Company Registration No. 12257555 (England and Wales)
Climb Property Investments Ltd
Unaudited accounts
for the period from 1 November 2022 to 31 March 2024
Climb Property Investments Ltd
Unaudited accounts
Contents
Climb Property Investments Ltd
Company Information
for the period from 1 November 2022 to 31 March 2024
Directors
Chaitaniya Limbachia
Anisha Rai-Limbachia
Company Number
12257555 (England and Wales)
Registered Office
17 Furnace Drive Furnace Drive
Furnace Green
Crawley
RH10 6HZ
England
Accountants
Wright Pottage Limited
Europa House
20 Esplanade
Scarborough
North Yorkshire
YO11 2AQ
Climb Property Investments Ltd
Statement of financial position
as at 31 March 2024
Investment property
250,000
-
Cash at bank and in hand
2,321
10,562
Creditors: amounts falling due within one year
(67,158)
(67,258)
Net current liabilities
(64,837)
(56,696)
Total assets less current liabilities
185,163
150,469
Creditors: amounts falling due after more than one year
(149,996)
(149,996)
Provisions for liabilities
Called up share capital
200
200
Revaluation reserve
34,696
-
Profit and loss account
(7,133)
273
Shareholders' funds
27,763
473
For the period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 10 October 2024 and were signed on its behalf by
Chaitaniya Limbachia
Director
Company Registration No. 12257555
Climb Property Investments Ltd
Notes to the Accounts
for the period from 1 November 2022 to 31 March 2024
Climb Property Investments Ltd is a private company, limited by shares, registered in England and Wales, registration number 12257555. The registered office is 17 Furnace Drive Furnace Drive, Furnace Green, Crawley, RH10 6HZ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
No depreciation
The completed investment properties are stated at fair value in accordance with the requirements of Section 1A ''Small Entities''
of Financial Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland''.
The investment properties have been valued by the directors at fair value taking into account existing tenancy arrangements.
During the year a increase in the fair value of investment properties of £42,835 has been included directly in the profit and loss
account.
Climb Property Investments Ltd
Notes to the Accounts
for the period from 1 November 2022 to 31 March 2024
4
Tangible fixed assets
Land & buildings
At 1 November 2022
207,165
At 31 October 2022
207,165
Net gain from fair value adjustments
42,835
The company changed the classification of land and buildings to that of investment property in the year. All freehold property is
held as investment property.
6
Creditors: amounts falling due within one year
2024
2022
Taxes and social security
(1,003)
1,002
Loans from directors
67,396
65,356
7
Creditors: amounts falling due after more than one year
2024
2022
Bank loans
149,996
149,996
8
Average number of employees
During the period the average number of employees was 2 (2022: 2).