Caseware UK (AP4) 2024.0.164 2024.0.164 2024-08-312024-08-31truefalse2023-09-010falseNo description of principal activity0The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10118744 2023-09-01 2024-08-31 10118744 2022-09-01 2023-08-31 10118744 2024-08-31 10118744 2023-08-31 10118744 c:Director1 2023-09-01 2024-08-31 10118744 d:FreeholdInvestmentProperty 2023-09-01 2024-08-31 10118744 d:FreeholdInvestmentProperty 2024-08-31 10118744 d:FreeholdInvestmentProperty 2023-08-31 10118744 d:FreeholdInvestmentProperty 2 2023-09-01 2024-08-31 10118744 d:CurrentFinancialInstruments 2024-08-31 10118744 d:CurrentFinancialInstruments 2023-08-31 10118744 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 10118744 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 10118744 d:ShareCapital 2024-08-31 10118744 d:ShareCapital 2023-08-31 10118744 d:RetainedEarningsAccumulatedLosses 2024-08-31 10118744 d:RetainedEarningsAccumulatedLosses 2023-08-31 10118744 c:FRS102 2023-09-01 2024-08-31 10118744 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 10118744 c:FullAccounts 2023-09-01 2024-08-31 10118744 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 10118744 f:PoundSterling 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure

Registered number: 10118744









EPD CORNWALL STREET LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

 
EPD CORNWALL STREET LIMITED
REGISTERED NUMBER:10118744

BALANCE SHEET
AS AT 31 AUGUST 2024

As restated
2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
350,000
350,000

  
350,000
350,000

Current assets
  

Debtors: amounts falling due within one year
 5 
-
258

  
-
258

Creditors: amounts falling due within one year
 6 
(426,083)
(450,156)

Net current liabilities
  
 
 
(426,083)
 
 
(449,898)

Total assets less current liabilities
  
(76,083)
(99,898)

  

Net liabilities
  
(76,083)
(99,898)


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
(76,085)
(99,900)

  
(76,083)
(99,898)


Page 1

 
EPD CORNWALL STREET LIMITED
REGISTERED NUMBER:10118744
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 28 August 2025.




N Criado-Perez
Director

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

Page 2

 
EPD CORNWALL STREET LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

EPD Cornwall Street Limited is a private company, limited by guarantee, domiciled in England. The registered office is Unit 9 Dunchideock Barton, Dunchideock, Exeter, England, EX2 9UA.

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

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis. The Company supplements its day to day working capital requirements through loans from the shareholders, who have committed to support the Company for the foreseeable future. On this basis the Directors consider it appropriate to prepare the financial statements 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 3

 
EPD CORNWALL STREET LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.5

Taxation

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.


 
2.6

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.

 
2.7

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.

 
2.8

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” 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 trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
 
Page 4

 
EPD CORNWALL STREET LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)


2.9
Financial instruments (continued)

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees




The Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL).

Page 5

 
EPD CORNWALL STREET LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 September 2023
350,000


Additions at cost
2,627


Surplus on revaluation
(2,627)



At 31 August 2024
350,000

The 2024 valuations were made by the Company's Directors, based on similar sized property in the same area, on an open market value for existing use basis.





5.


Debtors

2024
2023
£
£


Prepayments and accrued income
-
258

-
258



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
-
10,230

Amounts owed to group undertakings
394,077
406,782

Other taxation and social security
1,047
1,929

Other creditors
23,700
23,700

Accruals and deferred income
7,259
7,515

426,083
450,156



7.


Prior year adjustment

A prior year adjustment was made to reclassify the negative investment property revaluation reserve, which has now been transferred to retained earnings. This adjustment does not affect the overall net assets or profit/loss of the company for either the current or prior periods.

Page 6

 
EPD CORNWALL STREET LIMITED
 
 
 Page 7