Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-311falsetrue2023-04-01The principal activity of the company continued to be that of property investment.1trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01908267 2023-04-01 2024-03-31 01908267 2022-04-01 2023-03-31 01908267 2024-03-31 01908267 2023-03-31 01908267 c:Director1 2023-04-01 2024-03-31 01908267 d:FreeholdInvestmentProperty 2024-03-31 01908267 d:FreeholdInvestmentProperty 2023-03-31 01908267 d:CurrentFinancialInstruments 2024-03-31 01908267 d:CurrentFinancialInstruments 2023-03-31 01908267 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 01908267 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 01908267 d:ShareCapital 2024-03-31 01908267 d:ShareCapital 2023-03-31 01908267 d:RetainedEarningsAccumulatedLosses 2024-03-31 01908267 d:RetainedEarningsAccumulatedLosses 2023-03-31 01908267 c:FRS102 2023-04-01 2024-03-31 01908267 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 01908267 c:FullAccounts 2023-04-01 2024-03-31 01908267 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01908267 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 01908267










UNDERCRANE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
UNDERCRANE LIMITED
REGISTERED NUMBER: 01908267

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
508,209
508,209

  
508,209
508,209

Current assets
  

Debtors: amounts falling due within one year
 5 
295,450
2

Cash at bank and in hand
  
253,434
226,439

  
548,884
226,441

Creditors: amounts falling due within one year
 6 
(101,592)
(26,969)

Net current assets
  
 
 
447,292
 
 
199,472

Total assets less current liabilities
  
955,501
707,681

  

Net assets
  
955,501
707,681


Capital and reserves
  

Called up share capital 
  
5
5

Profit and loss account
  
955,496
707,676

  
955,501
707,681


Page 1

 
UNDERCRANE LIMITED
REGISTERED NUMBER: 01908267
    
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 her 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 by: 



R Gerrard
Director
Date: 15 March 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 2

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

1.


General information

Undercrane Limited (01908267) is a private company limited by shares and incorporated in England and Wales. The registered office is 14th Floor, 33 Cavendish Square, London, W1G 0PW.

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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue represents rents and service charges receivable recognised in the period in which the services are provided in accordance with the rental agreement.

 
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

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.

 
2.5

Investment property

Investment property is carried at fair value determined annually by the director 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.

 
2.6

Debtors

Short-term debtors are measured at transaction price, 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.

Page 3

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

2.Accounting policies (continued)

 
2.8

Creditors

Short-term creditors are measured at the transaction price.

 
2.9

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

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is 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 payments 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 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.

Page 4

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

2.Accounting policies (continued)


2.9
Financial instruments (continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.10

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.


3.


Employees

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


4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
508,209



At 31 March 2024
508,209







5.


Debtors

2024
2023
£
£


Trade debtors
9,723
-

Other debtors
282,581
2

Prepayments and accrued income
3,146
-

295,450
2


Page 5

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

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
286
-

Corporation tax
86,376
17,585

Other taxation and social security
2,318
-

Other creditors
608
6,882

Accruals and deferred income
12,004
2,502

101,592
26,969



7.


Related party transactions

Included within other debtors due within one year is £282,581 (2023 - £6,882 due to the director) due from the director. This is interest free and repayable on demand.
Included within other creditors due within one year is £608 due from a company under common control (2023 - £Nil). This is interest free and repayable on demand.

 
Page 6