Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-31false2024-01-01falseNo description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09914048 2024-01-01 2024-12-31 09914048 2023-01-01 2023-12-31 09914048 2024-12-31 09914048 2023-12-31 09914048 2023-01-01 09914048 6 2023-01-01 2023-12-31 09914048 d:Director1 2024-01-01 2024-12-31 09914048 e:LeaseholdInvestmentProperty 2024-12-31 09914048 e:LeaseholdInvestmentProperty 2023-12-31 09914048 e:CurrentFinancialInstruments 2024-12-31 09914048 e:CurrentFinancialInstruments 2023-12-31 09914048 e:Non-currentFinancialInstruments 2024-12-31 09914048 e:Non-currentFinancialInstruments 2023-12-31 09914048 e:CurrentFinancialInstruments e:WithinOneYear 2024-12-31 09914048 e:CurrentFinancialInstruments e:WithinOneYear 2023-12-31 09914048 e:Non-currentFinancialInstruments e:AfterOneYear 2024-12-31 09914048 e:Non-currentFinancialInstruments e:AfterOneYear 2023-12-31 09914048 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2024-12-31 09914048 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2023-12-31 09914048 e:Non-currentFinancialInstruments e:MoreThanFiveYears 2024-12-31 09914048 e:Non-currentFinancialInstruments e:MoreThanFiveYears 2023-12-31 09914048 e:ShareCapital 2024-01-01 2024-12-31 09914048 e:ShareCapital 2024-12-31 09914048 e:ShareCapital 2023-01-01 2023-12-31 09914048 e:ShareCapital 2023-12-31 09914048 e:ShareCapital 2023-01-01 09914048 e:RevaluationReserve 2024-01-01 2024-12-31 09914048 e:RevaluationReserve 2024-12-31 09914048 e:RevaluationReserve 2023-01-01 2023-12-31 09914048 e:RevaluationReserve 2023-12-31 09914048 e:RevaluationReserve 2023-01-01 09914048 e:RevaluationReserve 6 2023-01-01 2023-12-31 09914048 e:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 09914048 e:RetainedEarningsAccumulatedLosses 2024-12-31 09914048 e:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 09914048 e:RetainedEarningsAccumulatedLosses 2023-12-31 09914048 e:RetainedEarningsAccumulatedLosses 2023-01-01 09914048 e:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-12-31 09914048 e:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-12-31 09914048 d:FRS102 2024-01-01 2024-12-31 09914048 d:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 09914048 d:FullAccounts 2024-01-01 2024-12-31 09914048 d:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 09914048 e:OtherDeferredTax 2024-12-31 09914048 e:OtherDeferredTax 2023-12-31 09914048 5 2024-01-01 2024-12-31 09914048 f:PoundSterling 2024-01-01 2024-12-31 09914048 e:RetainedEarningsAccumulatedLosses 6 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: 09914048


ETHELRED PROPERTY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
ETHELRED PROPERTY LIMITED
REGISTERED NUMBER: 09914048

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2024
2023
2023
Note
£
£
£
£

Fixed assets
  

Investment property
 4 
560,000
560,000

  
560,000
560,000

Current assets
  

Cash at bank and in hand
 5 
2,600
9,116

  
2,600
9,116

Creditors: amounts falling due within one year
 6 
(178,861)
(170,992)

Net current liabilities
  
 
 
(176,261)
 
 
(161,876)

Total assets less current liabilities
  
383,739
398,124

Creditors: amounts falling due after more than one year
 7 
(366,598)
(370,443)

Provisions for liabilities
  

Deferred tax
 10 
(13,750)
(13,750)

  
 
 
(13,750)
 
 
(13,750)

Net assets
  
3,391
13,931


Capital and reserves
  

Called up share capital 
  
200
200

Revaluation reserve
 11 
55,000
55,000

Profit and loss account
 11 
(51,809)
(41,269)

  
3,391
13,931


Page 1

 
ETHELRED PROPERTY LIMITED
REGISTERED NUMBER: 09914048
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 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 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 by: 




................................................
A Hooper-Greenhill
Director

Date: 4 August 2025

The notes on pages 5 to 10 form part of these financial statements.

Page 2

 
ETHELRED PROPERTY LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 January 2024
200
55,000
(41,269)
13,931


Comprehensive income for the year

Loss for the year

-
-
(10,540)
(10,540)


Other comprehensive income for the year
-
-
-
-


Total comprehensive income for the year
-
-
(10,540)
(10,540)


Total transactions with owners
-
-
-
-


At 31 December 2024
200
55,000
(51,809)
3,391


The notes on pages 5 to 10 form part of these financial statements.

Page 3

 
ETHELRED PROPERTY LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 January 2023
200
-
(25,858)
(25,658)


Comprehensive income for the year

Loss for the year

-
-
(15,411)
(15,411)

Surplus on revaluation of leasehold property
-
55,000
-
55,000


Other comprehensive income for the year
-
55,000
-
55,000


Total comprehensive income for the year
-
55,000
(15,411)
39,589


Total transactions with owners
-
-
-
-


At 31 December 2023
200
55,000
(41,269)
13,931


The notes on pages 5 to 10 form part of these financial statements.

Page 4

 
ETHELRED PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Ethelred Property Limited is a company incorporated in England and Wales under the Companies Act 2006. The registered office address is shown on the Company Information page within these annual accounts.

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 recorded a loss of £10,540 (2023: £1,661) for the year ended 31 December 2024.
The company is being supported by the directors on a day-to-day basis. The directors are satisfied that they can continue to finance the operations of the business and enable the company to achieve profitability in the future. Accordingly, the directors consider it appropriate to prepare these accounts on a going concern basis.

 
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

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.

Page 5

 
ETHELRED PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.5

Borrowing costs

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

 
2.6

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.


 
2.7

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.8

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.

Page 6

 
ETHELRED PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.9

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.

 
2.10

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.

 
2.11

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.


Employees

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

Page 7

 
ETHELRED PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Investment property


Long term leasehold investment property

£



Valuation


At 1 January 2024
560,000



At 31 December 2024
560,000


Comprising


Cost
505,000

Annual revaluation surplus/(deficit):


2023
55,000

At 31 December 2024
560,000

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





5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
2,600
9,116

2,600
9,116



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
20,475
12,605

Other creditors
156,286
156,287

Accruals and deferred income
2,100
2,100

178,861
170,992


Page 8

 
ETHELRED PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
366,598
370,443

366,598
370,443



8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
20,475
12,605


20,475
12,605


Amounts falling due 2-5 years

Bank loans
83,605
51,470


83,605
51,470

Amounts falling due after more than 5 years

Bank loans
282,993
318,973

282,993
318,973

387,073
383,048


The above bank loan is secured against the freehold property and is in favour of Charter Court Financial Services Limited and The Mortgage Works (UK) plc.


9.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
2,600
2,600



Page 9

 
ETHELRED PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

10.


Deferred taxation




2024


£






At beginning of year
(13,750)



At end of year
(13,750)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Tax on revalued property
(13,750)
(13,750)

(13,750)
(13,750)


11.


Reserves

Revaluation reserve

The 2023 revaluation of the property was made by the Directors and has been reflected in the reserves position in the accounts.


12.


Related party transactions

The company owed £156,287 (2023: £156,287) to a related party as of the balance sheet date. No repayment terms have been agreed for this loan.

 
Page 10