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COMPANY REGISTRATION NUMBER: 11696530
C&P Properties Investment Limited
Filleted Unaudited Financial Statements
30 November 2021
C&P Properties Investment Limited
Statement of Financial Position
30 November 2021
2021
2020
Note
£
£
Fixed assets
Tangible assets
4
245,565
245,565
Current assets
Cash at bank and in hand
3,336
2,417
Creditors: amounts falling due within one year
5
126,827
124,041
---------
---------
Net current liabilities
123,491
121,624
---------
---------
Total assets less current liabilities
122,074
123,941
Creditors: amounts falling due after more than one year
6
131,998
131,998
---------
---------
Net liabilities
( 9,924)
( 8,057)
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 10,024)
( 8,157)
--------
-------
Shareholders deficit
( 9,924)
( 8,057)
--------
-------
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 income and retained earnings has not been delivered.
For the year ending 30 November 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 .
C&P Properties Investment Limited
Statement of Financial Position (continued)
30 November 2021
These financial statements were approved by the board of directors and authorised for issue on 7 September 2022 , and are signed on behalf of the board by:
C Amer
P A Collins
Director
Director
Company registration number: 11696530
C&P Properties Investment Limited
Notes to the Financial Statements
Year ended 30 November 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 1 Lyon Road, London, SW192RL, United Kingdom.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
C&P Properties Investment Limited owns and rents residential property and receives monthly rental income in advance. Rental income is recognised as revenue upon receipt with any funds received as deposits held on the balance sheet as deferred revenue until such time that a) it is refunded to the tenant on vacation of the property b) the deposit becomes forfeit and is subsequently recognised as revenue
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.
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. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Tangible assets
Long leasehold property
£
Cost
At 1 December 2020 and 30 November 2021
245,565
---------
Depreciation
At 1 December 2020 and 30 November 2021
---------
Carrying amount
At 30 November 2021
245,565
---------
At 30 November 2020
245,565
---------
The property was purchased in the prior year. The directors do not consider the value of the property has changed materially over the course of the period of ownership and continues to be held at cost.
5. Creditors: amounts falling due within one year
2021
2020
£
£
Other creditors
126,827
124,041
---------
---------
6. Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
131,998
131,998
---------
---------
7. Related party transactions
C. Amer and P. Collins are both directors of C&P Security Products Ltd. An outstanding loan balance of £125,927 was owed to C&P Security Products Ltd at the year ended 30 November 2021 (2020 - £122,821). Interest on this loan is charged at 2.5%, calculated on a monthly basis and added to the loan balance. A total of £3,106 interest charges were accrued during the year to 30 November 2021 (2020 - £2,821) and repayments of £nil were made in respect of this loan. No further funds were advanced from C&P Security Products Ltd (2020 - £100,000) during the year. No other transactions with related parties were undertaken such as are required to be disclosed under FRS102 1A.