Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-31false2024-01-01falseNo description of principal activity22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06080296 2024-01-01 2024-12-31 06080296 2023-01-01 2023-12-31 06080296 2024-12-31 06080296 2023-12-31 06080296 2023-01-01 06080296 2 2024-01-01 2024-12-31 06080296 3 2024-01-01 2024-12-31 06080296 d:Director1 2024-01-01 2024-12-31 06080296 e:FreeholdInvestmentProperty 2024-12-31 06080296 e:FreeholdInvestmentProperty 2023-12-31 06080296 e:FreeholdInvestmentProperty 2 2024-01-01 2024-12-31 06080296 e:CurrentFinancialInstruments 2024-12-31 06080296 e:CurrentFinancialInstruments 2023-12-31 06080296 e:Non-currentFinancialInstruments 2024-12-31 06080296 e:Non-currentFinancialInstruments 2023-12-31 06080296 e:CurrentFinancialInstruments e:WithinOneYear 2024-12-31 06080296 e:CurrentFinancialInstruments e:WithinOneYear 2023-12-31 06080296 e:Non-currentFinancialInstruments e:AfterOneYear 2024-12-31 06080296 e:Non-currentFinancialInstruments e:AfterOneYear 2023-12-31 06080296 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2024-12-31 06080296 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2023-12-31 06080296 e:ShareCapital 2024-01-01 2024-12-31 06080296 e:ShareCapital 2024-12-31 06080296 e:ShareCapital 2023-12-31 06080296 e:ShareCapital 2023-01-01 06080296 e:RevaluationReserve 2024-12-31 06080296 e:RevaluationReserve 2023-12-31 06080296 e:InvestmentPropertiesRevaluationReserve 2024-01-01 2024-12-31 06080296 e:InvestmentPropertiesRevaluationReserve 2024-12-31 06080296 e:InvestmentPropertiesRevaluationReserve 2 2024-01-01 2024-12-31 06080296 e:InvestmentPropertiesRevaluationReserve 3 2024-01-01 2024-12-31 06080296 e:InvestmentPropertiesRevaluationReserve 2023-12-31 06080296 e:InvestmentPropertiesRevaluationReserve 2023-01-01 06080296 e:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 06080296 e:RetainedEarningsAccumulatedLosses 2024-12-31 06080296 e:RetainedEarningsAccumulatedLosses 2 2024-01-01 2024-12-31 06080296 e:RetainedEarningsAccumulatedLosses 3 2024-01-01 2024-12-31 06080296 e:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 06080296 e:RetainedEarningsAccumulatedLosses 2023-12-31 06080296 e:RetainedEarningsAccumulatedLosses 2023-01-01 06080296 e:AcceleratedTaxDepreciationDeferredTax 2024-12-31 06080296 e:AcceleratedTaxDepreciationDeferredTax 2023-12-31 06080296 d:OrdinaryShareClass1 2024-01-01 2024-12-31 06080296 d:OrdinaryShareClass1 2024-12-31 06080296 d:FRS102 2024-01-01 2024-12-31 06080296 d:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 06080296 d:FullAccounts 2024-01-01 2024-12-31 06080296 d:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 06080296 2 2024-01-01 2024-12-31 06080296 e:ShareCapital 2 2024-01-01 2024-12-31 06080296 e:ShareCapital 3 2024-01-01 2024-12-31 06080296 f:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 06080296









CASEYS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
CASEYS LIMITED
REGISTERED NUMBER: 06080296

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024


2024

2023
Note
£
£
£
£

Fixed assets
  

Investment property
 4 
6,000,000
6,750,000

  
6,000,000
6,750,000

Current assets
  

Debtors: amounts falling due after more than one year
 5 
2,989,957
2,986,977

Debtors: amounts falling due within one year
 5 
521,869
447,061

Cash at bank and in hand
 6 
65,876
93,276

  
3,577,702
3,527,314

Creditors: amounts falling due within one year
 7 
(82,349)
(113,057)

