Company registration number 09942616 (England and Wales)
CR6 PROPERTIES LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
CR6 PROPERTIES LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
CR6 PROPERTIES LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
23,096
25,083
Investment property
4
866,000
814,000
889,096
839,083
Current assets
Debtors
5
56,368
56,368
Cash at bank and in hand
3,787
5,180
60,155
61,548
Creditors: amounts falling due within one year
6
(491,350)
(446,914)
Net current liabilities
(431,195)
(385,366)
Total assets less current liabilities
457,901
453,717
Creditors: amounts falling due after more than one year
7
(484,344)
(469,049)
Net liabilities
(26,443)
(15,332)
Capital and reserves
Called up share capital
8
10
10
Revaluation reserve
48,563
33,801
Profit and loss reserves
(75,016)
(49,143)
Total equity
(26,443)
(15,332)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 28 October 2024 and are signed on its behalf by:
Mr C D C Robshaw
Director
Company registration number 09942616 (England and Wales)
CR6 PROPERTIES LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2024
- 2 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 February 2022
10
-
0
-
0
10
Year ended 31 January 2023:
Loss and total comprehensive income
-
-
(15,342)
(15,342)
Transfers
-
33,801
(33,801)
-
Balance at 31 January 2023
10
33,801
(49,143)
(15,332)
Year ended 31 January 2024:
Loss and total comprehensive income
-
-
(11,111)
(11,111)
Transfers
-
14,762
(14,762)
-
Balance at 31 January 2024
10
48,563
(75,016)
(26,443)
CR6 PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 3 -
1
Accounting policies
Company information

CR6 Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bradbury House, Mission Court, Newport, Gwent, United Kingdom, NP20 2DW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the company hastrue

adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to

adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

Revenue from the provision of rental properties is recognised over the period of rent when, and to the extent that, the company obtains the right to consideration in exchange for services provided.

1.4
Tangible fixed assets

Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
33% Straight Line
Motor vehicles
20% Straight Line
1.5
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

CR6 PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
CR6 PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 5 -
3
Tangible fixed assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 February 2023
-
0
25,800
25,800
Additions
3,210
-
0
3,210
At 31 January 2024
3,210
25,800
29,010
Depreciation and impairment
At 1 February 2023
-
0
717
717
Depreciation charged in the year
324
4,873
5,197
At 31 January 2024
324
5,590
5,914
Carrying amount
At 31 January 2024
2,886
20,210
23,096
At 31 January 2023
-
0
25,083
25,083
4
Investment property
2024
£
Fair value
At 1 February 2023
814,000
Additions
37,238
Revaluations
14,762
At 31 January 2024
866,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 January 2024 by the director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
56,368
56,368
6
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
491,350
446,914
CR6 PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 6 -
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
484,344
469,049

Included above is an amount of £484,344 (2023 - £469,049) which is secured over the companies investment property.

 

Creditors which fall due after five years are as follows:
2024
2023
£
£
Payable by instalments
484,344
469,049
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
10
10
10
10
9
Related party transactions

The company has an existing loan with CR (UK) Limited. At the year end the amount owed to CR (UK) Limited was £485,974 (2023 - £444,974), this amount is included in creditors: amounts falling due within one year. Mr C D C Robshaw is a director of both CR6 Properties Limited and CR (UK) Limited.

10
Directors' transactions

The director operates a current loan account with the company, which is debited with payments made by the company on behalf of the director and credited with funds introduced and undrawn director's fees. At the year end the amount outstanding to the director was £740 (2023 - £740). This amount being included in creditors: amounts falling due within one year.

2024-01-312023-02-01false28 October 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityMr C D C RobshawMrs C Kerslakefalsefalse099426162023-02-012024-01-31099426162024-01-31099426162023-01-3109942616core:FurnitureFittings2024-01-3109942616core:MotorVehicles2024-01-3109942616core:FurnitureFittings2023-01-3109942616core:MotorVehicles2023-01-3109942616core:CurrentFinancialInstrumentscore:WithinOneYear2024-01-3109942616core:CurrentFinancialInstrumentscore:WithinOneYear2023-01-3109942616core:Non-currentFinancialInstrumentscore:AfterOneYear2024-01-3109942616core:Non-currentFinancialInstrumentscore:AfterOneYear2023-01-3109942616core:ShareCapital2024-01-3109942616core:ShareCapital2023-01-3109942616core:RevaluationReserve2024-01-3109942616core:RevaluationReserve2023-01-3109942616core:RetainedEarningsAccumulatedLosses2024-01-3109942616core:RetainedEarningsAccumulatedLosses2023-01-3109942616core:ShareCapital2022-01-3109942616core:RevaluationReserve2022-01-3109942616core:RetainedEarningsAccumulatedLosses2022-01-3109942616bus:Director12023-02-012024-01-3109942616core:RetainedEarningsAccumulatedLosses2022-02-012023-01-31099426162022-02-012023-01-3109942616core:RetainedEarningsAccumulatedLosses2023-02-012024-01-3109942616core:RevaluationReserve2022-02-012023-01-3109942616core:RevaluationReserve2023-02-012024-01-3109942616core:FurnitureFittings2023-02-012024-01-3109942616core:MotorVehicles2023-02-012024-01-3109942616core:FurnitureFittings2023-01-3109942616core:MotorVehicles2023-01-31099426162023-01-3109942616core:WithinOneYear2024-01-3109942616core:WithinOneYear2023-01-3109942616core:CurrentFinancialInstruments2024-01-3109942616core:CurrentFinancialInstruments2023-01-3109942616core:Non-currentFinancialInstruments2024-01-3109942616core:Non-currentFinancialInstruments2023-01-3109942616bus:PrivateLimitedCompanyLtd2023-02-012024-01-3109942616bus:SmallCompaniesRegimeForAccounts2023-02-012024-01-3109942616bus:FRS1022023-02-012024-01-3109942616bus:AuditExemptWithAccountantsReport2023-02-012024-01-3109942616bus:Director22023-02-012024-01-3109942616bus:FullAccounts2023-02-012024-01-31xbrli:purexbrli:sharesiso4217:GBP