Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31No description of principal activity2022-04-01false22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09515187 2022-04-01 2023-03-31 09515187 2021-04-01 2022-03-31 09515187 2023-03-31 09515187 2022-03-31 09515187 c:Director2 2022-04-01 2023-03-31 09515187 d:FreeholdInvestmentProperty 2022-04-01 2023-03-31 09515187 d:FreeholdInvestmentProperty 2023-03-31 09515187 d:FreeholdInvestmentProperty 2022-03-31 09515187 d:CurrentFinancialInstruments 2023-03-31 09515187 d:CurrentFinancialInstruments 2022-03-31 09515187 d:Non-currentFinancialInstruments 2023-03-31 09515187 d:Non-currentFinancialInstruments 2022-03-31 09515187 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09515187 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 09515187 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 09515187 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 09515187 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 09515187 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 09515187 d:ShareCapital 2023-03-31 09515187 d:ShareCapital 2022-03-31 09515187 d:RetainedEarningsAccumulatedLosses 2023-03-31 09515187 d:RetainedEarningsAccumulatedLosses 2022-03-31 09515187 c:FRS102 2022-04-01 2023-03-31 09515187 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 09515187 c:FullAccounts 2022-04-01 2023-03-31 09515187 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 09515187 2 2022-04-01 2023-03-31 09515187 e:PoundSterling 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 09515187









CYNTRA PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
CYNTRA PROPERTIES LIMITED
REGISTERED NUMBER: 09515187

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
2,362,468
4,524,494

  
2,362,468
4,524,494

Current assets
  

Stocks
  
2,241,892
-

Debtors: amounts falling due within one year
 5 
2,022,178
1,206,705

Cash at bank and in hand
 6 
174,931
447,684

  
4,439,001
1,654,389

Creditors: amounts falling due within one year
 7 
(2,868,104)
(2,520,074)

Net current assets/(liabilities)
  
 
 
1,570,897
 
 
(865,685)

Total assets less current liabilities
  
3,933,365
3,658,809

Creditors: amounts falling due after more than one year
 8 
(1,691,573)
(1,821,843)

  

Pension asset
  
720,233
29,832

Net assets
  
2,962,025
1,866,798


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
2,962,023
1,866,796

  
2,962,025
1,866,798


Page 1

 
CYNTRA PROPERTIES LIMITED
REGISTERED NUMBER: 09515187
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

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 comprehensive income 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: 




J L Davies
Director

Date: 26 February 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
CYNTRA PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Cyntra Properties Limited is a private company limited by shares incorporated in England and Wales. The
registered office is Permanent House, 133 Hammersmith Road, London, W14 0QL.
The financial statements are presented in Sterling, which is the functional currency of the Company.

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

Interest income

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

 
2.4

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.

 
2.5

Borrowing costs

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

Page 3

 
CYNTRA PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Defined benefit pension plan

The Company operates a defined benefit plan for certain employees. A defined benefit plan defines the pension benefit that the employee will receive on retirement, usually dependent upon several factors including but not limited to age, length of service and remuneration. A defined benefit plan is a pension plan that is not a defined contribution plan.

The liability recognised in the Balance Sheet in respect of the defined benefit plan is the present value of the defined benefit obligation at the end of the balance sheet date less the fair value of plan assets at the balance sheet date (if any) out of which the obligations are to be settled.

The defined benefit obligation is calculated using the projected unit credit method. Annually the company engages independent actuaries to calculate the obligation. The present value is determined by discounting the estimated future payments using market yields on high quality corporate bonds that are denominated in sterling and that have terms approximating to the estimated period of the future payments ('discount rate').

The fair value of plan assets is measured in accordance with the FRS 102 fair value hierarchy and in accordance with the Company's policy for similarly held assets. This includes the use of appropriate valuation techniques.

Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or credited to other comprehensive income. These amounts together with the return on plan assets, less amounts included in net interest, are disclosed as 'Remeasurement of net defined benefit liability'.

The cost of the defined benefit plan, recognised in profit or loss as employee costs, except where included in the cost of an asset, comprises:

a) the increase in net pension benefit liability arising from employee service during the period; and

b) the cost of plan introductions, benefit changes, curtailments and settlements.

The net interest cost is calculated by applying the discount rate to the net balance of the defined benefit obligation and the fair value of plan assets. This cost is recognised in profit or loss as a 'finance expense'.

Page 4

 
CYNTRA PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
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

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.9

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.

 
2.10

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.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

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 5

 
CYNTRA PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

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


4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2022
4,524,494


Additions at cost
155,575


Disposals
(2,317,601)



At 31 March 2023
2,362,468

The 2023 valuations were made by the directors, on an open market value for existing use basis.





If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
2,111,330
4,170,528

2,111,330
4,170,528

Page 6

 
CYNTRA PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Debtors

2023
2022
£
£


Other debtors
2,022,178
1,206,705

2,022,178
1,206,705



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
174,931
447,684

174,931
447,684



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
81,751
69,685

Trade creditors
22,473
1,941

Corporation tax
47,436
44,279

Other taxation and social security
1,188
-

Other creditors
2,705,003
2,393,916

Accruals and deferred income
10,253
10,253

2,868,104
2,520,074



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
1,691,573
1,821,843

1,691,573
1,821,843


Page 7

 
CYNTRA PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
81,751
69,685


81,751
69,685

Amounts falling due in more than one year

Bank loans
1,691,573
1,821,843


1,691,573
1,821,843



1,773,324
1,891,528


 
Page 8