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Registered number: 02824397









ST. ANDREWS PARK MANAGEMENT COMPANY LIMITED

FILLETED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 SEPTEMBER 2024







































 
ST. ANDREWS PARK MANAGEMENT COMPANY LIMITED
REGISTERED NUMBER: 02824397

STATEMENT OF FINANCIAL POSITION
AS AT 29 SEPTEMBER 2024

Restated
2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
120,000
120,000

  
120,000
120,000

Current assets
  

Debtors: amounts falling due within one year
 5 
36,926
45,854

Cash at bank and in hand
  
56,058
43,844

  
92,984
89,698

Creditors: amounts falling due within one year
 6 
(92,961)
(89,675)

Net current assets
  
 
 
23
 
 
23

Total assets less current liabilities
  
120,023
120,023

Creditors: amounts falling due after more than one year
 7 
(23)
(23)

Provisions for liabilities
  

Deferred tax
  
(30,000)
(30,000)

  
 
 
(30,000)
 
 
(30,000)

Net assets
  
90,000
90,000

Page 1

 
ST. ANDREWS PARK MANAGEMENT COMPANY LIMITED
REGISTERED NUMBER: 02824397
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 29 SEPTEMBER 2024

2024
2023
Note
£
£

Capital and reserves
  

Revaluation reserve
  
90,000
90,000

  
90,000
90,000


The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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: 



N C Handley-Howorth
Director

Date: 31 March 2025

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

Page 2

 
ST. ANDREWS PARK MANAGEMENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 SEPTEMBER 2024

1.


General information

St Andrews Park Management Company Limited is a private company limited by shares and is incorporated in England and Wales. The address of its registered office is The Lowlands Drayton, Norwich, Norfolk, NR8 6HA.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

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. 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.

  
2.3

Investment property

Investment property is carried at fair value determined annually 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 Income and Retained Earnings.

 
2.4

Interest income

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

Page 3

 
ST. ANDREWS PARK MANAGEMENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.5

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.


 
2.6

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.

 
2.7

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.

 
2.8

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.

Page 4

 
ST. ANDREWS PARK MANAGEMENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 SEPTEMBER 2024

2.Accounting policies (continued)

 
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

Financial instruments

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Page 5

 
ST. ANDREWS PARK MANAGEMENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 SEPTEMBER 2024

2.Accounting policies (continued)


2.10
Financial instruments (continued)


Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Directors
3
4

Page 6

 
ST. ANDREWS PARK MANAGEMENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 SEPTEMBER 2024

4.


Investment property


Freehold investment property

£



Valuation


At 30 September 2023
120,000



At 29 September 2024
120,000

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

The historical cost of the investment property was £nil.





5.


Debtors

2024
2023
£
£


Trade debtors
16,740
27,540

Other debtors
100
5,575

Prepayments and accrued income
20,086
12,739

36,926
45,854



6.


Creditors: Amounts falling due within one year

2024
Restated 2023
£
£

Trade creditors
19,289
29,949

Other taxation and social security
3,534
-

Other creditors
23,633
17,992

Accruals and deferred income
46,505
41,734

92,961
89,675


Page 7

 
ST. ANDREWS PARK MANAGEMENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 SEPTEMBER 2024

7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Share capital treated as debt
23
23



8.


Share capital


2024
2023
£
£
Shares classified as debt

Allotted, called up and fully paid



2,331 (2023 - 2,331) Ordinary shares of £0.01 each
23.31
23.31



9.


Prior year adjustment

The prior year adjustment arises as a result of the reclassification of a balance of £17,992 previously being presented as a provision. The comparative balances have been restated to present this balance within accruals. There is no affect on the profit or the reserves.


10.


Auditors' information

The auditors' report on the financial statements for the year ended 29 September 2024 was unqualified.

The audit report was signed on 11 April 2025 by Jonathan Moore ACCA (Senior statutory auditor) on behalf of Whitings LLP.

 
Page 8