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REGISTERED NUMBER: 09956233 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

CGP BEAR LTD

CGP BEAR LTD (REGISTERED NUMBER: 09956233)






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




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


CGP BEAR LTD (REGISTERED NUMBER: 09956233)

STATEMENT OF FINANCIAL POSITION
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,190,000 1,190,000

CURRENT ASSETS
Debtors 5 6,742 7,115
Cash at bank and in hand 4,306 3,051
11,048 10,166
CREDITORS
Amounts falling due within one year 6 323,310 249,495
NET CURRENT LIABILITIES (312,262 ) (239,329 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

877,738

950,671

CREDITORS
Amounts falling due after more than one year 7 (757,194 ) (822,207 )

PROVISIONS FOR LIABILITIES 10 (35,659 ) (27,101 )
NET ASSETS 84,885 101,363

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 106,979 115,537
Retained earnings (22,194 ) (14,274 )
84,885 101,363

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

CGP BEAR LTD (REGISTERED NUMBER: 09956233)

STATEMENT OF FINANCIAL POSITION - continued
31 JANUARY 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 October 2024 and were signed on its behalf by:





Mr G J Polycarpou - Director


CGP BEAR LTD (REGISTERED NUMBER: 09956233)

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

1. STATUTORY INFORMATION

CGP Bear 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: 09956233

Registered office: 1 Kings Avenue
London
N21 3NA

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue
Revenue represents the value of rental income chargeable in respect of the company's investment property.
Revenue is recognised evenly over the period of the rental agreement.

Investment property
Investment property, which is property held to earn rentals, 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 date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Deferred tax is provided on these gains at the rate expected to apply if the property is sold at the balance sheet date.

Deferred taxation
Deferred tax is recognised in respect of all material 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.

CGP BEAR LTD (REGISTERED NUMBER: 09956233)

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

2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023
and 31 January 2024 1,190,000
NET BOOK VALUE
At 31 January 2024 1,190,000
At 31 January 2023 1,190,000

Fair value at 31 January 2024 is representated by:

£
Valuation in 2018142,638
Cost1,047,362
1,190,000


If Investment property had not been revalued revalued it would have been included at the following historical cost:


2023 2022
£ £
Cost1,047,362 1,047,362

The directors consider that the market value of the properties as at the year-end to be as stated in the financial statements

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 6,742 7,115

CGP BEAR LTD (REGISTERED NUMBER: 09956233)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 8) 13,725 13,725
Trade creditors 4,200 2,160
Other creditors 305,385 233,610
323,310 249,495

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 8) 683,987 696,556
Other creditors 73,207 125,651
757,194 822,207

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 629,087 641,656

8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 13,725 13,725

Amounts falling due between two and five years:
Bank loans - 2-5 years 54,900 54,900

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 629,087 641,656

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 697,712 710,281

The bank loans are secured by way of fixed and floating charge on the properties of the company and contains a negative pledge.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 35,659 27,101

CGP BEAR LTD (REGISTERED NUMBER: 09956233)

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

10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 February 2023 27,101
Provided during year 8,558
Balance at 31 January 2024 35,659

11. RELATED PARTY DISCLOSURES

Included in other creditors is an interest free amount of £243,788 (2023: £223,223) owed to connected companies, under common control and £73,207 (2023: £76,511) owed to the directors of the company. The loans are interest-free and repayable on demand.

Also, included in other creditors is an amount of £500 (2023: £500) owed to a connected entity. The loan is interest-free and repayable on demand.