Caseware UK (AP4) 2024.0.164 2024.0.164 2024-05-312024-05-312025-05-20The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-06-01falseBuying and selling of own real estate.11truetruefalse 03061601 2023-06-01 2024-05-31 03061601 2022-06-01 2023-05-31 03061601 2024-05-31 03061601 2023-05-31 03061601 c:Director1 2023-06-01 2024-05-31 03061601 d:FurnitureFittings 2023-06-01 2024-05-31 03061601 d:FreeholdInvestmentProperty 2024-05-31 03061601 d:FreeholdInvestmentProperty 2023-05-31 03061601 d:CurrentFinancialInstruments 2024-05-31 03061601 d:CurrentFinancialInstruments 2023-05-31 03061601 d:Non-currentFinancialInstruments 2024-05-31 03061601 d:Non-currentFinancialInstruments 2023-05-31 03061601 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 03061601 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 03061601 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 03061601 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 03061601 d:ShareCapital 2024-05-31 03061601 d:ShareCapital 2023-05-31 03061601 d:RetainedEarningsAccumulatedLosses 2024-05-31 03061601 d:RetainedEarningsAccumulatedLosses 2023-05-31 03061601 c:FRS102 2023-06-01 2024-05-31 03061601 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 03061601 c:FullAccounts 2023-06-01 2024-05-31 03061601 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 03061601 d:OtherDeferredTax 2024-05-31 03061601 d:OtherDeferredTax 2023-05-31 03061601 2 2023-06-01 2024-05-31 03061601 6 2023-06-01 2024-05-31 03061601 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Registered number: 03061601









CARELINE PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
CARELINE PROPERTIES LIMITED
REGISTERED NUMBER: 03061601

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 3 
10,000,000
10,000,000

  
10,000,000
10,000,000

Current assets
  

Debtors: amounts falling due within one year
 4 
3,147,580
3,182,620

Cash at bank and in hand
  
1,832,960
1,775,293

  
4,980,540
4,957,913

Creditors: amounts falling due within one year
 5 
(147,231)
(189,705)

Net current assets
  
 
 
4,833,309
 
 
4,768,208

Total assets less current liabilities
  
14,833,309
14,768,208

Creditors: amounts falling due after more than one year
 6 
(5,828,000)
(5,828,000)

Provisions for liabilities
  

Deferred tax
 7 
(1,471,503)
(1,471,503)

  
 
 
(1,471,503)
 
 
(1,471,503)

Net assets
  
7,533,806
7,468,705


Capital and reserves
  

Called up share capital 
  
3,000
3,000

Profit and loss account
  
7,530,806
7,465,705

  
7,533,806
7,468,705


Page 1

 
CARELINE PROPERTIES LIMITED
REGISTERED NUMBER: 03061601
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024

The director considers 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 director acknowledges his 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 by: 




................................................
M N Lawee
Director

Date: 20 May 2025

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

Page 2

 
CARELINE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Careline Properties Limited is a company limited by shares, incorporated in England and Wales. The registered office is Midas House, 198 West End Lane, London, NW6 1SG.
The principal activity of the company continued to be 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 revenue recognised by the company in respect of rent receivable in the year. 

 
2.3

Interest income

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

 
2.4

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.

 
2.5

Borrowing costs

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

 
2.6

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.


 
2.7

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.

Page 3

 
CARELINE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)


2.7
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 method.

Depreciation is provided on the following basis:

Equipment, fixtures and fittings
-
20% straight line

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.

 
2.8

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.

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.10

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.

 
2.11

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.

 
2.12

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 4

 
CARELINE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.13

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.


Investment properties


Freehold investment properties

£



Valuation


At 1 June 2023
10,000,000



At 31 May 2024
10,000,000


Comprising


Cost
3,975,572



2023 revaluation surplus
6,024,428

At 31 May 2024
10,000,000

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




Page 5

 
CARELINE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Debtors

2024
2023
£
£


Trade debtors
49,489
46,891

Other debtors
3,031,092
3,048,332

Prepayments and accrued income
66,999
87,397

3,147,580
3,182,620



5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
-
6,966

Corporation tax
44,382
84,430

Accruals and deferred income
102,849
98,309

147,231
189,705



6.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
5,828,000
5,828,000

5,828,000
5,828,000



7.


Deferred taxation




2024


£






At beginning of year
(1,471,503)



At end of year
(1,471,503)

Page 6

 
CARELINE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
 
7.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


On revaluation of investment properties
(1,471,503)
(1,471,503)

(1,471,503)
(1,471,503)


8.


Related party transactions

At the balance sheet date the company was owed £3,031,092 (2023: £3,048,332) by companies under common control. During the year the company wrote off loans owed by these companies totalling £nil (2023: £2,300,892).


9.


Controlling party

The controlling party is Careline Studios Limited, a company incorporated in England and Wales.

Page 7