Caseware UK (AP4) 2022.0.179 2022.0.179 2022-04-01falseThe principal activity of the company is that of property development, converting commercial property to flats.22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04597827 2022-04-01 2023-03-31 04597827 2021-04-01 2022-03-31 04597827 2023-03-31 04597827 2022-03-31 04597827 c:Director1 2022-04-01 2023-03-31 04597827 d:CurrentFinancialInstruments 2023-03-31 04597827 d:CurrentFinancialInstruments 2022-03-31 04597827 d:Non-currentFinancialInstruments 2023-03-31 04597827 d:Non-currentFinancialInstruments 2022-03-31 04597827 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 04597827 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 04597827 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 04597827 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 04597827 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 04597827 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 04597827 d:ShareCapital 2023-03-31 04597827 d:ShareCapital 2022-03-31 04597827 d:RetainedEarningsAccumulatedLosses 2023-03-31 04597827 d:RetainedEarningsAccumulatedLosses 2022-03-31 04597827 c:FRS102 2022-04-01 2023-03-31 04597827 c:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 04597827 c:FullAccounts 2022-04-01 2023-03-31 04597827 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 04597827 2 2022-04-01 2023-03-31 04597827 e:PoundSterling 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 04597827










Cammells Property Ventures Ltd








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 March 2023

 
Cammells Property Ventures Ltd
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of Cammells Property Ventures Ltd for the year ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cammells Property Ventures Ltd for the year ended 31 March 2023 which comprise  the Balance sheet 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 at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Cammells Property Ventures Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Cammells Property Ventures Ltd  and state those matters that we have agreed to state to the Board of directors of Cammells Property Ventures Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cammells Property Ventures Ltd and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Cammells Property Ventures Ltd 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 Cammells Property Ventures Ltd. You consider that Cammells Property Ventures Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Cammells Property Ventures Ltd. 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.

  



Kreston Reeves LLP
Chartered Accountants
9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ
17 November 2023
Page 1

 
Cammells Property Ventures Ltd
Registered number: 04597827

Balance sheet
As at 31 March 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
  
1,348,577
1,348,577

Debtors: amounts falling due within one year
 5 
116,849
116,739

Cash at bank and in hand
  
16,734
8,799

  
1,482,160
1,474,115

Creditors: amounts falling due within one year
 6 
(1,399,252)
(1,442,082)

Total assets less current liabilities
  
 
 
82,908
 
 
32,033

Creditors: amounts falling due after more than one year
 7 
(6,663)
(9,738)

  

Net assets
  
76,245
22,295


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
76,243
22,293

  
76,245
22,295


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
H M Cammell
Director
Date:15 November 2023

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
Cammells Property Ventures Ltd
 

 
Notes to the financial statements
For the year ended 31 March 2023

1.


General information

The Company is a private company limited by share capital incorporated in England and Wales with the registration number 04597827. 
The address of the registered office is: 1 Riverside Wharf, River Road, Littlehampton, BN17 5BZ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
Cammells Property Ventures Ltd
 

 
Notes to the financial statements
For the year ended 31 March 2023

2.Accounting policies (continued)

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
Cammells Property Ventures Ltd
 

 
Notes to the financial statements
For the year ended 31 March 2023

2.Accounting policies (continued)

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Parent company profit for the year

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of income and retained earnings in these financial statements. The profit after tax of the parent Company for the year was £53,950NIL (2022 - £45,471).


5.


Debtors

2023
2022
£
£


Other debtors
116,727
116,727

Prepayments and accrued income
122
12

116,849
116,739


Page 5

 
Cammells Property Ventures Ltd
 

 
Notes to the financial statements
For the year ended 31 March 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
3,075
3,075

Trade creditors
20
184

Corporation tax
12,655
5,236

Other creditors
1,380,117
1,431,243

Accruals and deferred income
3,385
2,344

1,399,252
1,442,082



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
6,663
9,738


The bank loan are secured by way of a fixed and floating charge against property and the undertakings of the company.


8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
3,075
3,075

Amounts falling due 1-2 years

Bank loans
6,663
9,738

9,738
12,813



9.


Controlling party

The Company is immediately controlled by Lime Wood Place Ltd, which is a company incorporated in England and Wales (registered number 12398949). 


Page 6