Caseware UK (AP4) 2024.0.164 2024.0.164 2024-03-312024-03-312false22023-04-01falseLetting and operating of leased real estatefalsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08505893 2023-04-01 2024-03-31 08505893 2022-04-01 2023-03-31 08505893 2024-03-31 08505893 2023-03-31 08505893 c:Director1 2023-04-01 2024-03-31 08505893 d:MotorVehicles 2023-04-01 2024-03-31 08505893 d:MotorVehicles 2024-03-31 08505893 d:MotorVehicles 2023-03-31 08505893 d:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 08505893 d:OtherPropertyPlantEquipment 2024-03-31 08505893 d:OtherPropertyPlantEquipment 2023-03-31 08505893 d:LeaseholdInvestmentProperty 2023-04-01 2024-03-31 08505893 d:LeaseholdInvestmentProperty 2024-03-31 08505893 d:LeaseholdInvestmentProperty 2023-03-31 08505893 d:LeaseholdInvestmentProperty 2 2023-04-01 2024-03-31 08505893 d:CurrentFinancialInstruments 2024-03-31 08505893 d:CurrentFinancialInstruments 2023-03-31 08505893 d:Non-currentFinancialInstruments 2024-03-31 08505893 d:Non-currentFinancialInstruments 2023-03-31 08505893 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 08505893 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 08505893 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 08505893 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 08505893 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 08505893 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 08505893 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 08505893 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 08505893 d:ShareCapital 2024-03-31 08505893 d:ShareCapital 2023-03-31 08505893 d:InvestmentPropertiesRevaluationReserve 2024-03-31 08505893 d:InvestmentPropertiesRevaluationReserve 2023-03-31 08505893 d:RetainedEarningsAccumulatedLosses 2024-03-31 08505893 d:RetainedEarningsAccumulatedLosses 2023-03-31 08505893 d:OtherDeferredTax 2024-03-31 08505893 d:OtherDeferredTax 2023-03-31 08505893 c:FRS102 2023-04-01 2024-03-31 08505893 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 08505893 c:FullAccounts 2023-04-01 2024-03-31 08505893 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08505893 f:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 08505893









WAYOUT PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
WAYOUT PROPERTIES LIMITED
REGISTERED NUMBER: 08505893

BALANCE SHEET
AS AT 31 MARCH 2024

2024
As restated 2023
Note
£
£

Fixed assets
  

Investment property
 5 
7,369,615
5,885,000

  
7,369,615
5,885,000

Current assets
  

Debtors
 6 
198,963
185,416

Cash at bank and in hand
 7 
13,851
550,091

  
212,814
735,507

Creditors: amounts falling due within one year
 8 
(59,508)
(68,966)

Net current assets
  
 
 
153,306
 
 
666,541

Total assets less current liabilities
  
7,522,921
6,551,541

Creditors: amounts falling due after more than one year
 9 
(5,912,757)
(5,281,242)

Provisions for liabilities
  

Deferred tax
 11 
(644,933)
(509,525)

  
 
 
(644,933)
 
 
(509,525)

Net assets
  
965,231
760,774


Capital and reserves
  

Called up share capital 
  
1
1

Investment property reserve
  
1,934,799
1,528,575

Profit and loss account
  
(969,569)
(767,802)

  
965,231
760,774

Page 1

 
WAYOUT PROPERTIES LIMITED
REGISTERED NUMBER: 08505893
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider 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 directors acknowledge their 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 profit and loss account 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: 




J Gostelow
Director

Date: 11 August 2025

The notes on pages 3 to 10 form part of these financial statements.
Page 2

 
WAYOUT PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Wayout Properties Limited is a company limited by shares and incorporated in England & Wales under the Companies Act 2006. The address of the registered office is 2 Eaton Gate, London, SW1W 9BJ

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

The company meets its day to day capital reuirements through the support of the director and investors. As a result the directors have adoptyed the going concern basis of accounting.

 
2.3

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.

 
2.4

Operating leases: the Company as lessor

Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.

Amounts paid and payable as an incentive to sign an operating lease are recognised as a reduction to income over the lease term on a straight-line basis, unless another systematic basis is representative of the time pattern over which the lessor's benefit from the leased asset is diminished.

Page 3

 
WAYOUT PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

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.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

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.


 
2.9

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.

Page 4

 
WAYOUT PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
20%
Other fixed assets
-
20%

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.

 
2.10

Investment property

Investment property is carried at fair value determined annually by external valuers 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 profit or loss.

 
2.11

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.

 
2.12

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.

 
2.13

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.

 
2.14

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.

Page 5

 
WAYOUT PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Tangible fixed assets





Motor vehicles
Other fixed assets
Total

£
£
£



Cost or valuation


At 1 April 2023
5,561
8,844
14,405



At 31 March 2024

5,561
8,844
14,405



Depreciation


At 1 April 2023
5,561
8,844
14,405



At 31 March 2024

5,561
8,844
14,405



Net book value



At 31 March 2024
-
-
-



At 31 March 2023
-
-
-

Page 6

 
WAYOUT PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Investment property


Long term leasehold investment property

£



Valuation


At 1 April 2023
5,885,000


Additions at cost
942,982


Surplus on revaluation
541,633



At 31 March 2024
7,369,615


Comprising


Cost
4,789,884

Annual revaluation surplus/(deficit):


2023
2,038,098

2024
541,633

At 31 March 2024
7,369,615

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

2024
2023
£
£

Revaluation reserves


At 1 April 2023
1,528,575
-

Net surplus/(deficit) in movement properties
406,224
1,528,575

At 31 March 2024
1,934,799
1,528,575




Page 7

 
WAYOUT PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Debtors


2024
2023
£
£



Trade debtors
600
-

Other debtors
198,363
185,416

198,963
185,416



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
13,851
550,091

13,851
550,091



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other loans
6,468
6,468

Trade creditors
4,067
10,877

Corporation tax
100
5

Other taxation and social security
-
1,214

Other creditors
44,873
50,402

Accruals and deferred income
4,000
-

59,508
68,966



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
7,140
13,182

Other creditors
5,905,617
5,268,060

5,912,757
5,281,242


Page 8

 
WAYOUT PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Other loans
6,468
6,468


6,468
6,468

Amounts falling due 1-2 years

Bank loans
6,468
6,468


6,468
6,468

Amounts falling due 2-5 years

Bank loans
672
6,714


672
6,714


13,608
19,650



11.


Deferred taxation




2024


£






At beginning of year
(509,525)


Charged to profit or loss
(135,408)



At end of year
(644,933)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Revaluations
(644,933)
(509,525)

(644,933)
(509,525)

Page 9

 
WAYOUT PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

12.


Related party transactions

Included in other debtors is an amount of £198,363 (2023: £185,416) owed by a related party. Included in other creditors is an amount of £33,214 (2023: £38,614) wed to a company under common control. Included in other creditors is an amount of £464,895 (2023: £635,640) owed to the directors. The loans are repayable on demand and no interest is charged.

 
Page 10