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Registered number: 03515716











BIRTLEY MEWS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024
















TWP ACCOUNTING LLP
Chartered Accountants & Statutory Auditors
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE

 
BIRTLEY MEWS LIMITED
REGISTERED NUMBER:03515716

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
39,634
48,713

  
39,634
48,713

Current assets
  

Debtors: amounts falling due within one year
 5 
2,433,529
2,440,221

Cash at bank and in hand
 6 
995
8,462

  
2,434,524
2,448,683

Creditors: amounts falling due within one year
 7 
(2,288,839)
(2,286,498)

Net current assets
  
 
 
145,685
 
 
162,185

Total assets less current liabilities
  
185,319
210,898

Provisions
  

Deferred tax
  
(9,908)
(12,178)

  
 
 
(9,908)
 
 
(12,178)

Net assets
  
175,411
198,720


Capital and reserves
  

Called up share capital 
  
4
4

Profit and loss account
  
175,407
198,716

  
175,411
198,720

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 comprehensive income 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 28 August 2025.




S Whalley
Director

The notes on pages 2 to 7 form part of these financial statements.
Page 1

 
BIRTLEY MEWS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

Birtley Mews Limited is a private company limited by shares Incorporated in England and Wales. The registered office is Birtley House, Birtley Road, Bramley, Guildford, Surrey, United Kingdom, GUS 0LB. The principal activity of the company continued to be that of the management of eight independent living apartments on the site of Birtley Nursing Home.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts In these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

 
2.2

Going concern

After reviewing the Company's forecasts and projections and taking into account the economic conditions  and possible changes in trading performance, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future.
In arriving at this assessment, the Directors have prepared detailed financial projections to July 2026  factoring in the recent reduced Bank of England interest rate, however have taken a precautionary view. 
The Directors have a good working relationship with their bank and have no reason to believe the bank's future support will change.  Bank covenants in the parent company are reviewed regularly to ensure these are not breached and at the date of signing these accounts no such instance has been noted.
The Board work with our local Care Association to build on the increasing awareness of the importance of care for the future and to identify and implement new models of care to meet the need for better integration with the NHS.
After considering the above matters and current trading, the Directors believe that the company will continue to have adequate resources to meets its liabilities as they fall due and so to operate as a going concern for at least  twelve months following the date of approval of these financial statements. The Directors therefore consider it appropriate to continue to apply the going concern basis for preparing the financial statements.

 
2.3

Revenue

Turnover comprises revenue recognised from the sale of apartment licences and service charges for services rendered during the period. The turnover for the apartment licence sale is recognised at the date of legal transfer from the vacating tenant to the new tenant, which is upon receipt of funds from the new tenant. The service charges are recognised in the period in which they relate.

Page 2

 
BIRTLEY MEWS LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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.

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:

Fixtures and fittings
-
10%
on cost

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.

 
2.6

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.

Page 3

 
BIRTLEY MEWS LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.7

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

 
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 has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity Instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities, Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Page 4

 
BIRTLEY MEWS LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.10

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2023 - 8).


4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 September 2023
95,578


Additions
479



At 31 August 2024

96,057



Depreciation


At 1 September 2023
46,865


Charge for the year on owned assets
9,558



At 31 August 2024

56,423



Net book value



At 31 August 2024
39,634



At 31 August 2023
48,713
Page 5

 
BIRTLEY MEWS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

5.


Debtors

2024
2023
£
£


Trade debtors
425
148

Amounts owed by group undertakings
2,431,478
2,439,961

Other debtors
259
112

Prepayments and accrued income
1,367
-

2,433,529
2,440,221



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
995
8,462

995
8,462



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
5,251
460

Amounts owed to group undertakings
2,201,454
2,207,473

Other creditors
58,200
58,031

Accruals and deferred income
23,934
20,534

2,288,839
2,286,498



8.


Share capital

2024
2023
£
£
Authorised, allotted, called up and fully paid



4 (2023 - 4) Ordinary shares of £1.00 each
4
4


Page 6

 
BIRTLEY MEWS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

9.


Contingent liabilities

The company has given security to Stevens & Bolton Trustees Limited over the proceeds of future sales of apartments by the company up to the value of the amounts received from the sales of apartments to the current residents. The aggregate of these amounts at 31 August 2024 was £3,390,000 (2023 - £3,425,000). The security given to Stevens & Bolton Trustees Limited shall be in priority to any other security given by the company to its bankers.
The company has entered into a cross guarantee with its bankers to secure the bank borrowings of its fellow group companies, Birtley House Group Ltd and Eyhurst Court Limited. The total exposure of the cross guarantee in respect of the company is £2,595,167 (2023 - £2,986,318).


10.


Related party transactions

The company has taken advantage of the 33.1A exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with the parent undertaking and its wholly owned subsidiaries.
During the year the company incurred expenditure of £1,578 (2023: £1,578) from a company under common control. At the year end the company owed £395 (2023: £132) to the company under common control.


11.


Controlling party

Birtley House Group Ltd owns 100% of the issued share capital of the company and is considered to be the ultimate parent company. Consolidated financial statements including the results of the company may be obtained from the parent company's registered office at Birtley House, Birtley Road, Bramley, Guildford, Surrey, GUS 0LB.
The ultimate controlling party are the directors by virtue of their controlling interest in the share capital of the ultimate parent company.

12.


Auditors' information

The auditors' report on the financial statements for the year ended 31 August 2024 was unqualified.

The audit report was signed on 28 August 2025 by Jonathan Graham (FCA) (Senior Statutory Auditor) on behalf of TWP Accounting LLP.

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. The audit work has been undertaken so that Auditors' might state to the company’s members those matters the Auditors' are required to state in an auditor’s report and for no other purpose. To the fullest extent permitted by law, TWP Accounting LLP will not accept or assume responsibility to anyone other than the company and the company’s members as a body, for the audit work, for the Independent Auditors' Report, or for the opinions formed.


Page 7