Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30false2023-07-01falseNo description of principal activity44falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03053526 2023-07-01 2024-06-30 03053526 2022-07-01 2023-06-30 03053526 2024-06-30 03053526 2023-06-30 03053526 2022-07-01 03053526 c:Director3 2023-07-01 2024-06-30 03053526 d:FurnitureFittings 2023-07-01 2024-06-30 03053526 d:FurnitureFittings 2024-06-30 03053526 d:FurnitureFittings 2023-06-30 03053526 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 03053526 d:OfficeEquipment 2023-07-01 2024-06-30 03053526 d:OfficeEquipment 2024-06-30 03053526 d:OfficeEquipment 2023-06-30 03053526 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 03053526 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 03053526 d:FreeholdInvestmentProperty 2024-06-30 03053526 d:FreeholdInvestmentProperty 2023-06-30 03053526 d:CurrentFinancialInstruments 2024-06-30 03053526 d:CurrentFinancialInstruments 2023-06-30 03053526 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 03053526 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 03053526 d:ShareCapital 2024-06-30 03053526 d:ShareCapital 2023-06-30 03053526 d:InvestmentPropertiesRevaluationReserve 2024-06-30 03053526 d:InvestmentPropertiesRevaluationReserve 2023-06-30 03053526 d:RetainedEarningsAccumulatedLosses 2024-06-30 03053526 d:RetainedEarningsAccumulatedLosses 2023-06-30 03053526 c:FRS102 2023-07-01 2024-06-30 03053526 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 03053526 c:FullAccounts 2023-07-01 2024-06-30 03053526 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 03053526 d:OtherDeferredTax 2024-06-30 03053526 d:OtherDeferredTax 2023-06-30 03053526 2 2023-07-01 2024-06-30 03053526 6 2023-07-01 2024-06-30 03053526 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 03053526










LONDON AND COLORADO LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

 
LONDON AND COLORADO LIMITED
REGISTERED NUMBER:03053526

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
12,925
6,762

Investments
 5 
63,701
63,701

Investment property
 6 
5,850,000
5,850,000

  
5,926,626
5,920,463

Current assets
  

Debtors: amounts falling due within one year
 7 
165,101
266,832

Cash at bank and in hand
  
574,344
360,937

  
739,445
627,769

Creditors: amounts falling due within one year
 8 
(636,956)
(614,143)

Net current assets
  
 
 
102,489
 
 
13,626

Total assets less current liabilities
  
6,029,115
5,934,089

Provisions for liabilities
  

Deferred tax
 9 
(1,073,404)
(1,073,404)

Net assets
  
4,955,711
4,860,685


Capital and reserves
  

Called up share capital 
  
300,000
300,000

Investment property reserve
  
4,105,894
4,105,894

Profit and loss account
  
549,817
454,791

  
4,955,711
4,860,685


Page 1

 
LONDON AND COLORADO LIMITED
REGISTERED NUMBER:03053526
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 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 on 27 March 2025.




J E Nadler
Director

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

Page 2

 
LONDON AND COLORADO LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

London and Colorado Limited is a private company limited by shares (company number: 03053526), incorporated in England and Wales. Its registered office address is 10 Queen Street Place, London, EC4R 1AG.
The principal activity of the company is that of property development.

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 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. 
Revenue represents rental income due less payments received in advance.

 
2.3

Interest income

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

Page 3

 
LONDON AND COLORADO LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 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, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25% on cost
Office equipment
-
25% on cost

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

 
LONDON AND COLORADO LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

  
2.6

Investment property

Investment property is carried at fair value determined annually by directors 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 the Statement of Comprehensive Income.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
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.

 
2.10

Creditors

Short term creditors are measured at the transaction price.

 
2.11

Financial instruments

Enter text here - user input
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 and loans to related parties. 


3.


Employees

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

Page 5

 
LONDON AND COLORADO LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 July 2023
70,779
40,800
111,579


Additions
6,650
2,203
8,853



At 30 June 2024

77,429
43,003
120,432



Depreciation


At 1 July 2023
68,658
36,159
104,817


Charge for the year
1,189
1,501
2,690



At 30 June 2024

69,847
37,660
107,507



Net book value



At 30 June 2024
7,582
5,343
12,925



At 30 June 2023
2,121
4,641
6,762


5.


Fixed asset investments





Investments in subsidiary companies
Listed investments
Total

£
£
£



Cost or valuation


At 1 July 2023
3,701
60,000
63,701



At 30 June 2024
3,701
60,000
63,701




Page 6

 
LONDON AND COLORADO LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Investment property


Freehold investment property

£



Valuation


At 1 July 2023
5,850,000



At 30 June 2024
5,850,000

The 2024 valuations were made by directors, based on a 2023 valuation by Molyneux Rose Chartered Surveyors, on an open market value for existing use basis.





7.


Debtors

2024
2023
£
£


Trade debtors
-
74,670

Amounts owed by group undertakings
79,493
98,400

Other debtors
81,812
88,705

Prepayments and accrued income
3,796
5,057

165,101
266,832



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
634
38

Other taxation and social security
15,147
6,284

Other creditors
531,160
531,160

Accruals and deferred income
90,015
76,661

636,956
614,143



9.


Deferred taxation

Page 7

 
LONDON AND COLORADO LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
 
9.Deferred taxation (continued)




2024
2023


£

£






At beginning of year
(1,073,405)
(1,035,905)


Charged to profit or loss
-
(37,500)



At end of year
(1,073,405)
(1,073,405)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Capital gains
(1,073,405)
(1,073,405)


10.


Related party transactions

Inctuded within other creditors due within one year is a shareholders' loan of £531,140 (2023 - £531,140). The loan bears interest at 11% per annum and is repayable on demand.

 
Page 8