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REGISTERED NUMBER: 09416843 (England and Wales)










Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Confidence Property Ltd

Confidence Property Ltd (Registered number: 09416843)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Confidence Property Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTOR: S R Gaskin





REGISTERED OFFICE: Oaklea House
46 Coatham Road
Redcar
Cleveland
TS10 1RS





REGISTERED NUMBER: 09416843 (England and Wales)





ACCOUNTANTS: SKS Bailey Group Limited
Oaklea House
46 Coatham Road
Redcar
TS10 1RS

Confidence Property Ltd (Registered number: 09416843)

Balance Sheet
29 February 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 3 855 854

CURRENT ASSETS
Debtors 4 8,796 11,858
Cash at bank 49,289 93,177
58,085 105,035
CREDITORS
Amounts falling due within one year 5 (51,115 ) (66,817 )
NET CURRENT ASSETS 6,970 38,218
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,825

39,072

CREDITORS
Amounts falling due after more than one year 6 (7,728 ) (13,735 )
NET ASSETS 97 25,337

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 95 25,335
97 25,337

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

Confidence Property Ltd (Registered number: 09416843)

Balance Sheet - continued
29 February 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 September 2024 and were signed by:





S R Gaskin - Director


Confidence Property Ltd (Registered number: 09416843)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - NIL ) .

Confidence Property Ltd (Registered number: 09416843)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

3. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 March 2023 4,955 1,100 6,055
Additions 287 - 287
Disposals (4,511 ) - (4,511 )
At 29 February 2024 731 1,100 1,831
DEPRECIATION
At 1 March 2023 4,623 578 5,201
Charge for year 107 179 286
Eliminated on disposal (4,511 ) - (4,511 )
At 29 February 2024 219 757 976
NET BOOK VALUE
At 29 February 2024 512 343 855
At 28 February 2023 332 522 854

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 7,839 11,858
Other debtors 957 -
8,796 11,858

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 6,007 5,860
Trade creditors 5,638 44,001
Corporation tax 7,426 5,180
Social security and other tax 61 -
Pension Liability 42 -
VAT 9,078 -
Other creditors 7,724 4,705
Net wages 592 -
Directors' current accounts - 403
Deferred income 13,567 5,600
Accrued expenses 980 1,068
51,115 66,817

Confidence Property Ltd (Registered number: 09416843)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loan more than 1 year 7,728 13,735

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
S R Gaskin
Balance outstanding at start of year (403 ) (2,403 )
Amounts advanced 58,000 2,000
Amounts repaid (56,900 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 697 (403 )

8. RELATED PARTY DISCLOSURES

During the year included in turnover was an amount of £7,960 (2023 : £4,761) and in cost of sales was an amount of £22,542 (2023 : £23,237) which is related to a company of which Sam Gaskin was a director, Tomax Homes Ltd. At the balance sheet date nil (2023:- £2,277) was owed to this company and nil (2023 - £263) was owing to this company.