Caseware UK (AP4) 2024.0.164 2024.0.164 2025-04-302025-04-30true2024-05-01falseNo description of principal activity11falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10728309 2024-05-01 2025-04-30 10728309 2023-05-01 2024-04-30 10728309 2025-04-30 10728309 2024-04-30 10728309 c:Director1 2024-05-01 2025-04-30 10728309 d:FreeholdInvestmentProperty 2025-04-30 10728309 d:FreeholdInvestmentProperty 2024-04-30 10728309 d:FreeholdInvestmentProperty 2 2024-05-01 2025-04-30 10728309 d:CurrentFinancialInstruments 2025-04-30 10728309 d:CurrentFinancialInstruments 2024-04-30 10728309 d:Non-currentFinancialInstruments 2025-04-30 10728309 d:Non-currentFinancialInstruments 2024-04-30 10728309 d:CurrentFinancialInstruments d:WithinOneYear 2025-04-30 10728309 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 10728309 d:Non-currentFinancialInstruments d:AfterOneYear 2025-04-30 10728309 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 10728309 d:ShareCapital 2025-04-30 10728309 d:ShareCapital 2024-04-30 10728309 d:InvestmentPropertiesRevaluationReserve 2024-05-01 2025-04-30 10728309 d:InvestmentPropertiesRevaluationReserve 2025-04-30 10728309 d:InvestmentPropertiesRevaluationReserve 2024-04-30 10728309 d:RetainedEarningsAccumulatedLosses 2024-05-01 2025-04-30 10728309 d:RetainedEarningsAccumulatedLosses 2025-04-30 10728309 d:RetainedEarningsAccumulatedLosses 2024-04-30 10728309 d:OtherDeferredTax 2025-04-30 10728309 d:OtherDeferredTax 2024-04-30 10728309 c:OrdinaryShareClass1 2024-05-01 2025-04-30 10728309 c:OrdinaryShareClass1 2025-04-30 10728309 c:OrdinaryShareClass1 2024-04-30 10728309 c:FRS102 2024-05-01 2025-04-30 10728309 c:AuditExempt-NoAccountantsReport 2024-05-01 2025-04-30 10728309 c:FullAccounts 2024-05-01 2025-04-30 10728309 c:PrivateLimitedCompanyLtd 2024-05-01 2025-04-30 10728309 2 2024-05-01 2025-04-30 10728309 f:PoundSterling 2024-05-01 2025-04-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 10728309










SALEM PROPERTY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2025

 
SALEM PROPERTY LIMITED
REGISTERED NUMBER:10728309

BALANCE SHEET
AS AT 30 APRIL 2025

2025
2024
Note
£
£

Fixed assets
  

Investment property
 5 
160,000
150,000

  
160,000
150,000

Current assets
  

Cash at bank and in hand
 6 
1,695
1,220

  
1,695
1,220

Creditors: amounts falling due within one year
 7 
(1,657)
(1,556)

Net current assets/(liabilities)
  
 
 
38
 
 
(336)

Total assets less current liabilities
  
160,038
149,664

Creditors: amounts falling due after more than one year
 8 
(101,585)
(104,234)

Provisions for liabilities
  

Deferred tax
 9 
(7,077)
(5,176)

  
 
 
(7,077)
 
 
(5,176)

Net assets
  
51,376
40,254


Capital and reserves
  

Called up share capital 
 10 
1
1

Investment property reserve
 11 
30,165
22,065

Profit and loss account
 11 
21,210
18,188

  
51,376
40,254

Page 1

 
SALEM PROPERTY LIMITED
REGISTERED NUMBER:10728309
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2025

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.

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 on 22 July 2025.




K J W Williams
Director

The notes on pages 3 to 8 form part of these financial statements.
Page 2

 
SALEM PROPERTY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025

1.


General information

Salem Property Limited, 10728309, is a private company limited by shares, incorporated in England and Wales, with its registered office and principal place of business at Salem Chapel, Cwm Nant Y Meichiaid, Llanfyllin, Powys, SY22 5LZ.
The principal activity of the Company is property rental.

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.

Page 3

 
SALEM PROPERTY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025

2.Accounting policies (continued)

 
2.4

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.


 
2.5

Investment property

Investment property is carried at fair value determined annually by the director 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 profit or loss

 
2.6

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.

 
2.7

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.

Page 4

 
SALEM PROPERTY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025

2.Accounting policies (continued)

 
2.8

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.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations or future events that are believed to be reasonable under the circumstances.
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. In the opinion of the directors there are no estimates nor assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.


4.


Employees

The average monthly number of employees, including directors, during the year was 1 (2024 - 1).
Page 5

 
SALEM PROPERTY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025

5.


Investment property


Freehold investment property

£



Valuation


At 1 May 2024
150,000


Surplus on revaluation
10,000



At 30 April 2025
160,000

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

2025
2024
£
£

Revaluation reserves


At 1 May 2024
22,065
13,965

Net surplus/(deficit) in movement properties
8,100
8,100

At 30 April 2025
30,165
22,065


2025
2024
£
£


Historic cost
122,759
122,759

122,759
122,759


6.


Cash and cash equivalents

2025
2024
£
£

Cash at bank and in hand
1,695
1,220

1,695
1,220


Page 6

 
SALEM PROPERTY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025

7.


Creditors: Amounts falling due within one year

2025
2024
£
£

Corporation tax
708
686

Accruals and deferred income
949
870

1,657
1,556



8.


Creditors: Amounts falling due after more than one year

2025
2024
£
£

Other creditors
101,585
104,234

101,585
104,234



9.


Deferred taxation




2025


£






At beginning of year
5,176


Charged to profit or loss
(1,900)



At end of year
7,076

The provision for deferred taxation is made up as follows:

2025
2024
£
£


On investment property
7,076
5,176

7,076
5,176

Page 7

 
SALEM PROPERTY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025

10.


Share capital

2025
2024
£
£
Allotted, called up and fully paid



100 (2024 - 100) Ordinary shares of £0.01 each
1
1



11.


Reserves

Investment property revaluation reserve

The investment property revaluation reserve consists of the property valuation to market value less any applicable deferred tax.

Profit and loss account

The profit and loss account consists of the accumulated profits of the Company, less distributions made to the shareholders.
 
Page 8