Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-311No description of principal activity2023-08-01false1falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04329714 2023-08-01 2024-07-31 04329714 2022-08-01 2023-07-31 04329714 2024-07-31 04329714 2023-07-31 04329714 c:Director1 2023-08-01 2024-07-31 04329714 d:Buildings 2023-08-01 2024-07-31 04329714 d:Buildings 2024-07-31 04329714 d:Buildings 2023-07-31 04329714 d:FurnitureFittings 2023-08-01 2024-07-31 04329714 d:FurnitureFittings 2024-07-31 04329714 d:FurnitureFittings 2023-07-31 04329714 d:CurrentFinancialInstruments 2024-07-31 04329714 d:CurrentFinancialInstruments 2023-07-31 04329714 d:Non-currentFinancialInstruments 2024-07-31 04329714 d:Non-currentFinancialInstruments 2023-07-31 04329714 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 04329714 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 04329714 d:Non-currentFinancialInstruments d:AfterOneYear 2024-07-31 04329714 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 04329714 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-07-31 04329714 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-07-31 04329714 d:ShareCapital 2024-07-31 04329714 d:ShareCapital 2023-07-31 04329714 d:RevaluationReserve 2023-08-01 2024-07-31 04329714 d:RevaluationReserve 2024-07-31 04329714 d:RevaluationReserve 2023-07-31 04329714 d:RetainedEarningsAccumulatedLosses 2024-07-31 04329714 d:RetainedEarningsAccumulatedLosses 2023-07-31 04329714 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-07-31 04329714 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-07-31 04329714 c:FRS102 2023-08-01 2024-07-31 04329714 c:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 04329714 c:FullAccounts 2023-08-01 2024-07-31 04329714 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 04329714 5 2023-08-01 2024-07-31 04329714 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Registered number: 04329714









CHESHIRE PROPERTIES (UK) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
CHESHIRE PROPERTIES (UK) LIMITED
REGISTERED NUMBER: 04329714

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
850,000
850,000

  
850,000
850,000

Current assets
  

Debtors: amounts falling due within one year
 5 
19,500
19,400

Cash at bank and in hand
 6 
5,118
7,725

  
24,618
27,125

Creditors: amounts falling due within one year
 7 
(124,807)
(127,022)

Net current liabilities
  
 
 
(100,189)
 
 
(99,897)

Total assets less current liabilities
  
749,811
750,103

Creditors: amounts falling due after more than one year
 8 
(437,882)
(451,224)

  

Net assets
  
311,929
298,879


Capital and reserves
  

Called up share capital 
  
1
1

Revaluation reserve
 11 
196,150
196,150

Profit and loss account
 11 
115,778
102,728

  
311,929
298,879


Page 1

 
CHESHIRE PROPERTIES (UK) LIMITED
REGISTERED NUMBER: 04329714
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 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 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 on 16 April 2025.



M A Ali
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
CHESHIRE PROPERTIES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Cheshire Properties (UK) Limited (company number 04329714) is a private company limited by shares, registered in England and Wales.  Its registered office is at Victoria House, 37 Anson Road, Victoria Park, Manchester, M14 5DA.

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. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
CHESHIRE PROPERTIES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.4

Borrowing costs

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

 
2.5

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 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.


 
2.6

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:

Freehold property
-
0% straight line
Fixtures & fittings
-
20% reducing balance

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.

 
2.7

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

Page 4

 
CHESHIRE PROPERTIES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
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. 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. 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.

 
2.11

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.

Financial instruments are recognised in the Company's Balance sheet 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.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes
Page 5

 
CHESHIRE PROPERTIES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)


2.11
Financial instruments (continued)

in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Basic 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.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are
Page 6

 
CHESHIRE PROPERTIES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)


2.11
Financial instruments (continued)

subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

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 directors, during the year was 1 (2023 - 1).


4.


Tangible fixed assets





Investment property
Fixtures & fittings
Total

£
£
£



Cost or valuation


At 1 August 2023
850,000
14,797
864,797



At 31 July 2024

850,000
14,797
864,797



Depreciation


At 1 August 2023
-
14,797
14,797



At 31 July 2024

-
14,797
14,797



Net book value



At 31 July 2024
850,000
-
850,000



At 31 July 2023
850,000
-
850,000

Page 7

 
CHESHIRE PROPERTIES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
Cost or valuation at 31 July 2024 is as follows:

Land and buildings
£


At cost
-
At valuation:

By the director on an open market existing use basis as at 31 July 2024
850,000



850,000

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

2024
2023
£
£


Cost
653,950
653,950

Accumulated depreciation
(91,416)
(84,876)


5.


Debtors

2024
2023
£
£


Other debtors
19,500
19,400

19,500
19,400



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
5,118
7,725

5,118
7,725


Page 8

 
CHESHIRE PROPERTIES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
24,419
29,419

Corporation tax
9,871
9,334

Other creditors
87,692
86,692

Accruals and deferred income
2,825
1,577

124,807
127,022


The following liabilities were secured:




Details of security provided:

The bank loan is secured by a first legal charge over the company's investment property.
Included in creditors due within one year is an unsecured bounce back loan of £11,306 (2023: £16,250). The loan is subject to interest at the rate of 2.5% per annum and is fully backed by the UK government under the BBLS rules.


8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
437,882
451,224

437,882
451,224


The following liabilities were secured:




Details of security provided:

The bank loan is secured by a first legal charge over the company's investment property.

Page 9

 
CHESHIRE PROPERTIES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
24,419
29,419


24,419
29,419


Amounts falling due 2-5 years

Bank loans
437,882
451,224


437,882
451,224


462,301
480,643



10.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
5,118
7,725




Financial assets measured at fair value through profit or loss comprise of cash at bank.


11.


Reserves

Revaluation reserve

Revaluation Reserve represents value of land and buildings in excess of cost price.

Page 10

 
CHESHIRE PROPERTIES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

12.


Related party transactions

Included within rent and rates is an amount of £1,800 (2023: £1,800) paid to Cheshire Homes (UK) Limited for office rent. Cheshire Homes (UK) Limited is wholly controlled by the director M. A. Ali.
Included within rent and rates is an amount of £2,000 (2023: £2,000) paid to Cheshire Homes Freehold Limited for ground rent. Cheshire Homes Freehold Limited is wholly controlled by the director M. A. Ali.
Included within debtors due within one year is a loan due from Cheshire Homes (UK) Limited in the amount of £5,250 (2023: £4,750). The loan is interest free with no fixed repayment terms.
Included within debtors due within one year is a loan due from Mexford 20 Limited in the amount of £12,250 (2023: £11,250). The loan is interest free with no fixed repayment terms. Mexford 20 Limited is wholly controlled by the director M. A. Ali.
Included within debtors due within one year is a loan due from Cheshire Homes Estates Limited in the amount of £2,000 (2023: £2,000). The loan is interest free with no fixed repayment terms. Cheshire Homes Estates Limited is wholly controlled by the director M. A. Ali.
Included within debtors due within one year is a loan due from CH37 Limited in the amount of £0 (2023: -£1,400). The loan is interest free with no fixed repayment terms. CH37 Limited is wholly controlled by the director M. A. Ali.
Included within creditors due within one year is a loan due to CH37 Limited in the amount of £3,600 (2023: £0). The loan is interest free with no fixed repayment terms. CH37 Limited is wholly controlled by the director M. A. Ali.

 
Page 11