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Company Registration No. 12597677 (England and Wales)
CNT Investments Limited Unaudited accounts for the year ended 31 May 2023
CNT Investments Limited Unaudited accounts Contents
Page
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CNT Investments Limited Company Information for the year ended 31 May 2023
Director
Mr C N Tauber
Company Number
12597677 (England and Wales)
Registered Office
44 Portland Avenue London N16 6EA
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CNT Investments Limited Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
5,646 
868 
Investment property
8,600,000 
6,150,000 
8,605,646 
6,150,868 
Current assets
Debtors
703,253 
970,035 
Cash at bank and in hand
45,485 
99 
748,738 
970,134 
Creditors: amounts falling due within one year
(5,737,879)
(4,275,821)
Net current liabilities
(4,989,141)
(3,305,687)
Total assets less current liabilities
3,616,505 
2,845,181 
Creditors: amounts falling due after more than one year
(904,858)
(963,296)
Provisions for liabilities
Deferred tax
(582,380)
(421,000)
Net assets
2,129,267 
1,460,885 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
2,129,167 
1,460,785 
Shareholders' funds
2,129,267 
1,460,885 
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 28 February 2024 and were signed on its behalf by
Mr C N Tauber Director Company Registration No. 12597677
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CNT Investments Limited Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
CNT Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 12597677. The registered office is 44 Portland Avenue, London, N16 6EA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Judgements and key sources of estimation uncertainty
In the application of the Company's accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The Directors do not consider there are any critical judgments or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed below.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% direct line
Investment property
Investment property is included at market fair value. 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.
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CNT Investments Limited Notes to the Accounts for the year ended 31 May 2023
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 June 2022
1,524 
Additions
6,879 
At 31 May 2023
8,403 
Depreciation
At 1 June 2022
656 
Charge for the year
2,101 
At 31 May 2023
2,757 
Net book value
At 31 May 2023
5,646 
At 31 May 2022
868 
5
Investment property
2023 
£ 
Fair value at 1 June 2022
6,150,000 
Additions
1,778,556 
Net gain from fair value adjustments
671,444 
At 31 May 2023
8,600,000 
The investment properties at 31 May 2022 are stated at director's estimation of open market value.
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
121,531 
8,993 
Other debtors
581,722 
961,042 
703,253 
970,035 
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CNT Investments Limited Notes to the Accounts for the year ended 31 May 2023
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
29,219 
29,400 
Trade creditors
36,291 
20,341 
Taxes and social security
39,958 
23,016 
Other creditors
5,631,211 
4,201,864 
Accruals
1,200 
1,200 
5,737,879 
4,275,821 
Included in other creditors are amounts aggregating £5,252,781 (2022: £4,028,013) due to companies which have a director in common with the company.
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
904,858 
963,296 
Aggregate of amounts that fall due for payment after five years
846,000 
846,000 
The bank loans are secured on the company's investment properties.
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
10
Transactions with related parties
Other debtors include amounts totaling £575,772 owed by companies with a director in common with the company.
11
Average number of employees
During the year the average number of employees was 3 (2022: 3).
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