Company registration number 10575494 (England and Wales)
CYPNIA LETTINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
CYPNIA LETTINGS LIMITED
COMPANY INFORMATION
Directors
S Singh
G Nicolaou
Secretary
S Singh
G Nicolaou
Company number
10575494
Registered office
Station Hotel
Castle Hill
Dudley
West Midlands
DY1 4RA
Accountants
Jerroms GCN Limited
West Point, Second Floor
Mucklow Office Park
Mucklow Hill
Halesowen
B62 8DY
CYPNIA LETTINGS LIMITED
CONTENTS
Page
Accountants' report
1
Statement of financial position
2 - 3
Notes to the financial statements
4 - 6
CYPNIA LETTINGS LIMITED
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF CYPNIA LETTINGS LIMITED
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cypnia Lettings Limited for the year ended 31 January 2024 which comprise, the statement of financial position and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the board of directors of Cypnia Lettings Limited, as a body, in accordance with the terms of our engagement letter dated 27 November 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Cypnia Lettings Limited and state those matters that we have agreed to state to the board of directors of Cypnia Lettings Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cypnia Lettings Limited and its board of directors as a body for our work or for this report.

It is your duty to ensure that Cypnia Lettings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Cypnia Lettings Limited. You consider that Cypnia Lettings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Cypnia Lettings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Jerroms GCN Limited
9 August 2024
Chartered Certified Accountants
West Point, Second Floor
Mucklow Office Park
Mucklow Hill
Halesowen
B62 8DY
CYPNIA LETTINGS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 JANUARY 2024
31 January 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
794,298
746,007
Current assets
Debtors
4
-
0
500
Creditors: amounts falling due within one year
5
(663,439)
(612,127)
Net current liabilities
(663,439)
(611,627)
Total assets less current liabilities
130,859
134,380
Creditors: amounts falling due after more than one year
6
(126,201)
(130,400)
Net assets
4,658
3,980
Capital and reserves
Called up share capital
8
2
2
Profit and loss reserves
4,656
3,978
Total equity
4,658
3,980
CYPNIA LETTINGS LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 JANUARY 2024
31 January 2024
- 3 -

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

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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 by the board of directors and authorised for issue on 9 August 2024 and are signed on its behalf by:
S Singh
Director
Company Registration No. 10575494
CYPNIA LETTINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 4 -
1
Accounting policies
Company information

Cypnia Lettings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Station Hotel, Castle Hill, Dudley, West Midlands, DY1 4RA.

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 under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

1.3
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:

Freehold property
0%

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.

Depreciation has been provided at 0% on freehold property as in the opinion of the directors, their lives are long and residual values are such that depreciation is not material.

1.4
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.

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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

CYPNIA LETTINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Freehold property
£
Cost
At 1 February 2023
746,007
Additions
48,291
At 31 January 2024
794,298
Depreciation and impairment
At 1 February 2023 and 31 January 2024
-
0
Carrying amount
At 31 January 2024
794,298
At 31 January 2023
746,007
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
-
0
500
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
7
532,680
510,641
Corporation tax
159
2,973
Other creditors
128,619
96,532
Accruals and deferred income
1,981
1,981
663,439
612,127
CYPNIA LETTINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 6 -
6
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
7
126,201
130,400
7
Loans and overdrafts
2024
2023
£
£
Bank loans
644,189
633,167
Bank overdrafts
14,692
7,874
658,881
641,041
Payable within one year
532,680
510,641
Payable after one year
126,201
130,400

The long term bank loans are secured by Together Commercial Finance Limited by way of a fixed and floating charge over various property and undertakings of the company dated 14th March 2024, 11th August 2023, 14th February 2023, 30th January 2023, 7th March 2022 and 2nd December 2021.

 

In addition the bank loans are secured by Shawbrook Bank Limited by way of a fixed charge over various property and undertakings of the company, dated 25th March 2021 and 16th May 2018.

 

In addition the bank loans are secured by Charter Court Financial Services Limited by way of various fixed charges over various property and undertakings of the company, dated 5th July 2024, 21 June 2024, 18th August 2022, 18th December 2019, 13th December 2019, 26th March 2019 and 16th March 2018.

 

In addition the bank loans are secured by Fleet Mortgages Limited by way of a fixed charge over property and undertakings of the company, dated 9th February 2024 and 5th July 2022.

 

 

8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2
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