Net current assets
  
 
 
3,495,353
 
 
3,414,257

Total assets less current liabilities
  
9,495,353
10,164,257

Creditors: amounts falling due after more than one year
 8 
(3,000,000)
(3,037,500)

Provisions for liabilities
  

Deferred tax
 10 
(979,669)
(1,167,169)

Net assets
  
5,515,684
5,959,588


Capital and reserves
  

Called up share capital 
 11 
560
560

Investment property reserve
  
3,456,601
4,019,101

Profit and loss account
  
2,058,523
1,939,927

  
5,515,684
5,959,588


Page 1

 
CASEYS LIMITED
REGISTERED NUMBER: 06080296
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 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 11 April 2025.




S P Roue
Director

The notes on pages 4 to 8 form part of these financial statements.

Page 2

 
CASEYS 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
560
4,019,101
1,755,427
5,775,088


Comprehensive income for the year

Profit for the year
-
-
184,500
184,500



At 1 January 2024
560
4,019,101
1,939,927
5,959,588


Comprehensive income for the year

Loss for the year
-
-
(443,904)
(443,904)

Transfer from investment property reserve
-
-
562,500
562,500

Transfer to profit and loss account
-
(562,500)
-
(562,500)
Total comprehensive income for the year
-
(562,500)
118,596
(443,904)


At 31 December 2024
560
3,456,601
2,058,523
5,515,684


The notes on pages 4 to 8 form part of these financial statements.

Page 3

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

1.


General information

Caseys Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is 316-318 Latimer Road, London, W10 6QN.
The principal activity of the company during the period was that of property investment.

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

Turnover comprises rent receivable and is recognised to the extent that it is probable that the economic benefits will flow to the company and can be reliably measured. Turnover is measured as the fair value of the consideration received excluding value added tax.

 
2.3

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to the Statement of comprehensive income 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.

 
2.5

Borrowing costs

All borrowing costs are recognised in the Statement of comprehensive income in the year in which they are incurred.

Page 4

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

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income 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.

 
2.7

Investment property

Investment properties are properties held to earn rent and or capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of the investment properties are included in the Statement of comprehensive income in the year in which they arise.

 
2.8

Debtors

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

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 5

 
CASEYS 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 2 (2023 - 2).


4.


Investment property


Freehold investment property

£



Valuation


At 1 January 2024
6,750,000


Fair value adjustment
(750,000)



At 31 December 2024
6,000,000

The 2024 valuations were made by the directors, who are not property professionals, on an open market value for existing use basis.





5.


Debtors

2024
2023
£
£

Due after more than one year

Amounts owed by group undertakings
2,989,957
2,986,977

2,989,957
2,986,977


2024
2023
£
£

Due within one year

Amounts owed by group undertakings
520,750
445,893

Prepayments and accrued income
1,119
1,168

521,869
447,061


Page 6

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

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
65,876
93,276

65,876
93,276



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
-
813

Other taxation and social security
27,674
28,338

Other creditors
35,000
35,000

Accruals and deferred income
19,675
48,906

82,349
113,057



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
3,000,000
3,037,500


The bank loan is secured by a fixed and floating charge against all assets of the company and a personal guarantee provided by one of the directors limited to £250,000.


9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£



Amounts falling due 2-5 years

Bank loans
3,000,000
3,037,500


3,000,000
3,037,500


Page 7

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

10.


Deferred taxation




2024
2023


£

£






At beginning of year
1,167,169
1,167,169


Credited to the Statement of comprehensive income
(187,500)
-



At end of year
979,669
1,167,169

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Potential capital gains tax
979,669
1,167,169


11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



560 Ordinary shares of £1 each
560
560



12.


Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
 


13.


Controlling party

The immediate and ultimate parent undertaking is 316 Latimer Ltd, a company incorporated in England and Wales. 
The ultimate controlling party of  the company is S P Roue by virtue of his majority shareholding in the parent company.

 
Page 8