Caseware UK (AP4) 2024.0.164 2024.0.164 2024-03-312024-03-312023-04-01falseNo description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10190884 2023-04-01 2024-03-31 10190884 2022-04-01 2023-03-31 10190884 2024-03-31 10190884 2023-03-31 10190884 c:Director1 2023-04-01 2024-03-31 10190884 d:FreeholdInvestmentProperty 2024-03-31 10190884 d:FreeholdInvestmentProperty 2023-03-31 10190884 d:CurrentFinancialInstruments 2024-03-31 10190884 d:CurrentFinancialInstruments 2023-03-31 10190884 d:Non-currentFinancialInstruments 2024-03-31 10190884 d:Non-currentFinancialInstruments 2023-03-31 10190884 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 10190884 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10190884 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 10190884 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 10190884 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 10190884 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 10190884 d:ShareCapital 2024-03-31 10190884 d:ShareCapital 2023-03-31 10190884 d:RetainedEarningsAccumulatedLosses 2024-03-31 10190884 d:RetainedEarningsAccumulatedLosses 2023-03-31 10190884 c:OrdinaryShareClass1 2023-04-01 2024-03-31 10190884 c:OrdinaryShareClass1 2024-03-31 10190884 c:OrdinaryShareClass1 2023-03-31 10190884 c:FRS102 2023-04-01 2024-03-31 10190884 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 10190884 c:FullAccounts 2023-04-01 2024-03-31 10190884 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10190884 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 10190884









PROSPECT HOLDINGS (WEST MIDLANDS) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
PROSPECT HOLDINGS (WEST MIDLANDS) LIMITED
REGISTERED NUMBER: 10190884

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
1,984,649
1,984,649

  
1,984,649
1,984,649

Current assets
  

Cash at bank and in hand
  
27,219
1,923

  
27,219
1,923

Creditors: amounts falling due within one year
 5 
(834,643)
(783,982)

Net current liabilities
  
 
 
(807,424)
 
 
(782,059)

Total assets less current liabilities
  
1,177,225
1,202,590

Creditors: amounts falling due after more than one year
 6 
(870,432)
(930,923)

  

Net assets
  
306,793
271,667


Capital and reserves
  

Called up share capital 
 8 
1
1

Profit and loss account
  
306,792
271,666

  
306,793
271,667


Page 1

 
PROSPECT HOLDINGS (WEST MIDLANDS) LIMITED
REGISTERED NUMBER: 10190884
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 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 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 on 21 March 2025.




Shailesh Chandra Kantilal Parekh
Director

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

Page 2

 
PROSPECT HOLDINGS (WEST MIDLANDS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The Company is a private company, limited by shares, incorporated and domiciled in England within the United Kingdom, registration number 10190884.  The Company's registered office is 288-298 Tyburn Road, Birmingham, B24 8LY.
The financial statements are presented in sterling which is the functional currency of the company and the financial statements are rounded to the nearest £1.

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.

Cash flow
Under Financial Reporting Standard 102, the company is exempt from the requirement to prepare a cash flow statement on the grounds that it qualifies as a small company.

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

 
PROSPECT HOLDINGS (WEST MIDLANDS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
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 external valuers 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.


3.


Employees

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

Page 4

 
PROSPECT HOLDINGS (WEST MIDLANDS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
1,984,649



At 31 March 2024
1,984,649

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





5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
76,416
92,655

Corporation tax
73,827
57,855

Other creditors
684,400
633,472

834,643
783,982


The following liabilities were secured:

2024
2023
£
£



Bank loans
76,416
92,655

76,416
92,655

Details of security provided:

Bank loans contain fixed and floating charges which are secured against the property of the company.

Page 5

 
PROSPECT HOLDINGS (WEST MIDLANDS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
870,432
930,923

870,432
930,923


The following liabilities were secured:

2024
2023
£
£



Bank loans
870,432
930,923

870,432
930,923

Details of security provided:

Bank loans contain fixed and floating charges which are secured against the property of the company.


7.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
76,416
92,655


76,416
92,655

Amounts falling due 1-2 years

Bank loans
870,432
930,923


870,432
930,923



946,848
1,023,578



8.


Share capital

2024
2023
£
£
Page 6

 
PROSPECT HOLDINGS (WEST MIDLANDS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.Share capital (continued)

Allotted, called up and fully paid



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



9.


Transactions with directors

As at the balance sheet date £4,412 (2023: £4,392) was due to the director. The loan is interest free and repayable on demand. 

 
Page 7