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
COBBLES PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Cobbles Property Limited (07996347) is a private company limited by shares and incorporated in England & Wales. Its registered office is 134 Worplesdon Road, Guildford, Surrey, GU2 9RX. 

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

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

Interest income

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

 
2.4

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.

 
2.5

Borrowing costs

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

Page 3

 
COBBLES PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

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 Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, 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.


Page 4

 
COBBLES PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Goodwill
-
10
years

 
2.9

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.

Land is not depreciated. Depreciation on other assets 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:

Freehold property
-
2%
Fixtures and fittings
-
25%
Computer equipment
-
25%

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.

 
2.10

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 5

 
COBBLES PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.11

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.

 
2.12

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.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.14

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 8 (2023 - 6).

Page 6

 
COBBLES PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 April 2023
146,765



At 31 March 2024

146,765



Amortisation


At 1 April 2023
73,381


Charge for the year on owned assets
14,677



At 31 March 2024

88,058



Net book value



At 31 March 2024
58,707



At 31 March 2023
73,384



Page 7

 
COBBLES PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Freehold property
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2023
293,205
9,593
33,547
336,345


Additions
-
277
6,103
6,380



At 31 March 2024

293,205
9,870
39,650
342,725



Depreciation


At 1 April 2023
21,619
9,593
29,110
60,322


Charge for the year on owned assets
5,664
49
1,388
7,101



At 31 March 2024

27,283
9,642
30,498
67,423



Net book value



At 31 March 2024
265,922
228
9,152
275,302



At 31 March 2023
271,586
-
4,437
276,023


6.


Debtors

2024
2023
£
£


Trade debtors
11,966
698

Other debtors
-
8,188

Prepayments and accrued income
3,866
4,294

Tax recoverable
2,763
-

18,595
13,180


Included within other debtors due within one year is a loan to E Gallagher, a director, amounting to £ NIL (2023 - £8,188). Amounts repaid during the year totalled £NIL.  The main conditions were as follows:

- Interest free
- Repayable on demand

Page 8

 
COBBLES PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
15,787
4,488

Trade creditors
7,431
7,570

Corporation tax
3,809
9,433

Other taxation and social security
25,623
27,885

Other creditors
85,172
77,444

Accruals and deferred income
2,435
2,435

140,257
129,255


The following liabilities were secured:

2024
2023
£
£



Bank loans
15,787
4,488

Details of security provided:

The bank loans are secured by a lein over the company's property, namely a debenture granted in favour of Barclays Security Trustee Limited for the benefit of Barclays Bank plc and two personal guarantees from K and E Gallagher, the first for £50,000 and the second £100,000 both in favour of Barclays Bank UK PLC and Barclays Bank PLC.

Page 9

 
COBBLES PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
251,177
276,512


The following liabilities were secured:

2024
2023
£
£



Bank loans
266,964
276,512

Details of security provided:

The bank loans are secured by a lein over the company's property, namely a debenture granted in favour of Barclays Security Trustee Limited for the benefit of Barclays Bank plc and two personal guarantees from K and E Gallagher, the first for £50,000 and the second £100,000 both in favour of Barclays Bank UK PLC and Barclays Bank PLC.

The aggregate amount of liabilities repayable wholly or in part more than five years after the reporting date is:

2024
2023
£
£


Repayable by instalments
173,800
225,486

The bank loan is repayable in 132 installments which vary with the bank interest rate. 

Page 10

 
COBBLES PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
15,787
4,488


15,787
4,488


Amounts falling due 2-5 years

Bank loans
77,376
51,026

Amounts falling due after more than 5 years

Bank loans
173,801
225,486

266,964
281,000



10.


Deferred taxation




2024


£






Charged to profit or loss
(1,766)



At end of year
(1,766)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(1,782)
-

Short term timing differences
16
-

(1,766)
-

Page 11

 
COBBLES PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 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 £2,054 (2023 - £1,797) . Contributions totalling £522 (2023 - £201) were payable to the fund at the reporting date and are included in creditors.

 
Page 12