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Registered number: 14009206










NORTH EAST 29 LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

 
NORTH EAST 29 LIMITED
REGISTERED NUMBER: 14009206

BALANCE SHEET
AS AT 31 MARCH 2025

2025
2024
Note
£
£

Fixed assets
  

Intangible assets
  
1,447
-

Investments
 5 
100
100

Investment property
 6 
870,000
396,844

  
871,547
396,944

Current assets
  

Debtors: amounts falling due within one year
 7 
-
7,680

Cash at bank and in hand
  
260,919
54,411

  
260,919
62,091

Creditors: amounts falling due within one year
 8 
(85,256)
(129,527)

Net current assets/(liabilities)
  
 
 
175,663
 
 
(67,436)

Total assets less current liabilities
  
1,047,210
329,508

Provisions for liabilities
  

Deferred tax
  
(64,588)
-

  
 
 
(64,588)
 
 
-

Net assets
  
982,622
329,508


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
982,522
329,408

  
982,622
329,508


Page 1

 
NORTH EAST 29 LIMITED
REGISTERED NUMBER: 14009206
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 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 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 on 31 July 2025.




Mr A Poole
Director

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

Page 2

 
NORTH EAST 29 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1.


General information

North East 29 Limited is a private company limited by shares, incorporated in England and Wales (registered number: 14009206). Its registered office is The Town Mission, Lower Rudyerd Street, North Shields, NE29 6NG. The principal activity of the Company throughout the year was that of letting and operating of real estate.

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 Company's functional and presentation currency is pounds sterling.

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.

Page 3

 
NORTH EAST 29 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.3

Current and deferred taxation

Tax is recognised in the Statement of Income and Retained Earnings.
The current 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.

 
2.4

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.5

Investment property

Investment property is carried at fair value determined annually by the Directors 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 Income and Retained Earnings.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 4

 
NORTH EAST 29 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.7

Financial instruments

The Company only enters into basic financial instrument 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, loans to related parties and investments in ordinary shares.
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 using 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 and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.


3.


Employees




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

Page 5

 
NORTH EAST 29 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

4.


Intangible assets




Website costs

£



Cost


Additions
1,796



At 31 March 2025

1,796



Amortisation


Charge for the year on owned assets
349



At 31 March 2025

349



Net book value



At 31 March 2025
1,447



At 31 March 2024
-




5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2024
100



At 31 March 2025
100




Page 6

 
NORTH EAST 29 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

6.


Investment property


Freehold investment property

£



Valuation


At 1 April 2024
396,844


Additions at cost
240,000


Disposals
(106,844)


Surplus on revaluation
340,000



At 31 March 2025
870,000

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






7.


Debtors

2025
2024
£
£


Trade debtors
-
7,680

-
7,680



8.


Creditors: Amounts falling due within one year

2025
2024
£
£

Amounts owed to group undertakings
-
28,503

Corporation tax
7,110
7,710

Other taxation and social security
207
24

Other creditors
73,466
89,249

Accruals and deferred income
4,473
4,041

85,256
129,527


 
Page 7