Registration number:
Century Buildings (Investments) Ltd
for the Year Ended 31 March 2024
Century Buildings (Investments) Ltd
Contents
Statement of Financial Position |
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Notes to the Financial Statements |
Century Buildings (Investments) Ltd
(Registration number: 09226329)
Statement of Financial Position as at 31 March 2024
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2024 |
2023 |
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Fixed assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net current liabilities |
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( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
120 |
120 |
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Revaluation reserve |
419,601 |
419,601 |
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Retained earnings |
619,308 |
556,064 |
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Shareholders' funds |
1,039,029 |
975,785 |
Century Buildings (Investments) Ltd
(Registration number: 09226329)
Statement of Financial Position as at 31 March 2024
For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.
Approved and authorised by the
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Century Buildings (Investments) Ltd
Notes to the Financial Statements for the Year Ended 31 March 2024
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
England
The principal place of business is:
Century Buildings
14 St Marys Parsonage
Manchester
M3 2DF
These financial statements were authorised for issue by the
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.
Revenue recognition
Turnover comprises the fair value of the consideration receivable for rent in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current and deferred 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.
Century Buildings (Investments) Ltd
Notes to the Financial Statements for the Year Ended 31 March 2024
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.
Investment property
This is in accordance with the Financial Reporting Standard 102 which, unlike the Companies Act 2006, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance. The departure from the provision of the Act is required in order to give a true and fair view.
Financial instruments
Classification
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Century Buildings (Investments) Ltd
Notes to the Financial Statements for the Year Ended 31 March 2024
Investment properties |
2024 |
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At 1 April |
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At 31 March |
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The property was valued during year ended 31 March 2018 by Mr S Cook, M.R.I.C.S on an open market basis. In the Director's opinion this value remains unchanged. Its cost on the 23 June 2015 was £1,323,170. Further property was acquired in 2018/2019 at a cost of £108,862 and in 2019/2020 at cost of £3,165, both relating to the original property purchased. In February 2020 a new property was purchased at a cost of £11,000.
Debtors |
Current |
2024 |
2023 |
Prepayments |
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Creditors |
Creditors: amounts falling due within one year
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2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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Taxation and social security |
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Accruals and deferred income |
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Creditors: amounts falling due after more than one year
Note |
2024 |
2023 |
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Due after one year |
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Loans and borrowings |
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Century Buildings (Investments) Ltd
Notes to the Financial Statements for the Year Ended 31 March 2024
Loans and borrowings |
2024 |
2023 |
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Non-current loans and borrowings |
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Bank borrowings |
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Other borrowings |
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2024 |
2023 |
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Current loans and borrowings |
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Bank borrowings |
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Creditors falling due after more than one year includes bank loans amounting to £668,383 (2023 - £727,524), on which security has been given by the company.
Related party transactions |
At the year end the company owed the directors £83,175 (2023 - £100,098). These loans are interest free with no set terms of repayment, but the directors have confirmed that they will not require repayment within the next twelve months. On that basis they are considered to be repayable after more than one year.