Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-31 2024-12-31 2 2 2024-01-01 false true true The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07705252 2024-01-01 2024-12-31 07705252 2023-01-01 2023-12-31 07705252 2024-12-31 07705252 2023-12-31 07705252 2023-01-01 07705252 5 2024-01-01 2024-12-31 07705252 1 2024-01-01 2024-12-31 07705252 e:Director1 2024-01-01 2024-12-31 07705252 d:Buildings 2024-01-01 2024-12-31 07705252 d:Buildings 2024-12-31 07705252 d:Buildings 2023-12-31 07705252 d:Buildings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 07705252 d:FurnitureFittings 2024-01-01 2024-12-31 07705252 d:FurnitureFittings 2024-12-31 07705252 d:FurnitureFittings 2023-12-31 07705252 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 07705252 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 07705252 d:CurrentFinancialInstruments 2024-12-31 07705252 d:CurrentFinancialInstruments 2023-12-31 07705252 d:Non-currentFinancialInstruments 2024-12-31 07705252 d:Non-currentFinancialInstruments 2023-12-31 07705252 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 07705252 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 07705252 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 07705252 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 07705252 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-12-31 07705252 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 07705252 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-12-31 07705252 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 07705252 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-12-31 07705252 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-12-31 07705252 d:ShareCapital 2024-12-31 07705252 d:ShareCapital 2023-12-31 07705252 d:ShareCapital 2023-01-01 07705252 d:RevaluationReserve 2024-01-01 2024-12-31 07705252 d:RevaluationReserve 2024-12-31 07705252 d:RevaluationReserve 5 2024-01-01 2024-12-31 07705252 d:RevaluationReserve 2023-01-01 2023-12-31 07705252 d:RevaluationReserve 2023-12-31 07705252 d:RevaluationReserve 2023-01-01 07705252 d:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 07705252 d:RetainedEarningsAccumulatedLosses 2024-12-31 07705252 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 07705252 d:RetainedEarningsAccumulatedLosses 2023-12-31 07705252 d:RetainedEarningsAccumulatedLosses 2023-01-01 07705252 d:AcceleratedTaxDepreciationDeferredTax 2024-12-31 07705252 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 07705252 e:OrdinaryShareClass1 2024-01-01 2024-12-31 07705252 e:OrdinaryShareClass1 2024-12-31 07705252 e:FRS102 2024-01-01 2024-12-31 07705252 e:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 07705252 e:FullAccounts 2024-01-01 2024-12-31 07705252 e:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 07705252 2 2024-01-01 2024-12-31 07705252 4 2024-01-01 2024-12-31 07705252 6 2024-01-01 2024-12-31 07705252 f:PoundSterling 2024-01-01 2024-12-31 07705252 d:RetainedEarningsAccumulatedLosses 5 2024-01-01 2024-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 07705252 NEW YORK ASSOCIATES LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2024
NEW YORK ASSOCIATES LIMITED CONTENTS
| Page
Balance Sheet | 1 - 2
Statement of Changes in Equity | 3
Notes to the Financial Statements | 4 - 12
NEW YORK ASSOCIATES LIMITED REGISTERED NUMBER: 07705252 BALANCE SHEET AS AT 31 DECEMBER 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 13,440,238 |  | 9,170,317
Investments | 5 |  | 900 |  | 900
|  |  | 13,441,138 |  | 9,171,217
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 6 | 257,113 |  | 312,715 |
Cash at bank and in hand |  | 23,584 |  | 93,040 |
|  | 280,697 |  | 405,755 |
Creditors: amounts falling due within one year | 7 | (4,163,069) |  | (1,718,912) |
Net current liabilities |  |  | (3,882,372) |  | (1,313,157)
Total assets less current liabilities |  |  | 9,558,766 |  | 7,858,060
Creditors: amounts falling due after more than one year | 8 |  | (6,166) |  | (2,789,967)
Provisions for liabilities |  |  |  |  |
Deferred tax |  |  | (965,160) |  | (61,295)
Net assets |  |  | 8,587,440 |  | 5,006,798
Capital and reserves |  |  |  |  |
Called up share capital | 11 |  | 400 |  | 400
Revaluation reserve | 12 |  | 4,952,445 |  | 1,731,310
Profit and loss account | 12 |  | 3,634,595 |  | 3,275,088
|  |  | 8,587,440 |  | 5,006,798
Page 1
NEW YORK ASSOCIATES LIMITED REGISTERED NUMBER: 07705252 BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 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 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 by:
A J Howe-Davies
Director
Date: 27 October 2025
The notes on pages 4 to 12 form part of these financial statements. Page 2
NEW YORK ASSOCIATES LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2024
| Called up share capital | Revaluation reserve | Profit and loss account | Total equity
| £ | £ | £ | £
At 1 January 2023 | 400 | 1,737,279 | 3,159,221 | 4,896,900
Profit for the year | - | - | 109,898 | 109,898
Transfer to/from profit and loss account | - | (5,969) | 5,969 | -
At 1 January 2024 | 400 | 1,731,310 | 3,275,088 | 5,006,798
Loss for the year | - | - | (544,358) | (544,358)
Surplus on revaluation of freehold properties | - | 4,125,000 | - | 4,125,000
Transfer to/from profit and loss account | - | (903,865) | 903,865 | -
At 31 December 2024 | 400 | 4,952,445 | 3,634,595 | 8,587,440
