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REGISTERED NUMBER: 08810517 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

CHRIS DUFFY PROPERTY LTD

CHRIS DUFFY PROPERTY LTD (REGISTERED NUMBER: 08810517)

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










Page

Statement of Financial Position 1 to 2

Notes to the Financial Statements 3 to 5


CHRIS DUFFY PROPERTY LTD (REGISTERED NUMBER: 08810517)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Investment property 4 750,000 500,000

CURRENT ASSETS
Debtors 5 1,044 1,283
Cash at bank 1,915 1,470
2,959 2,753
CREDITORS
Amounts falling due within one year 6 (71,658 ) (68,673 )
NET CURRENT LIABILITIES (68,699 ) (65,920 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

681,301

434,080

CREDITORS
Amounts falling due after more than one
year

7

(563,526

)

(332,288

)

PROVISIONS FOR LIABILITIES (33,901 ) (19,340 )
NET ASSETS 83,874 82,452

CAPITAL AND RESERVES
Called up share capital 1 1
Fair value reserve 8 144,059 127,830
Retained earnings (60,186 ) (45,379 )
83,874 82,452

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 director acknowledges his 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.

CHRIS DUFFY PROPERTY LTD (REGISTERED NUMBER: 08810517)

STATEMENT OF FINANCIAL POSITION - 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 director and authorised for issue on 25 October 2024 and were signed by:





C K Duffy - Director


CHRIS DUFFY PROPERTY LTD (REGISTERED NUMBER: 08810517)

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


1. STATUTORY INFORMATION

Chris Duffy Property Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08810517

Registered office: Heathercrest Church Close
Meir Heath
S-O-T
Staffordshire
ST3 7LQ

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.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

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 statement of financial position date.


CHRIS DUFFY PROPERTY LTD (REGISTERED NUMBER: 08810517)

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


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 1 (2023 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 500,000
Additions 215,737
Revaluations 34,263
At 31 March 2024 750,000
NET BOOK VALUE
At 31 March 2024 750,000
At 31 March 2023 500,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2022 188,565
Valuation in 2023 (30,752 )
Valuation in 2024 34,263
Cost 557,924
750,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 1,044 1,283

CHRIS DUFFY PROPERTY LTD (REGISTERED NUMBER: 08810517)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 5,706 5,525
Other creditors 65,952 63,148
71,658 68,673

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 497,384 215,747
Other creditors 66,142 116,541
563,526 332,288

Amounts falling due in more than five years:

Repayable by instalments
Bank loans payable more than
5 years by instalments 472,773 -
472,773 -

8. RESERVES
Fair
value
reserve
£   
At 1 April 2023 127,830
Revaluation 16,229

At 31 March 2024 144,059

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

All transactions undertaken with the directors are deemed to be conducted under normal market conditions and/or are not material.