Caseware UK (AP4) 2024.0.164 2024.0.164 2025-01-312025-01-314true2024-02-01falseNo description of principal activity4trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 5452749 2024-02-01 2025-01-31 5452749 2023-02-01 2024-01-31 5452749 2025-01-31 5452749 2024-01-31 5452749 c:Director1 2024-02-01 2025-01-31 5452749 c:Director5 2024-02-01 2025-01-31 5452749 d:Buildings 2024-02-01 2025-01-31 5452749 d:MotorVehicles 2024-02-01 2025-01-31 5452749 d:OfficeEquipment 2024-02-01 2025-01-31 5452749 d:OfficeEquipment 2025-01-31 5452749 d:OfficeEquipment 2024-01-31 5452749 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-02-01 2025-01-31 5452749 d:FreeholdInvestmentProperty 2025-01-31 5452749 d:FreeholdInvestmentProperty 2024-01-31 5452749 d:CurrentFinancialInstruments 2025-01-31 5452749 d:CurrentFinancialInstruments 2024-01-31 5452749 d:Non-currentFinancialInstruments 2025-01-31 5452749 d:Non-currentFinancialInstruments 2024-01-31 5452749 d:CurrentFinancialInstruments d:WithinOneYear 2025-01-31 5452749 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 5452749 d:Non-currentFinancialInstruments d:AfterOneYear 2025-01-31 5452749 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 5452749 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2025-01-31 5452749 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-01-31 5452749 d:ShareCapital 2025-01-31 5452749 d:ShareCapital 2024-01-31 5452749 d:RetainedEarningsAccumulatedLosses 2025-01-31 5452749 d:RetainedEarningsAccumulatedLosses 2024-01-31 5452749 c:FRS102 2024-02-01 2025-01-31 5452749 c:AuditExempt-NoAccountantsReport 2024-02-01 2025-01-31 5452749 c:FullAccounts 2024-02-01 2025-01-31 5452749 c:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 5452749 2 2024-02-01 2025-01-31 5452749 6 2024-02-01 2025-01-31 5452749 d:AcceleratedTaxDepreciationDeferredTax 2025-01-31 5452749 d:AcceleratedTaxDepreciationDeferredTax 2024-01-31 5452749 e:PoundSterling 2024-02-01 2025-01-31 iso4217:GBP xbrli:pure

Registered number: 5452749










S.H.A.R.P COMMERCIAL LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2025

 
S.H.A.R.P COMMERCIAL LIMITED
REGISTERED NUMBER: 5452749

BALANCE SHEET
AS AT 31 JANUARY 2025

2025
2024
Note
£
£

Fixed assets
  

Tangible assets
 4 
156
208

Investments
 5 
156,239
156,239

Investment property
 6 
5,405,829
5,405,829

  
5,562,224
5,562,276

Current assets
  

Debtors: amounts falling due within one year
 7 
1,236,851
1,002,736

Cash at bank and in hand
 8 
27,329
130,699

  
1,264,180
1,133,435

Creditors: amounts falling due within one year
 9 
(835,496)
(832,271)

Net current assets
  
 
 
428,684
 
 
301,164

Total assets less current liabilities
  
5,990,908
5,863,440

Creditors: amounts falling due after more than one year
 10 
(2,504,897)
(2,539,897)

Provisions for liabilities
  

Deferred tax
 12 
(46,902)
(46,902)

  
 
 
(46,902)
 
 
(46,902)

Net assets
  
3,439,109
3,276,641


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
3,439,009
3,276,541

  
3,439,109
3,276,641


Page 1

 
S.H.A.R.P COMMERCIAL LIMITED
REGISTERED NUMBER: 5452749

BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2025

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 28 April 2025.




S M Hales
R H J Hales
Director
Director

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

Page 2

 
S.H.A.R.P COMMERCIAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

1.


General information

The company is limited by shares and incorporated in England. Its registered office is Kingsridge House, 601 London Road, Westcliff-On-Sea, SS0 9PE. Its principal place of business is Highgate, Lower Road, Hockley, Essex, SS5 5NL.

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.

 
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

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

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

 
2.5

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.

 
2.6

Borrowing costs

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

Page 3

 
S.H.A.R.P COMMERCIAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

2.Accounting policies (continued)

 
2.7

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.


 
2.8

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.

The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

Page 4

 
S.H.A.R.P COMMERCIAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line and reducing balance method.

Depreciation is provided on the following basis:

Freehold property
-
No depreciation is provided in respect of the freehold and long leasehold investment properties. It is the opinion of the directors that the value of the properties shown in the accounts is a fair reflection of the current open market value, and is equivalent to the recoverable value.
Motor vehicles
-
25% straight line
Office equipment
-
25% 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.

 
2.9

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.

 
2.10

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.

 
2.11

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

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.

Page 5

 
S.H.A.R.P COMMERCIAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

2.Accounting policies (continued)

 
2.13

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.

 
2.14

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2024 - 4).


4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 February 2024
1,638



At 31 January 2025

1,638



Depreciation


At 1 February 2024
1,430


Charge for the year on owned assets
52



At 31 January 2025

1,482



Net book value



At 31 January 2025
156



At 31 January 2024
208

Page 6

 
S.H.A.R.P COMMERCIAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

5.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 February 2024
156,239



At 31 January 2025
156,239




Page 7

 
S.H.A.R.P COMMERCIAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

6.


Investment property


Freehold investment property

£



Valuation


At 1 February 2024
5,405,829



At 31 January 2025
5,405,829

The 2025 valuations were made by the directors, on an open market value for existing use basis.



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

2025
2024
£
£


Historic cost
4,392,103
4,453,880

4,392,103
4,453,880

Page 8

 
S.H.A.R.P COMMERCIAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

7.


Debtors

2025
2024
£
£


Trade debtors
126,628
129,418

Other debtors
1,106,935
870,000

Prepayments and accrued income
3,288
3,318

1,236,851
1,002,736



8.


Cash and cash equivalents

2025
2024
£
£

Cash at bank and in hand
27,329
130,699

27,329
130,699



9.


Creditors: Amounts falling due within one year

2025
2024
£
£

Trade creditors
600,000
600,000

Corporation tax
60,072
54,841

Other creditors
162,232
164,061

Accruals and deferred income
13,192
13,369

835,496
832,271



10.


Creditors: Amounts falling due after more than one year

2025
2024
£
£

Bank loans
2,504,897
2,539,897

2,504,897
2,539,897


Page 9

 
S.H.A.R.P COMMERCIAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

11.


Loans


Analysis of the maturity of loans is given below:


2025
2024
£
£




Amounts falling due after more than 5 years

Bank loans
2,504,897
2,539,897

2,504,897
2,539,897

2,504,897
2,539,897



12.


Deferred taxation




2025


£






At beginning of year
(46,902)



At end of year
(46,902)

The provision for deferred taxation is made up as follows:

2025
2024
£
£


Accelerated capital allowances
(46,902)
(46,902)

(46,902)
(46,902)


13.


Related party transactions

During the year the company had related party transactions with the directors as follows:
Dividends £nil (2024: £nil)
During the year, the company had provided a loan in the sum of £510,000 to SSHR Properties Ltd which has directors and shareholders in common. The loan is interest-free and at the balance sheet date an amount of £510,000 is included in other debtors.
The company was provided a loan from Sharp South East Ltd which has directors and shareholders in common. The loan is interest-free and at the balance sheet date an amount of £600,000 (2024: £600,000) is included in trade creditors.


Page 10