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REGISTERED NUMBER: 08058042 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 May 2023

for

Cathays Developments Limited

Cathays Developments Limited (Registered number: 08058042)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


Cathays Developments Limited (Registered number: 08058042)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 51,149 13,238
Investment property 5 5,149,811 4,559,921
5,200,960 4,573,159

CURRENT ASSETS
Debtors 6 563 322,551
Cash at bank 530,614 733,719
531,177 1,056,270
CREDITORS
Amounts falling due within one year 7 196,103 201,498
NET CURRENT ASSETS 335,074 854,772
TOTAL ASSETS LESS CURRENT LIABILITIES 5,536,034 5,427,931

CREDITORS
Amounts falling due after more than one year 8 2,401,820 2,432,597
NET ASSETS 3,134,214 2,995,334

CAPITAL AND RESERVES
Called up share capital 9 100 100
Revaluation reserve 2,255,656 2,255,656
Retained earnings 878,458 739,578
SHAREHOLDERS' FUNDS 3,134,214 2,995,334

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

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 1 February 2024 and were signed by:





M S Munir - Director


Cathays Developments Limited (Registered number: 08058042)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Cathays Developments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08058042

Registered office: 97 Wyeverne Road
Cathays
Cardiff
CF24 4BG

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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 20% on reducing balance
Motor vehicles - 25% 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.

Investment properties were valued on an open market basis on the balance sheet date by the director.

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.

3. EMPLOYEES AND DIRECTORS

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

Cathays Developments Limited (Registered number: 08058042)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 June 2022 26,571 15,000 41,571
Additions - 54,500 54,500
At 31 May 2023 26,571 69,500 96,071
DEPRECIATION
At 1 June 2022 19,661 8,672 28,333
Charge for year 1,382 15,207 16,589
At 31 May 2023 21,043 23,879 44,922
NET BOOK VALUE
At 31 May 2023 5,528 45,621 51,149
At 31 May 2022 6,910 6,328 13,238

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022 4,559,921
Additions 589,890
At 31 May 2023 5,149,811
NET BOOK VALUE
At 31 May 2023 5,149,811
At 31 May 2022 4,559,921

Fair value at 31 May 2023 is represented by:
£   
Valuation in 2019 2,255,656
Cost 2,894,155
5,149,811

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Other debtors 563 322,551

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 144,310 155,461
Hire purchase contracts 5,853 2,996
Taxation and social security 34,571 31,652
Other creditors 11,369 11,389
196,103 201,498

Cathays Developments Limited (Registered number: 08058042)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Included within creditors: amounts falling due within one year is an amount of £144,310 (2022 - £155,461) in respect of bank loans repayable in the year. This balance is secured by the way of a fixed and floating charge over the assets of the company.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans 2,371,643 2,429,782
Hire purchase contracts 30,177 2,815
2,401,820 2,432,597

Amounts falling due in more than five years:

Repayable by instalments
Hire purchase - 2,815

Included within creditors: amounts falling due within one year is an amount of £2,371,643 (2022 - £2,429,782) in respect of bank loans repayable in the year. This balance is secured by the way of a fixed and floating charge over the assets of the company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
50 A Ordinary £1 50 100
50 B Ordinary £1 50 -
100 100

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2023 and 31 May 2022:

31.5.23 31.5.22
£    £   
M S Munir
Balance outstanding at start of year (321,894 ) 50,110
Amounts advanced - (321,894 )
Amounts repaid 321,894 (50,110 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (321,894 )

11. ULTIMATE CONTROLLING PARTY

The controlling party is the director.