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Registration number: 09390332

C&N Property Investors Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2024

 

C&N Property Investors Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

C&N Property Investors Ltd

Company Information

Directors

Mr Christopher John Parkes

Mr Neil James Wadmore

Registered office

6 Admirals Close
Fawley
Southampton
Hampshire
SO45 1FQ

Accountants

RiverView Portfolio Limited
1 Market Hill
Calne
Wiltshire
SN11 0BT

 

C&N Property Investors Ltd

(Registration number: 09390332)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

5

477

635

Tangible assets

6

12,931

15,439

 

13,408

16,074

Current assets

 

Debtors

7

74,988

68,694

Cash at bank and in hand

 

169,654

82,398

 

244,642

151,092

Creditors: Amounts falling due within one year

8

(70,764)

(34,272)

Net current assets

 

173,878

116,820

Total assets less current liabilities

 

187,286

132,894

Creditors: Amounts falling due after more than one year

8

(49,686)

(63,592)

Net assets

 

137,600

69,302

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

136,600

68,302

Shareholders' funds

 

137,600

69,302

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 24 September 2024 and signed on its behalf by:
 

.........................................
Mr Christopher John Parkes
Director

 

C&N Property Investors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
6 Admirals Close
Fawley
Southampton
Hampshire
SO45 1FQ
England

These financial statements were authorised for issue by the Board on 24 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

C&N Property Investors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

2

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixture and fittings

25% Reducing balance

Office equipment

25% Reducing balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

25% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

C&N Property Investors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

4,310

5,146

Amortisation expense

159

211

 

C&N Property Investors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

5

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 February 2023

1,506

1,506

At 31 January 2024

1,506

1,506

Amortisation

At 1 February 2023

871

871

Amortisation charge

158

158

At 31 January 2024

1,029

1,029

Carrying amount

At 31 January 2024

477

477

At 31 January 2023

635

635

6

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2023

34,389

34,389

Additions

1,802

1,802

At 31 January 2024

36,191

36,191

Depreciation

At 1 February 2023

18,950

18,950

Charge for the year

4,310

4,310

At 31 January 2024

23,260

23,260

Carrying amount

At 31 January 2024

12,931

12,931

At 31 January 2023

15,439

15,439

 

C&N Property Investors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

7

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

14,031

6,035

Amounts owed by related parties

8,351

22,335

Prepayments

 

18,178

15,136

Other debtors

 

34,428

25,188

   

74,988

68,694

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

2,498

4,933

Taxation and social security

45,850

28,885

Accruals and deferred income

413

453

Other creditors

22,003

1

70,764

34,272

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

49,686

63,592