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REGISTERED NUMBER: 00609478 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Central Properties (Keighley) Limited

Central Properties (Keighley) Limited (Registered number: 00609478)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 5

Chartered Accountants' Report 11

Central Properties (Keighley) Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: A J Smallwood
H E Smallwood
T A J Smallwood





REGISTERED OFFICE: 24 Coronation Avenue
Harrogate
North Yorkshire
HG2 8BY





REGISTERED NUMBER: 00609478 (England and Wales)





ACCOUNTANTS: Stirk Lambert & Co
Chartered Accountants
Russell Chambers
61a North Street
Keighley
West Yorkshire
BD21 3DS

Central Properties (Keighley) Limited (Registered number: 00609478)

Statement of Financial Position
31 March 2023

31.3.23 31.3.22
Notes £    £   
FIXED ASSETS
Tangible assets 5 42,471 45,365
Investments 6 542,928 542,928
Investment property 7 - 130,000
585,399 718,293

CURRENT ASSETS
Stocks 275,013 155,779
Debtors 8 203,081 32,711
Cash at bank 134,305 335,884
612,399 524,374
CREDITORS
Amounts falling due within one year 9 (622,530 ) (641,788 )
NET CURRENT LIABILITIES (10,131 ) (117,414 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

575,268

600,879

CREDITORS
Amounts falling due after more than one
year

10

(122,667

)

(102,519

)

PROVISIONS FOR LIABILITIES (6,197 ) (1,786 )
NET ASSETS 446,404 496,574

CAPITAL AND RESERVES
Called up share capital 1,975 1,975
Capital redemption reserve 1,025 1,025
Retained earnings 443,404 493,574
SHAREHOLDERS' FUNDS 446,404 496,574

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Central Properties (Keighley) Limited (Registered number: 00609478)

Statement of Financial Position - continued
31 March 2023


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 Statement of Income and Retained Earnings has not been delivered.

Central Properties (Keighley) Limited (Registered number: 00609478)

Statement of Financial Position - continued
31 March 2023



The financial statements were approved by the Board of Directors and authorised for issue on 10 October 2023 and were signed on its behalf by:





A J Smallwood - Director


Central Properties (Keighley) Limited (Registered number: 00609478)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Central Properties (Keighley) 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

2. STATEMENT OF COMPLIANCE

The financial statements have been prepared in accordance with he provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Central Properties (Keighley) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is the total amount receivable by the company in the ordinary course of business for properties sold less attributable expenses, and for goods supplied and for services provided, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant & machinery - 25% on reducing balance
Fixtures & fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 3 years

Depreciation is not provided on freehold land and buildings on the grounds of immateriality as the directors are of the opinion that the residual value will be at least equal to book value. An impairment review will be carried out annually.

Investments in subsidiaries
Investment in subsidiary undertakings are recognised at fair value.

Stocks
Work in progress is valued at the lower of cost and net realisable value. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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 statement of financial position date.


Central Properties (Keighley) Limited (Registered number: 00609478)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investment properties
Investment property is included at fair value. Revaluation gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Basis of preparation
As a small sized group advantage has been taken of the exemption permitted by Companies Act 1985 and consolidated financial statements have not been prepared. These financial statements have been prepared on the basis of the company as an individual undertaking only.

Operating leases
Property rents receivable are accounted for on a straight line basis over the period of each lease, and are included within other operating income.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

Central Properties (Keighley) Limited (Registered number: 00609478)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Plant & Fixtures Motor Computer
machinery & fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 7,609 10,316 81,655 11,292 110,872
Additions - - 11,250 - 11,250
At 31 March 2023 7,609 10,316 92,905 11,292 122,122
DEPRECIATION
At 1 April 2022 6,300 8,662 39,846 10,699 65,507
Charge for year 327 209 13,264 344 14,144
At 31 March 2023 6,627 8,871 53,110 11,043 79,651
NET BOOK VALUE
At 31 March 2023 982 1,445 39,795 249 42,471
At 31 March 2022 1,309 1,654 41,809 593 45,365

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:
Motor
vehicles
£   
COST
At 1 April 2022 70,296
Additions 11,250
Transfer to ownership (22,950 )
At 31 March 2023 58,596
DEPRECIATION
At 1 April 2022 29,341
Charge for year 11,689
Transfer to ownership (17,504 )
At 31 March 2023 23,526
NET BOOK VALUE
At 31 March 2023 35,070
At 31 March 2022 40,955

6. FIXED ASSET INVESTMENTS

31.3.23 31.3.22
£    £   
Shares in group undertakings 539,185 539,185
Other investments not loans 3,743 3,743
542,928 542,928

Central Properties (Keighley) Limited (Registered number: 00609478)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. FIXED ASSET INVESTMENTS - continued

Additional information is as follows:
Shares in
group
undertakings
£   
COST
At 1 April 2022
and 31 March 2023 539,185
NET BOOK VALUE
At 31 March 2023 539,185
At 31 March 2022 539,185

Investments (neither listed nor unlisted) were as follows:
31.3.23 31.3.22
£    £   
Car number plate 3,743 3,743

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 130,000
Disposals (130,000 )
At 31 March 2023 -
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 130,000

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 13,709 28,728
Other debtors - 462
Directors' current accounts 149,688 -
Tax 31,878 -
Value added tax 3,311 -
Prepayments & accrued income 4,495 3,521
203,081 32,711



Central Properties (Keighley) Limited (Registered number: 00609478)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 12,389 11,722
Hire purchase contracts and finance leases 7,740 11,421
Trade creditors 16,602 5,938
Amounts owed to group undertakings 539,737 539,737
Corporate taxation 20,145 40,225
Social security & other taxes 3,736 2,279
Value added tax - 14,872
Other creditors 4,768 -
Directors' loan accounts - 66
Accrued expenses 17,413 15,528
622,530 641,788

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans - 1-2 years 12,621 11,793
Bank loans - 2-5 years 21,120 27,500
Bank loans more 5 yr by instal 55,315 31,665
Hire purchase contracts and finance leases 33,611 31,561
122,667 102,519

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 55,315 31,665

11. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Hire purchase contracts and finance leases 41,351 42,982
Bank loan 69,780 -
111,131 42,982

A Smallwood has given a personal guarantee totalling £200,000 in support of the bank borrowings.

The bank loan is secured by way of a fixed charge held over the land and buildings at Fieldhead Road, Guiseley, Leeds.

Central Properties (Keighley) Limited (Registered number: 00609478)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
A J Smallwood
Balance outstanding at start of year - -
Amounts advanced 149,688 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 149,688 -

13. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

14. CONTROLLING PARTY

The immediate parent company is Central Properties (Holdings) Limited. The registered office of Central Properties (Holdings) Limited is Russell chambers, 61A North Street, Keighley, West Yorkshire, BD21 3DS.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Central Properties (Keighley) Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Central Properties (Keighley) Limited for the year ended 31 March 2023 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Central Properties (Keighley) Limited, as a body, in accordance with the terms of our engagement letter dated 25 May 2001. Our work has been undertaken solely to prepare for your approval the financial statements of Central Properties (Keighley) Limited and state those matters that we have agreed to state to the Board of Directors of Central Properties (Keighley) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Central Properties (Keighley) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Central Properties (Keighley) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Central Properties (Keighley) Limited. You consider that Central Properties (Keighley) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Central Properties (Keighley) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Stirk Lambert & Co
Chartered Accountants
Russell Chambers
61a North Street
Keighley
West Yorkshire
BD21 3DS


10 October 2023