Caseware UK (AP4) 2024.0.164 2024.0.164 2024-05-312024-05-312025-05-21No description of principal activity2023-06-01false22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10665868 2023-06-01 2024-05-31 10665868 2022-06-01 2023-05-31 10665868 2024-05-31 10665868 2023-05-31 10665868 2022-06-01 10665868 c:PriorPeriodIncreaseDecrease 2022-06-01 2023-05-31 10665868 d:Director1 2023-06-01 2024-05-31 10665868 d:Director2 2023-06-01 2024-05-31 10665868 c:CurrentFinancialInstruments 2024-05-31 10665868 c:CurrentFinancialInstruments 2023-05-31 10665868 c:Non-currentFinancialInstruments 2024-05-31 10665868 c:Non-currentFinancialInstruments 2023-05-31 10665868 c:CurrentFinancialInstruments c:WithinOneYear 2024-05-31 10665868 c:CurrentFinancialInstruments c:WithinOneYear 2023-05-31 10665868 c:Non-currentFinancialInstruments c:AfterOneYear 2024-05-31 10665868 c:Non-currentFinancialInstruments c:AfterOneYear 2023-05-31 10665868 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2024-05-31 10665868 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-05-31 10665868 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2024-05-31 10665868 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-05-31 10665868 c:Non-currentFinancialInstruments c:MoreThanFiveYears 2024-05-31 10665868 c:Non-currentFinancialInstruments c:MoreThanFiveYears 2023-05-31 10665868 c:ShareCapital 2024-05-31 10665868 c:ShareCapital 2023-05-31 10665868 c:ShareCapital 2022-06-01 10665868 c:OtherMiscellaneousReserve 2023-06-01 2024-05-31 10665868 c:OtherMiscellaneousReserve 2024-05-31 10665868 c:OtherMiscellaneousReserve 2023-05-31 10665868 c:OtherMiscellaneousReserve c:PriorPeriodIncreaseDecrease 2022-06-01 2023-05-31 10665868 c:OtherMiscellaneousReserve 2022-06-01 10665868 c:RetainedEarningsAccumulatedLosses 2023-06-01 2024-05-31 10665868 c:RetainedEarningsAccumulatedLosses 2024-05-31 10665868 c:RetainedEarningsAccumulatedLosses 2022-06-01 2023-05-31 10665868 c:RetainedEarningsAccumulatedLosses 2023-05-31 10665868 c:RetainedEarningsAccumulatedLosses c:PriorPeriodIncreaseDecrease 2022-06-01 2023-05-31 10665868 c:RetainedEarningsAccumulatedLosses 2022-06-01 10665868 d:FRS102 2023-06-01 2024-05-31 10665868 d:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 10665868 d:FullAccounts 2023-06-01 2024-05-31 10665868 d:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 10665868 c:TaxLossesCarry-forwardsDeferredTax 2024-05-31 10665868 c:TaxLossesCarry-forwardsDeferredTax 2023-05-31 10665868 c:RetirementBenefitObligationsDeferredTax 2024-05-31 10665868 c:RetirementBenefitObligationsDeferredTax 2023-05-31 10665868 c:OtherDeferredTax 2024-05-31 10665868 c:OtherDeferredTax 2023-05-31 10665868 c:Right-of-useInvestmentProperty 2024-05-31 10665868 c:Right-of-useInvestmentProperty 2023-05-31 10665868 e:PoundSterling 2023-06-01 2024-05-31 10665868 c:ShareCapital c:PriorPeriodErrorIncreaseDecrease 2022-06-01 2023-05-31 10665868 c:RetainedEarningsAccumulatedLosses c:PreviouslyStatedAmount 2022-06-01 10665868 c:PreviouslyStatedAmount 2022-06-01 iso4217:GBP xbrli:pure
Registered number: 10665868














WAITT CAPITAL (66 NDR) LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MAY 2024

 
WAITT CAPITAL (66 NDR) LIMITED
REGISTERED NUMBER:10665868

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 3 
6,300,000
6,300,000

Current assets
  

Debtors: amounts falling due within one year
 4 
2,742,536
2,858,906

Cash at bank and in hand
 5 
1,405
70,571

  
2,743,941
2,929,477

Creditors: amounts falling due within one year
 6 
(738,576)
(1,458,174)

Net current assets
  
 
 
2,005,365
 
 
1,471,303

Total assets less current liabilities
  
8,305,365
7,771,303

Creditors: amounts falling due after more than one year
 7 
(7,506,784)
(6,985,882)

Deferred tax
 9 
(96,849)
-

  
 
 
(96,849)
 
 
-

Net assets
  
£701,732
£785,421


Capital and reserves
  

Called up share capital 
  
1
1

Other reserves
 10 
704,094
938,792

Profit and loss account
 10 
(2,363)
(153,372)

  
£701,732
£785,421

Page 1

 
WAITT CAPITAL (66 NDR) LIMITED
REGISTERED NUMBER:10665868

BALANCE SHEET (CONTINUED)
AS AT 31 MAY 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 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 21 May 2025.




