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Registered number: 04592491










LAMROSE PROPERTIES LIMITED










DIRECTOR'S REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
LAMROSE PROPERTIES LIMITED
 

CONTENTS



Page
Balance sheet
 
 
1
Notes to the financial statements
 
 
2 - 8


 
LAMROSE PROPERTIES LIMITED
REGISTERED NUMBER: 04592491

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2024
2023
2023
Note
£
£
£
£

Fixed assets
  

Investment property
 4 
6,450,000
6,450,000

Current assets
  

Debtors: amounts falling due within one year
 5 
34,066
153,614

Cash at bank and in hand
 6 
2,043,024
459,936

  
2,077,090
613,550

Creditors: amounts falling due within one year
 7 
(1,604,607)
(245,845)

Net current assets
  
 
 
472,483
 
 
367,705

Total assets less current liabilities
  
6,922,483
6,817,705

Creditors: amounts falling due after more than one year
 8 
(3,688,610)
(3,688,610)

Provisions for liabilities
  

Deferred tax
 10 
(125,397)
(125,397)

  
 
 
(125,397)
 
 
(125,397)

Net assets
  
3,108,476
3,003,698


Capital and reserves
  

Called up share capital 
 11 
10,000
10,000

Investment property reserve
 12 
1,353,917
1,353,917

Profit and loss account
 12 
1,744,559
1,639,781

  
3,108,476
3,003,698


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.


J. M. PATEL
Director

The notes on pages 2 to 8 form part of these financial statements.

Page 1

 
LAMROSE PROPERTIES LIMITED
 

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

1.ACCOUNTING POLICIES

 
1.1

Basis of preperation 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.

  
1.2

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.

 
1.3

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.

 
1.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
1.5

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.

 
1.6

Borrowing costs

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

Page 2

 
LAMROSE PROPERTIES LIMITED
 

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

1.ACCOUNTING POLICIES (CONTINUED)

 
1.7

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.


 
1.8

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.

 
1.9

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.

 
1.10

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.

 
1.11

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.

Page 3

 
LAMROSE PROPERTIES LIMITED
 

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

1.ACCOUNTING POLICIES (CONTINUED)

 
1.12

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.

 
1.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

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.


2.



JUDGMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the company's accounting policies, which are described in note 1, management is required to make judgments, estimated and assumptions about the carrying values of assets and liabilities that are not readily apparent from other factors that are considered to be relevant.  Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis.  revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods.  The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below.


3.


EMPLOYEES

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

Page 4

 
LAMROSE PROPERTIES LIMITED
 

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

4.


INVESTMENT PROPERTY


Freehold investment property
Long term leasehold investment property
Total

£
£
£



Valuation


At 1 January 2024
3,760,000
2,690,000
6,450,000



At 31 December 2024
3,760,000
2,690,000
6,450,000

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





5.


DEBTORS

2024
2023
£
£


Trade debtors
10,659
126,106

Other debtors
22,758
27,508

Prepayments and accrued income
649
-

34,066
153,614



6.


CASH AND CASH EQUIVALENTS

2024
2023
£
£

Cash at bank and in hand
2,043,024
459,936



7.


CREDITORS: Amounts falling due within one year

2024
2023
£
£

Trade creditors
25,606
5,370

Corporation tax
32,675
30,422

Other creditors
1,352,750
17,751

Accruals and deferred income
193,576
192,302

1,604,607
245,845


Page 5

 
LAMROSE PROPERTIES LIMITED
 

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

8.


CREDITORS: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
3,423,200
3,423,200

Other creditors
265,410
265,410

3,688,610
3,688,610



9.


LOANS


Analysis of the maturity of loans is given below:


2024
2023
£
£


Amounts falling due 1-2 years

Bank loans
3,423,200
3,423,200




Page 6

 
LAMROSE PROPERTIES LIMITED
 

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

10.


DEFERRED TAXATION




2024


£






At beginning of year
(125,397)



At end of year
(125,397)

2024
2023
£
£


Timing difference on investment property valuation
(125,397)
(125,397)

(125,397)
(125,397)


11.


SHARE CAPITAL

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



10,000 (2023 - 10,000) Ordinary shares of £1.00 each.
10,000
10,000



12.


RESERVES

Investment property revaluation reserve

Investment properties are carried at fair value with changes at each reporting date recognised in profit or loss. The revaluation reserve is a non distributable reserve to reflect the unrealised gains over and above the cost of investment properties less deferred tax arising on the gains. 

Profit & loss account

This includes all current and prior period retained profits and losses.


13.


COMMITMENTS UNDER OPERATING LEASES

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
14,500
14,500

14,500
14,500

Page 7

 
LAMROSE PROPERTIES LIMITED
 

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

14.


AUDITORS' INFORMATION

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

The audit report was signed on 28 August 2025 by Jerry Michael (Senior statutory auditor) on behalf of BAGINSKY COHEN.


Page 8