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Registered number: 09010500










LOWER BOWDEN PROPERTIES LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
LOWER BOWDEN PROPERTIES LIMITED
REGISTERED NUMBER: 09010500

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
                                                                     Note
£
£

Fixed assets
  

Tangible assets
 5 
131
174

Investment property
 6 
2,557,979
2,557,979

  
2,558,110
2,558,153

Current assets
  

Debtors: amounts falling due within one year
 7 
100,853
109,662

Cash at bank and in hand
 8 
1,225,085
1,219,594

  
1,325,938
1,329,256

Creditors: amounts falling due within one year
 9 
(171,870)
(177,947)

Net current assets
  
 
 
1,154,068
 
 
1,151,309

Total assets less current liabilities
  
3,712,178
3,709,462

  

Net assets
  
3,712,178
3,709,462


Capital and reserves
  

Called up share capital 
 10 
100
100

Share premium account
  
3,493,815
3,493,815

Profit and loss account
  
218,263
215,547

  
3,712,178
3,709,462


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: 




S E Vandersteen
Director
Date: 24 June 2025

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 
LOWER BOWDEN PROPERTIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Lower Bowden Properties Limited is a private company limited by shares, incorporated in England and Wales, registered number 09010500. The registered office of the Company is 1 London Street, Reading, Berkshire, RG1 4PN. 

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

Turnover

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.
Revenue comprises income recognised by the company in respect of rental income receivable during the period.
Income on property sales is recognised on exchange of contracts.

  
2.3

Going concern

The company has substantial cash reserves and, having reviewed the recent results, the cash flow forecasts and the funding in place, the directors are confident that the company can and will continue to operate as a going concern for the foreseeable future. Therefore the financial statements are prepared on a going concern basis.

 
2.4

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.

Page 2

 
LOWER BOWDEN PROPERTIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

  
2.5

Investment Properties

Investment properties are included in the Balance sheet at their historical cost which is not in accordance with Financial Reporting Standard 102. The investment properties are not depreciated. This treatment is contrary to the Companies Act 2006 which states that fixed assets should be depreciated but is, in the opinion of the directors, necessary in order to give a true and fair view of the financial position of the company. 

 
2.6

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.

 
2.7

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.

 
2.8

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.

 
2.9

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.


Page 3

 
LOWER BOWDEN PROPERTIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


4.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
-
5,097


-
5,097


Total current tax
-
5,097
Page 4

 
LOWER BOWDEN PROPERTIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
 
4.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is lower than (2023 - lower than) the standard rate of corporation tax in the UK of 25% (2023 - 22%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
2,714
26,860


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 22%)
679
5,909

Effects of:


Utilisation of tax losses
(679)
(812)

Total tax charge for the year
-
5,097


Factors that may affect future tax charges

There were no factors that may affect future tax charges.


5.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 October 2023
2,514



At 30 September 2024

2,514



Depreciation


At 1 October 2023
2,340


Charge for the year on owned assets
43



At 30 September 2024

2,383



Net book value



At 30 September 2024
131



At 30 September 2023
174

Page 5

 
LOWER BOWDEN PROPERTIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6.


Investment property


Freehold investment property

£



Valuation


At 1 October 2023
2,557,979



At 30 September 2024
2,557,979

The investment properties are held at historical cost and have not been revalued at year end.







7.


Debtors

2024
2023
£
£


Trade debtors
19,233
18,302

Other debtors
35,757
39,158

Prepayments and accrued income
38,863
45,202

Deferred taxation
7,000
7,000

100,853
109,662



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,225,085
1,219,594

1,225,085
1,219,594


Page 6

 
LOWER BOWDEN PROPERTIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
8,758
1,207

Amounts owed to group undertakings
40,474
28,654

Corporation tax
-
5,097

Other taxation and social security
1,927
-

Other creditors
55,446
55,595

Accruals and deferred income
65,265
87,394

171,870
177,947



10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



11.


Related party transactions

At the year end the company owed £40,474 (2023: £28,654) to Pangbourne Beaver Properties Limited, a company with common directors. This balance is non-interest bearing and deemed repayable on demand.


12.


Controlling party

The ultimate controlling party are the trustees of the E M Cardy Will Trust


13.


Auditor's information

The auditor's report on the financial statements for the year ended 30 September 2024 was qualified.

The qualification in the audit report was as follows:

As explained in Note 2.5 to the financial statements, the company's investment properties included in the Balance Sheet at £2,737,979 have not been revalued as required by Financial Reporting Standards 102. We are not able to quantify the effect, if any, on reserves and tangible fixed assets of this non-compliance. Furthermore we have been unable to quantify the effect on deferred tax, if any, of this non-compliance.

The audit report was signed on 24 June 2025 by Alexander Peal DChA BSc (Hons) FCA (Senior statutory auditor) on behalf of James Cowper Kreston Audit.


Page 7