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Registered number: 14213572









50-52 CALVERLEY ROAD LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
50-52 CALVERLEY ROAD LIMITED
REGISTERED NUMBER: 14213572

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
  
1,832,549
1,832,549

Debtors: amounts falling due within one year
 4 
278
2,909

  
1,832,827
1,835,458

Creditors: amounts falling due within one year
 5 
(1,854,042)
(1,911,397)

Net current liabilities
  
 
 
(21,215)
 
 
(75,939)

Total assets less current liabilities
  
(21,215)
(75,939)

  

Net liabilities
  
(21,215)
(75,939)


Capital and reserves
  

Called up share capital 
 6 
100
100

Profit and loss account
  
(21,315)
(76,039)

  
(21,215)
(75,939)


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 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 by: 






R B Gershon
Director

Date: 25 March 2025

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

Page 1

 
50-52 CALVERLEY ROAD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

The Company is a private company limited by shares and is incorporated in England and Wales.
The principal activity of the Company is that of property development.
The Registered Office address is 35 Ballards Lane, London, N3 1XW.

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

Going concern

The financial statements have been prepared on the going concern basis as in the opinion of the directors the company will generate future income sufficient to cover the liabilities of the company.
The company has made a profit in the year and relies on the support of a group entity which has confirmed its intention to provide support for a period of twelve-months from the date of signing of the accounts.Therefore, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

 
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

Stocks

Stock comprises development land and property stated at the lower of cost and selling price less costs to complete and sell. Cost is based on the cost of purchase.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.


 
2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
 
Page 2

 
50-52 CALVERLEY ROAD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)


2.5
Financial instruments (continued)

(i) Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.
Such assets are subsequently carried at amortised cost using the effective interest method. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
(iii) Offsetting
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees




The average monthly number of employees, including directors, during the year was 3 (2023 - 4).

Page 3

 
50-52 CALVERLEY ROAD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


Debtors

2024
2023
£
£


Called up share capital not paid
49
49

Prepayments and accrued income
229
2,860

278
2,909



5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
6,548
-

Amounts owed to group undertakings
1,804,710
1,864,877

Other taxation and social security
4,422
7,965

Accruals and deferred income
38,362
38,555

1,854,042
1,911,397


Amounts due from group companies are unsecured, bears interest at 12% and is repayable on demand.


6.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



7.Other financial commitments

A loan in the parent entity is secured by a charge over the property held in this company. 


8.


Related party transactions

During the year, the Company paid £24,000 (2023: £20,456) to a director for consulting services. The balance at year end owing to this director was £2,000 (2023: £nil).
Included within other creditors is an amount of £1,804,710 (2023: £1,864,877) due to a shareholder. Interest of £69,019 (2023: £183,018) and management recharges of £26,89 (2023: £7,426) were paid to this shareholder during the year.

Page 4

 
50-52 CALVERLEY ROAD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

9.


Controlling party

The parent undertaking is Tranos (UK) Limited, a company registered in England & Wales.
The registered office and principal place of business is 35 Ballards Lane, London, N3 1XW.


10.


Auditors' information

The auditors' report on the financial statements for the year ended 31 July 2024 was unqualified.

The audit report was signed on 25 March 2025 by Nick Bishop FCA (Senior Statutory Auditor) on behalf of BKL LLP.

 
Page 5