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REGISTERED NUMBER: 08451931 (England and Wales)


















Unaudited Financial Statements for the Year Ended 31 March 2024

for

CEM Property Management Limited

CEM Property Management Limited (Registered number: 08451931)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CEM Property Management Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr J E Major
Mrs K Major





SECRETARY: Mrs K Major





REGISTERED OFFICE: St George's House
George Street
Huntingdon
Cambridgeshire
PE29 3GH





REGISTERED NUMBER: 08451931 (England and Wales)





ACCOUNTANTS: George Hay Partnership LLP
Chartered Accountants
St George's House
George Street
Huntingdon
Cambridgeshire
PE29 3GH

CEM Property Management Limited (Registered number: 08451931)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,735,000 2,609,373

CURRENT ASSETS
Debtors 5 2,384 7,835
Cash at bank 39,125 55,484
41,509 63,319
CREDITORS
Amounts falling due within one year 6 160,679 28,223
NET CURRENT (LIABILITIES)/ASSETS (119,170 ) 35,096
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,615,830

2,644,469

CREDITORS
Amounts falling due after more than one
year

7

(1,205,994

)

(1,305,994

)

PROVISIONS FOR LIABILITIES (129,165 ) (106,982 )
NET ASSETS 1,280,671 1,231,493

CAPITAL AND RESERVES
Called up share capital 8 1,000,000 1,000,000
Fair value reserve 9 294,131 227,582
Retained earnings (13,460 ) 3,911
SHAREHOLDERS' FUNDS 1,280,671 1,231,493

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

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.

CEM Property Management Limited (Registered number: 08451931)

Balance Sheet - continued
31 March 2024


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 Board of Directors and authorised for issue on 19 July 2024 and were signed on its behalf by:





Mr J E Major - Director


CEM Property Management Limited (Registered number: 08451931)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

CEM Property Management Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 represents rents receivable and work done and is recognised as soon as the transaction has occured.

Investment property
Investment properties are shown at most recent valuation. Any aggregate surplus or deficit arising from changes in market value is transferred to a revaluation reserve.

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 2 (2023 - 2 ) .

CEM Property Management Limited (Registered number: 08451931)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 2,609,373
Additions 36,895
Revaluations 88,732
At 31 March 2024 2,735,000
NET BOOK VALUE
At 31 March 2024 2,735,000
At 31 March 2023 2,609,373

The investment properties were valued on an open market basis on 31st March 2023. The valuation had been advised by property agents.

If the properties had not been revalued, they would have been included at the historical cost of £2,291,455 (2023: £2,254,560).

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 5,210
Other debtors 2,384 2,625
2,384 7,835

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 1,684 136
Other creditors 158,995 28,087
160,679 28,223

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 1,205,994 1,305,994

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000,000 Ordinary A £1 1,000,000 1,000,000

CEM Property Management Limited (Registered number: 08451931)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. RESERVES
Fair
value
reserve
£   
At 1 April 2023 227,582
Revaluation in year 66,549

At 31 March 2024 294,131

10. RELATED PARTY DISCLOSURES

At the balance sheet date, the director had loaned £1,056,098 (2023: £932,146) to the company to finance property acquisitions, of which £916,502 is not repayable before 31st March 2025.