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REGISTERED NUMBER: 05266843 (England and Wales)















CADNANT PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023






CADNANT PROPERTIES LIMITED (REGISTERED NUMBER: 05266843)

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


CADNANT PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: A J Tavernor





SECRETARY: G J Hedgecock





REGISTERED OFFICE: Plas Cadnant
Cadnant Road
Menai Bridge
Anglesey
LL59 5NH





REGISTERED NUMBER: 05266843 (England and Wales)

CADNANT PROPERTIES LIMITED (REGISTERED NUMBER: 05266843)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Investment properties 4 5,403,840 5,389,899

CURRENT ASSETS
Debtors 5 190,480 153,256
Cash at bank 37,106 67,768
227,586 221,024
CREDITORS
Amounts falling due within one year 6 (321,846 ) (331,200 )
NET CURRENT LIABILITIES (94,260 ) (110,176 )
TOTAL ASSETS LESS CURRENT LIABILITIES 5,309,580 5,279,723

CREDITORS
Amounts falling due after more than one
year

7

2,274,367

2,381,225

CAPITAL AND RESERVES
Called up share capital 8 1 1
Revaluation reserve (341,023 ) (341,023 )
Retained earnings 3,376,235 3,239,520
SHAREHOLDERS' FUNDS 3,035,213 2,898,498
5,309,580 5,279,723

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 director acknowledges his 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.

CADNANT PROPERTIES LIMITED (REGISTERED NUMBER: 05266843)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 August 2024 and were signed by:





A J Tavernor - Director


CADNANT PROPERTIES LIMITED (REGISTERED NUMBER: 05266843)

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


1. STATUTORY INFORMATION

Cadnant Properties 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT. The policies adopted for the recognition of turnover are as follows:

Rental income
Rental income from operating leases (net of any incentives given to the lessees) is recognised on a straight-line basis over the lease term.

Interest receivable
Interest income is recognised using the effective interest method is recognised as the company's right to receive payment is established.

Investment properties
In the opinion of the director the investment property is included at an amount that accords to its fair value at the balance sheet date. Revaluation deficits are initially recognised in the profit and loss account before being transferred to the Revaluation reserve on the balance sheet.

A deferred tax asset has not been provided on the revaluation deficit as it is unlikely that any provision would be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable with one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

CADNANT PROPERTIES LIMITED (REGISTERED NUMBER: 05266843)

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


3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTIES
Total
£   
FAIR VALUE
At 1 January 2023 5,389,899
Additions 13,941
At 31 December 2023 5,403,840
NET BOOK VALUE
At 31 December 2023 5,403,840
At 31 December 2022 5,389,899

The historical cost of the investment property as at 31 December 2023 was £5,744,864 (2022 £5,730,923).


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 140,175 92,109
Other debtors 30,341 58,930
Prepayments 19,964 2,217
190,480 153,256

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 123,880 147,994
Tax 35,972 28,854
VAT 34,186 26,783
Other creditors 14,751 23,751
Accrued expenses 113,057 103,818
321,846 331,200

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 1,125,813 1,310,612
Other creditors 1,148,554 1,070,613
2,274,367 2,381,225

CADNANT PROPERTIES LIMITED (REGISTERED NUMBER: 05266843)

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


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued

Bank loans totalling £1,249,693 (2022: £1,458,606) are partly secured against the assets of the company and a charge against assets owned personally by the director.

Bank loans include aggregate amounts of £75,446 (2022: £100,828) which fall due after five years and which are repayable by instalments.

Other loans include aggregate amounts of £1,148,554 (2022: £1,070,613) which fall due after five years and which are repayable other than by instalments.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary £1 1 1