Caseware UK (AP4) 2024.0.164 2024.0.164 2024-08-312024-08-312023-09-01falseNo description of principal activity33truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09168705 2023-09-01 2024-08-31 09168705 2022-09-01 2023-08-31 09168705 2024-08-31 09168705 2023-08-31 09168705 c:Director2 2023-09-01 2024-08-31 09168705 d:FreeholdInvestmentProperty 2024-08-31 09168705 d:FreeholdInvestmentProperty 2023-08-31 09168705 d:CurrentFinancialInstruments 2024-08-31 09168705 d:CurrentFinancialInstruments 2023-08-31 09168705 d:Non-currentFinancialInstruments 2024-08-31 09168705 d:Non-currentFinancialInstruments 2023-08-31 09168705 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 09168705 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 09168705 d:Non-currentFinancialInstruments d:AfterOneYear 2024-08-31 09168705 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 09168705 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-08-31 09168705 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-08-31 09168705 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-08-31 09168705 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-08-31 09168705 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-08-31 09168705 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-08-31 09168705 d:ShareCapital 2024-08-31 09168705 d:ShareCapital 2023-08-31 09168705 d:InvestmentPropertiesRevaluationReserve 2023-09-01 2024-08-31 09168705 d:InvestmentPropertiesRevaluationReserve 2024-08-31 09168705 d:InvestmentPropertiesRevaluationReserve 2023-08-31 09168705 d:RetainedEarningsAccumulatedLosses 2023-09-01 2024-08-31 09168705 d:RetainedEarningsAccumulatedLosses 2024-08-31 09168705 d:RetainedEarningsAccumulatedLosses 2023-08-31 09168705 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-08-31 09168705 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-08-31 09168705 c:FRS102 2023-09-01 2024-08-31 09168705 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 09168705 c:FullAccounts 2023-09-01 2024-08-31 09168705 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 09168705 e:PoundSterling 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure

Registered number:  09168705














WE3 PROPERTY SERVICES LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


 
WE3 PROPERTY SERVICES LIMITED
REGISTERED NUMBER: 09168705

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
770,000
770,000

  
770,000
770,000

Current assets
  

Cash at bank and in hand
 5 
3,891
10,657

  
3,891
10,657

Creditors: amounts falling due within one year
 6 
(155,252)
(163,911)

Net current liabilities
  
 
 
(151,361)
 
 
(153,254)

Total assets less current liabilities
  
618,639
616,746

Creditors: amounts falling due after more than one year
 7 
(310,032)
(311,628)

Provisions for liabilities
  

Deferred tax
  
(48,545)
(48,545)

  
 
 
(48,545)
 
 
(48,545)

Net assets
  
260,062
256,573


Capital and reserves
  

Called up share capital 
  
100
100

Investment property reserve
 10 
240,895
240,895

Profit and loss account
 10 
19,067
15,578

  
260,062
256,573


Page 1

 
WE3 PROPERTY SERVICES LIMITED
REGISTERED NUMBER: 09168705
    
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 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 29 August 2025.




M J Conway
Director

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

Page 2

 
WE3 PROPERTY SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

The company is a private company limited by shares, which is incorporated under the Companies Act 2006 and registered in England (no, 08927511). The address of the registered office is Unit 11 Wistaston Road Business Centre, Wistaston Road, Crewe, CW2 7RP.
These financial statements present information about the company as an individual undertaking; it is not a member of a group of companies. The principle activity of the company is property rental. 

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 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

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

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.

 
2.4

Borrowing costs

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

Page 3

 
WE3 PROPERTY SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.5

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.


 
2.6

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

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.

 
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.

Page 4

 
WE3 PROPERTY SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.9

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


4.


Investment property


Freehold investment property

£



Valuation


At 1 September 2023
770,000



At 31 August 2024
770,000


Comprising


Cost
480,560

Annual revaluation surplus/(deficit):


2021
289,440

At 31 August 2024
770,000

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




5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
3,891
10,657

3,891
10,657


Page 5

 
WE3 PROPERTY SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
3,396
5,117

Corporation tax
1,667
2,503

Other creditors
150,189
156,291

155,252
163,911


The bank loans above are secured on the underlying asset by a fixed and floating charge.


7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
310,032
311,628

310,032
311,628


The bank loans above are secured on the underlying asset by a fixed and floating charge.


8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
3,396
5,117

Amounts falling due 1-2 years

Bank loans
3,396
5,117

Amounts falling due 2-5 years

Bank loans
10,189
15,352

Amounts falling due after more than 5 years

Bank loans
296,447
291,159

313,428
316,745


Page 6

 
WE3 PROPERTY SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

9.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
3,893
10,657




Financial assets measured at fair value through profit or loss comprise of cash in bank.


10.


Reserves

Investment property revaluation reserve

Investment property revaluation reserve includes current year revaluations.

Profit & loss account

The profit and loss account represents all current and prior period retained profits and losses.


11.


Related party transactions


2024
2023
£
£

Amount due to related party
144,953
149,953
Amount due (from)/to a director
1,946
1,946


12.


Controlling party

The company is controlled by its Directors.

 
Page 7