2023-03-012024-02-292024-02-29false11930063CULDROSE PROPERTIES 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CULDROSE PROPERTIES LTD

Registered Number
11930063
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

CULDROSE PROPERTIES LTD
Company Information
for the year from 1 March 2023 to 29 February 2024

Directors

CUNNINGHAM, Ian Robert
ENRIGHT, Michael John

Registered Address

34 Acreman Street
Sherborne
DT9 3NX

Registered Number

11930063 (England and Wales)
CULDROSE PROPERTIES LTD
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets345,73554,044
Investment property41,365,5561,365,556
1,411,2911,419,600
Current assets
Debtors51,3761,222
Cash at bank and on hand14,11619,084
15,49220,306
Creditors amounts falling due within one year6(727,829)(11,896)
Net current assets (liabilities)(712,337)8,410
Total assets less current liabilities698,9541,428,010
Net assets698,9541,428,010
Capital and reserves
Called up share capital22
Revaluation reserve643,694643,694
Profit and loss account55,258784,314
Shareholders' funds698,9541,428,010
The financial statements were approved and authorised for issue by the Board of Directors on 14 October 2024, and are signed on its behalf by:
ENRIGHT, Michael John
Director
Registered Company No. 11930063
CULDROSE PROPERTIES LTD
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Fixtures and fittings25
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Plant & machinery

Fixtures & fittings

Total

£££
Cost or valuation
At 01 March 2369,44011,11580,555
At 29 February 2469,44011,11580,555
Depreciation and impairment
At 01 March 2320,9745,53726,511
Charge for year6,9441,3658,309
At 29 February 2427,9186,90234,820
Net book value
At 29 February 2441,5224,21345,735
At 28 February 2348,4665,57854,044
4.Investment property

£
Fair value at 01 March 231,365,556
At 29 February 241,365,556
5.Debtors: amounts due within one year

2024

2023

££
Prepayments and accrued income1,3761,222
Total1,3761,222
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables8105,026
Amounts owed to related parties718,256-
Taxation and social security7,9056,077
Accrued liabilities and deferred income858793
Total727,82911,896