Registration number:
C E Properties (NI) Limited
for the Year Ended 31 January 2024
C E Properties (NI) Limited
(Registration number: NI053649)
Balance Sheet as at 31 January 2024
Note |
2024 |
2023 |
|
Fixed assets |
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Investment property |
|
|
|
Current assets |
|||
Cash at bank and in hand |
|
|
|
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
Net assets/(liabilities) |
|
( |
|
Capital and reserves |
|||
Called up share capital |
2 |
2 |
|
Retained earnings |
8,775 |
(56,864) |
|
Shareholders' funds/(deficit) |
8,777 |
(56,862) |
For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
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 Profit and Loss Account.
C E Properties (NI) Limited
(Registration number: NI053649)
Balance Sheet as at 31 January 2024
Approved and authorised by the
......................................... |
C E Properties (NI) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024
General information |
The company is a private company limited by share capital, incorporated in Northern Ireland.
The address of its registered office is:
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.
Going concern
Despite the fact the company's liabilities exceeds its assets the director considers it appropriate to prepare the accounts on a going concern basis. The company is supported by a loan from the director and he has indicated that this support will continue for the forseeable future.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for rental income received in the ordinary course of the Company’s activities.
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.
Investment property
C E Properties (NI) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Short-term debtors and creditors
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 income statement in operating expenses.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Investment properties |
2024 |
|
At 1 February |
|
Disposals |
( |
Fair value adjustments |
|
At 31 January |
|
The properties were valued by the directors at the year end.
C E Properties (NI) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024
Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
|
|
|
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
2 |
|
2 |
Reserves |
2024 |
2023 |
|
Distributable reserves |
(92,666) |
(60,403) |
Non-distributable reserves |
101,441 |
3,539 |
8,775 |
(56,864) |
Loans and borrowings |
Non-current loans and borrowings
2024 |
2023 |
|
Bank borrowings |
|
|
Other borrowings |
|
|
|
|
Related party transactions |
The following balance was owed to the director at the year end:
2024 |
2023 |
|
Directors current account |
94,528 |
90,214 |