Caseware UK (AP4) 2024.0.164 2024.0.164 2025-03-31 2025-03-31 false true 2024-04-01 1 Property developers 1 true The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03515463 2024-04-01 2025-03-31 03515463 2023-04-01 2024-03-31 03515463 2025-03-31 03515463 2024-03-31 03515463 2023-04-01 03515463 c:Director1 2024-04-01 2025-03-31 03515463 d:PlantMachinery 2024-04-01 2025-03-31 03515463 d:PlantMachinery 2025-03-31 03515463 d:PlantMachinery 2024-03-31 03515463 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 03515463 d:MotorVehicles 2024-04-01 2025-03-31 03515463 d:MotorVehicles 2025-03-31 03515463 d:MotorVehicles 2024-03-31 03515463 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 03515463 d:OfficeEquipment 2024-04-01 2025-03-31 03515463 d:OfficeEquipment 2025-03-31 03515463 d:OfficeEquipment 2024-03-31 03515463 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 03515463 d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 03515463 d:CurrentFinancialInstruments 2025-03-31 03515463 d:CurrentFinancialInstruments 2024-03-31 03515463 d:CurrentFinancialInstruments d:WithinOneYear 2025-03-31 03515463 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 03515463 d:ShareCapital 2025-03-31 03515463 d:ShareCapital 2024-03-31 03515463 d:RetainedEarningsAccumulatedLosses 2024-04-01 2025-03-31 03515463 d:RetainedEarningsAccumulatedLosses 2025-03-31 03515463 d:RetainedEarningsAccumulatedLosses 2024-03-31 03515463 c:OrdinaryShareClass1 2024-04-01 2025-03-31 03515463 c:OrdinaryShareClass1 2025-03-31 03515463 c:OrdinaryShareClass1 2024-03-31 03515463 c:OrdinaryShareClass2 2024-04-01 2025-03-31 03515463 c:OrdinaryShareClass2 2025-03-31 03515463 c:OrdinaryShareClass2 2024-03-31 03515463 c:FRS102 2024-04-01 2025-03-31 03515463 c:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 03515463 c:FullAccounts 2024-04-01 2025-03-31 03515463 c:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 03515463 6 2024-04-01 2025-03-31 03515463 d:AcceleratedTaxDepreciationDeferredTax 2025-03-31 03515463 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 03515463 3 2025-03-31 03515463 3 2024-03-31 03515463 f:PoundSterling 2024-04-01 2025-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 03515463 SPRINGFIELD RESIDENTIAL LTD UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
SPRINGFIELD RESIDENTIAL LTD REGISTERED NUMBER: 03515463 BALANCE SHEET AS AT 31 MARCH 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 29,716 |  | 36,338
Investments | 5 |  | 2,982,000 |  | 2,982,000
|  |  | 3,011,716 |  | 3,018,338
Current assets |  |  |  |  |
Stocks | 6 | 2,975,576 |  | 2,608,842 |
Debtors: amounts falling due within one year | 7 | 7,669,255 |  | 6,852,275 |
Cash at bank and in hand | 8 | - |  | 3,722 |
|  | 10,644,831 |  | 9,464,839 |
Creditors: amounts falling due within one year | 9 | (11,974,695) |  | (10,750,319) |
Net current liabilities |  |  | (1,329,864) |  | (1,285,480)
Total assets less current liabilities |  |  | 1,681,852 |  | 1,732,858
Provisions for liabilities |  |  |  |  |
Deferred tax |  |  | (7,429) |  | (9,084)
Net assets |  |  | 1,674,423 |  | 1,723,774
Capital and reserves |  |  |  |  |
Called up share capital | 11 |  | 100 |  | 100
Profit and loss account | 12 |  | 1,674,323 |  | 1,723,674
|  |  | 1,674,423 |  | 1,723,774
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 Page 1
SPRINGFIELD RESIDENTIAL LTD REGISTERED NUMBER: 03515463 BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2025 9 September 2025.
B P Litman
Director
The notes on pages 3 to 9 form part of these financial statements. Page 2
SPRINGFIELD RESIDENTIAL LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. | General information
Springfield Residential Ltd ("the Company") is a private company limited by shares, incorporated in England and Wales. Its registered office is Unit 2 Kingsgate Court, Rayleigh Road, Leigh-On-Sea, SS9 5PS. The principal activity of the company during the year was that of property developers. 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
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.
| 2.3 | 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. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, provided on the following annual bases:
|  |  |  | Plant and machinery | - | 25% | reducing balance
|  |  |  | Motor vehicles | - | 25% | reducing balance
|  |  |  | Office equipment | - | 25% | reducing balance
| 2.4 | 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 the Statement of income and retained earnings.
