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Registered number: 08620420





 
HPC (Glynneath) Limited          
 
Financial statements          

For the year ended 30 June 2024          

 
HPC (Glynneath) Limited
Registered number:08620420

Balance sheet
As at 30 June 2024

2024
2023
                                                                                                                                      Note
£
£

  

Current assets
  

Debtors
 4 
69,980
69,980

Cash at bank and in hand
 5 
350
500

  
70,330
70,480

Creditors: amounts falling due within one year
 6 
(57,780)
(57,780)

  

Net assets
  
12,550
12,700


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
12,450
12,600

  
12,550
12,700


For the year ended 30 June 2024 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

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 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 17 March 2025.




P Stacey
Director




The notes on pages 2 to 5 form part of these financial statements.
Page 1

 
HPC (Glynneath) Limited
 
 
Notes to the financial statements
For the year ended 30 June 2024

1.


General information

HPC (Glynneath) Limited is a private company limited by shares incorporated in England and Wales. Its registered office is South House Farm, Mundon Road, Maldon, Essex, CM9 6PP.

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.

 
2.2

Going concern

These accounts have been prepared on the going concern basis, on the understanding that the director and parent company, The Healthcare Property Company Wales Limited, will continue to financially support the company.

 
2.3

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.

 
2.4

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.

 
2.5

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 with the operating cycle fall into this category of financial instruments.

 
Page 2

 
HPC (Glynneath) Limited
 
 
Notes to the financial statements
For the year ended 30 June 2024

2.Accounting policies (continued)


2.5
Financial instruments (continued)


Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

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.

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.

Page 3

 
HPC (Glynneath) Limited
 
 
Notes to the financial statements
For the year ended 30 June 2024

2.Accounting policies (continued)

 
2.6

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

 
HPC (Glynneath) Limited
 
 
Notes to the financial statements
For the year ended 30 June 2024

4.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
12,200
12,200

Other debtors
57,780
57,780

69,980
69,980



5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
350
500



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other creditors
57,780
57,780




7.


Controlling party

The ultimate controlling party is The Healthcare Preoperty Group Limited.

 
Page 5