Caseware UK (AP4) 2024.0.164 2024.0.164 2025-01-312025-01-31falsefalse42024-02-014truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02167688 2024-02-01 2025-01-31 02167688 2023-02-01 2024-01-31 02167688 2025-01-31 02167688 2024-01-31 02167688 c:Director2 2024-02-01 2025-01-31 02167688 d:CurrentFinancialInstruments 2025-01-31 02167688 d:CurrentFinancialInstruments 2024-01-31 02167688 d:CurrentFinancialInstruments d:WithinOneYear 2025-01-31 02167688 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 02167688 d:ShareCapital 2025-01-31 02167688 d:ShareCapital 2024-01-31 02167688 c:OrdinaryShareClass1 2024-02-01 2025-01-31 02167688 c:OrdinaryShareClass1 2025-01-31 02167688 c:OrdinaryShareClass1 2024-01-31 02167688 c:FRS102 2024-02-01 2025-01-31 02167688 c:AuditExempt-NoAccountantsReport 2024-02-01 2025-01-31 02167688 c:FullAccounts 2024-02-01 2025-01-31 02167688 c:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 02167688 e:PoundSterling 2024-02-01 2025-01-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 02167688









PROSPECT BUSINESS PARK MANAGEMENT COMPANY LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2025

 
PROSPECT BUSINESS PARK MANAGEMENT COMPANY LIMITED
REGISTERED NUMBER: 02167688

BALANCE SHEET
AS AT 31 JANUARY 2025

2025
2024
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
5,966
1,951

Cash at bank and in hand
  
44,468
54,771

  
50,434
56,722

Creditors: amounts falling due within one year
 5 
(50,421)
(56,709)

Net current assets
  
 
 
13
 
 
13

  

Net assets
  
13
13


Capital and reserves
  

Called up share capital 
 6 
13
13

  
13
13


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: 




I N Wayman
Director

Date: 3 June 2025

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
PROSPECT BUSINESS PARK MANAGEMENT COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

1.


General information

Prospect Business Park Management Company Limited is a private company, limited by shares, incorporated in England and Wales. The address of the registered office is The Seedbed Centre, Langston Road, Loughton, IG10 3TQ and the registered number is 02167688. 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

Debtors

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

 
2.4

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.

 
2.5

Creditors

Short-term creditors are measured at the transaction price. 

Page 2

 
PROSPECT BUSINESS PARK MANAGEMENT COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

2.Accounting policies (continued)

 
2.6

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.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

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.
Page 3

 
PROSPECT BUSINESS PARK MANAGEMENT COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

2.Accounting policies (continued)


2.6
Financial instruments (continued)


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.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2024 - 4).


4.


Debtors

2025
2024
£
£


Trade debtors
3,463
-

Prepayments and accrued income
2,503
1,951

5,966
1,951



5.


Creditors: Amounts falling due within one year

2025
2024
£
£

Trade creditors
-
1,119

Other taxation and social security
1,346
1,566

Other creditors
-
2,441

Accruals and deferred income
49,075
51,583

50,421
56,709


Page 4

 
PROSPECT BUSINESS PARK MANAGEMENT COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

6.


Share capital

2025
2024
£
£
Allotted, called up and fully paid



13 (2024 - 13) Ordinary shares of £1.00 each
13
13



Page 5