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REGISTERED NUMBER: 09543988 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023

FOR

CULMAT PROPERTIES LIMITED

CULMAT PROPERTIES LIMITED (REGISTERED NUMBER: 09543988)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 April 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

CULMAT PROPERTIES LIMITED

COMPANY INFORMATION
for the year ended 30 April 2023







DIRECTOR: M Cullingford





REGISTERED OFFICE: Stone Cross Barn
Stone Cross Business Centre
Lewes Road
Laughton
East Sussex
BN8 6BN





REGISTERED NUMBER: 09543988 (England and Wales)





ACCOUNTANTS: BSR Bespoke Chartered Accountants
Linden House
Linden Close
Tunbridge Wells
Kent
TN4 8HH

CULMAT PROPERTIES LIMITED (REGISTERED NUMBER: 09543988)

BALANCE SHEET
30 April 2023

30.4.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 162 216
Investment property 5 550,000 480,000
550,162 480,216

CURRENT ASSETS
Debtors 6 117 2,531
Cash at bank 7,671 5,655
7,788 8,186
CREDITORS
Amounts falling due within one year 7 66,981 68,894
NET CURRENT LIABILITIES (59,193 ) (60,708 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

490,969

419,508

CREDITORS
Amounts falling due after more than one
year

8

(204,349

)

(220,030

)

PROVISIONS FOR LIABILITIES (52,811 ) (26,836 )
NET ASSETS 233,809 172,642

CAPITAL AND RESERVES
Called up share capital 1 1
Capital redemption reserve 1 1
Retained earnings 233,807 172,640
SHAREHOLDERS' FUNDS 233,809 172,642

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 director acknowledges his 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.

CULMAT PROPERTIES LIMITED (REGISTERED NUMBER: 09543988)

BALANCE SHEET - continued
30 April 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 November 2023 and were signed by:





M Cullingford - Director


CULMAT PROPERTIES LIMITED (REGISTERED NUMBER: 09543988)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 April 2023


1. STATUTORY INFORMATION

Culmat Properties 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 presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is recognised when it is probable that future economic benefits will flow to the company from its lease agreements and is measured as the fair value of consideration which the company expects to receive from those transactions. Turnover represents rental income from operating leases and is recognised on a straight line basis over the term of the lease. Lease incentives which are granted are included as part of the net consideration for the use of the property leased and are also recognised on a straight line basis.

Turnover is recognised net of returns and of trade discounts and is shown exclusive of 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.
Fixtures and fittings - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred 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 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 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.

CULMAT PROPERTIES LIMITED (REGISTERED NUMBER: 09543988)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 May 2022
and 30 April 2023 1,634
DEPRECIATION
At 1 May 2022 1,418
Charge for year 54
At 30 April 2023 1,472
NET BOOK VALUE
At 30 April 2023 162
At 30 April 2022 216

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2022 480,000
Revaluations 70,000
At 30 April 2023 550,000
NET BOOK VALUE
At 30 April 2023 550,000
At 30 April 2022 480,000

Fair value at 30 April 2023 is represented by:
£   
Valuation in 2019 74,355
Valuation in 2022 90,000
Valuation in 2023 70,000
Cost 315,645
550,000

CULMAT PROPERTIES LIMITED (REGISTERED NUMBER: 09543988)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade debtors - 1,890
Prepayments 117 641
117 2,531

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Bank loans and overdrafts 17,861 18,142
Trade creditors 385 2,185
Corporation tax 4,164 4,382
VAT 1,596 927
Other creditors 3,731 3,731
Directors' loan accounts 36,583 36,583
Accruals & deferred income 2,661 2,944
66,981 68,894

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.23 30.4.22
£    £   
Bank loans - 1-2 years 18,928 18,564
Bank loans - 2-5 years 59,465 58,321
Bank loans more 5 yr by instal 125,956 143,145
204,349 220,030

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 125,956 143,145

9. SECURED DEBTS

The following secured debts are included within creditors:

30.4.23 30.4.22
£    £   
Bank loans 222,210 238,172

The bank loan is secured by a fixed and floating charge over the company's assets.

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
CULMAT PROPERTIES LIMITED


The following reproduces the text of the report prepared for the director 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 Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director 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 Culmat Properties Limited for the year ended 30 April 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 director of Culmat Properties Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Culmat Properties Limited and state those matters that we have agreed to state to the director of Culmat Properties Limited 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 Culmat Properties Limited and its director for our work or for this report.

It is your duty to ensure that Culmat Properties 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 Culmat Properties Limited. You consider that Culmat Properties 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 Culmat Properties 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.






BSR Bespoke Chartered Accountants
Linden House
Linden Close
Tunbridge Wells
Kent
TN4 8HH


21 November 2023