Caseware UK (AP4) 2025.0.111 2025.0.111 2024-12-31 2024-12-31 16852302 16200000 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. true 2024-01-01 false No description of principal activity 4 4 false false 10999848 2024-01-01 2024-12-31 10999848 2023-01-01 2023-12-31 10999848 2024-12-31 10999848 2023-12-31 10999848 2023-01-01 10999848 2 2024-01-01 2024-12-31 10999848 7 2024-01-01 2024-12-31 10999848 7 2023-01-01 2023-12-31 10999848 d:Director1 2024-01-01 2024-12-31 10999848 e:PlantMachinery 2024-01-01 2024-12-31 10999848 e:PlantMachinery 2024-12-31 10999848 e:PlantMachinery 2023-12-31 10999848 e:PlantMachinery e:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 10999848 e:FreeholdInvestmentProperty 2024-01-01 2024-12-31 10999848 e:FreeholdInvestmentProperty 2024-12-31 10999848 e:FreeholdInvestmentProperty 2023-12-31 10999848 e:FreeholdInvestmentProperty 2 2024-01-01 2024-12-31 10999848 e:CurrentFinancialInstruments 2024-12-31 10999848 e:CurrentFinancialInstruments 2023-12-31 10999848 e:CurrentFinancialInstruments e:WithinOneYear 2024-12-31 10999848 e:CurrentFinancialInstruments e:WithinOneYear 2023-12-31 10999848 e:ShareCapital 2024-01-01 2024-12-31 10999848 e:ShareCapital 2024-12-31 10999848 e:ShareCapital 2023-01-01 2023-12-31 10999848 e:ShareCapital 2023-12-31 10999848 e:ShareCapital 2023-01-01 10999848 e:OtherMiscellaneousReserve 2024-01-01 2024-12-31 10999848 e:OtherMiscellaneousReserve 2024-12-31 10999848 e:OtherMiscellaneousReserve 2023-01-01 2023-12-31 10999848 e:OtherMiscellaneousReserve 2023-12-31 10999848 e:OtherMiscellaneousReserve 2023-01-01 10999848 e:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 10999848 e:RetainedEarningsAccumulatedLosses 2024-12-31 10999848 e:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 10999848 e:RetainedEarningsAccumulatedLosses 2023-12-31 10999848 e:RetainedEarningsAccumulatedLosses 2023-01-01 10999848 e:OtherDeferredTax 2024-12-31 10999848 e:OtherDeferredTax 2023-12-31 10999848 d:OrdinaryShareClass1 2024-01-01 2024-12-31 10999848 d:OrdinaryShareClass1 2024-12-31 10999848 d:OrdinaryShareClass1 2023-12-31 10999848 d:FRS102 2024-01-01 2024-12-31 10999848 d:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 10999848 d:FullAccounts 2024-01-01 2024-12-31 10999848 d:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 10999848 2 2024-01-01 2024-12-31 10999848 e:Right-of-useInvestmentProperty 2024-01-01 2024-12-31 10999848 e:Right-of-useInvestmentProperty 2024-12-31 10999848 e:Right-of-useInvestmentProperty 2023-12-31 10999848 e:Right-of-useInvestmentProperty 2 2024-01-01 2024-12-31 10999848 f:PoundSterling 2024-01-01 2024-12-31 10999848 e:RetainedEarningsAccumulatedLosses 7 2024-01-01 2024-12-31 10999848 e:RetainedEarningsAccumulatedLosses 7 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10999848 GSE COMMERCIAL ESTATES LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2024
GSE COMMERCIAL ESTATES LIMITED REGISTERED NUMBER: 10999848 BALANCE SHEET AS AT 31 DECEMBER 2024
|  | 2024 |  | 2023
|  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 13,308 |  | 18,299
Investment property | 5 |  | 8,426,151 |  | 8,100,000
|  |  | 8,439,459 |  | 8,118,299
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 6 | 5,477,238 |  | 4,645,772 |
Cash at bank and in hand | 7 | 45,121 |  | 89,737 |
|  | 5,522,359 |  | 4,735,509 |
Creditors: amounts falling due within one year | 8 | (8,991,314) |  | (7,498,243) |
Net current liabilities |  |  | (3,468,955) |  | (2,762,734)
Total assets less current liabilities |  |  | 4,970,504 |  | 5,355,565
Provisions for liabilities |  |  |  |  |
Deferred tax |  | (993,309) |  | (937,059) |
|  |  | (993,309) |  | (937,059)
Net assets |  |  | £3,977,195 |  | £4,418,506
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 1 |  | 1
Other reserves | 11 |  | 2,979,928 |  | 2,811,178
Profit and loss account | 11 |  | 997,266 |  | 1,607,327
|  |  | £3,977,195 |  | £4,418,506
Page 1
GSE COMMERCIAL ESTATES LIMITED REGISTERED NUMBER: 10999848 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 on 4 June 2026.
___________________________ Mr D M Healey
Director
The notes on pages 5 to 11 form part of these financial statements. Page 2
GSE COMMERCIAL ESTATES LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2024
| Called up share capital | Other reserves | Profit and loss account | Total equity
| £ | £ | £ | £
At 1 January 2024 | 1 | 2,811,178 | 1,607,327 | 4,418,506
Comprehensive income for the year |  |  |  |
Loss for the year | - | - | (441,311) | (441,311)
Fair value adjustments | - | - | (168,750) | (168,750)
Other comprehensive income for the year | - | - | (168,750) | (168,750)
Total comprehensive income for the year | - | - | (610,061) | (610,061)
Contributions by and distributions to owners |  |  |  |
Transfer to/from profit and loss account | - | 168,750 | - | 168,750
Total transactions with owners | - | 168,750 | - | 168,750
At 31 December 2024 | £1 | £2,979,928 | £997,266 | £3,977,195
| The notes on pages 5 to 11 form part of these financial statements.
