Caseware UK (AP4) 2024.0.164 2024.0.164 2025-03-312025-03-312024-04-01falseNo description of principal activity11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 05442789 2024-04-01 2025-03-31 05442789 2023-04-01 2024-03-31 05442789 2025-03-31 05442789 2024-03-31 05442789 c:Director1 2024-04-01 2025-03-31 05442789 d:FreeholdInvestmentProperty 2024-04-01 2025-03-31 05442789 d:FreeholdInvestmentProperty 2025-03-31 05442789 d:FreeholdInvestmentProperty 2024-03-31 05442789 d:FreeholdInvestmentProperty 2 2024-04-01 2025-03-31 05442789 d:CurrentFinancialInstruments 2025-03-31 05442789 d:CurrentFinancialInstruments 2024-03-31 05442789 d:Non-currentFinancialInstruments 2025-03-31 05442789 d:Non-currentFinancialInstruments 2024-03-31 05442789 d:CurrentFinancialInstruments d:WithinOneYear 2025-03-31 05442789 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 05442789 d:Non-currentFinancialInstruments d:AfterOneYear 2025-03-31 05442789 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 05442789 d:ShareCapital 2025-03-31 05442789 d:ShareCapital 2024-03-31 05442789 d:RetainedEarningsAccumulatedLosses 2025-03-31 05442789 d:RetainedEarningsAccumulatedLosses 2024-03-31 05442789 c:FRS102 2024-04-01 2025-03-31 05442789 c:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 05442789 c:FullAccounts 2024-04-01 2025-03-31 05442789 c:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 05442789 d:OtherDeferredTax 2025-03-31 05442789 d:OtherDeferredTax 2024-03-31 05442789 2 2024-04-01 2025-03-31 05442789 6 2024-04-01 2025-03-31 05442789 f:PoundSterling 2024-04-01 2025-03-31 iso4217:GBP xbrli:pure

Registered number: 05442789









SLIGO PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2025

 
SLIGO PROPERTIES LIMITED
REGISTERED NUMBER: 05442789

BALANCE SHEET
AS AT 31 MARCH 2025

2025
2024
Note
£
£

Fixed assets
  

Investments
 4 
-
100

Investment property
 5 
2,835,000
1,694,088

  
2,835,000
1,694,188

Current assets
  

Debtors: amounts falling due within one year
 6 
712
662

Cash at bank and in hand
 7 
117,634
49,644

  
118,346
50,306

Creditors: amounts falling due within one year
 8 
(482,584)
(402,304)

Net current liabilities
  
 
 
(364,238)
 
 
(351,998)

Total assets less current liabilities
  
2,470,762
1,342,190

Creditors: amounts falling due after more than one year
 9 
(1,747,348)
(1,087,644)

Provisions for liabilities
  

Deferred tax
 10 
(193,258)
(63,103)

  
 
 
(193,258)
 
 
(63,103)

Net assets
  
530,156
191,443


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
530,056
191,343

  
530,156
191,443


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.

Page 1

 
SLIGO PROPERTIES LIMITED
REGISTERED NUMBER: 05442789
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025

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: 


................................................
L A Henry
Director
Date: 19 June 2025

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

Page 2

 
SLIGO PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1.


General information

Sligo Properties Limited is a company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office is First Floor, Radius House, 51 Clarendon Road, Watford, WD17 1HP.
The principal activity of the company is that of property investment.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

Page 3

 
SLIGO PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
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.

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

Investment property

Investment property is carried at fair value determined annually 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 the Statement of comprehensive income.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Page 4

 
SLIGO PROPERTIES 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. 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.

 
2.10

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.

 
2.11

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 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.

 
2.13

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.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

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.
Page 5

 
SLIGO PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)


2.13
Financial instruments (continued)


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.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

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.

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.

Page 6

 
SLIGO PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2024 - 1).


4.


Fixed asset investments





Investments in subsidiary companies

£





At 1 April 2024
100


Disposals
(100)



At 31 March 2025
-





5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2024
1,694,088


Additions at cost
700,000


Surplus on revaluation
440,912



At 31 March 2025
2,835,000

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


2025
2024
£
£


Historic cost
2,061,967
1,361,967

2,061,967
1,361,967


6.


Debtors

2025
2024
£
£


Prepayments and accrued income
712
662
Page 7

 
SLIGO PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

6.Debtors (continued)


712
662



7.


Cash and cash equivalents

2025
2024
£
£

Cash at bank and in hand
117,634
49,644

117,634
49,644



8.


Creditors: Amounts falling due within one year

2025
2024
£
£

Bank loans
16,962
16,860

Other taxation and social security
277
281

Other creditors
465,345
385,163

482,584
402,304


Page 8

 
SLIGO PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

9.


Creditors: Amounts falling due after more than one year

2025
2024
£
£

Bank loans
1,747,348
1,087,644

1,747,348
1,087,644


The following liabilities were secured:

2025
2024
£
£



Mortgage
1,735,606
1,070,245

1,735,606
1,070,245

Details of security provided:

The debt detailed above is secured by way of a fixed and floating charge over the properties and contains a negative pledge.


10.


Deferred taxation




2025


£






At beginning of year
(63,103)


Charged to profit or loss
(130,155)



At end of year
(193,258)

The provision for deferred taxation is made up as follows:

2025
2024
£
£


On revaluation of investment properties
(193,258)
(63,103)

(193,258)
(63,103)


11.


Related party transactions

At the balance sheet date the company owed £166,578 (2024: £180,556) to the director of the company.

 
Page 9