Caseware UK (AP4) 2024.0.164 2024.0.164 No description of principal activity2024-04-01false22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04302797 2024-04-01 2025-03-31 04302797 2023-04-01 2024-03-31 04302797 2025-03-31 04302797 2024-03-31 04302797 c:Director1 2024-04-01 2025-03-31 04302797 d:FurnitureFittings 2024-04-01 2025-03-31 04302797 d:FurnitureFittings 2025-03-31 04302797 d:FurnitureFittings 2024-03-31 04302797 d:FreeholdInvestmentProperty 2025-03-31 04302797 d:FreeholdInvestmentProperty 2024-03-31 04302797 d:CurrentFinancialInstruments 2025-03-31 04302797 d:CurrentFinancialInstruments 2024-03-31 04302797 d:Non-currentFinancialInstruments 2025-03-31 04302797 d:Non-currentFinancialInstruments 2024-03-31 04302797 d:CurrentFinancialInstruments d:WithinOneYear 2025-03-31 04302797 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 04302797 d:Non-currentFinancialInstruments d:AfterOneYear 2025-03-31 04302797 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 04302797 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2025-03-31 04302797 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 04302797 d:ShareCapital 2025-03-31 04302797 d:ShareCapital 2024-03-31 04302797 d:CapitalRedemptionReserve 2025-03-31 04302797 d:CapitalRedemptionReserve 2024-03-31 04302797 d:InvestmentPropertiesRevaluationReserve 2025-03-31 04302797 d:InvestmentPropertiesRevaluationReserve 2024-03-31 04302797 d:RetainedEarningsAccumulatedLosses 2025-03-31 04302797 d:RetainedEarningsAccumulatedLosses 2024-03-31 04302797 c:FRS102 2024-04-01 2025-03-31 04302797 c:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 04302797 c:FullAccounts 2024-04-01 2025-03-31 04302797 c:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 04302797 d:WithinOneYear 2025-03-31 04302797 d:WithinOneYear 2024-03-31 04302797 d:BetweenOneFiveYears 2025-03-31 04302797 d:BetweenOneFiveYears 2024-03-31 04302797 e:PoundSterling 2024-04-01 2025-03-31 iso4217:GBP xbrli:pure

Registered number: 04302797









Norwest Properties (Cheshire) Limited







Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 March 2025

 
Norwest Properties (Cheshire) Limited
Registered number: 04302797

Balance Sheet
As at 31 March 2025

2025
2024
Note
£
£

Fixed assets
  

Investment property
 5 
763,030
763,030

Current assets
  

Debtors: amounts falling due within one year
 6 
3,288
3,163

Cash at bank and in hand
 7 
7,616
26,234

  
10,904
29,397

Creditors: amounts falling due within one year
 8 
(233,676)
(157,532)

Net current liabilities
  
 
 
(222,772)
 
 
(128,135)

Total assets less current liabilities
  
540,258
634,895

Creditors: amounts falling due after more than one year
 9 
-
(137,534)

Provisions for liabilities
  

Deferred tax
  
(49,875)
(37,905)

Net assets
  
490,383
459,456


Capital and reserves
  

Called up share capital 
  
2
2

Capital redemption reserve
  
2
2

Investment property reserve
  
149,626
160,945

Profit and loss account
  
340,753
298,507

  
490,383
459,456

Page 1

 
Norwest Properties (Cheshire) Limited
Registered number: 04302797
    
Balance Sheet (continued)
As at 31 March 2025

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: 




S T Rowe
Director

Date: 17 June 2025

The notes on pages 3 to 9 form part of these financial statements.
Page 2

 
Norwest Properties (Cheshire) Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2025

1.


General information

Norwest Properties (Cheshire) Limited (04302797) is a company limited by members capital incorporated in England. The address of the registered office and principal place of business is 3 Haig Court, Haig Road, Knutsford, Cheshire,  WA16 8XZ.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company has net current liabilities of £222,772 at 31 March 2025 (2024: £128,135). Net rental cashflows will be used to meet the repayment of bank loan obligations and any surplus cash will be used to repay the related party loan, Assurances have been provided that the related party loan will not be recalled for payment unless the company has sufficient surplus cash to meet its third party cashflow requirements.
 
On this basis, the Directors consider that it is appropriate to prepare the financial statements on a going concern basis.

 
2.3

Revenue

Revenue relates to rental income, and is recognised on an accruals basis as it becomes due.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

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.

Page 3

 
Norwest Properties (Cheshire) Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2025

2.Accounting policies (continued)

 
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.

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.

 
2.7

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
reducing balance

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.

Page 4

 
Norwest Properties (Cheshire) Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2025

2.Accounting policies (continued)

 
2.9

Debtors

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

 
2.10

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
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.

 
2.12

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions arc charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the balance sheet.


 
2.13

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost rising the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
 
Page 5

 
Norwest Properties (Cheshire) Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2025

2.Accounting policies (continued)


2.13
Financial instruments (continued)


For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.


3.


Employees

The company has no employees other than directors, who did not receive any remuneration (2024 - £Nil)


4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 April 2024
10,104



At 31 March 2025

10,104



Depreciation


At 1 April 2024
10,104



At 31 March 2025

10,104



Net book value



At 31 March 2025
-



At 31 March 2024
-

Page 6

 
Norwest Properties (Cheshire) Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2025

5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2024
763,030



At 31 March 2025
763,030

The 2025 valuations were made by the directors, on an open market value for existing use basis.

2025
2024
£
£

Revaluation reserves


At 1 April 2024
160,945
160,945

Movement on deferred tax on revaluation reserve
(11,319)
-

At 31 March 2025
149,626
160,945





6.


Debtors

2025
2024
£
£


Prepayments and accrued income
3,288
3,163



7.


Cash

2025
2024
£
£

Cash at bank and in hand
7,616
26,234


Page 7

 
Norwest Properties (Cheshire) Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2025

8.


Creditors: Amounts falling due within one year

2025
2024
£
£

Bank loans
137,516
10,639

Trade creditors
129
-

Amounts owed to other participating interests
80,000
127,452

Corporation tax
10,294
13,594

Other taxation and social security
3,737
3,847

Accruals and deferred income
2,000
2,000

233,676
157,532


Bank loans are secured by means of fixed and floating charges over the company's investment property.


9.


Creditors: Amounts falling due after more than one year

2025
2024
£
£

Bank loans
-
137,534


Bank loans are secured by means of fixed and floating charges over the company's investment property.


10.


Loans


Analysis of the maturity of loans is given below:


2025
2024
£
£

Amounts falling due within one year

Bank loans
137,516
10,639

Amounts falling due 1-2 years

Bank loans
-
137,534


137,516
148,173


Page 8

 
Norwest Properties (Cheshire) Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2025

11.


Commitments under operating leases

At 31 March 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2025
2024
£
£


Not later than 1 year
10,500
10,500

Later than 1 year and not later than 5 years
10,500
21,000

21,000
31,500


12.


Related party transactions

During the year the company charged rent of £86,841 (2024: £86,841) to a company in which a director is an ultimate shareholder.
At the year end, £80,000 (
2024: £127,452) was owing to that company.

 
Page 9