Registered number
09300016
2C PROPERTIES Limited
Unaudited Filleted Accounts
31 March 2024
2C PROPERTIES Limited
Registered number: 09300016
Balance Sheet
as at 31 March 2024
Notes 2024 2022
£ £
Fixed assets
Tangible assets 3 2,136 1,702
Current assets
Debtors 4 93,614 35,723
Cash at bank and in hand 82,115 113,523
175,729 149,246
Creditors: amounts falling due within one year 5 (121,990) (116,050)
Net current assets 53,739 33,196
Net assets 55,875 34,898
Capital and reserves
Called up share capital 100 100
Profit and loss account 55,775 34,798
Shareholders' funds 55,875 34,898
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
B TOUSSIMANESH
Director
Approved by the board on 28 September 2024
2C PROPERTIES Limited
Notes to the Accounts
for the period from 1 December 2022 to 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022 4,436
Additions 837
At 31 March 2024 5,273
Depreciation
At 1 December 2022 2,734
Charge for the period 403
At 31 March 2024 3,137
Net book value
At 31 March 2024 2,136
At 30 November 2022 1,702
4 Debtors 2024 2022
£ £
Other debtors 93,614 35,723
5 Creditors: amounts falling due within one year 2024 2022
£ £
Other creditors 121,990 116,050
6 Other information
2C PROPERTIES Limited is a private company limited by shares and incorporated in England. Its registered office is:
5-6 CLIFTON DOWN ROAD
CLIFTON
BRISTOL
BS8 4AG
7 Related party transactions
Other related parties comprises companies owned and controlled by family members of
the owners of 2C Properties Limited. The balances shown below are included in other creditors.
Loans from related parties
Key Other related Total
management parties
£ £ £
2024
At start of period 75,700 37,200 112,900
Repaid 18,260 18,600 36,860
Advanced 42,250 - 42,250
At end of period 99,690 18,600 118,290
2022
At start of period - - -
Repaid - - -
Advanced 75,700 37,200 112,900
At end of period 75,700 37,200 112,900
Terms of loans from related parties
Loans from key management and other related parties are interest free and repayable on demand.
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