| 2.5 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment. Page 3
SPRINGFIELD RESIDENTIAL LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.6 | Stocks and work in progress
Stocks and work in progress are valued at the lower of cost and net realisable value. Where work performed under a contingent fee arrangement is incomplete at the balance sheet date, the entity recognises the costs of work performed as work in progress at the period end in cases where it is considered probable that the contingent fee will be receivable. The entity shall recognise as an expense immediately any costs whose recovery is not probable.
| 2.7 | Debtors
Short term debtors are measured at transaction price, less any impairment.
| 2.8 | Creditors
Short term creditors are measured at transaction price.
| 2.9 | 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.
| 2.10 | 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. 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. 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. Basic 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. Page 4
SPRINGFIELD RESIDENTIAL LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.10 | Financial instruments (continued)
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. 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.
| 2.11 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of income and retained earnings 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. Page 5
SPRINGFIELD RESIDENTIAL LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
3. | Employees
| The average monthly number of employees, including directors, during the year was 1 (2024 - 1).
4. | Tangible fixed assets
|  | Plant and machinery | Motor vehicles | Office equipment | Total
|  | £ | £ | £ | £
| Cost |  |  |  |
| At 1 April 2024 | 100,335 | 26,670 | 1,859 | 128,864
| Additions | - | 3,470 | - | 3,470
| Disposals | (5,225) | (475) | - | (5,700)
| At 31 March 2025 | 95,110 | 29,665 | 1,859 | 126,634
| Depreciation |  |  |  |
| At 1 April 2024 | 71,211 | 20,292 | 1,023 | 92,526
| Charge for the year on owned assets | 7,272 | 2,424 | 209 | 9,905
| Disposals | (5,189) | (324) | - | (5,513)
| At 31 March 2025 | 73,294 | 22,392 | 1,232 | 96,918
| Net book value |  |  |  |
| At 31 March 2025 | 21,816 | 7,273 | 627 | 29,716
| At 31 March 2024 | 29,124 | 6,378 | 836 | 36,338
Page 6
SPRINGFIELD RESIDENTIAL LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
5. | Fixed asset investments
|  | Unlisted investments | Other fixed asset investments | Total
|  | £ | £ | £
| Cost |  |  |
| At 1 April 2024 | 2,917,000 | 65,000 | 2,982,000
| At 31 March 2025 | 2,917,000 | 65,000 | 2,982,000
| Net book value |  |  |
| At 31 March 2025 | 2,917,000 | 65,000 | 2,982,000
| At 31 March 2024 | 2,917,000 | 65,000 | 2,982,000
6. | Stocks
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Work in progress | 2,975,576 | 2,608,842
7. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts owed by joint ventures and associated undertakings | 7,652,944 | 6,822,075
| Other debtors | 4,251 | 18,104
| Prepayments and accrued income | 12,060 | 12,096
|  | 7,669,255 | 6,852,275
8. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | - | 3,722
Page 7
SPRINGFIELD RESIDENTIAL LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
9. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 38,600 | 104,351
| Amounts owed to group undertakings | 9,654,076 | 10,610,167
| Other taxation and social security | - | 1,880
| Other creditors | 2,276,353 | 27,183
| Accruals and deferred income | 5,666 | 6,738
|  | 11,974,695 | 10,750,319
10. | Deferred taxation
|  | 2025 | 2024
|  | £ | £
| At beginning of year | 9,084 | 7,383
| Charged to the Statement of income and retained earnings | (1,655) | 1,701
| At end of year | 7,429 | 9,084
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accelerated capital allowances | 7,429 | 9,084
11. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 90 (2024 - 90) Ordinary A shares of £1.00 each | 90 | 90
|  | 10 (2024 - 10) Ordinary B shares of £1.00 each | 10 | 10
|  |  | 100 | 100
Page 8
SPRINGFIELD RESIDENTIAL LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
12. | Reserves
Profit and loss account The Statement of income and retained earnings account represents cumulative distributable profits and losses net of dividends and other adjustments.
13. | Related party transactions
| Included within creditors at the end of the year there is an amount of £7,460,359 (2024 - £8,485,754) owed to its parent company, and £2,193,717 (2024 - £2,103,206) owed to fellow group entities. During the year the company paid management charges of £302,000 (2024 - £317,000) to a fellow group entity. Included within debtors at the end of the year there is an amount of £7,202,944 (2024 - £6,822,075) due from a fellow group entity. At the end of the year, the Company owed key management personnel £1,365,420 (2024 - £Nil).
14. | Parent undertaking and controlling party
Tower Radio Group Limited is the ultimate parent undertaking of the Company. The Company's registered office address is Unit 2 Kingsgate Court, Rayleigh Road, Leigh-On-Sea, SS9 5PS. The group considers its ultimate controlling party to be Mr B P Litman.
Page 9