REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 July 2023 |
for |
Ciconia Properties Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 July 2023 |
for |
Ciconia Properties Limited |
Ciconia Properties Limited (Registered number: 11485019) |
Contents of the Financial Statements |
for the Year Ended 31 July 2023 |
Page |
Statement of Financial Position | 1 |
Notes to the Financial Statements | 3 |
Ciconia Properties Limited (Registered number: 11485019) |
Statement of Financial Position |
31 July 2023 |
31.7.23 | 31.7.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS/(LIABILITIES) | ( |
) |
Ciconia Properties Limited (Registered number: 11485019) |
Statement of Financial Position - continued |
31 July 2023 |
31.7.23 | 31.7.22 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Fair value reserve | 10 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
The directors acknowledge their 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Ciconia Properties Limited (Registered number: 11485019) |
Notes to the Financial Statements |
for the Year Ended 31 July 2023 |
1. | STATUTORY INFORMATION |
Ciconia Properties Limited is a |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the fair value of rent received or receivable from the investment properties, excluding discounts, rebates, value added tax and other sales taxes. |
Investment property |
Investment properties are 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 statement of financial position date. |
Ciconia Properties Limited (Registered number: 11485019) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 |
4. | INVESTMENT PROPERTY |
Total |
£ |
COST OR VALUATION |
At 1 August 2022 |
Additions |
Revaluations |
At 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 July 2022 |
Ciconia Properties Limited (Registered number: 11485019) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
4. | INVESTMENT PROPERTY - continued |
Investment properties situated at 19 Thomas Street, Tonypandy, CF40 2AH and Flat 4, 6 Charles Street, Blackpool, FY1 3HD are under a charge from Hampshire Trust Bank PLC. The charge was created on 28 May 2020. |
Investment properties situated at 70 High Street, Neyland, Milford Haven SA73 1TF and Flat 4, 39 St Telio Street, Pontarddulais, Swansea, SA4 8RA are under a charge from Hampshire Trust Bank PLC. The charge was created on 22 January 2021. |
Investment property situated at 31, Kensington Place, Newport, NP19 8GP is under a charge from Castle Trust Capital PLC. The charge was created on 24 January 2022. |
Investment properties situated at 50 Commercial Road, Port Talbot, SA13 1LG and 105 Ynyscynon Road, Port Tonypandy, CF40 2LH are under a charge from Hampshire Trust Bank PLC. The charge was created on 07 June 2022. |
Investment properties situated at Rose Cottage, Rhosmaen, Llandeilo, SA19 6NP and Flat 5, 20 Marine Terrace, Aberystwyth, SY23 2AZ are under a charge from Castle Trust Capital PLC. The charge was created on 19 August 2022. |
Investment property situated at 17 All Saints Road, Lytham St. Annes, FY8 1PL is under a charge from Quantum Mortgages Limited. The charge was created on 21 April 2023. |
Investment properties situated at 8 Oaklea, Shildon, DL4 2BP, 15 Lanehouse Road, Thornaby, Stockton-on-tees, TS17 8AF, 46 Kinross Drive, Stanley, DH9 6UT and 56 Jubilee Crescent, Shildon, DL4 2AN are under a charge from Tino B.V. The charge was created on 22 May 2023. |
Cost or valuation at 31 July 2023 is represented by: |
£ |
Valuation in 2020 | 21,553 |
Valuation in 2021 | 1,500 |
Valuation in 2022 | (23,053 | ) |
Valuation in 2023 | 367,519 |
Cost | 2,161,885 |
2,529,404 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.23 | 31.7.22 |
£ | £ |
Other debtors |
Ciconia Properties Limited (Registered number: 11485019) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.23 | 31.7.22 |
£ | £ |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.7.23 | 31.7.22 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst |
Ciconia Properties Limited (Registered number: 11485019) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.7.23 | 31.7.22 |
£ | £ |
Bank loans |
The loan amounting to £99,450 is secured by the way of charge on the properties situated at 19 Thomas Street, Tonypandy, CF40 2AH and Flat 4, 6 Charles Street, Blackpool, FY1 3HD (disclosed as investment properties). The charge was created in the name of Hampshire Trust Bank Plc on 28 May 2020. |
The loan amounting to £135,692 is secured by the way of charge on the properties situated at 70 High Street, Neyland, Milford Haven SA73 1TF and 39 St Telio Street, Pontarddulais, Swansea, SA4 8RA (disclosed as investment properties). The charge was created in the name of Hampshire Trust Bank Plc on 22 January 2021. |
The loan amounting to £191,250 is secured by the way of charge on the properties situated at 50 Commercial Road, Port Talbort, SA13 1LG and 105 Ynyscynon Road, Tonypandy, CF40 2LH (disclosed as investment properties). The charge was created in the name of Hampshire Trust Bank Plc on 07 June 2022. |
The loan amounting to £248,625 is secured by the way of charge on the property situated at 31 Kensington Place, Newport, NP19 8GP (disclosed as investment property). The charge was created in the name of Castle Trust Capital Plc on 24 January 2022. |
The loan amounting to £299,960 is secured by the way of charge on the properties situated at 8 Oaklea, Shildon, DL4 2BP, 15 Lanehouse Road, Thornaby, Stockton-on-tees TS17 8AF, 46 Kinross Drive, Stanley, DH9 6UT and 56 Jubilee Crescent, Shildon, DL4 2AN (disclosed as investment properties). The charge was created in the name of Tino B.V. on 22 May 2023. |
The loan amounting to £206,449 is secured by the way of charge on the property situated at 17 All Saints Road, Lytham St Annes, FY8 1PL (disclosed as investment property). The charge was created in the name of Quantum Mortgages Limited on 21 April 2023. |
The loan amounting to £240,937 is secured by the way of charge on the properties situated at Rose Cottage, Rhosmaen, Llandeilo, SA19 6NP and Flat 5, 20 Marine Terrace, Aberystwyth, SY23 2AZ (disclosed as investment properties). The charge was created in the name of Castle Trust Capital PLC on 19 August 2022. |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.7.23 | 31.7.22 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
Ciconia Properties Limited (Registered number: 11485019) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
10. | RESERVES |
Fair |
value |
reserve |
£ |
Transfer to/from reserves | 330,783 |
At 31 July 2023 |
11. | RELATED PARTY DISCLOSURES |
The company owes £184,595 (2022 : £186,962) to its director, Mr Job Wim Alexander Gutteling who is also a 50% shareholder of the company as at accounting year end date. |
The company owes £624 (2022 : £624) to its director, Mrs Melanie Gutteling-Van Der Heijden who is also a 50% shareholder of the company as at accounting year end date. |
The company owes £466,569 (2022: £70,927) as at accounting year end date to Ciconia Trading Ltd, a company registered in United Kingdom (Company registered number: 11310705). Mr Job Wim Alexander Gutteling and Mrs Melanie Gutteling-Van Der Heijden are also directors and shareholders of this company holding 50% each in this company. |
The company owes £242,161 (2022 : £100,431) as at accounting year end date to Gorsedd Development Ltd, a company registered in United Kingdom (Company registered number: 12912804). Mr Job Wim Alexander Gutteling and Mrs Melanie Gutteling-Van Der Heijden are directors of this company. |
The company was owed £236,278 as at accounting year end date from Riverside Living Investments Ltd, a company registered in United Kingdom (Company registered number: 14087439). Mr Job Wim Alexander Gutteling is also a director of this company. |