Registered number
04019642
Cullimore Investments Limited
Filleted Accounts
31 May 2023
Cullimore Investments Limited
Registered number: 04019642
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Investment Property 4 1,868,836 1,868,836
Current assets
Debtors 5 10,634 709
Cash at bank and in hand 148,230 3,997
158,864 4,706
Creditors: amounts falling due within one year 6 (1,021,848) (859,576)
Net current liabilities (862,984) (854,870)
Total assets less current liabilities 1,005,852 1,013,966
Creditors: amounts falling due after more than one year 7 (850,000) (850,000)
Provisions for liabilities (19,000) (19,000)
Net assets 136,852 144,966
Capital and reserves
Called up share capital 2 2
Revaluation reserve 9 100,000 100,000
Profit and loss account 36,850 44,964
Shareholders' funds 136,852 144,966
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A J Trice
Director
Approved by the board on 12 February 2024
Cullimore Investments Limited
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention, as modified by the revaluation of certain assets, and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment over 3 years
Investment Property
Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2022 1,600
At 31 May 2023 1,600
Depreciation
At 1 June 2022 1,600
At 31 May 2023 1,600
Net book value
At 31 May 2023 -
4 Investment Property
Other
investments
£
Fair Value
At 1 June 2022 1,868,836
At 31 May 2023 1,868,836
Fair Value at the balance sheet date is represented by
Valuation 1,768,835
Cost 1,768,835
3,537,670
5 Debtors 2023 2022
£ £
Other debtors 10,634 709
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - 45,011
Taxation and social security costs 85 85
Other creditors 1,021,763 814,480
1,021,848 859,576
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 850,000 850,000
8 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 850,000 850,000
The bank loans and overdraft are secured by fixed charges held over the investment properties owned by the Company.
9 Revaluation reserve 2023 2022
£ £
At 1 June 2022 100,000 100,000
At 31 May 2023 100,000 100,000
10 Other information
Cullimore Investments Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Studio
72 West Street
Marlow
Bucks
SL7 2BP
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