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REGISTERED NUMBER: 09983028 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

PROPERTIES 48 LIMITED

PROPERTIES 48 LIMITED (REGISTERED NUMBER: 09983028)

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


PROPERTIES 48 LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: K J Cooper





REGISTERED OFFICE: c/o CBHC Ltd, Suite 3
First Floor
Church Lane
Chelmsford
Essex
CM1 1NH





BUSINESS ADDRESS: The Old Power Station, Unit 5c
Enterprise Court
Lakes Road
Braintree
Essex
CM7 3QS





REGISTERED NUMBER: 09983028 (England and Wales)





ACCOUNTANTS: CBHC Limited
Suite 3, Steeple House
Church Lane
Chelmsford
Essex
CM1 1NH

PROPERTIES 48 LIMITED (REGISTERED NUMBER: 09983028)

BALANCE SHEET
31 DECEMBER 2023

31/12/23 31/12/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,137,320 2,154,939

CURRENT ASSETS
Debtors 5 73,433 -
Cash at bank and in hand 1,673 4,403
75,106 4,403
CREDITORS
Amounts falling due within one year 6 397,207 379,873
NET CURRENT LIABILITIES (322,101 ) (375,470 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,815,219

1,779,469

CREDITORS
Amounts falling due after more than one year 7 887,062 918,138
NET ASSETS 928,157 861,331

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Revaluation reserve 521,011 521,011
Retained earnings 406,146 339,320
928,157 861,331

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.

PROPERTIES 48 LIMITED (REGISTERED NUMBER: 09983028)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 September 2024 and were signed by:





K J Cooper - Director


PROPERTIES 48 LIMITED (REGISTERED NUMBER: 09983028)

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


1. STATUTORY INFORMATION

Properties 48 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. 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 as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

There is no depreciation charged on the freehold properties, this is not in accordance with the requirements of FRS 102.
The directors believe that the properties will continue to appreciate in value and therefore do not believe that charging depreciation is appropriate.

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.

3. EMPLOYEES AND DIRECTORS

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

PROPERTIES 48 LIMITED (REGISTERED NUMBER: 09983028)

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


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 January 2023
and 31 December 2023 2,100,000 94,242 2,194,242
DEPRECIATION
At 1 January 2023 - 39,303 39,303
Charge for year - 17,619 17,619
At 31 December 2023 - 56,922 56,922
NET BOOK VALUE
At 31 December 2023 2,100,000 37,320 2,137,320
At 31 December 2022 2,100,000 54,939 2,154,939

Cost or valuation at 31 December 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
2021
Valuation in 2022 80,000 - 80,000
Cost 1,578,989 94,242 1,673,231
2,100,000 94,242 2,194,242

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

31/12/23 31/12/22
£    £   
Cost 1,578,988 1,578,988

Freehold land and buildings were valued on an open market basis on 15 February 2022 by Whybrow Chartered Surveyors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade debtors 73,433 -

PROPERTIES 48 LIMITED (REGISTERED NUMBER: 09983028)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Bank loans and overdrafts 72,850 72,850
Amounts owed to group undertakings 184,125 306,790
Taxation and social security 232 233
Other creditors 140,000 -
397,207 379,873

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/12/23 31/12/22
£    £   
Bank loans 887,062 918,138

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the company owed the director Mr K Cooper £140,000.

9. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed £184,125 (2022- £306,790) to Coco Lighting Limited, a company within the group.

Also, included within Trade Debtors is a balance owed to the company from Coco Lighting Limited of £73,433.

During the year the Company received fees totalling £178,000 in relation to rent charges from Coco Lighting Limited, a company within the group.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party of the Company during the year was Mr K Cooper, the Director of the Parent Company Coco Lighting Group.