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REGISTERED NUMBER: 10602006 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

CAMSENT PROPERTY LIMITED

CAMSENT PROPERTY LIMITED (REGISTERED NUMBER: 10602006)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CAMSENT PROPERTY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: C Chapman
S J Chapman





SECRETARY: C Chapman





REGISTERED OFFICE: 18 Crichton Avenue
Chester le Street
Durham
DH3 3ND





REGISTERED NUMBER: 10602006 (England and Wales)





ACCOUNTANTS: RMT Ribchesters
Accountants and Business Advisors
Finchale House
Belmont Business Park
Durham
DH1 1TW

CAMSENT PROPERTY LIMITED (REGISTERED NUMBER: 10602006)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,973 6,209
Investment property 5 739,790 628,804
744,763 635,013

CURRENT ASSETS
Debtors 6 3,657 6,233
Cash at bank 10,096 33,792
13,753 40,025
CREDITORS
Amounts falling due within one year 7 242,202 219,927
NET CURRENT LIABILITIES (228,449 ) (179,902 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

516,314

455,111

CREDITORS
Amounts falling due after more than one
year

8

(434,162

)

(379,187

)

PROVISIONS FOR LIABILITIES 10 (25,644 ) (25,644 )
NET ASSETS 56,508 50,280

CAPITAL AND RESERVES
Called up share capital 11 2 2
Retained earnings 12 56,506 50,278
SHAREHOLDERS' FUNDS 56,508 50,280

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

CAMSENT PROPERTY LIMITED (REGISTERED NUMBER: 10602006)

BALANCE SHEET - continued
31 MARCH 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 October 2024 and were signed on its behalf by:





C Chapman - Director


CAMSENT PROPERTY LIMITED (REGISTERED NUMBER: 10602006)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Camsent Property 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.

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.

Turnover
Turnover is the amount of rental income falling due during the year, including rents due but not receivable until after the year end. The company is not registered for VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 2 (2023 - 2 ) .

CAMSENT PROPERTY LIMITED (REGISTERED NUMBER: 10602006)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 20,588
DEPRECIATION
At 1 April 2023 14,379
Charge for year 1,236
At 31 March 2024 15,615
NET BOOK VALUE
At 31 March 2024 4,973
At 31 March 2023 6,209

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 628,804
Additions 110,986
At 31 March 2024 739,790
NET BOOK VALUE
At 31 March 2024 739,790
At 31 March 2023 628,804

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 739,790

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 635,478 524,491

Investment properties were valued on a fair value basis on 31 March 2024 by the director's. .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 660 -
Other debtors 2,997 6,233
3,657 6,233

CAMSENT PROPERTY LIMITED (REGISTERED NUMBER: 10602006)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 192 3,645
Other creditors 242,010 216,282
242,202 219,927

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 405,054 335,479
Other creditors 29,108 43,708
434,162 379,187

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 405,054 335,479
Other loans 44,260 58,860
449,314 394,339

The above bank loans are secured against the properties they relate to.

The other loan is secured by way of a 1st legal change over the company's assets.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Other timing differences 25,644 25,644

Deferred
tax
£   
Balance at 1 April 2023 25,644
Charge on deferred tax
due on fair value change
of investment property
Balance at 31 March 2024 25,644

CAMSENT PROPERTY LIMITED (REGISTERED NUMBER: 10602006)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary A £1 1 1
1 Ordinary B £1 1 1
2 2

12. RESERVES

Included within retained earnings is an amount of £78,668 which relate to the increase in value of the Investment Property, less deferred tax, which under FRS102 is now recognised through the profit and loss account. therefore, this results in the full amount of £56,476 retained earnings being undistributable.

13. RELATED PARTY DISCLOSURES

During the year the directors maintained an interest free loan to the company. As at 31 March 2024 the amount outstanding was £222,989 (2023 : £197,970).