Caseware UK (AP4) 2024.0.164 2024.0.164 2025-01-312025-01-312024-02-01falseOther letting and operating of own or leased real estatetrue22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11797627 2024-02-01 2025-01-31 11797627 2023-02-01 2024-01-31 11797627 2025-01-31 11797627 2024-01-31 11797627 c:Director2 2024-02-01 2025-01-31 11797627 d:FreeholdInvestmentProperty 2025-01-31 11797627 d:FreeholdInvestmentProperty 2024-01-31 11797627 d:FreeholdInvestmentProperty 2 2024-02-01 2025-01-31 11797627 d:CurrentFinancialInstruments 2025-01-31 11797627 d:CurrentFinancialInstruments 2024-01-31 11797627 d:CurrentFinancialInstruments d:WithinOneYear 2025-01-31 11797627 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 11797627 d:ShareCapital 2025-01-31 11797627 d:ShareCapital 2024-01-31 11797627 d:RetainedEarningsAccumulatedLosses 2024-02-01 2025-01-31 11797627 d:RetainedEarningsAccumulatedLosses 2025-01-31 11797627 d:RetainedEarningsAccumulatedLosses 2024-01-31 11797627 d:OtherDeferredTax 2025-01-31 11797627 d:OtherDeferredTax 2024-01-31 11797627 c:FRS102 2024-02-01 2025-01-31 11797627 c:AuditExempt-NoAccountantsReport 2024-02-01 2025-01-31 11797627 c:FullAccounts 2024-02-01 2025-01-31 11797627 c:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 11797627 f:PoundSterling 2024-02-01 2025-01-31 iso4217:GBP xbrli:pure

Registered number: 11797627










LETS NETHER EDGE LTD








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

 
LETS NETHER EDGE LTD
REGISTERED NUMBER: 11797627

BALANCE SHEET
AS AT 31 JANUARY 2025

2025
2024
Note
£
£

Fixed assets
  

Investment property
 4 
350,000
255,366

Current assets
  

Debtors: amounts falling due within one year
 5 
1,367
-

Cash at bank and in hand
  
18,363
16,327

  
19,730
16,327

Creditors: amounts falling due within one year
 6 
(229,618)
(231,225)

Net current liabilities
  
 
 
(209,888)
 
 
(214,898)

Provisions for liabilities
  

Deferred tax
 7 
(17,980)
-

Net assets
  
122,132
40,468


Capital and reserves
  

Called up share capital 
  
10
10

Profit and loss account
 8 
122,122
40,458

  
122,132
40,468


Page 1

 
LETS NETHER EDGE LTD
REGISTERED NUMBER: 11797627
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2025

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 on 21 August 2025.




S J Power
Director

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

Page 2

 
LETS NETHER EDGE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

1.


General information

Lets Nether Edge Limited is a private company limited by shares, incorporated in England and Wales (registered number: 11797627). Its registered office is 16 Brincliffe Gardens, Sheffield, South Yorkshire, S11 9BG. The principal activity 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.

 
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.

Page 3

 
LETS NETHER EDGE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

2.Accounting policies (continued)

 
2.4

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.

 
2.5

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade receivables and payables, 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,  the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
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 2 (2024 - 2).


4.


Investment property


Freehold investment property

£



Valuation


At 1 February 2024
255,366


Surplus on revaluation
94,634



At 31 January 2025
350,000

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




Page 4

 
LETS NETHER EDGE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

5.


Debtors

2025
2024
£
£


Accrued income
1,367
-



6.


Creditors: Amounts falling due within one year

2025
2024
£
£

Corporation tax
1,158
2,434

Other creditors
227,500
227,500

Accruals
960
1,291

229,618
231,225


Page 5

 
LETS NETHER EDGE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

7.


Deferred taxation




2025


£






Charged to profit or loss
17,980



At end of year
17,980

The deferred taxation balance is made up as follows:

2025
2024
£
£


Capital gains
17,980
-


8.


Reserves

Profit and loss account

Both previous UK GAAP and FRS 102 require investment properties to be stated in the accounts at their current market value, with no annual depreciation charge. However, whilst previous UK GAAP stipulated that the surplus on revaluation of the property should be held in a revaluation reserve, which, being an unrealised surplus, did not form part of the Company's distrbutable reserves, FRS 102 requires that these surpluses, although still not distributable, be charged through the Statement of Income and Retained Earnings. 
Consequently, the Profit and Loss reserve at 31st January 2025 includes a non-distributable amount of £76,654 (2024: £NIL).

 
Page 6