Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-302025-05-152023-07-01truefalse11trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11504555 2023-07-01 2024-06-30 11504555 2022-07-01 2023-06-30 11504555 2024-06-30 11504555 2023-06-30 11504555 c:Director1 2023-07-01 2024-06-30 11504555 d:Buildings 2023-07-01 2024-06-30 11504555 d:Buildings 2024-06-30 11504555 d:Buildings 2023-06-30 11504555 d:CurrentFinancialInstruments 2024-06-30 11504555 d:CurrentFinancialInstruments 2023-06-30 11504555 d:Non-currentFinancialInstruments 2024-06-30 11504555 d:Non-currentFinancialInstruments 2023-06-30 11504555 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 11504555 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 11504555 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 11504555 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 11504555 d:ShareCapital 2024-06-30 11504555 d:ShareCapital 2023-06-30 11504555 d:RetainedEarningsAccumulatedLosses 2024-06-30 11504555 d:RetainedEarningsAccumulatedLosses 2023-06-30 11504555 c:OrdinaryShareClass1 2023-07-01 2024-06-30 11504555 c:OrdinaryShareClass1 2024-06-30 11504555 c:OrdinaryShareClass1 2023-06-30 11504555 c:FRS102 2023-07-01 2024-06-30 11504555 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 11504555 c:FullAccounts 2023-07-01 2024-06-30 11504555 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 11504555 5 2023-07-01 2024-06-30 11504555 6 2023-07-01 2024-06-30 11504555 1 2024-06-30 11504555 2 2024-06-30 11504555 3 2024-06-30 11504555 1 2023-06-30 11504555 2 2023-06-30 11504555 3 2023-06-30 11504555 f:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 11504555









EMMETT INVESTMENTS LTD

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
EMMETT INVESTMENTS LTD
REGISTERED NUMBER: 11504555

BALANCE SHEET
AS AT 30 JUNE 2024

As restated
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
300,000
262,625

Investments
 5 
-
29,159

  
300,000
291,784

Current assets
  

Debtors
 6 
47,055
46,393

Cash at bank
  
6,875
3,481

Current liabilities
  
53,930
49,874

Creditors: amounts falling due within one year
  
(3,000)
(1,525)

Net current assets
  
 
 
50,930
 
 
48,349

Total assets less current liabilities
  
350,930
340,133

Creditors: amounts falling due after more than one year
 7 
(191,263)
(191,251)

  

Net assets
  
159,667
148,882


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
159,567
148,782

  
159,667
148,882


Page 1

 
EMMETT INVESTMENTS LTD
REGISTERED NUMBER: 11504555

BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 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: 




Mr S D Emmett
Director

Date: 15 May 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
EMMETT INVESTMENTS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Emmett Investments Ltd is a private Company limited by shares, incorporated in England and Wales. The address of the registered office is Tennyson House, Cambridge Business Park, Cambridge, CB4 0WZ. The Company is not part of a group.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

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:

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.

 
2.4

Borrowing costs

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

Page 3

 
EMMETT INVESTMENTS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 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 corporation 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.


 
2.6

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.

Depreciation is provided on the following basis:

Freehold property
-
Not depreciated

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.

Page 4

 
EMMETT INVESTMENTS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
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.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated 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.

 
2.9

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.

 
2.10

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. 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.

 
2.11

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.

Page 5

 
EMMETT INVESTMENTS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.12

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.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

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.

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 6

 
EMMETT INVESTMENTS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





Freehold property

£



Cost


At 1 July 2023
262,625


Revaluations
37,375



At 30 June 2024

300,000






Net book value



At 30 June 2024
300,000



At 30 June 2023
262,625

Cost or valuation at 30 June 2024 is as follows:

Land and buildings
£


At cost
262,625
At valuation:

2024
37,375



300,000

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
262,625
262,625

Page 7

 
EMMETT INVESTMENTS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Fixed asset investments





Listed investments
Unlisted investments
Other fixed asset investments
Total

£
£
£
£



Cost


At 1 July 2023
24,658
501
4,000
29,159


Disposals
(24,658)
(500)
(4,000)
(29,158)



At 30 June 2024

-
1
-
1



Impairment


Charge for the period
-
1
-
1



At 30 June 2024

-
1
-
1



Net book value



At 30 June 2024
-
-
-
-



At 30 June 2023
24,658
501
4,000
29,159


6.


Debtors

2024
2023
£
£

Due after more than one year

Amounts owed by group undertakings
-
317

Due within one year

Other debtors
47,055
46,076

47,055
46,393



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
191,263
191,251


The total amount of creditors for which security has been given amounted to £191,263 (2023 - £191,251). Bank loans are secured by way of fixed charge over the Company's property.

Page 8

 
EMMETT INVESTMENTS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



9.


Prior year adjustment

Prior year adjustments have been made in respect of the following errors:
An asset relating to monies expected to be received from an investment account were overstated. The correction of this has had the effect of reducing debtors and a decrease in profit and loss reserves.
Amounts owed by the director to the Company were incorrectly recorded as a third party debtor. The correction of this has had the effect of decreasing debtors due within one year and decreasing creditors due within one year.
Income from subsidary Companies were omitted. The correction of this has had the effect of increasing retained earnings, decreasing other debtors & increasing other creditors.
The correction of the above errors have resulted in the following effects on the figures within the financial
statements:
£1 reduction in investments
£181,076 reduction in debtors due within one year
£289,576 reduction in creditors due within one year
£108,499 increase in profit and loss reserves


10.


Transactions with directors

At 1 July 2023 Mr S D Emmett owed the Compay £46,076. During the year personal expenses were paid on behalf of the director totalling £12,500 and repayments made totalling £11,520. No interest was charged, leaving a balance of £47,056 due to the Company at 30 June 2024. The loan was fully repaid within 9 months of the year end.


Page 9