REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2023 |
for |
Central Properties (Keighley) Limited |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Investments | 6 |
Investment property | 7 |
CURRENT ASSETS |
Stocks |
Debtors | 8 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 9 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
10 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
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 |
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 |
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 |
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 |
Plant & machinery | - |
Fixtures & fittings | - |
Motor vehicles | - |
Computer equipment | - |
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 |
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 |
Additions |
At 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
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 |
Additions |
Transfer to ownership | (22,950 | ) |
At 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
Transfer to ownership | (17,504 | ) |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
6. | FIXED ASSET INVESTMENTS |
31.3.23 | 31.3.22 |
£ | £ |
Shares in group undertakings |
Other investments not loans |
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 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
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 |
Disposals | ( |
) |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Trade debtors |
Other debtors |
Directors' current accounts | - |
Tax |
Value added tax |
Prepayments & accrued income |
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 |
Hire purchase contracts and finance leases |
Trade creditors |
Amounts owed to group undertakings |
Corporate taxation |
Social security & other taxes |
Value added tax | - |
Other creditors |
Directors' loan accounts |
Accrued expenses |
10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
Bank loans more 5 yr by instal |
Hire purchase contracts and finance leases |
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 | - |
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 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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. |
Chartered Accountants |
Russell Chambers |
61a North Street |
Keighley |
West Yorkshire |
BD21 3DS |