Caseware UK (AP4) 2024.0.164 2024.0.164 2024-03-312024-03-312025-05-12false2023-04-01falseThe principal activity of the company is that of investment in partnership33trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07947637 2023-04-01 2024-03-31 07947637 2022-04-01 2023-03-31 07947637 2024-03-31 07947637 2023-03-31 07947637 c:Director1 2023-04-01 2024-03-31 07947637 d:FurnitureFittings 2023-04-01 2024-03-31 07947637 d:FurnitureFittings 2024-03-31 07947637 d:FurnitureFittings 2023-03-31 07947637 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07947637 d:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 07947637 d:OtherPropertyPlantEquipment 2024-03-31 07947637 d:OtherPropertyPlantEquipment 2023-03-31 07947637 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07947637 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07947637 d:LeaseholdInvestmentProperty 2024-03-31 07947637 d:LeaseholdInvestmentProperty 2023-03-31 07947637 d:LeaseholdInvestmentProperty 2 2023-04-01 2024-03-31 07947637 d:CurrentFinancialInstruments 2024-03-31 07947637 d:CurrentFinancialInstruments 2023-03-31 07947637 d:Non-currentFinancialInstruments 2024-03-31 07947637 d:Non-currentFinancialInstruments 2023-03-31 07947637 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 07947637 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07947637 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 07947637 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 07947637 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 07947637 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 07947637 d:ShareCapital 2024-03-31 07947637 d:ShareCapital 2023-03-31 07947637 d:RevaluationReserve 2024-03-31 07947637 d:RevaluationReserve 2023-03-31 07947637 d:RetainedEarningsAccumulatedLosses 2024-03-31 07947637 d:RetainedEarningsAccumulatedLosses 2023-03-31 07947637 c:OrdinaryShareClass1 2023-04-01 2024-03-31 07947637 c:OrdinaryShareClass1 2024-03-31 07947637 c:FRS102 2023-04-01 2024-03-31 07947637 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07947637 c:FullAccounts 2023-04-01 2024-03-31 07947637 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07947637 6 2023-04-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 07947637














LIPMAN KARAS UK LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
LIPMAN KARAS UK LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 8


 
LIPMAN KARAS UK LIMITED
REGISTERED NUMBER:07947637

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
81,602
88,635

Investments
 5 
1
1

Investment property
 6 
3,225,000
4,150,000

  
3,306,603
4,238,636

Current assets
  

Debtors: amounts falling due within one year
 7 
1,262,109
1,821,137

Cash at bank and in hand
 8 
24,305
4,756

  
1,286,414
1,825,893

Creditors: amounts falling due within one year
 9 
(777,117)
(764,551)

Net current assets
  
 
 
509,297
 
 
1,061,342

Total assets less current liabilities
  
3,815,900
5,299,978

Creditors: amounts falling due after more than one year
 10 
(2,077,723)
(2,075,389)

  

Net assets
  
1,738,177
3,224,589


Capital and reserves
  

Called up share capital 
 12 
2
2

Non-distributable profit and loss reserve
  
-
469,911

Profit and loss account
  
1,738,175
2,754,676

  
1,738,177
3,224,589


1

 
LIPMAN KARAS UK LIMITED
REGISTERED NUMBER:07947637
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 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 profit and loss account 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: 





................................................
A J Ford
Director

Date: 12 May 2025

The notes on pages 3 to 8 form part of these financial statements.

2

 
LIPMAN KARAS UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Lipman Karas UK Limited is private company, limited by shares, registered in England and Wales, registration number 07947637. The registered office address is 33 Black Friars Lane, London, EC4V 6EP.  

The principal activity of the company is that of investment in partnership.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The company is the parent undertaking of a small group and such is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the comapany as an individual undertaking and not about its group.
The company's functional and presentational currency is pound sterling. 

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover represents share of profits or losses relating to the investment in partnership.

 
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.

 
2.4

Borrowing costs

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

3

 
LIPMAN KARAS UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
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.

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. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
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:

Fixtures and fittings
-
10-15%
Other fixed assets
-
2%

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

Investment property

Investment property is carried at fair value determined annually by external valuers or directors 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.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

4

 
LIPMAN KARAS UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.10

 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. 

 
2.11

 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.

 
2.12

 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 from and to related parties, investments.


3.


Employees

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


4.


Tangible fixed assets





Fixtures and fittings
Other fixed assets
Total

£
£
£



Cost or valuation


At 1 April 2023
137,367
17,282
154,649


Additions
744
-
744



At 31 March 2024

138,111
17,282
155,393



Depreciation


At 1 April 2023
63,586
2,428
66,014


Charge for the year on owned assets
7,480
297
7,777



At 31 March 2024

71,066
2,725
73,791



Net book value



At 31 March 2024
67,045
14,557
81,602



At 31 March 2023
73,781
14,854
88,635

5

 
LIPMAN KARAS UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2023
1



At 31 March 2024
1





6.


Investment property


Long term leasehold investment property

£



Valuation


At 1 April 2023
4,150,000


Deficit on revaluation
(925,000)



At 31 March 2024
3,225,000

The 2024 valuations were made by 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:

2024
2023
£
£


Historic cost
3,953,087
3,953,087


7.


Debtors

2024
2023
£
£


Other debtors
1,259,327
1,813,976

Prepayments
2,782
7,161

1,262,109
1,821,137


6

 
LIPMAN KARAS UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
24,305
4,756

Less: bank overdrafts
-
(7,678)

24,305
(2,922)



9.


Creditors: amounts falling due within one year

2024
2023
£
£

Bank overdrafts
-
7,678

Corporation tax
-
59,867

Other creditors
717,362
687,806

Accruals and deferred income
59,755
9,200

777,117
764,551



10.


Creditors: amounts falling due after more than one year

2024
2023
£
£

Bank loans
2,077,723
2,075,389


The bank loans are secured by fixed charges over the properties of the company.


11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£



Amounts falling due 2-5 years

Bank loans
2,077,723
2,075,389




12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2 Ordinary shares of £1.00 each
2
2


7

 
LIPMAN KARAS UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

13.


Related party transactions

Included in other creditors is an amount due to a director totalling £7,114 (2023 - £7,114). The loan is interest free and repayable on demand.

 
8