Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-312024-01-01false11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12426458 2024-01-01 2024-12-31 12426458 2023-01-01 2023-12-31 12426458 2024-12-31 12426458 2023-12-31 12426458 c:Director1 2024-01-01 2024-12-31 12426458 d:Buildings d:ShortLeaseholdAssets 2024-01-01 2024-12-31 12426458 d:Buildings d:ShortLeaseholdAssets 2024-12-31 12426458 d:Buildings d:ShortLeaseholdAssets 2023-12-31 12426458 d:FurnitureFittings 2024-01-01 2024-12-31 12426458 d:FurnitureFittings 2024-12-31 12426458 d:FurnitureFittings 2023-12-31 12426458 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 12426458 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 12426458 d:CurrentFinancialInstruments 2024-12-31 12426458 d:CurrentFinancialInstruments 2023-12-31 12426458 d:Non-currentFinancialInstruments 2024-12-31 12426458 d:Non-currentFinancialInstruments 2023-12-31 12426458 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 12426458 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 12426458 d:ShareCapital 2024-12-31 12426458 d:ShareCapital 2023-12-31 12426458 d:RetainedEarningsAccumulatedLosses 2024-12-31 12426458 d:RetainedEarningsAccumulatedLosses 2023-12-31 12426458 c:OrdinaryShareClass1 2024-01-01 2024-12-31 12426458 c:OrdinaryShareClass1 2024-12-31 12426458 c:FRS102 2024-01-01 2024-12-31 12426458 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 12426458 c:FullAccounts 2024-01-01 2024-12-31 12426458 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 12426458 2 2024-01-01 2024-12-31 12426458 e:PoundSterling 2024-01-01 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12426458










NOREEN LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
NOREEN LTD
REGISTERED NUMBER: 12426458

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
256,757
50,434

Current assets
  

Debtors: amounts falling due after more than one year
 5 
120,000
120,000

Debtors: amounts falling due within one year
 5 
44,619
22,566

Cash at bank and in hand
  
113,810
13,699

  
278,429
156,265

Creditors: amounts falling due within one year
 6 
(553,151)
(213,548)

Net current liabilities
  
 
 
(274,722)
 
 
(57,283)

  

Net liabilities
  
(17,965)
(6,849)


Capital and reserves
  

Called up share capital 
 7 
1,000
1,000

Profit and loss account
  
(18,965)
(7,849)

  
(17,965)
(6,849)


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 his 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 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: 



H Isa
Director

Date: 2 April 2025

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
NOREEN LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Noreen Ltd is a private company, limited by shares, and is incorporated in England and Wales. The address of its registered office is 1501, 4 Merchant Square, Harbet Road, London, W2 1AP.
The company's functional and presentational currency is Pounds Sterling (GBP).

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 a going concern basis which assumes that the company will continue in existence for the forseeable future, being a period of at least twelve months from the date of approval of the financial statements.
The parent company intends to maintain their financial support of the company, by deferment of the amounts due to them and by other means.
The director is therefore satisfied that the company will have sufficient resources to enable it to continue in existence for the foreseeable future, and that it is therefore appropriate to prepare the financial statements on a going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 2

 
NOREEN LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

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

 
2.6

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 corporation 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.


 
2.7

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.

Depreciation is provided on the following basis:

Leasehold property and improvements
-
15 years straight-line from lease commencement
Fixtures and fittings
-
20% 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.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. 

Page 3

 
NOREEN LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
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. 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.

 
2.10

Creditors

Short-term creditors are measured at the transaction price.


3.


Employees

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


4.


Tangible fixed assets





Leasehold property and Improvements
Fixtures and fittings
Total

£
£
£



Cost


At 1 January 2024
51,055
-
51,055


Additions
133,669
75,512
209,181



At 31 December 2024

184,724
75,512
260,236



Depreciation


At 1 January 2024
621
-
621


Charge for the year
(621)
3,479
2,858



At 31 December 2024

-
3,479
3,479



Net book value



At 31 December 2024
184,724
72,033
256,757



At 31 December 2023
50,434
-
50,434


5.


Debtors

2024
2023
£
£

Due after more than one year
Page 4

 
NOREEN LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.Debtors (continued)


Other debtors
120,000
120,000


2024
2023
£
£

Due within one year

Trade debtors
-
4,200

Amounts owed by group undertakings
25,195
-

Other debtors
19,424
18,366

44,619
22,566



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
6,866
1,800

Amounts owed to group undertakings
543,836
209,816

Accruals and deferred income
2,449
1,932

553,151
213,548



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,000 Ordinary shares of £1 each
1,000
1,000



8.


Contingent liabilities

The company is a member of a value added tax group of companies. It is thereby jointly and severally liable for any value added tax liabilities incurred by members of the group. As at 31 December 2024 the extent of this liability was £Nil (2023 - £Nil).


9.


Related party transactions

The company has taken advantage of the exemption afforded by FRS 102 not to disclose transactions or balances with other wholly owned members of the group.

Page 5

 
NOREEN LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

10.


Ultimate parent company

The immediate and ultimate parent company is Sea Gate Real Estate W.L.L., a company registered in Kingdom of Bahrain. The address of its registered office is 136, 83 Jeblat Hibshi, Block, 433, Bahrain, 20575.


Page 6