Castlemore Group Holdings Limited
Registered number: 06061228
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Investments 3 2 203,288
Current assets
Debtors 4 2,914,196 2,735,905
Cash at bank and in hand 73,593 2,825
2,987,789 2,738,730
Creditors: amounts falling due within one year 5 (12,386,986) (12,209,212)
Net current liabilities (9,399,197) (9,470,482)
Net liabilities (9,399,195) (9,267,194)
Capital and reserves
Called up share capital 41,000 41,000
Profit and loss account (9,440,195) (9,308,194)
Shareholders' funds (9,399,195) (9,267,194)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
JG Whateley
Director
Approved by the board on 25 September 2024
Castlemore Group Holdings Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that on the basis of the company's own cash flows and financing arrangements, the company has adequate resources to continue in operational existence for the forseeable future. The directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
3 Investments
Investments in
subsidiary Other
undertakings investments Total
£ £ £
Cost
At 1 January 2023 2 203,286 203,288
Disposals - (203,286) (203,286)
At 31 December 2023 2 - 2
4 Debtors 2023 2022
£ £
Other debtors 2,914,196 2,735,905
5 Creditors: amounts falling due within one year 2023 2022
£ £
Other loans 5,157,733 4,956,480
Trade creditors 6,600 8,413
Amounts owed to group undertakings and undertakings in which the company has a participating interest 7,117,545 7,139,211
Other creditors 105,108 105,108
12,386,986 12,209,212
6 Related party transactions
Cedar Investments Portfolio Limited
Common director
Interest bearing loan
Amount due from (to) the related party (5,157,733) (4,956,480)
Deeble Ventures Two Limited
Common director
Interest bearing loan
Amount due from (to) the related party - 1,479,415
Cedar Invest Limited
Common director
Interest free loan
Amount due from (to) the related party 798,888 231,477
Deeble Ventures One Limited
Common director
Interest bearing loan
Amount due from (to) the related party 672,860 810,404
GJL Developers (Lichfield) Limited
Common director
Interest bearing loan
Amount due from (to) the related party 224,110 219,110
GJL Developers Limited
Common director
Interest bearing loan
Amount due from (to) the related party 1,217,888 -
7 Controlling party
The trustees of a settlement for the benefit of the children of JG Whateley held 74% of the share capital of Castlemore Group Holdings Limited. This trust was established by Mr JG Whateley, a director of the company, for the benefit of his children. The trustees are Mills & Reeve Trust Corporation Limited. The trustees are the ultimate controlling party.
8 Other information
Castlemore Group Holdings Limited is a private company limited by shares and incorporated in England. Its registered office is:
Cedar Court
221 Hagley Road
Hayley Green
West Midlands
B63 1ED
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