Page 3
GSE COMMERCIAL ESTATES LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2023
| Called up share capital | Other reserves | Profit and loss account | Total equity
| £ | £ | £ | £
At 1 January 2023 | 1 | 2,601,306 | (217,765) | 2,383,542
Comprehensive income for the year |  |  |  |
Profit for the year | - | - | 2,034,964 | 2,034,964
Fair value adjustments | - | - | (209,872) | (209,872)
Other comprehensive income for the year | - | - | (209,872) | (209,872)
Total comprehensive income for the year | - | - | 1,825,092 | 1,825,092
Contributions by and distributions to owners |  |  |  |
Transfer to/from profit and loss account | - | 209,872 | - | 209,872
Total transactions with owners | - | 209,872 | - | 209,872
At 31 December 2023 | £1 | £2,811,178 | £1,607,327 | £4,418,506
| The notes on pages 5 to 11 form part of these financial statements.
Page 4
GSE COMMERCIAL ESTATES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. | General information
GSE Commercial Estates Limited is a private company, limited by shares, incorporated in England and Wales. The company registration number is 10999848. The registered office of the company is Henwood House, Henwood, Ashford, Kent, TN24 8DH. The principal place of business is GSE House, Paper Lane, Willesborough, Ashford, Kent, TN24 OTS. 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 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 | Going concern
The company is reliant on continued support from its finance providers and related companies which has continued since the balance sheet date. The directors therefore consider the continuing adoption of the going concern basis to be appropriate.
| 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: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably. 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. Page 5
GSE COMMERCIAL ESTATES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2. Accounting policies (continued)
| 2.4 | Operating leases: the Company as lessor
Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term. Amounts paid and payable as an incentive to sign an operating lease are recognised as a reduction to income over the lease term on a straight-line basis, unless another systematic basis is representative of the time pattern over which the lessor's benefit from the leased asset is diminished.
| 2.5 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.6 | 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.
| 2.7 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.8 | 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. Page 6
GSE COMMERCIAL ESTATES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2. Accounting policies (continued)
| 2.9 | 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, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Plant and machinery | - | 20% |
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.
| 2.10 | 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.
| 2.11 | 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.
| 2.12 | 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.
| 2.13 | 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.
| 2.14 | 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. Page 7
GSE COMMERCIAL ESTATES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
3. | Employees
| The average monthly number of employees, including directors, during the year was 4 (2023 - 4).
4. | Tangible fixed assets
|  | Plant and machinery
|  | £
| Cost or valuation |
| At 1 January 2024 | 24,952
| At 31 December 2024 | 24,952
| Depreciation |
| At 1 January 2024 | 6,654
| Charge for the year on owned assets | 4,990
| At 31 December 2024 | 11,644
| Net book value |
| At 31 December 2024 | £13,308
| At 31 December 2023 | £18,298
Page 8
GSE COMMERCIAL ESTATES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
5. | Investment property
|  | Freehold investment property | Property under construc-tion | Total
|  | £ | £ | £
| Valuation |  |  |
| At 1 January 2024 | 8,100,000 | - | 8,100,000
| Additions at cost | 101,151 | - | 101,151
| Surplus on revaluation | 225,000 | - | 225,000
| At 31 December 2024 | 8,426,151 | - | 8,426,151
The 2024 valuations were made by the directors, on an open market value basis.
| 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 | £4,351,763 | £4,351,763
6. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade debtors | 345,829 | 96,970
| Other debtors | 5,131,409 | 4,529,457
| Prepayments and accrued income | - | 19,345
|  | £5,477,238 | £4,645,772
7. | Cash and cash equivalents
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Cash at bank and in hand | £45,121 | £89,737
Page 9
GSE COMMERCIAL ESTATES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Other loans | 3,744,120 | 3,484,769
| Trade creditors | 270,882 | 101,589
| Other taxation and social security | 50,041 | 6,182
| Other creditors | 3,354,832 | 2,630,204
| Accruals and deferred income | 1,571,439 | 1,275,499
|  | £8,991,314 | £7,498,243
| The following liabilities were secured:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Other loans | 3,744,120 | 3,484,769
| Details of security provided:
Other loans are secured via a fixed and floating charge over the assets concerned.
9. | Deferred taxation
|  | 2024
|  | £
| At beginning of year | 937,059
| Charged to profit or loss | 56,250
| At end of year | £993,309
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Fair Value Surplus | £993,309 | £937,059
| The entity has trading losses carried forward of £2,246,709. In the event of the liability crystalising, it is probable that the trading losses would be offset against the liability.
Page 10
GSE COMMERCIAL ESTATES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
10. | Share capital
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 1 (2023 - 1) Ordinary share of £1.00 | £1 | £1
11. | Reserves
Other reserves Other reserves represents non-distributable reserves transferred from the profit and loss account, arising from fair value adjustments net of the associated deferred tax provision.
12. | Related party transactions
| The Company has advanced funds to companies under control of a director of the Company. At the balance sheet date £1,592,163 (2023: £1,917,311) was due from these companies. Amounts are interest free and repayable on demand.
13. | Controlling party
There is no single controlling party. The company is a wholly owned subsidiary of GSE Commercial Estates (Holdings) Limited, a company incorporated in England and Wales. The company is exempt from the requirement of preparing consolidated financial statements as it is a subsidiary undertaking of a small group under section 383 of the Companies Act 2006.
Page 11