Registered number
10817677
CANDEREL PROPERTY LTD
Filleted Accounts
30 June 2022
CANDEREL PROPERTY LTD
Registered number: 10817677
Balance Sheet
as at 30 June 2022
Notes 2022 2021
£ £
Fixed assets
Investment properties 3 497,914 497,914
Current assets
Cash at bank and in hand 22,140 15,806
Creditors: amounts falling due within one year 4 (529,894) (522,098)
Net current liabilities (507,754) (506,292)
Net liabilities (9,840) (8,378)
Capital and reserves
Called up share capital 1 1
Profit and loss account (9,841) (8,379)
Shareholders' funds (9,840) (8,378)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
H Reger
Director
Approved by the board on 29 August 2022
CANDEREL PROPERTY LTD
Notes to the Accounts
for the year ended 30 June 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company - -
3 Investments
investment
properties
£
Cost
At 1 July 2021 497,914
At 30 June 2022 497,914
4 Creditors: amounts falling due within one year 2022 2021
£ £
Trade creditors and accrued interest payments 8,544 8,848
Amounts owed to related parties 317,350 315,250
Amounts owed to directors 201,000 195,000
Other creditors 3,000 3,000
529,894 522,098
5 Related party transactions
The company owes £280,250 to a direct relative of the controlling shareholder on which it pays 6% interest annually.
Canderel Technical Services, a company under mutual control, has loaned the company £35,000. The company is paying 6% interest annually on this loan.
Helen Reger, who holds all of the share capital of the company has loaned the company £100,000 on which 6% interest per annum is paid. In addition she has advanced £95,000 to the company on which interest is not paid.
6 Other information
CANDEREL PROPERTY LTD is a private company limited by shares and incorporated in England. Its registered office is:
3 Attlee Way
Dereham
UK
NR19 2XH
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