___________________________
T R Waitt
___________________________
L J Waitt
Director
Director

The notes on pages 4 to 9 form part of these financial statements.
Page 2

 
WAITT CAPITAL (66 NDR) LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2024


Called up share capital
Other reserves
Profit and loss account
Total equity

£
£
£
£

At 1 June 2023
1
938,792
(153,372)
785,421


Comprehensive income for the year

Loss for the year
-
-
(83,689)
(83,689)

Transfer to/from profit and loss account
-
(234,698)
234,698
-


At 31 May 2024
£1
£704,094
£(2,363)
£701,732



STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2023


Called up share capital
Other reserves
Profit and loss account
Total equity

£
£
£
£

At 1 June 2022 (as previously stated)
1
938,792
(181,084)
757,709

Prior year adjustment - correction of error
-
-
13,677
13,677

At 1 June 2022 (as restated)
1
938,792
(167,407)
771,386


Comprehensive income for the year

Profit for the year
-
-
14,035
14,035


At 31 May 2023
£1
£938,792
£(153,372)
£785,421


The notes on pages 4 to 9 form part of these financial statements.
Page 3

 
WAITT CAPITAL (66 NDR) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Waitt Capital (66 NDR) Limited is a private company limited by shares, incorporated in England and Wales. The company number is 10665868 and the registered office of the company is Henwood House, Henwood, Ashford, Kent, TN24 8DH.

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

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 4

 
WAITT CAPITAL (66 NDR) LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.5

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.


 
2.6

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.

 
2.7

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.

 
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.

Page 5

 
WAITT CAPITAL (66 NDR) LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
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.


3.


Investment property


Property under construc-tion

£



Valuation


At 1 June 2023
6,300,000



At 31 May 2024
6,300,000

The 2024 valuations were made by Knight Frank LLP, 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
5,361,208
5,361,208

£5,361,208
£5,361,208


4.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
2,641,848
2,734,468

Other debtors
10,500
5,000

Prepayments and accrued income
90,188
119,438

£2,742,536
£2,858,906


Page 6

 
WAITT CAPITAL (66 NDR) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
£1,405
£70,571



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
178,778
878,459

Trade creditors
252,991
253,876

Amounts owed to group undertakings
496
-

Other creditors
198,788
238,863

Accruals and deferred income
107,523
86,976

£738,576
£1,458,174


The bank loans are secured by fixed and floating charges on the property.


7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
7,506,784
6,985,882

£7,506,784
£6,985,882


The bank loans are secured by fixed and floating charges on the property.

Page 7

 
WAITT CAPITAL (66 NDR) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
178,778
878,459


178,778
878,459

Amounts falling due 1-2 years

Bank loans
178,779
882,990


178,779
882,990

Amounts falling due 2-5 years

Bank loans
7,328,005
2,635,378


7,328,005
2,635,378

Amounts falling due after more than 5 years

Bank loans
-
3,467,514

-
3,467,514

£7,685,562
£7,864,341


The bank loans are secured by a debenture over the assets of the company including a first legal mortgage over the property. The bank loans are supported by a further debenture over the assets of its fellow subsidiary, Waitt Estates Limited. The directors have provided personal guarantees limited to £1.265 million. 


9.


Deferred taxation




2024


£






Charged to profit or loss
(96,849)



At end of year
£(96,849)

Page 8

 
WAITT CAPITAL (66 NDR) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
 
9.Deferred taxation (continued)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Tax losses carried forward
119,312
-

Fair value adjustments arising on valuation
(234,698)
-

Other timing differences
18,537
-

£(96,849)
£-


10.


Reserves

Other reserves

The other reserves represents non-distributable reserves arising on the fair value movement of the investment property after adjusting for deferred taxation.

11.
Controlling party

At the balance sheet date, the parent undertaking is Waitt Capital Limited, a company incorporated in England and Wales. 
There is no controlling party of the parent undertaking.
The company is exempt from the requirement of preparing consolidated financial statements as it is a subsidiary undertaking of a small group under section 383 of the Companies Act 2006.

12.


Related party transactions

At the balance sheet date, the Company had the following related party transactions under a variety of common control and common shareholders:
Monopoly Homes Limited owed £10,500 (2023: £5,000).
69 High Street Hythe Limited is owed £64,800 (2023: £65,800). 

Page 9