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Registered number: 01516905









STRATHRAY ESTATES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
STRATHRAY ESTATES LIMITED
REGISTERED NUMBER: 01516905

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
7,391
8,695

Investments
 6 
277,866
277,866

Investment property
 7 
4,850,000
4,850,000

  
5,135,257
5,136,561

Current assets
  

Debtors
 8 
2,134,770
2,064,867

Cash at bank and in hand
 9 
157,261
190,928

  
2,292,031
2,255,795

Creditors: amounts falling due within one year
 10 
(100,921)
(108,419)

Net current assets
  
 
 
2,191,110
 
 
2,147,376

Total assets less current liabilities
  
7,326,367
7,283,937

Creditors: amounts falling due after more than one year
 11 
(420,555)
(432,611)

Provisions for liabilities
  

Deferred tax
 13 
(845,775)
(845,775)

  
 
 
(845,775)
 
 
(845,775)

Net assets
  
6,060,037
6,005,551


Capital and reserves
  

Called up share capital 
  
100
100

Other reserves
  
3,456,112
3,456,112

Profit and loss account
  
2,603,825
2,549,339

  
6,060,037
6,005,551


Page 1

 
STRATHRAY ESTATES LIMITED
REGISTERED NUMBER: 01516905
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 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 by: 




................................................
A L Michaels
Director

Date: 21 March 2025

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
STRATHRAY ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Strathray Estates Limited is a private company limited by shares and incorporated in England. Its registered office is at 101 New Cavendish Street, London, United Kingdom, W1W 6XH.
The functional currency used in the preparation of the accounts is Sterling. 

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.

Page 3

 
STRATHRAY ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.3

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
15%

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.

 
2.4

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.

 
2.5

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 reporting date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less 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.

Page 4

 
STRATHRAY ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
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.

 
2.9

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.

 
2.10

Interest income

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

 
2.11

Borrowing costs

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

 
2.12

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.

Page 5

 
STRATHRAY ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.13

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.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the Company's accounting policies, which are described in note 2, management is
required to make judgments, estimates and assumptions about the carrying values of assets and the
liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are
based on historical experience and other factors that are considered to be relevant. Actual results may
differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised if the revisions affect only that
period, or in the period of the revisions and future periods if the revision affects both current and future
periods.
The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the
financial statements are described below.


4.


Employees

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

Page 6

 
STRATHRAY ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 October 2023
150,629



At 30 September 2024

150,629



Depreciation


At 1 October 2023
141,934


Charge for the year on owned assets
1,304



At 30 September 2024

143,238



Net book value



At 30 September 2024
7,391



At 30 September 2023
8,695

Page 7

 
STRATHRAY ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6.


Fixed asset investments





Investments in subsidiary companies
Unlisted investments
Total

£
£
£



Cost or valuation


At 1 October 2023
2
277,864
277,866



At 30 September 2024
2
277,864
277,866





7.


Investment property


Freehold investment property

£



Valuation


At 1 October 2023
4,850,000



At 30 September 2024
4,850,000

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



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
578,746
578,746

578,746
578,746

Page 8

 
STRATHRAY ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

8.


Debtors


2024
2023
£
£

Due after more than one year

Amounts owed by group undertakings
366,326
366,326

366,326
366,326

Due within one year

Other debtors
1,768,444
1,698,541

2,134,770
2,064,867



9.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
157,261
190,928

157,261
190,928



10.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
13,147
13,841

Corporation tax
18,492
25,296

Other creditors
11,317
11,317

Accruals and deferred income
57,965
57,965

100,921
108,419


Page 9

 
STRATHRAY ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

11.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
379,280
391,334

Other creditors
41,275
41,277

420,555
432,611


The bank loan is secured over the investment properties. 


12.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
13,147
13,841


13,147
13,841

Amounts falling due 1-2 years

Bank loans
13,147
13,841


13,147
13,841


Amounts falling due after more than 5 years

Bank loans
366,133
377,493

366,133
377,493

392,427
405,175


Page 10

 
STRATHRAY ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

13.


Deferred taxation




2024


£






At beginning of year
(845,775)



At end of year
(845,775)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Other timing differences
(34,236)
(34,236)

Fair value movement on investment properties
(811,539)
(811,539)

(845,775)
(845,775)

 
Page 11