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COMPANY REGISTRATION NUMBER: 09176528
CPLT Property Ltd
Filleted Unaudited Financial Statements
31 December 2023
CPLT Property Ltd
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
4
1,371,410
1,033,125
Current assets
Debtors
5
36,239
18,254
Cash at bank and in hand
63,581
227,356
--------
---------
99,820
245,610
Creditors: amounts falling due within one year
6
916,423
765,691
---------
---------
Net current liabilities
816,603
520,081
------------
------------
Total assets less current liabilities
554,807
513,044
Creditors: amounts falling due after more than one year
7
117,289
131,436
---------
---------
Net assets
437,518
381,608
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
437,418
381,508
---------
---------
Shareholders funds
437,518
381,608
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31st December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
CPLT Property Ltd
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 29 July 2024 , and are signed on behalf of the board by:
Mr C P Lumsden
Director
Company registration number: 09176528
CPLT Property Ltd
Notes to the Financial Statements
Year ended 31st December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Griffin Farm, Appledore, Ashford, Kent, TN26 2BA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
All fixed assets are initially recorded at cost. Freehold buildings are maintained to ensure that their value does not diminish over time. In the director's opinion, the nature of the property and the level of maintenance will result in the residual value in excess of cost such that depreciation would be immaterial and consequently has not been charged. The building is reviewed for impairment at the end of each reporting period.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Tangible assets
At 1st January 2023
Additions
At 31st December 2023
£
£
£
Cost
Land and buildings
1,033,125
338,285
1,371,410
------------
---------
------------
1,033,125
338,285
1,371,410
------------
---------
------------
At 1st January 2023 and 31st December 2023
£
Depreciation
Land and buildings
----
----
At 31st December 2023
At 31st December 2022
£
£
Carrying amount
Land and buildings
1,371,410
1,033,125
------------
------------
1,371,410
1,033,125
------------
------------
5. Debtors
2023
2022
£
£
Trade debtors
36,239
18,254
--------
--------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
15,222
16,092
Corporation tax
16,422
14,637
Amounts owed to associated undertakings
729,779
734,962
Other creditors
155,000
---------
---------
916,423
765,691
---------
---------
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
117,289
131,436
---------
---------