| The notes on pages 4 to 12 form part of these financial statements.
Page 3
NEW YORK ASSOCIATES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. | General information
New York Associates Limited is a private company, limited by shares, and is incorporated in England and Wales. The address of its registered office is Unit A, Accounts Dept Genesis Business Estate, Rainsford Road, London, NW10 7RG. The financial statements are presented in Pounds Sterling which is the functional currency of the Company. 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 | Exemption from preparing consolidated financial statements
The Company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and group are considered eligible for the exemption to prepare consolidated accounts.
| 2.3 | Government grants
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.
| 2.4 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.5 | 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. Page 4
NEW YORK ASSOCIATES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 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 | Exceptional items
Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.
| 2.8 | 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. The Financial Reporting Standard (FRS) states that all assets with a finite life must be depreciated over their useful economic lives. The directors are of the opinion that the residual value of freehold property will remain at least equal to the valuation shown in the financial statements due to their policy of regular repairs and renovations. On this basis no charge is made in respect of freehold property. Although the Companies Act requires all fixed assets to be depreciated, the directors consider a departure is necessary in order for the financial statements to show a true and fair view. The company recognises property rented to another group entity in property, plant and equipment. Freehold land and buildings are carried at revalued amounts, being fair value at the date of the most recent revaluation less any subsequent depreciation and impairment. Land is not depreciated. Page 5
NEW YORK ASSOCIATES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.8 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives. Depreciation is provided on the following basis:
|  |  |  | Fixtures and fittings | - | 25% | reducing balance
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.
| 2.9 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment.
| 2.10 | 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.
| 2.11 | 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.
| 2.12 | 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.
| 2.13 | 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.
| 2.14 | 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 Page 6
NEW YORK ASSOCIATES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.14 | Financial instruments (continued)
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 receivables, cash and bank balances, are initially measured at their transaction price including transaction costs 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. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. 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 payables, bank loans and other loans are initially measured at their transaction price after transaction costs. 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. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables 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. Derecognition of financial assets Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the Page 7
NEW YORK ASSOCIATES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.14 | Financial instruments (continued)
risks and rewards retained. Derecognition of financial liabilities Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
3. | Employees
| The average monthly number of employees, including directors, during the year was 2 (2023 - 2).
4. | Tangible fixed assets
|  | Freehold properties | Fixtures and fittings | Total
|  | £ | £ | £
| Cost or valuation |  |  |
| At 1 January 2024 | 9,170,000 | 9,254 | 9,179,254
| Additions | 145,000 | - | 145,000
| Revaluations | 4,125,000 | - | 4,125,000
| At 31 December 2024 | 13,440,000 | 9,254 | 13,449,254
| Depreciation |  |  |
| At 1 January 2024 | - | 8,937 | 8,937
| Charge for the year on owned assets | - | 79 | 79
| At 31 December 2024 | - | 9,016 | 9,016
| Net book value |  |  |
| At 31 December 2024 | 13,440,000 | 238 | 13,440,238
| At 31 December 2023 | 9,170,000 | 317 | 9,170,317
Page 8
NEW YORK ASSOCIATES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 4.Tangible fixed assets (continued)
| In the prior year (2023), the company elected to apply the transitional exemption to use fair value as deemed cost for its freehold properties. During the year ended 31 December 2024, the directors revalued the company’s freehold properties. The valuations were carried out by the directors, who have appropriate knowledge of the properties and the local property market. The valuations were based on market value in existing use. The revaluation resulted in an increase of £4,125,000 (2023: £nil), which has been credited to the Revaluation Reserve within equity. At 31 December 2024 the cost of freehold properties was £7,522,396 (2023 - £7,377,396).
