Caseware UK (AP4) 2023.0.135 2023.0.135 2024-12-312024-12-312025-05-07falsetrue2024-01-01falseNo description of principal activity33trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04245247 2024-01-01 2024-12-31 04245247 2023-01-01 2023-12-31 04245247 2024-12-31 04245247 2023-12-31 04245247 c:Director1 2024-01-01 2024-12-31 04245247 d:FreeholdInvestmentProperty 2024-12-31 04245247 d:FreeholdInvestmentProperty 2023-12-31 04245247 d:CurrentFinancialInstruments 2024-12-31 04245247 d:CurrentFinancialInstruments 2023-12-31 04245247 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 04245247 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 04245247 d:ShareCapital 2024-12-31 04245247 d:ShareCapital 2023-12-31 04245247 d:RetainedEarningsAccumulatedLosses 2024-12-31 04245247 d:RetainedEarningsAccumulatedLosses 2023-12-31 04245247 c:FRS102 2024-01-01 2024-12-31 04245247 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 04245247 c:FullAccounts 2024-01-01 2024-12-31 04245247 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 04245247 2 2024-01-01 2024-12-31 04245247 6 2024-01-01 2024-12-31 04245247 d:AcceleratedTaxDepreciationDeferredTax 2024-12-31 04245247 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 04245247 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure
Registered number: 04245247


LEC RESIDENTIAL LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

 
LEC RESIDENTIAL LIMITED
REGISTERED NUMBER:04245247

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
684,429
645,792

Investment property
 5 
3,511,000
3,511,000

  
4,195,429
4,156,792

Current assets
  

Debtors: amounts falling due within one year
 6 
280,109
275,893

Cash at bank and in hand
 7 
162,923
121,669

  
443,032
397,562

Creditors: amounts falling due within one year
 8 
(27,514)
(9,879)

Net current assets
  
 
 
415,518
 
 
387,683

Total assets less current liabilities
  
4,610,947
4,544,475

Provisions for liabilities
  

Deferred tax
 9 
(251,106)
(251,106)

  
 
 
(251,106)
 
 
(251,106)

Net assets
  
4,359,841
4,293,369


Capital and reserves
  

Called up share capital 
  
900
900

Profit and loss account
  
4,358,941
4,292,469

  
4,359,841
4,293,369


Page 1

 
LEC RESIDENTIAL LIMITED
REGISTERED NUMBER:04245247
    
BALANCE SHEET (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 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 by: 




L E Childs
Director

Date: 7 May 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

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

1.


General information

LEC Residential Limited is a private company limited by shares. It is incorporated in England and Wales, registered number 04245247. Its registered office is 17 Low March Industrial Estate, Low March, Daventry, Northamptonshire, NN11 4SD.

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

Interest income

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

Page 3

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

2.Accounting policies (continued)

 
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.


 
2.5

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate. The value is adjusted as 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 the Statement of Income and Retained Earnings.

 
2.6

Valuation of investments

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.

Page 4

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

2.Accounting policies (continued)

 
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.

 
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

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


4.


Fixed asset investments





Other fixed asset investments

£



Cost or valuation


At 1 January 2024
645,792


Revaluations
38,637



At 31 December 2024
684,429




Page 5

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

5.


Investment property


Freehold investment property

£



Valuation


At 1 January 2024
3,511,000



At 31 December 2024
3,511,000

The 2024 valuations were made by the directors, on an open market value for existing use basis.






6.


Debtors

2024
2023
£
£


Trade debtors
-
1,620

Other debtors
280,109
274,273

280,109
275,893



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
162,923
121,669



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
120
-

Corporation tax
22,158
6,753

Other taxation and social security
1,928
2,101

Accruals and deferred income
3,308
1,025

27,514
9,879


Page 6

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

9.


Deferred taxation




2024


£






At beginning of year
(251,106)



At end of year
(251,106)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Investment property revaluations
(251,106)
(251,106)


10.


Controlling party

The ultimate parent company is LEC Properties Holdings Limited, which is controlled by L E Childs, the Director, by virtue of his majority shareholding.

 
Page 7