Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-312023-06-01falseConversion of farm buildings33truetruefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09349229 2023-06-01 2024-05-31 09349229 2022-06-01 2023-05-31 09349229 2024-05-31 09349229 2023-05-31 09349229 c:Director1 2023-06-01 2024-05-31 09349229 d:FreeholdInvestmentProperty 2024-05-31 09349229 d:FreeholdInvestmentProperty 2023-05-31 09349229 d:CurrentFinancialInstruments 2024-05-31 09349229 d:CurrentFinancialInstruments 2023-05-31 09349229 d:Non-currentFinancialInstruments 2024-05-31 09349229 d:Non-currentFinancialInstruments 2023-05-31 09349229 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 09349229 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 09349229 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 09349229 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 09349229 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-05-31 09349229 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-05-31 09349229 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-05-31 09349229 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-05-31 09349229 d:ShareCapital 2024-05-31 09349229 d:ShareCapital 2023-05-31 09349229 d:InvestmentPropertiesRevaluationReserve 2023-06-01 2024-05-31 09349229 d:InvestmentPropertiesRevaluationReserve 2024-05-31 09349229 d:InvestmentPropertiesRevaluationReserve 2023-05-31 09349229 d:RetainedEarningsAccumulatedLosses 2023-06-01 2024-05-31 09349229 d:RetainedEarningsAccumulatedLosses 2024-05-31 09349229 d:RetainedEarningsAccumulatedLosses 2023-05-31 09349229 d:TaxLossesCarry-forwardsDeferredTax 2024-05-31 09349229 d:TaxLossesCarry-forwardsDeferredTax 2023-05-31 09349229 d:OtherDeferredTax 2024-05-31 09349229 d:OtherDeferredTax 2023-05-31 09349229 c:OrdinaryShareClass1 2023-06-01 2024-05-31 09349229 c:OrdinaryShareClass1 2024-05-31 09349229 c:OrdinaryShareClass1 2023-05-31 09349229 c:FRS102 2023-06-01 2024-05-31 09349229 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 09349229 c:FullAccounts 2023-06-01 2024-05-31 09349229 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 09349229 2 2023-06-01 2024-05-31 09349229 6 2023-06-01 2024-05-31 09349229 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 09349229










RAE.W (LLANMARTIN) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
RAE.W (LLANMARTIN) LIMITED
REGISTERED NUMBER: 09349229

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 5 
200
200

Investment property
 6 
360,000
360,000

  
360,200
360,200

Current assets
  

Debtors: amounts falling due within one year
 7 
111,348
113,358

Cash at bank and in hand
 8 
1,382
281

  
112,730
113,639

Creditors: amounts falling due within one year
 9 
(69,064)
(57,494)

Net current assets
  
 
 
43,666
 
 
56,145

Total assets less current liabilities
  
403,866
416,345

Creditors: amounts falling due after more than one year
 10 
(27,609)
(32,879)

Provisions for liabilities
  

Deferred tax
 12 
(36,681)
(38,468)

  
 
 
(36,681)
 
 
(38,468)

Net assets
  
339,576
344,998


Capital and reserves
  

Called up share capital 
 13 
200
200

Investment property reserve
 14 
130,281
130,281

Profit and loss account
 14 
209,095
214,517

  
339,576
344,998


Page 1

 
RAE.W (LLANMARTIN) LIMITED
REGISTERED NUMBER: 09349229
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 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 9 April 2025.




Mr R J Willett
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
RAE.W (LLANMARTIN) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

RAE.W (Llanmartin) Limited, 09349229, is a private limited company limited by shares, incorporated in England and Wales, with its registered office and principal place of business at Church Farm, Llanmartin, Newport, Gwent, NP18 2EB. The principal activity of the Company is that of letting owned property. 

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

Interest income

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

 
2.3

Borrowing costs

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

 
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 balance sheet 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 balance sheet 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 balance sheet date.


Page 3

 
RAE.W (LLANMARTIN) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.5

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.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

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

 
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

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.

 
2.9

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.

 
2.10

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.

Page 4

 
RAE.W (LLANMARTIN) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

3.


Judgements in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations or future events that are believed to be reasonable under the circumstances.


4.


Employees




The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 June 2023
200



At 31 May 2024
200




Page 5

 
RAE.W (LLANMARTIN) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

6.


Investment property


Freehold investment property

£



Valuation


At 1 June 2023
360,000



At 31 May 2024
360,000

The 2024 valuations were made by Mr R J Willett, on an open market value for existing use basis.

2024
2023
£
£

Revaluation reserves


At 1 June 2023
130,281
130,281

At 31 May 2024
130,281
130,281



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:



Page 6

 
RAE.W (LLANMARTIN) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

7.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
111,348
112,375

Other debtors
-
735

Tax recoverable
-
248

111,348
113,358



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,382
281

1,382
281



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
6,162
6,007

Trade creditors
2,130
1,915

Corporation tax
47,525
47,773

Other creditors
11,243
-

Accruals and deferred income
2,004
1,799

69,064
57,494



10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
27,609
32,879

27,609
32,879


Page 7

 
RAE.W (LLANMARTIN) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
6,162
6,010


6,162
6,010

Amounts falling due 1-2 years

Bank loans
6,318
6,162


6,318
6,162

Amounts falling due 2-5 years

Bank loans
21,290
26,716


21,290
26,716


33,770
38,888



12.


Deferred taxation




2024


£






At beginning of year
(38,468)


Charged to profit or loss
1,787



At end of year
(36,681)

Page 8

 
RAE.W (LLANMARTIN) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
 
12.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Tax losses carried forward
1,787
-

Tax on revaluation of investment property
(38,468)
(38,468)

(36,681)
(38,468)

Page 9

 
RAE.W (LLANMARTIN) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

13.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



200 (2023 - 200) Ordinary shares of £1.00 each
200
200



14.


Reserves

Investment property revaluation reserve

The revaluation reserve represents unrealised gains from investment property following increase of balance sheet value to Market Value, less the deferred tax on the surplus.

Profit and loss account

The profit & loss account consists of the accumulated profits of the Company, less all distributions made to shareholders.

 
Page 10