Silverfin false false 31/03/2024 08/02/2023 31/03/2024 S R King 03/10/2023 R C W King 08/02/2023 P A King 03/10/2023 S J Smith 03/10/2023 19 August 2024 The principal activity of the company during the period was that of a property investment company. 14650040 2024-03-31 14650040 bus:Director1 2024-03-31 14650040 bus:Director2 2024-03-31 14650040 bus:Director3 2024-03-31 14650040 bus:Director4 2024-03-31 14650040 core:CurrentFinancialInstruments 2024-03-31 14650040 core:ShareCapital 2024-03-31 14650040 core:RetainedEarningsAccumulatedLosses 2024-03-31 14650040 2023-02-07 14650040 bus:OrdinaryShareClass1 2024-03-31 14650040 2023-02-08 2024-03-31 14650040 bus:FilletedAccounts 2023-02-08 2024-03-31 14650040 bus:SmallEntities 2023-02-08 2024-03-31 14650040 bus:AuditExemptWithAccountantsReport 2023-02-08 2024-03-31 14650040 bus:PrivateLimitedCompanyLtd 2023-02-08 2024-03-31 14650040 bus:Director1 2023-02-08 2024-03-31 14650040 bus:Director2 2023-02-08 2024-03-31 14650040 bus:Director3 2023-02-08 2024-03-31 14650040 bus:Director4 2023-02-08 2024-03-31 14650040 core:CurrentFinancialInstruments 2023-02-08 2024-03-31 14650040 bus:OrdinaryShareClass1 2023-02-08 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 14650040 (England and Wales)

CABOT PARK PROPERTY LIMITED

Unaudited Financial Statements
For the financial period from 08 February 2023 to 31 March 2024
Pages for filing with the registrar

CABOT PARK PROPERTY LIMITED

Unaudited Financial Statements

For the financial period from 08 February 2023 to 31 March 2024

Contents

CABOT PARK PROPERTY LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
CABOT PARK PROPERTY LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 31.03.2024
£
Fixed assets
Investment property 3 2,604,622
2,604,622
Current assets
Cash at bank and in hand 93,915
93,915
Creditors: amounts falling due within one year 4 ( 23,479)
Net current assets 70,436
Total assets less current liabilities 2,675,058
Net assets 2,675,058
Capital and reserves
Called-up share capital 5 2,604,622
Profit and loss account 70,436
Total shareholder's funds 2,675,058

For the financial period 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 financial statements of Cabot Park Property Limited (registered number: 14650040) were approved and authorised for issue by the Board of Directors on 19 August 2024. They were signed on its behalf by:

S R King
Director
CABOT PARK PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 08 February 2023 to 31 March 2024
CABOT PARK PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 08 February 2023 to 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Cabot Park Property Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1 Moorend Farm Avenue, Bristol, BS11 0FR, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Reporting period length

The reporting period length is longer than 12 months in order to bring the year end in line with other Companies in the group.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line/reducing balance basis over its expected useful life.

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Land and buildings were valued at 31 March 2024. The valuation was undertaken by the Directors having recent experience in the location and category of property being valued.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

Period from
08.02.2023 to
31.03.2024
Number
Monthly average number of persons employed by the Company during the period, including directors 5

3. Investment property

Investment property
£
Valuation
As at 08 February 2023 0
Additions 2,604,622
As at 31 March 2024 2,604,622

The fair value of the company's investment property at 31 March 2024 has been arrived at on the basis of valuations carried out on that date by the Directors having recent experience in the location and category of property being valued.

4. Creditors: amounts falling due within one year

31.03.2024
£
Corporation tax 23,479

There are no amounts included above in respect of which any security has been given by the small entity.

5. Called-up share capital

31.03.2024
£
Allotted, called-up and fully-paid
2,604,622 Ordinary shares of £ 1.00 each 2,604,622

On 8 March 2023, 1 Ordinary share of £1 was issued at par value. On 30 March 2023, a further 2,604,621 Ordinary shares of £1 were issued at par value.

6. Related party transactions

During the period the Company has taken advantage of the exemption in section 1AC.35 of FRS 102 to not disclose related party transactions with wholly owned subsidiaries with the group.