Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31No description of principal activity2023-04-01false11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12558926 2023-04-01 2024-03-31 12558926 2022-04-01 2023-03-31 12558926 2024-03-31 12558926 2023-03-31 12558926 c:Director1 2023-04-01 2024-03-31 12558926 d:FurnitureFittings 2023-04-01 2024-03-31 12558926 d:FurnitureFittings 2024-03-31 12558926 d:FurnitureFittings 2023-03-31 12558926 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 12558926 d:ComputerEquipment 2023-04-01 2024-03-31 12558926 d:ComputerEquipment 2024-03-31 12558926 d:ComputerEquipment 2023-03-31 12558926 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 12558926 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 12558926 d:FreeholdInvestmentProperty 2023-04-01 2024-03-31 12558926 d:FreeholdInvestmentProperty 2024-03-31 12558926 d:FreeholdInvestmentProperty 2023-03-31 12558926 d:CurrentFinancialInstruments 2024-03-31 12558926 d:CurrentFinancialInstruments 2023-03-31 12558926 d:Non-currentFinancialInstruments 2024-03-31 12558926 d:Non-currentFinancialInstruments 2023-03-31 12558926 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 12558926 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 12558926 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 12558926 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 12558926 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-03-31 12558926 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 12558926 d:ShareCapital 2024-03-31 12558926 d:ShareCapital 2023-03-31 12558926 d:RetainedEarningsAccumulatedLosses 2024-03-31 12558926 d:RetainedEarningsAccumulatedLosses 2023-03-31 12558926 c:OrdinaryShareClass1 2023-04-01 2024-03-31 12558926 c:OrdinaryShareClass1 2024-03-31 12558926 c:OrdinaryShareClass1 2023-03-31 12558926 c:FRS102 2023-04-01 2024-03-31 12558926 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 12558926 c:FullAccounts 2023-04-01 2024-03-31 12558926 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12558926 6 2023-04-01 2024-03-31 12558926 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 12558926










USL A LTD
 (PREVIOUSLY KNOWN AS JPW RES LTD)






UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
USL A LTD (PREVIOUSLY KNOWN AS JPW RES LTD)
REGISTERED NUMBER: 12558926

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
6,084
-

Investments
 5 
-
56,881

Investment property
 6 
3,449,106
3,429,801

  
3,455,190
3,486,682

Current assets
  

Debtors: amounts falling due within one year
 7 
960,122
6,252

Cash at bank and in hand
 8 
92,134
629,438

  
1,052,256
635,690

Current liablities
  

Creditors: amounts falling due within one year
 9 
(1,623,588)
(1,238,204)

Total assets less current liabilities
  
 
 
2,883,858
 
 
2,884,168

Creditors: amounts falling due after more than one year
 10 
(2,664,705)
(2,722,594)

  

Net assets
  
219,153
161,574


Capital and reserves
  

Called up share capital 
 12 
1
1

Profit and loss account
  
219,152
161,573

  
219,153
161,574


Page 1

 
USL A LTD (PREVIOUSLY KNOWN AS JPW RES LTD)
REGISTERED NUMBER: 12558926

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 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: 




J P Wesenberg
Director

Date: 28 January 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
USL A LTD (PREVIOUSLY KNOWN AS JPW RES LTD)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

USL A Ltd (previously known as JPW Res Ltd) is a private company limited by shares incorporated in England and Wales. The registered office address is 2 Communications Road, Greenham Business Park, Newbury, Berkshire, RG19 6AB. 

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

 
2.2

Revenue

Turnover represents rents receivable during the year.

 
2.3

Operating leases: the Company as lessor

Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.

Amounts paid and payable as an incentive to sign an operating lease are recognised as a reduction to income over the lease term on a straight-line basis, unless another systematic basis is representative of the time pattern over which the lessor's benefit from the leased asset is diminished.

 
2.4

Borrowing costs

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

 
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

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.

Page 3

 
USL A LTD (PREVIOUSLY KNOWN AS JPW RES LTD)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

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
-
25%
Reducing balance method
Computer equipment
-
25%
Reducing balance method

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.

 
2.7

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.

 
2.8

Valuation of investments

Investments are measured at cost less accumulated impairment.

 
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.

 
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.

 
2.12

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.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes
Page 4

 
USL A LTD (PREVIOUSLY KNOWN AS JPW RES LTD)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.12
Financial instruments (continued)

party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) 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 debtors due with the operating cycle fall into this category of financial instruments.


3.


Employees




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


4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


Additions
5,646
1,149
6,795



At 31 March 2024

5,646
1,149
6,795



Depreciation


Charge for the year on owned assets
591
120
711



At 31 March 2024

591
120
711



Net book value



At 31 March 2024
5,055
1,029
6,084



At 31 March 2023
-
-
-

Page 5

 
USL A LTD (PREVIOUSLY KNOWN AS JPW RES LTD)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Fixed asset investments





Unlisted investments

£





At 1 April 2023
56,881


Disposals
(56,881)



At 31 March 2024
-





6.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
3,429,801


Additions at cost
19,305



At 31 March 2024
3,449,106

The Director, J P Wesenberg, assessed the value of freehold property held at the period end and does not believe there has been a material change in value since acquisition.





7.


Debtors

2024
2023
£
£


Other debtors
960,122
6,252



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
92,134
629,438


Page 6

 
USL A LTD (PREVIOUSLY KNOWN AS JPW RES LTD)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Creditors: amounts falling due within one year

2024
2023
£
£

Corporation tax
13,589
15,417

Other creditors
1,605,527
1,220,527

Accruals and deferred income
4,472
2,260

1,623,588
1,238,204



10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
1,078,034
1,078,034

Amounts owed to group undertakings
1,586,671
1,644,560

2,664,705
2,722,594



11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£




Amounts falling due after more than 5 years

Bank loans
1,078,034
1,078,034

1,078,034
1,078,034


The bank loans are secured against the investment properties. Interest is charged at 3.10% and 4.34% per annum and no principle amounts are expected to be repaid within the next 5 years.


12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) ordinary shares of £0.01 each
1
1


Page 7

 
USL A LTD (PREVIOUSLY KNOWN AS JPW RES LTD)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

13.


Related party transactions

The Company has taken advantage of the exemption available per paragraph 33.1A of FRS whereby it has not disclosed transactions with the ultimate parent company or any wholly own subsidiary of the group.


14.


Controlling party

The Company's parent is Urban Storage & Living Ltd , which is incorporated in England and Wales, owning 100% of the share capital with full voting rights.


Page 8