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Registration number: 00543683

C.B.L.(Property Investment)Co Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

C.B.L.(Property Investment)Co Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Statement of Changes in Equity

4

Notes to the Unaudited Financial Statements

5 to 10

 

C.B.L.(Property Investment)Co Limited

Company Information

Directors

C S Landau

J E Landau

M P A Landau

Registered office

Flat 3 The Courtyard
Bedwell Park
Cucumber Lane
Essendon
Hertfordshire
AL9 6GH

Accountants

Sterlings Ltd
Chartered Accountants
Lawford House
Albert Place
London
N3 1QA

 

C.B.L.(Property Investment)Co Limited

(Registration number: 00543683)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

973

772

Investment property

5

800,000

800,000

Investments

6

25

25

 

800,998

800,797

Current assets

 

Debtors

7

8,759

3,594

Cash at bank and in hand

 

1,552

2,577

 

10,311

6,171

Creditors: Amounts falling due within one year

8

(599,896)

(599,532)

Net current liabilities

 

(589,585)

(593,361)

Net assets

 

211,413

207,436

Capital and reserves

 

Called up share capital

9

10,000

10,000

Profit and loss account

201,413

197,436

Shareholders' funds

 

211,413

207,436

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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.

 

C.B.L.(Property Investment)Co Limited

(Registration number: 00543683)
Balance Sheet as at 30 June 2024

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.

Approved and authorised by the Board on 15 November 2024 and signed on its behalf by:
 

.........................................
C S Landau
Director

 

C.B.L.(Property Investment)Co Limited

Statement of Changes in Equity for the Year Ended 30 June 2024

Share capital
£

Profit and loss account
£

Total
£

At 1 July 2023

10,000

197,436

207,436

Profit for the year

-

43,977

43,977

Dividends

-

(40,000)

(40,000)

At 30 June 2024

10,000

201,413

211,413

Share capital
£

Profit and loss account
£

Total
£

At 1 July 2022

10,000

146,588

156,588

Profit for the year

-

90,848

90,848

Dividends

-

(40,000)

(40,000)

At 30 June 2023

10,000

197,436

207,436

 

C.B.L.(Property Investment)Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Flat 3 The Courtyard
Bedwell Park
Cucumber Lane
Essendon
Hertfordshire
AL9 6GH

These financial statements were authorised for issue by the Board on 15 November 2024.

2

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

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

C.B.L.(Property Investment)Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% on reducing balance

Investment properties

Investment properties are carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments in associates

Investments in associate undertakings are recognised at cost.

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

C.B.L.(Property Investment)Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

C.B.L.(Property Investment)Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 July 2023

2,100

2,100

Additions

525

525

At 30 June 2024

2,625

2,625

Depreciation

At 1 July 2023

1,328

1,328

Charge for the year

324

324

At 30 June 2024

1,652

1,652

Carrying amount

At 30 June 2024

973

973

At 30 June 2023

772

772

5

Investment property

2024
£

At 1 July 2023

800,000

At 30 June 2024

800,000

The directors consider that the valuation of the company's investment property, as at the balance sheet date, was not materially different to the above.


If the investment property had not been revalued, it would have been included at historical cost of £1,618,306 (2023 - £1,618,306).

 

C.B.L.(Property Investment)Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

6

Investments

2024
£

2023
£

Investment in associate

25

25

7

Debtors

Current

2024
£

2023
£

Trade debtors

5,188

-

Prepayments and accrued income

3,571

3,594

 

8,759

3,594

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

559,000

560,000

Taxation and social security

 

13,906

12,506

Accruals and deferred income

 

26,990

27,026

 

599,896

599,532

 

C.B.L.(Property Investment)Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

10,000

10,000

10,000

10,000

       

10

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

559,000

560,000

11

Related party disclosures

Included in Loans and borrowings is a loan of £559,000 (2023 - £560,000) on mortgage from Landau Investments (1978) Limited, a company under common control. The loan carries a commercial rate of interest and, during the year, the sum of £39,288 (2023 - £29,147) was charged to the Profit and Loss account.