Company Registration No. 10571504 (England and Wales)
CCMA PROPERTY FINANCE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
CCMA PROPERTY FINANCE LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 6
CCMA PROPERTY FINANCE LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
-
0
823
Investments
5
831,190
659,760
831,190
660,583
Current assets
Debtors
6
1,166
4,626
Cash at bank and in hand
635,819
715,214
636,985
719,840
Creditors: amounts falling due within one year
7
(8,939)
(1,600)
Net current assets
628,046
718,240
Total assets less current liabilities
1,459,236
1,378,823
Provisions for liabilities
8
(8,263)
-
0
Net assets
1,450,973
1,378,823
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
1,450,873
1,378,723
Total equity
1,450,973
1,378,823

The director of the company has elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 15 August 2024
G Leech
Director
Company registration number 10571504 (England and Wales)
CCMA PROPERTY FINANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

CCMA Property Finance Limited is a private company limited by shares incorporated in England and Wales. The registered office is Moor Hatches, West Amesbury, Salisbury, Wiltshire, SP4 7BH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention except for the modification to a fair value basis for certain financial instruments as specified in the accounting policies below.

1.2
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
over 3 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.3
Fixed asset investments

Investments in listed and unlisted company shares have been classified as fixed asset investments as the company intends to hold them on a continuing basis.

 

Listed investments are remeasured to market value at each balance sheet date. Unlisted investments are not listed and are held at cost less impairment as fair value cannot be reliably determined.

 

Gains and losses on re-measurement are recognised in profit or loss for the period.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.5
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

CCMA PROPERTY FINANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. It only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

 

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method less any impairment.

 

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or the risks and rewards of ownership are transferred.

 

Basic financial Liabilities

Basic financial liabilities, including trade and other payables, are initially recognised at transaction price and subsequently measured at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

CCMA PROPERTY FINANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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.

 

If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

 

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The company had no employees during the year.

4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 and 31 March 2024
4,123
Depreciation and impairment
At 1 April 2023
3,300
Depreciation charged in the year
823
At 31 March 2024
4,123
Carrying amount
At 31 March 2024
-
0
At 31 March 2023
823
CCMA PROPERTY FINANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
5
Fixed asset investments
2024
2023
£
£
Other investments other than loans
831,190
659,760
Fixed asset investments revalued

Included in Other investments are listed investments which have been valued on the basis of open market values by reference to the average closing price on the Stock Exchange to £826,190 at the year end. The original book cost was £728,881.

Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 April 2023
659,760
Additions
87,687
Valuation changes
112,599
Disposals
(28,856)
At 31 March 2024
831,190
Carrying amount
At 31 March 2024
831,190
At 31 March 2023
659,760
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Corporation tax recoverable
69
3,810
Other debtors
1,097
816
1,166
4,626

 

7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
5,340
-
0
Other creditors
3,599
1,600
8,939
1,600
CCMA PROPERTY FINANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
8
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company.

 

Liabilities
Liabilities
2024
2023
Balances:
£
£
Tax losses
(8,776)
206
Revaluation on investments
17,039
(3,947)
8,263
(3,741)
2024-03-312023-04-01false15 August 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityG Leechfalsefalse0105715042023-04-012024-03-31105715042024-03-31105715042023-03-3110571504core:OtherPropertyPlantEquipment2024-03-3110571504core:OtherPropertyPlantEquipment2023-03-3110571504core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3110571504core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3110571504core:CurrentFinancialInstruments2024-03-3110571504core:CurrentFinancialInstruments2023-03-3110571504core:ShareCapital2024-03-3110571504core:ShareCapital2023-03-3110571504core:RetainedEarningsAccumulatedLosses2024-03-3110571504core:RetainedEarningsAccumulatedLosses2023-03-3110571504bus:Director12023-04-012024-03-3110571504core:FurnitureFittings2023-04-012024-03-3110571504core:OtherPropertyPlantEquipment2023-03-3110571504core:OtherPropertyPlantEquipment2023-04-012024-03-3110571504core:WithinOneYear2024-03-3110571504core:WithinOneYear2023-03-3110571504bus:PrivateLimitedCompanyLtd2023-04-012024-03-3110571504bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3110571504bus:FRS1022023-04-012024-03-3110571504bus:AuditExemptWithAccountantsReport2023-04-012024-03-3110571504bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP