Caseware UK (AP4) 2024.0.164 2024.0.164 2024-06-302024-06-302023-07-01false1No description of principal activityfalsetrue1trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08921052 2023-07-01 2024-06-30 08921052 2022-07-01 2023-06-30 08921052 2024-06-30 08921052 2023-06-30 08921052 c:Director1 2023-07-01 2024-06-30 08921052 d:FreeholdInvestmentProperty 2024-06-30 08921052 d:FreeholdInvestmentProperty 2023-06-30 08921052 d:FreeholdInvestmentProperty 2 2023-07-01 2024-06-30 08921052 d:CurrentFinancialInstruments 2024-06-30 08921052 d:CurrentFinancialInstruments 2023-06-30 08921052 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 08921052 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 08921052 d:ShareCapital 2024-06-30 08921052 d:ShareCapital 2023-06-30 08921052 d:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 08921052 d:RetainedEarningsAccumulatedLosses 2024-06-30 08921052 d:RetainedEarningsAccumulatedLosses 2023-06-30 08921052 c:FRS102 2023-07-01 2024-06-30 08921052 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 08921052 c:FullAccounts 2023-07-01 2024-06-30 08921052 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 08921052 f:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 08921052









84 MORNING LANE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

 
84 MORNING LANE LIMITED
REGISTERED NUMBER: 08921052

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2023
£
£

Fixed assets
  

Investment property
 4 
630,000
645,000

  
630,000
645,000

Current assets
  

Debtors: amounts falling due within one year
 5 
2
2

  
2
2

Current liabilities
  

Creditors: Amounts Falling Due Within One Year
 6 
(1,558,798)
(1,389,371)

Net current liabilities
  
 
 
(1,558,796)
 
 
(1,389,369)

Total assets less current liabilities
  
(928,796)
(744,369)

  

Net liabilities
  
(928,796)
(744,369)


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
 7 
(928,798)
(744,371)

  
(928,796)
(744,369)


Page 1

 
84 MORNING LANE LIMITED
REGISTERED NUMBER: 08921052
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2024

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.




David Jeffrey Basrawy
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
84 MORNING LANE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

The company is registered in England & Wales and its registered number is 08921052. The company is a private company limited by shares. Its registered office is 124 Finchley Road, London, NW3 5JS.

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

Going concern

At the reporting date, the company had net liabilities of £928,796. The company is dependent on the continued financial support of its director and creditors who have confirmed their intention to support the company. On the basis of the aforementioned support, the director considers it appropriate to prepare the company's financial statements on the going concern basis.
After reviewing the company's forecasts and projections, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements, but with the proviso that a material uncertainly exists over the company’s future.

 
2.3

Foreign currency translation

Functional and presentation currency
The Company's functional and presentational currency is GBP.

 
2.4

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.
Investment property are leased to tenants under operating leases. The rental income receivable under these leases is recognised through profit and loss on a straight line basis over the term of the lease. Any rent-free period is spread over the period of the lease. Since the risks and rewards of ownership have not been transferred to the lessee, the assets held under these leases continue to be recognised in the company's financial statements.

 
2.5

Borrowing costs

All borrowing costs are recognised in the statement of income and retained earnings in the year in which they are incurred.

Page 3

 
84 MORNING LANE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.6

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 income and retained earnings.

 
2.7

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.

 
2.8

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

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 non-puttable 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 4

 
84 MORNING LANE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 July 2023
645,000


Surplus/(deficit) on revaluation
(15,000)



At 30 June 2024
630,000

The 2024 valuations were made by the director, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
643,196
643,196

643,196
643,196


5.


Debtors

2024
2023
£
£


Called up share capital not paid
2
2

2
2


Page 5

 
84 MORNING LANE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other loans
1,425,017
1,257,590

Other creditors
127,281
127,281

Accruals and deferred income
6,500
4,500

1,558,798
1,389,371


The amounts included within bank loans and other loans are secured by a fixed and floating charge over the assets of the company.


7.


Reserves

Profit and loss account

Included in reserves carried forward are unrealised losses of £13,196 (2023: £1,804 gains) relating to the revaluation of investment property. Accordingly, there are non-distributable reserves of £(13,196) (2023: £1,804) included in retained earnings carried forward.

 
Page 6