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REGISTERED NUMBER: 11712575 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

CPF PROPERTY SERVICES LIMITED

CPF PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 11712575)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CPF PROPERTY SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: S Fraser
K Dewhurst





REGISTERED OFFICE: Site D2 Chain Caul Road
Ashton-On-Ribble
Preston
Lancashire
PR2 2PD





REGISTERED NUMBER: 11712575 (England and Wales)





ACCOUNTANTS: Wallwork Nelson & Johnson
Chandler House
7 Ferry Road Office Park
Riversway
Preston
Lancashire
PR2 2YH

CPF PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 11712575)

BALANCE SHEET
31 DECEMBER 2023

31/12/23 31/12/22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 3,982,893 2,680,218

CURRENT ASSETS
Debtors 5 82,367 39,599
Cash at bank 554 16,367
82,921 55,966
CREDITORS
Amounts falling due within one year 6 4,392,807 2,863,779
NET CURRENT LIABILITIES (4,309,886 ) (2,807,813 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(326,993

)

(127,595

)

CREDITORS
Amounts falling due after more than one
year

7

17,626

26,903
NET LIABILITIES (344,619 ) (154,498 )

CAPITAL AND RESERVES
Called up share capital 10 3 3
Retained earnings (344,622 ) (154,501 )
SHAREHOLDERS' FUNDS (344,619 ) (154,498 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

CPF PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 11712575)

BALANCE SHEET - continued
31 DECEMBER 2023


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 31 July 2024 and were signed on its behalf by:





K Dewhurst - Director


CPF PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 11712575)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

CPF Property Services 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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.

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.

Going concern
Despite the company showing a deficit in shareholder funds, the director believes that, with his continued support, the company will have sufficient financial resources to continue in operation existence for the foreseeable future. In the period since the year end, additional finance has been acquired and lenders have agreed an extension to the repayment date. Thus the going concern basis of accounting in preparing the financial statements has been adopted.

3. EMPLOYEES AND DIRECTORS

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

CPF PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 11712575)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 2,680,218
Additions 1,302,675
At 31 December 2023 3,982,893
NET BOOK VALUE
At 31 December 2023 3,982,893
At 31 December 2022 2,680,218

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Other debtors 82,367 39,599

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Bank loans and overdrafts 2,010,232 1,511,132
Other creditors 2,382,575 1,352,647
4,392,807 2,863,779

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/12/23 31/12/22
£    £   
Bank loans 17,626 26,903

8. SECURED DEBTS

The following secured debts are included within creditors:

31/12/23 31/12/22
£    £   
Bank loans 2,027,858 1,538,035

9. DEFERRED TAX
£   
Balance at 1 January 2023 (36,165 )
Tax Loss (44,596 )
Underprovided in previous year
Balance at 31 December 2023 (80,761 )

CPF PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 11712575)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/12/23 31/12/22
value: £    £   
3 Ordinary £1 3 3

11. RELATED PARTY DISCLOSURES

Joel Cossins and Steven Fraser are considered to be people of significant control via their shareholding in the company.

Joel Cossins has provided an interest free loan with a balance of £216,665 (2022: £216,665) outstanding as at 31 December 2023 and Steven Fraser has provided an interest free loan with a balance outstanding at the year end of £1,135,718 (2022: £330,407). Both loans are repayable on demand.

Joel Cossins is a director of JN Civils Limited. As at 31 December 2023, the accruals of CPF Property Services Limited includes an amount relating to work done by JN Civils Limited as at 31 December 2023 but, not invoiced at this dated of £596,306. The accrued amount is after netting off payments in advance of invoices to JN Civils Limited of £549,210. CPF Property Services Limited received invoices from JN Civils Limited of £1,500,000. The invoices are charged to CPF Property Services Limited at cost.