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Registration number: 11206936

Concept Facilities Property Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Concept Facilities Property Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Concept Facilities Property Limited

Company Information

Directors

Mr Clifford Barker

Mr David Harding

Registered office

Lindenmuth House
37 Greenham Business Park
Greenham
Thatcham
Berkshire
RG19 6HW

Accountants

Opus Accounting Limited
Chartered Certified Accountants
Lindenmuth House
37 Greenham Business Park
Greenham
Thatcham
Berkshire
RG19 6HW

 

Concept Facilities Property Limited

(Registration number: 11206936)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

189,692

191,710

Current assets

 

Debtors

5

8,280

11,090

Cash at bank and in hand

 

17,038

2,741

 

25,318

13,831

Creditors: Amounts falling due within one year

6

(7,725)

(7,586)

Net current assets

 

17,593

6,245

Net assets

 

207,285

197,955

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

207,185

197,855

Shareholders' funds

 

207,285

197,955

For the financial year ending 31 March 2024 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 June 2024 and signed on its behalf by:
 

 

Concept Facilities Property Limited

(Registration number: 11206936)
Balance Sheet as at 31 March 2024 (continued)

.........................................
Mr Clifford Barker
Director

.........................................
Mr David Harding
Director

 

Concept Facilities Property Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Lindenmuth House
37 Greenham Business Park
Greenham
Thatcham
Berkshire
RG19 6HW
England

These financial statements were authorised for issue by the Board on 10 June 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Concept Facilities Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and Buildings

1% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Concept Facilities Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 April 2023

201,800

201,800

At 31 March 2024

201,800

201,800

Depreciation

At 1 April 2023

10,090

10,090

Charge for the year

2,018

2,018

At 31 March 2024

12,108

12,108

Carrying amount

At 31 March 2024

189,692

189,692

At 31 March 2023

191,710

191,710

Included within the net book value of land and buildings above is £189,692 (2023 - £191,710) in respect of freehold land and buildings.
 

5

Debtors

Current

2024
£

2023
£

Trade debtors

8,280

10,560

Other debtors

-

530

 

8,280

11,090

 

Concept Facilities Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

6,235

6,205

Accruals and deferred income

900

900

Other creditors

590

481

7,725

7,586

 

Concept Facilities Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

8

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £96.00 per each Ordinary

9,600

9,600

 

 

9

Related party transactions

Summary of transactions with other related parties

Concept Facilities Management Limited a company under common control.
 On 1 October 2018 the company purchased Unit 13 Finn's Business Park from Concept Facilities Management Limited. The transaction was for market value of £201,800 and was funded via an inter company loan account.
 

Loans from related parties

2023

Other related parties
£

Total
£

At start of period

129,470

129,470

Repaid

(129,470)

(129,470)

At end of period

-

-

Terms of loans from related parties

On 25 May 2022 £113,470 of the outstanding loan balance was written off, this has been shown as a repayment above.