5. | Fixed asset investments
|  | Investments in subsidiary companies
|  | £
| Cost or valuation |
| At 1 January 2024 | 900
| At 31 December 2024 | 900
6. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade debtors | 18,860 | 2,583
| Amounts owed by group undertakings | - | 309,586
| Other debtors | 232,381 | -
| Prepayments and accrued income | 5,872 | 546
|  | 257,113 | 312,715
Page 9
NEW YORK ASSOCIATES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Bank loans | 2,567,376 | 270,143
| Trade creditors | 2,486 | 336
| Amounts owed to group undertakings | 1,321,747 | 1,425,427
| Other taxation and social security | 10,550 | 7,965
| Other creditors | 250,000 | 7,865
| Accruals and deferred income | 10,910 | 7,176
|  | 4,163,069 | 1,718,912
8. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Bank loans | 6,166 | 2,539,967
| Other creditors | - | 250,000
|  | 6,166 | 2,789,967
9. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Amounts falling due within one year |  |
| Bank loans | 2,567,376 | 270,143
| Amounts falling due 1-2 years |  |
| Bank loans | 6,166 | 277,177
| Amounts falling due 2-5 years |  |
| Bank loans | - | 848,817
| Amounts falling due after more than 5 years |  |
| Bank loans | - | 1,413,973
|  | 2,573,542 | 2,810,110
| The aggregate bank loans of £2,557,022 (2023 - £2,783,496) are secured by way of debentures and a first legal charge over the properties. There is also an unlimited multilateral guarantee given to the bank by New York Associates Limited and its subsidiaries, RDW Scenery Construction Limited, The Stockyard Limited and The Scenedock Associates Limited.
Page 10
NEW YORK ASSOCIATES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
10. | Deferred taxation
|  | 2024
|  | £
| At beginning of year | (61,295)
| Charged to other comprehensive income | (903,865)
| At end of year | (965,160)
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Arising upon revaluation of freehold properties | (965,160) | (61,295)
11. | Share capital
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
|  | Authorised, allotted, called up and fully paid |  |
|  | 400 Ordinary shares of £1 each | 400 | 400
12. | Reserves
Revaluation reserve The revaluation reserve comprises cumulative unrealised surpluses and deficits on the revaluation of properties to their fair value before being transferred to freehold property at their deemed cost at the time of transfer. Profit and loss account The Profit and loss account represents realised profits and deficits to date, less any distributions. 13.Directors' personal guarantees A J Howe-Davies has given a joint and several guarantee of £200,000 (2023 - £200,000) in respect of the bank borrowings. Page 11
NEW YORK ASSOCIATES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
14. | Related party transactions
| The company has taken advantage of the exemption afforded by FRS 102 not to disclose transactions or balances with other wholly owned members of the group. During the year, the company charged rent to its subsidiary undertakings in respect of properties owned on terms not considered arm’s length. The total rent charged during the year amounted to £428,580 (2023 - £372,000). At 31 December 2024 the company owed £125,000 to A J Howe-Davies (2023 - £125,000).
15. | Post balance sheet events
Subsequent to the year end, in January and February 2025, the company redeemed its existing bank loans totalling £2,573,540 and entered into new financing arrangements with the bank for loans totalling £3,439,000.
16. | Ultimate controlling party
Until 20 March 2024, the company was not under the control of any one individual or entity. From 21 March 2024, the company has been under the control of Andrew Howe-Davies, the director of the company, by virtue of his majority shareholding.
Page 12