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COMPANY REGISTRATION NUMBER: 12356645
CF LAND LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 December 2021
CF LAND LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31st DECEMBER 2021
CONTENTS
PAGES
Statement of financial position
1 to 2
Notes to the financial statements
3 to 6
CF LAND LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2021
2021
2020
Note
£
£
£
£
FIXED ASSETS
Investments
5
201,252
201,102
CURRENT ASSETS
Debtors
6
1,236,663
470,689
Cash at bank and in hand
45,855
315,086
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1,282,518
785,775
CREDITORS: amounts falling due within one year
7
235,904
983,518
-------------
----------
NET CURRENT ASSETS/(LIABILITIES)
1,046,614
( 197,743)
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----------
TOTAL ASSETS LESS CURRENT LIABILITIES
1,247,866
3,359
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-------
NET ASSETS
1,247,866
3,359
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CF LAND LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2021
2021
2020
Note
£
£
£
£
CAPITAL AND RESERVES
Called up share capital
8
20,100
20,100
Profit and loss account
1,227,766
( 16,741)
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--------
SHAREHOLDERS FUNDS
1,247,866
3,359
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--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31st December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 15 August 2022 , and are signed on behalf of the board by:
N Lever
Director
Company registration number: 12356645
CF LAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31st DECEMBER 2021
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Carter House, Pelaw Leazes Lane, Durham, DH1 1TB.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity, Monetary amounts in these financial statements are rounded to the nearest £.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 4 (2020: 4 ).
5. INVESTMENTS
Shares in participating interests
£
Cost
At 1st January 2021
201,102
Additions
200
Disposals
( 50)
----------
At 31st December 2021
201,252
----------
Impairment
At 1st January 2021 and 31st December 2021
----------
Carrying amount
At 31st December 2021
201,252
----------
At 31st December 2020
201,102
----------
The company have the following investments in subsidiaries and joint ventures at the end of the year:
Ownership % 2021
Ownership % 2020
Taradina Number Two Limited
25
25
Taradina Number Three Limited
25
25
Saddlestone West Limited
25
25
Thornex Limited
50
50
West Wynyard Woodland Limited
50
50
CF Land (Hanzard Drive) Limited
50
100
Thornex Options Limited
50
Bamburgh Holdings Limited
33
Wynyard Red Gap Limited
50
6. DEBTORS
2021
2020
£
£
Amounts owed by group undertakings
1,236,663
470,689
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----------
During the year amounts totalling £871,058 (2020: £365,604) were loaned to subsidiary companies and companies in which CF Land Limited has a participating interest. The amounts loaned are interest free and repayable on demand.
7. CREDITORS: amounts falling due within one year
2021
2020
£
£
Trade creditors
8
Accruals and deferred income
3,720
3,100
Social security and other taxes
2,075
417
Director loan accounts
229,900
979,900
Other creditors
201
101
----------
----------
235,904
983,518
----------
----------
8. CALLED UP SHARE CAPITAL
Issued, called up and fully paid
2021
2020
No.
£
No.
£
Ordinary Class A shares of £ 1 each
100
100
100
100
Ordinary shares of £ 1 each
20,000
20,000
20,000
20,000
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20,100
20,100
20,100
20,100
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