Caseware UK (AP4) 2024.0.164 2024.0.164 2024-03-312024-03-31222023-04-01falseNo description of principal activitytruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 06477592 2023-04-01 2024-03-31 06477592 2022-04-01 2023-03-31 06477592 2024-03-31 06477592 2023-03-31 06477592 c:Director1 2023-04-01 2024-03-31 06477592 d:OfficeEquipment 2023-04-01 2024-03-31 06477592 d:ComputerEquipment 2023-04-01 2024-03-31 06477592 d:ComputerEquipment 2024-03-31 06477592 d:ComputerEquipment 2023-03-31 06477592 d:CurrentFinancialInstruments 2024-03-31 06477592 d:CurrentFinancialInstruments 2023-03-31 06477592 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 06477592 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 06477592 d:ShareCapital 2024-03-31 06477592 d:ShareCapital 2023-03-31 06477592 d:RetainedEarningsAccumulatedLosses 2024-03-31 06477592 d:RetainedEarningsAccumulatedLosses 2023-03-31 06477592 c:FRS102 2023-04-01 2024-03-31 06477592 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 06477592 c:FullAccounts 2023-04-01 2024-03-31 06477592 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06477592 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 06477592










FRESH START PROPERTY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
FRESH START PROPERTY LIMITED
REGISTERED NUMBER:06477592

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
  
219,000
219,000

Debtors: amounts falling due within one year
 5 
11,197
7,609

Cash at bank and in hand
  
208,056
169,794

  
438,253
396,403

Creditors: amounts falling due within one year
 6 
(437,952)
(384,838)

Net current assets
  
 
 
301
 
 
11,565

Total assets less current liabilities
  
301
11,565

  

Net assets
  
301
11,565


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
201
11,465

  
301
11,565


Page 1

 
FRESH START PROPERTY LIMITED
REGISTERED NUMBER:06477592
    
STATEMENT OF FINANCIAL POSITION (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 income statement 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: 




................................................
Mr A Murty
Director

Date: 26 March 2025

Page 2

 
FRESH START PROPERTY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Fresh Start Property Limited is a private company limited by shares and incorporated in England within the United Kingdom, company number 06477592.  The address of the registered office is Prospect House, Norwich, NR1 1RE.

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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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

Borrowing costs

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

Page 3

 
FRESH START PROPERTY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

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 reporting 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 reporting 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 reporting date.


 
2.5

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:

Office equipment
-
25% Straight line
Computer equipment
-
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

 
FRESH START PROPERTY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

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.

 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

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 shareholder.


3.


Employees




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

Page 5

 
FRESH START PROPERTY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 April 2023
1,711



At 31 March 2024

1,711



Depreciation


At 1 April 2023
1,711



At 31 March 2024

1,711



Net book value



At 31 March 2024
-



At 31 March 2023
-


5.


Debtors

2024
2023
£
£


Prepayments and accrued income
685
685

Deferred taxation
10,512
6,924

11,197
7,609


Page 6

 
FRESH START PROPERTY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
297,903
244,749

Corporation tax
459
459

Other creditors
136,730
133,570

Accruals and deferred income
2,860
6,060

437,952
384,838


The following liabilities were secured:

2024
2023
£
£



Bank loans
297,903
244,749

297,903
244,749

Details of security provided:

Included in Bank loans are secured creditors of £297,903 (2023:£244,749) secured against stock.

 
Page 7