Caseware UK (AP4) 2024.0.164 2024.0.164 2024-03-312024-03-31Other letting and operating of own or leased real estatefalse22023-04-01false2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10676435 2023-04-01 2024-03-31 10676435 2022-04-01 2023-03-31 10676435 2024-03-31 10676435 2023-03-31 10676435 c:Director1 2023-04-01 2024-03-31 10676435 d:FurnitureFittings 2023-04-01 2024-03-31 10676435 d:FurnitureFittings 2024-03-31 10676435 d:FurnitureFittings 2023-03-31 10676435 d:FreeholdInvestmentProperty 2024-03-31 10676435 d:FreeholdInvestmentProperty 2023-03-31 10676435 d:CurrentFinancialInstruments 2024-03-31 10676435 d:CurrentFinancialInstruments 2023-03-31 10676435 d:Non-currentFinancialInstruments 2024-03-31 10676435 d:Non-currentFinancialInstruments 2023-03-31 10676435 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 10676435 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10676435 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 10676435 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 10676435 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 10676435 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 10676435 d:ShareCapital 2024-03-31 10676435 d:ShareCapital 2023-03-31 10676435 d:RetainedEarningsAccumulatedLosses 2024-03-31 10676435 d:RetainedEarningsAccumulatedLosses 2023-03-31 10676435 c:OrdinaryShareClass1 2023-04-01 2024-03-31 10676435 c:OrdinaryShareClass1 2024-03-31 10676435 c:OrdinaryShareClass2 2023-04-01 2024-03-31 10676435 c:OrdinaryShareClass2 2024-03-31 10676435 c:FRS102 2023-04-01 2024-03-31 10676435 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 10676435 c:FullAccounts 2023-04-01 2024-03-31 10676435 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10676435 2 2023-04-01 2024-03-31 10676435 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10676435









HERWOOD ESTATES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
HERWOOD ESTATES LIMITED
REGISTERED NUMBER: 10676435

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 5 
776,243
776,243

  
776,243
776,243

Current assets
  

Debtors: amounts falling due within one year
 6 
25,018
26,884

Cash at bank and in hand
 7 
14,799
71,419

  
39,817
98,303

Creditors: amounts falling due within one year
 8 
(368,202)
(5,974)

Net current (liabilities)/assets
  
 
 
(328,385)
 
 
92,329

Total assets less current liabilities
  
447,858
868,572

Creditors: amounts falling due after more than one year
 9 
(463,594)
(871,094)

  

Net liabilities
  
(15,736)
(2,522)


Capital and reserves
  

Called up share capital 
 11 
300
300

Profit and loss account
  
(16,036)
(2,822)

  
(15,736)
(2,522)


Page 1

 
HERWOOD ESTATES LIMITED
REGISTERED NUMBER: 10676435
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 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: 




E J Smith
Director

Date: 26 March 2025

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

Page 2

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

1.


General information

Herwood Estates Limited is a private company limited by shares and incorporated in England and Wales. The registered address is Herwood House, Darlington Road, Durham, DH1 3SS. The principal activity of the company is that of property investment and rental.

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

Despite the loss arising and the net liability position, the directors' believe that the preparing of the accounts on a going concern basis is still appropriate due to the continued support financial support from the directors.

 
2.3

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.

 
2.4

Interest income

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

 
2.5

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

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

2.Accounting policies (continued)

 
2.6

Borrowing costs

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

 
2.7

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.


 
2.8

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
-
20%
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.

 
2.9

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.

 
2.10

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.

Page 4

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

2.Accounting policies (continued)

 
2.11

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.

 
2.12

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.


3.


Employees




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


4.


Tangible fixed assets





Fixtures & fittings

£



Cost or valuation


At 1 April 2023
7,910



At 31 March 2024

7,910



Depreciation


At 1 April 2023
7,910



At 31 March 2024

7,910



Net book value



At 31 March 2024
-



At 31 March 2023
-

Page 5

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

5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
776,243



At 31 March 2024
776,243

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




Page 6

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

6.


Debtors

2024
2023
£
£


Other debtors
25,018
25,000

Prepayments and accrued income
-
1,884

25,018
26,884



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
14,799
71,419

14,799
71,419



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
362,500
-

Corporation tax
-
341

Accruals and deferred income
5,702
5,633

368,202
5,974



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
-
362,500

Other creditors
463,594
508,594

463,594
871,094


The bank loan is secured by way of a fixed and floating charge over all plant and machinery, fixtures and fittings, chattels, benefits in respect of insurances, rents received from any lease of the investment property and the goodwill of the business. 

Page 7

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

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
362,500
-


362,500
-


Amounts falling due 2-5 years

Bank loans
-
362,500


362,500
362,500



11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



294 Ordinary 1 GBP shares shares of £1.00 each
294
294
6 Ordinary "A" class shares shares of £1.00 each
6
6

300

300



12.


Related party transactions

Included in creditors due in more than one year is a balance owed to the directors amounting to £463,594 (2023: £ 508,594).


13.


Controlling party

The ultimate controlling party is E Smith, a director, by virtue of a majority shareholding of the company's share capital.

 
Page 8