COMPANY REGISTRATION NUMBER:
13969829
Causeway Property Investments Limited |
|
Filleted Unaudited Abridged Financial Statements |
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Causeway Property Investments Limited |
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Abridged Financial Statements |
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Period from 10 March 2022 to 31 March 2023
Officers and professional advisers |
1 |
|
|
Abridged statement of financial position |
2 to 3 |
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Notes to the abridged financial statements |
4 to 6 |
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Causeway Property Investments Limited |
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Abridged Statement of Financial Position |
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31 March 2023
Fixed assets
Tangible assets |
5 |
446,688 |
|
|
|
Current assets
Debtors |
2,328 |
Cash at bank and in hand |
5,808 |
|
------- |
|
8,136 |
|
|
Creditors: amounts falling due within one year |
205,107 |
|
--------- |
Net current liabilities |
196,971 |
|
--------- |
Total assets less current liabilities |
249,717 |
|
|
Creditors: amounts falling due after more than one year |
6 |
249,154 |
|
--------- |
Net assets |
563 |
|
--------- |
|
|
|
Capital and reserves
Called up share capital |
2 |
Profit and loss account |
561 |
|
---- |
Shareholders funds |
563 |
|
---- |
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These abridged 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 abridged statement of comprehensive income has not been delivered.
For the period ending 31 March 2023 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 abridged financial statements for the period 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 abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the period ending 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.
Causeway Property Investments Limited |
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Abridged Statement of Financial Position (continued) |
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31 March 2023
These abridged financial statements were approved by the
board of directors
and authorised for issue on
3 October 2023
, and are signed on behalf of the board by:
Company registration number:
13969829
Causeway Property Investments Limited |
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Notes to the Abridged Financial Statements |
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Period from 10 March 2022 to 31 March 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 17 Bishops Meadows, Church Warsop, Mansfield, NG20 OSQ.
2.
Statement of compliance
These abridged 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 abridged 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 abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
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.
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
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.
4.
Employee numbers
The average number of persons employed by the company during the period amounted to
2
.
5.
Tangible assets
|
£ |
Cost |
|
At 10 March 2022 |
– |
Additions |
446,688 |
|
--------- |
At 31 March 2023 |
446,688 |
|
--------- |
Depreciation |
|
At 10 March 2022 and 31 March 2023 |
– |
|
--------- |
Carrying amount |
|
At 31 March 2023 |
446,688 |
|
--------- |
|
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Included within the above is investment property as follows:
|
£ |
At 10 March 2022 |
– |
Additions |
446,688 |
|
--------- |
At 31 March 2023 |
446,688 |
|
--------- |
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The directors deemed the valuation of the investment properties to be the same as the cost on 31st March 2023 and so no revaluation was carried out for the year.
6.
Creditors:
amounts falling due after more than one year
As security for the loan, Nat-West hold a fixed charge over the freehold property and any other assets owned by the company.
Included within creditors: amounts falling due after more than one year is an amount of £154,448 in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
7.
Directors' advances, credits and guarantees
During the period the directors entered into the following advances and credits with the company:
|
31 Mar 23 |
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Balance brought forward |
Advances/ (credits) to the directors |
Balance outstanding |
|
|
£ |
£ |
£ |
|
Mr C McCrae |
– |
(
89,951) |
(
89,951) |
|
Mr P Molloy |
– |
(
89,950) |
(
89,950) |
|
|
---- |
--------- |
--------- |
|
|
– |
(
179,901) |
(
179,901) |
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|
---- |
--------- |
--------- |
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