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Registered number: 03688567









CASLIN LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2024

 
CASLIN LIMITED
REGISTERED NUMBER: 03688567

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
2,520,072
2,520,072

Current assets
  

Debtors: amounts falling due within one year
 5 
3,531
924

Cash at bank and in hand
  
3,510
7,369

  
7,041
8,293

Current liabilities
  

Creditors: Amounts Falling Due Within One Year
 6 
(333,500)
(331,822)

Net current liabilities
  
 
 
(326,459)
 
 
(323,529)

Total assets less current liabilities
  
2,193,613
2,196,543

Provisions for liabilities
  

Deferred tax
  
(320,221)
(320,221)

Net assets
  
1,873,392
1,876,322


Capital and reserves
  

Called up share capital 
 8 
2
2

Revaluation reserve
 9 
1,453,758
1,453,758

Profit and loss account
 9 
419,632
422,562

  
1,873,392
1,876,322


Page 1

 
CASLIN LIMITED
REGISTERED NUMBER: 03688567
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

The director considers 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 director acknowledges his 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 27 August 2025.




A J Pozner
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

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

1.


General information

Caslin Limted is a private company limited by shares and incorporated in England. Its registered office Regina House,124 Finchley Road, London, NW3 5JS. The address of its principal place of business is 393-395 Hendon Way, London, NW4 3LP.

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

Revenue

Turnover represents rental income. Turnover is recognised at the fair value of the consideration received or receivable for the rental space provided in the normal course of business. The fair value of consideration takes into account trade discounts and rebates.

 
2.3

Interest income

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

 
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.

 
2.5

Borrowing costs

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

Page 3

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

2.Accounting policies (continued)

 
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

Investment property

Investment property is carried at fair value determined annually 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.

  
2.8

Debtors

Short term debtors are measured at transaction price, less any impairment.

  
2.9

Cash and cash equivalents

Cash at bank and in hand 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.

 
2.10

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.

Page 4

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

2.Accounting policies (continued)

 
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.

  
2.12

Functional currency

The company's functional and presentational currency is GBP.


3.


Employees

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


4.


Investment properties


Investment properties

£



Valuation


At 1 September 2023
2,520,072



At 31 August 2024
2,520,072

Investment properties comprises of freehold and long leasehold properties. The fair value of the investment properties have been arrived at on the basis of a valuation carried out on 31 August 2024 by directors. This valuation was based on third party professional input.



At 31 August 2024



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
810,404
810,404

Page 5

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

5.


Debtors

2024
2023
£
£


Prepayments
3,531
924



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
250,000
250,000

Other taxation and social security
564
29,264

Other creditors
76,043
45,828

Accruals and deferred income
6,893
6,730

333,500
331,822


The following liabilities were secured:

2024
2023
£
£



Bank loans
250,000
250,000

250,000
250,000

Details of security provided:

The bank loans are secured by a first legal charge over the properties owned by the company and a
debenture over the whole assets of the company.

Page 6

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

7.


Deferred taxation




2024


£






At beginning of year
(320,221)



At end of year
(320,221)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
320,221
320,221


8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2 (2023 - 2) Ordinary shares of £1.00 each
2
2



9.


Reserves

Other reserves

Includes amounts revalued on investment properties. This unrealised revaluation surplus does not form part of profits available for distribution. Provision for deferred tax on the surplus on revaluation of investment properties has been made in the financial statements and is included within this account.


10.


Related party transactions

During the year the company paid interest of £8,052 (2023: £24,000) on a loan amounting to £76,043 (2023: £45,828) to Hendon Way Motors Limited, a company owned by A J Pozner. 
Hendon Way Motors Limited charged a management fee amounting to £5,546 (2023: £5,801) to manage the company's properties.


11.


Post balance sheet events

Subsequent to the year end, the company completed the sale of a parcel of land for £413,910. The land was carried at £120,072 at 31 August 2024. The gain on sale will be recognised in the financial year ending 31 August 2025

 
Page 7