Caseware UK (AP4) 2023.0.135 2023.0.135 2024-12-312024-12-31false2024-01-01falseBuying and selling of own real estate11trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01870972 2024-01-01 2024-12-31 01870972 2023-01-01 2023-12-31 01870972 2024-12-31 01870972 2023-12-31 01870972 2023-01-01 01870972 1 2024-01-01 2024-12-31 01870972 5 2024-01-01 2024-12-31 01870972 d:Director1 2024-01-01 2024-12-31 01870972 e:FurnitureFittings 2024-01-01 2024-12-31 01870972 e:FurnitureFittings 2024-12-31 01870972 e:FurnitureFittings 2023-12-31 01870972 e:FreeholdInvestmentProperty 2024-01-01 2024-12-31 01870972 e:FreeholdInvestmentProperty 2024-12-31 01870972 e:FreeholdInvestmentProperty 2023-12-31 01870972 e:CurrentFinancialInstruments 2024-12-31 01870972 e:CurrentFinancialInstruments 2023-12-31 01870972 e:CurrentFinancialInstruments e:WithinOneYear 2024-12-31 01870972 e:CurrentFinancialInstruments e:WithinOneYear 2023-12-31 01870972 e:ShareCapital 2024-12-31 01870972 e:ShareCapital 2023-12-31 01870972 e:ShareCapital 2023-01-01 01870972 e:InvestmentPropertiesRevaluationReserve 2024-01-01 2024-12-31 01870972 e:InvestmentPropertiesRevaluationReserve 2024-12-31 01870972 e:InvestmentPropertiesRevaluationReserve 1 2024-01-01 2024-12-31 01870972 e:InvestmentPropertiesRevaluationReserve 2023-12-31 01870972 e:InvestmentPropertiesRevaluationReserve 2023-01-01 01870972 e:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 01870972 e:RetainedEarningsAccumulatedLosses 2024-12-31 01870972 e:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 01870972 e:RetainedEarningsAccumulatedLosses 2023-12-31 01870972 e:RetainedEarningsAccumulatedLosses 2023-01-01 01870972 e:AcceleratedTaxDepreciationDeferredTax 2024-12-31 01870972 e:AcceleratedTaxDepreciationDeferredTax 2023-12-31 01870972 e:TaxLossesCarry-forwardsDeferredTax 2024-12-31 01870972 e:TaxLossesCarry-forwardsDeferredTax 2023-12-31 01870972 e:OtherDeferredTax 2024-12-31 01870972 e:OtherDeferredTax 2023-12-31 01870972 d:FRS102 2024-01-01 2024-12-31 01870972 d:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 01870972 d:FullAccounts 2024-01-01 2024-12-31 01870972 d:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 01870972 2 2024-01-01 2024-12-31 01870972 f:PoundSterling 2024-01-01 2024-12-31 01870972 e:RetainedEarningsAccumulatedLosses 5 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 01870972










FOLDHILT LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
FOLDHILT LIMITED
REGISTERED NUMBER: 01870972

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
558

Investment property
 5 
-
745,000

  
-
745,558

Current assets
  

Debtors: amounts falling due within one year
 6 
5,417
-

Cash at bank and in hand
  
540,464
-

  
545,881
-

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(153,286)
(141,813)

Net current assets/(liabilities)
  
 
 
392,595
 
 
(141,813)

Total assets less current liabilities
  
392,595
603,745

Provisions for liabilities
  

Deferred tax
 8 
-
(113,938)

  
 
 
-
 
 
(113,938)

Net assets
  
392,595
489,807


Capital and reserves
  

Called up share capital 
  
100
100

Investment property reserve
 9 
-
579,988

Profit and loss account
 9 
392,495
(90,281)

  
392,595
489,807

Page 1

 
FOLDHILT LIMITED
REGISTERED NUMBER: 01870972

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

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 her 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 by: 




E Bennett
Director

Date: 17 April 2025

The notes on pages 4 to 10 form part of these financial statements.
Page 2

 
FOLDHILT LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024


Called up share capital
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£


At 1 January 2023
100
579,988
(88,170)
491,918



Loss for the year
-
-
(2,111)
(2,111)



At 1 January 2024
100
579,988
(90,281)
489,807



Loss for the year
-
-
(97,212)
(97,212)

Deferred tax on revaluation of investment property
-
-
(133,781)
(133,781)

Transfer to profit and loss account
-
-
713,769
713,769

Transfer between reserves
-
(579,988)
-
(579,988)


At 31 December 2024
100
-
392,495
392,595


The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
FOLDHILT LIMITED
 

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

1.


