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REGISTERED NUMBER: 10128776 (England and Wales)















Coomber Property Limited

Financial Statements

for the Year Ended 30 April 2023






Coomber Property Limited (Registered number: 10128776)

Contents of the Financial Statements
for the year ended 30 April 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Coomber Property Limited

Company Information
for the year ended 30 April 2023







Directors: M Coomber
J Coomber





Registered office: New Derwent House
69-73 Theobalds Road
London
WC1X 8TA





Registered number: 10128776 (England and Wales)





Accountants: Haines Watts
Chartered Accountants
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

Coomber Property Limited (Registered number: 10128776)

Balance Sheet
30 April 2023

2023 2022
Notes £ £ £ £
Fixed assets
Investment property 4 897,400 609,563

Current assets
Debtors 5 300 300
Cash at bank 3,147 347
3,447 647
Creditors
Amounts falling due within one year 6 19,078 70,024
Net current liabilities (15,631 ) (69,377 )
Total assets less current liabilities 881,769 540,186

Creditors
Amounts falling due after more than one
year

7

(453,750

)

(423,810

)

Provisions for liabilities (71,959 ) -
Net assets 356,060 116,376

Capital and reserves
Called up share capital 8 300 300
Retained earnings 355,760 116,076
Shareholders' funds 356,060 116,376

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 October 2023 and were signed on its behalf by:





M Coomber - Director


Coomber Property Limited (Registered number: 10128776)

Notes to the Financial Statements
for the year ended 30 April 2023


1. Statutory information

Coomber Property Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going Concern

The company has net current liabilities of £15,631 (2022 £69,377) as at the year end. However the Directors still believe that the going concern basis is appropriate. They have overall net assets of £356,060 (2022: £116,376) and so could cover their own creditors as and when they become due. The going concern basis is therefore appropriate.

Significant judgements and estimates
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is a significant Judgement in calculating the valuation of the investment property. A market value is estimated by the Directors based on their expert knowledge of the industry and market.

Turnover
Turnover represents rents received under operating leases and is inclusive of irrecoverable VAT.

Rental income is recognised from the date of which the rental took place and payable in advance. Any amounts which are received in advance are spread over the period for which they relate.

Investment property
Investment property, which is property held to earn rentals and/pr capital appreciation, is initially recognised at cost, which includes the purchase cost and the directly attributable expenditure. Subsequently is is measured at fair value at the reporting end date. Changes in the fair value are recognised in profit and loss.

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash at bank which are an integral part of the company's cash management.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.


Coomber Property Limited (Registered number: 10128776)

Notes to the Financial Statements - continued
for the year ended 30 April 2023


2. Accounting policies - continued
Taxation
Taxation for the year comprises current tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. Employees and directors

The average number of employees during the year was 2 (2022 - 2 ) .

4. Investment property
Total
£
Fair value
At 1 May 2022 609,563
Revaluations 287,837
At 30 April 2023 897,400
Net book value
At 30 April 2023 897,400
At 30 April 2022 609,563

The property has been valued as at 30 April 2023 at the current market value. The valuation was carried out by a qualified 3rd party surveyor.

5. Debtors: amounts falling due within one year
2023 2022
£ £
Other debtors 300 300

6. Creditors: amounts falling due within one year
2023 2022
£ £
Tax 5,687 4,433
Directors' current accounts 10,891 63,391
Accruals and deferred income 2,500 2,200
19,078 70,024

7. Creditors: amounts falling due after more than one year
2023 2022
£ £
Other creditors 453,750 423,810

Coomber Property Limited (Registered number: 10128776)

Notes to the Financial Statements - continued
for the year ended 30 April 2023


8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
300 Ordinary £1 300 300

9. Related party disclosures

During the year the company was charged £10,290 (2022: £17,344) of interest on a loan, £7,650 (2022: £7,650) of property management fees and received rental income of £51,000 (2022: £51,000) from related companies.

Included in other creditors falling due in more than one year was £453,750 (2022: £423,810) due to a company under common control.

Included in other creditors falling due within one year as at year end was £10,891 (2022: £63,391) owed to the company's directors.

10. Distributable reserves

Held within the profit and loss reserve is an amount relating to the revaluation of the investment property which is not distributable to the shareholders. As such the amount available for distribution as at 30 April 2023 was £139,882.