Caseware UK (AP4) 2024.0.164 2024.0.164 2024-07-312024-07-3122023-08-01falseNo description of principal activity2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 13520997 2023-08-01 2024-07-31 13520997 2022-08-01 2023-07-31 13520997 2024-07-31 13520997 2023-07-31 13520997 c:Director1 2023-08-01 2024-07-31 13520997 d:FreeholdInvestmentProperty 2024-07-31 13520997 d:FreeholdInvestmentProperty 2023-07-31 13520997 d:CurrentFinancialInstruments 2024-07-31 13520997 d:CurrentFinancialInstruments 2023-07-31 13520997 d:Non-currentFinancialInstruments 2024-07-31 13520997 d:Non-currentFinancialInstruments 2023-07-31 13520997 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 13520997 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 13520997 d:Non-currentFinancialInstruments d:AfterOneYear 2024-07-31 13520997 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 13520997 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-07-31 13520997 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-07-31 13520997 d:ShareCapital 2024-07-31 13520997 d:ShareCapital 2023-07-31 13520997 d:OtherMiscellaneousReserve 2023-08-01 2024-07-31 13520997 d:OtherMiscellaneousReserve 2024-07-31 13520997 d:OtherMiscellaneousReserve 2023-07-31 13520997 d:RetainedEarningsAccumulatedLosses 2023-08-01 2024-07-31 13520997 d:RetainedEarningsAccumulatedLosses 2024-07-31 13520997 d:RetainedEarningsAccumulatedLosses 2023-07-31 13520997 c:FRS102 2023-08-01 2024-07-31 13520997 c:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 13520997 c:FullAccounts 2023-08-01 2024-07-31 13520997 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 13520997 2 2023-08-01 2024-07-31 13520997 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Registered number: 13520997









TIMBER SPV LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
TIMBER SPV LIMITED
REGISTERED NUMBER: 13520997

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
5,746,096
5,746,096

  
5,746,096
5,746,096

Current assets
  

Debtors: amounts falling due within one year
 5 
114,665
92,225

Cash at bank and in hand
 6 
57,558
32,059

  
172,223
124,284

Creditors: amounts falling due within one year
 7 
(3,024,446)
(2,875,464)

Net current liabilities
  
 
 
(2,852,223)
 
 
(2,751,180)

Total assets less current liabilities
  
2,893,873
2,994,916

Creditors: amounts falling due after more than one year
 8 
(2,745,600)
(2,802,800)

  

Net assets
  
148,273
192,116


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Other reserves
 10 
100,000
100,000

Profit and loss account
 10 
47,273
91,116

  
148,273
192,116


Page 1

 
TIMBER SPV LIMITED
REGISTERED NUMBER: 13520997
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 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 by: 




A Azouz
Director

Date: 11 June 2025

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

Page 2

 
TIMBER SPV LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Timber SPV Limited is a private company limited by shares and incorporated in England and Wales (registered number 13520997). Its registered office is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.
The financial statements are prepared in Sterling, which is the functional currency of the Company.

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

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.

Page 3

 
TIMBER SPV LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
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.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 4

 
TIMBER SPV LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 August 2023
5,746,096



At 31 July 2024
5,746,096

The 2024 valuations were made by the 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
5,646,096
5,646,096

5,646,096
5,646,096


5.


Debtors

2024
2023
£
£


Trade debtors
88,622
92,225

Other debtors
26,043
-

114,665
92,225



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
57,558
32,059

57,558
32,059


Page 5

 
TIMBER SPV LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
32
-

Amounts owed to group undertakings
2,983,131
2,811,123

Corporation tax
-
44,127

Other taxation and social security
19,776
17,646

Accruals and deferred income
21,507
2,568

3,024,446
2,875,464



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
2,745,600
2,802,800

2,745,600
2,802,800


The bank loans are secured by fixed and floating charges over the assets of the company. 


9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£



Amounts falling due 2-5 years

Bank loans
2,745,600
2,802,800


2,745,600
2,802,800


2,745,600
2,802,800


Page 6

 
TIMBER SPV LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

10.


Reserves

Other reserves

Includes revaluation of investment property and deferred tax on revaluations.

Profit and loss account

Includes all current and prior period retained profits and losses.

 
Page 7