General information

Foldhilt Limited is a private company limited by shares and is registered and incorporated in England and Wales. The registered office is Ashridge Cottage, 38 Pebblemoor, Edlesborough, Dunstable, Bedfordshire, LU6 2HZ.

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 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.

 
2.2

Going concern

The director has decided to sell the investment property that the Company rents out. A decision on the going concern and whether to wind up the company is to be made during the financial year ending 31 December 2025.

  
2.3

Turnover

Turnover represents amounts receivable for the rental of residential property. Rental income is recognised on an accruals basis as it falls due with any difference to amounts paid being recognised in accruals and prepayments.

 
2.4

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%

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.

 
2.5

Investment property

Investment property is carried at fair value determined 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.

Page 4

 
FOLDHILT LIMITED
 

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

2.Accounting policies (continued)

 
2.6

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.

 
2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

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.

 
2.8

Foreign currency translation

Functional and presentation currency

The Company's 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 comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 5

 
FOLDHILT LIMITED
 

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

2.Accounting policies (continued)

 
2.9

Interest income

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

 
2.10

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.


 
2.11

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.

 
2.12

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.

 
2.13

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.
 
Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 6

 
FOLDHILT LIMITED
 

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

3.


Employees




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


4.


Tangible fixed assets





Fixtures and fittings

£





At 1 January 2024
7,443


Disposals
(7,443)



At 31 December 2024

-





At 1 January 2024
6,885


Disposals
(6,885)



At 31 December 2024

-



Net book value



At 31 December 2024
-



At 31 December 2023
558

Page 7

 
FOLDHILT LIMITED
 

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

5.


Investment property


Freehold investment property

£





At 1 January 2024
745,000


Disposals
(745,000)



At 31 December 2024
-

The prior year valuations were made by a professional valuer, on an open market value for existing use basis.

The investment property comprises residential property in Portugal. On the 1 January 2016 the property was valued at €500,000 and was recognised at its sterling value on this date. A revaluation was undertaken by a professional valuer in December 2023 and investment property has been restated at its sterling open market value on an existing use basis. 
Investment property represents a non-monetary asset and as such no adjustment is required in relation to foreign exchange movements. The fair value reserve represents the excess in the valuation of the property over and above historic cost, net of deferred tax. Deferred taxation is provided on the basis that tax will not become payable on the gain until crystalisation on sale.
The investment property owned by the Company was disposed of during the period.




Page 8

 
FOLDHILT LIMITED
 

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

6.


Debtors

2024
2023
£
£


Other debtors
5,417
-

5,417
-



7.


Creditors: amounts falling due within one year

2024
2023
£
£

Accruals
3,150
3,920

Other creditors
150,136
137,893

153,286
141,813



8.


Deferred taxation




2024
2023


£

£






At beginning of year
(113,938)
(114,717)


Charged to the profit or loss
113,938
779



At end of year
-
(113,938)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
-
(140)

Tax losses carried forward
-
19,983

Tax on revaluation gains
-
(133,781)

-
(113,938)

Page 9

 
FOLDHILT LIMITED
 

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

9.


Reserves

Investment property revaluation reserve

The investment property revaluation reserve represents an excess in the valuation of investment property over and above the original cost of the property. Deferred taxation is provided on the basis that tax will not become payable on the gain until cystallisation on sale. 


10.


Controlling party

The ultimate controlling party is E Bennett by virtue of her 100% shareholding.


Page 10