Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-292024-03-2932023-03-30falseNo description of principal activity3truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02164936 2023-03-30 2024-03-29 02164936 2022-03-30 2023-03-29 02164936 2024-03-29 02164936 2023-03-29 02164936 c:Director2 2023-03-30 2024-03-29 02164936 d:FurnitureFittings 2023-03-30 2024-03-29 02164936 d:FurnitureFittings 2024-03-29 02164936 d:FurnitureFittings 2023-03-29 02164936 d:FreeholdInvestmentProperty 2024-03-29 02164936 d:FreeholdInvestmentProperty 2023-03-29 02164936 d:CurrentFinancialInstruments 2024-03-29 02164936 d:CurrentFinancialInstruments 2023-03-29 02164936 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-29 02164936 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-29 02164936 d:ShareCapital 2024-03-29 02164936 d:ShareCapital 2023-03-29 02164936 d:InvestmentPropertiesRevaluationReserve 2023-03-30 2024-03-29 02164936 d:InvestmentPropertiesRevaluationReserve 2024-03-29 02164936 d:InvestmentPropertiesRevaluationReserve 2023-03-29 02164936 d:RetainedEarningsAccumulatedLosses 2023-03-30 2024-03-29 02164936 d:RetainedEarningsAccumulatedLosses 2024-03-29 02164936 d:RetainedEarningsAccumulatedLosses 2023-03-29 02164936 c:FRS102 2023-03-30 2024-03-29 02164936 c:AuditExempt-NoAccountantsReport 2023-03-30 2024-03-29 02164936 c:FullAccounts 2023-03-30 2024-03-29 02164936 c:PrivateLimitedCompanyLtd 2023-03-30 2024-03-29 02164936 2 2023-03-30 2024-03-29 02164936 d:AcceleratedTaxDepreciationDeferredTax 2024-03-29 02164936 d:AcceleratedTaxDepreciationDeferredTax 2023-03-29 02164936 e:PoundSterling 2023-03-30 2024-03-29 iso4217:GBP xbrli:pure

Registered number: 02164936










WILLOW MANAGEMENT LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 MARCH 2024

 
WILLOW MANAGEMENT LIMITED
REGISTERED NUMBER: 02164936

BALANCE SHEET
AS AT 29 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 5 
650,000
650,000

  
650,000
650,000

Current assets
  

Debtors: amounts falling due within one year
 6 
609,905
610,015

Cash at bank and in hand
 7 
16,366
33,158

  
626,271
643,173

Creditors: amounts falling due within one year
 8 
(273,457)
(245,191)

Net current assets
  
 
 
352,814
 
 
397,982

Total assets less current liabilities
  
1,002,814
1,047,982

  

Net assets
  
1,002,814
1,047,982


Capital and reserves
  

Called up share capital 
  
25,000
25,000

Investment property reserve
 10 
302,913
302,913

Profit and loss account
 10 
674,901
720,069

  
1,002,814
1,047,982


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 profit and loss account 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 18 March 2025.

Page 1

 
WILLOW MANAGEMENT LIMITED
REGISTERED NUMBER: 02164936
    
BALANCE SHEET (CONTINUED)
AS AT 29 MARCH 2024




T. J. Cowley
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
WILLOW MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 MARCH 2024

1.


General information

The company is a private company limited by shares, which is incorporated under the Companies Act 2006 and registered in England (no. 02164936). The address of the registered office is 43 Canning Street, Liverpool, L8 7NN.
These financial statements present information about the company as an individual undertaking; it is not a member of a group of companies. The principal activity of the company is of property rental and management.

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.

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.

Page 3

 
WILLOW MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 MARCH 2024

2.Accounting policies (continued)

 
2.5

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 balance sheet 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 balance sheet 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 balance sheet date.


 
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.

Depreciation 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:

Fixtures & fittings
-
25%
straight line

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.

Page 4

 
WILLOW MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 MARCH 2024

2.Accounting policies (continued)

 
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

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.

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

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.

Page 5

 
WILLOW MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 MARCH 2024

3.


Employees

2024
2023
£
£

Wages and salaries
66,458
58,774

Social security costs
3,165
3,333

69,623
62,107


The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


4.


Tangible fixed assets





Fixtures & fittings

£



Cost or valuation


At 30 March 2023
47,616



At 29 March 2024

47,616



Depreciation


At 30 March 2023
47,616



At 29 March 2024

47,616



Net book value



At 29 March 2024
-



At 29 March 2023
-

Page 6

 
WILLOW MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 MARCH 2024

5.


Investment property


Freehold investment property

£



Valuation


At 30 March 2023
650,000



At 29 March 2024
650,000

The 2024 valuations were made by Mr N G Cowley, a director, on an open market value for existing use basis.

2024
2023
£
£

Revaluation reserves


At 30 March 2023
302,913
302,913

At 29 March 2024
302,913
302,913



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



Page 7

 
WILLOW MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 MARCH 2024

6.


Debtors

2024
2023
£
£


Other debtors
582,478
582,588

Deferred taxation
27,427
27,427

609,905
610,015



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
16,366
33,158

16,366
33,158



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other taxation and social security
15,383
5,044

Other creditors
254,324
236,397

Accruals and deferred income
3,750
3,750

273,457
245,191


Page 8

 
WILLOW MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 MARCH 2024

9.


Deferred taxation




2024


£






At beginning of year
27,427



At end of year
27,427

The deferred tax asset is made up as follows:

2024
2023
£
£


Accelerated capital allowances
27,427
27,427

27,427
27,427


10.


Reserves

Investment property revaluation reserve

Relates to the revaluation of freehold and leasehold property in prior periods.

Profit & loss account

Retained earnings include all current and prior period retained profits and losses less dividends paid.

 
Page 9