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Registration number: 12472091

Commercial Property Investments Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Commercial Property Investments Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Commercial Property Investments Limited

Company Information

Director

Simon Wanderer

Registered office

2nd Floor, Rico House
George Street
Manchester
M25 9WS

Accountants

Gordon Levy Limited
Chartered Accountants
Suite 5, 4th Floor
3 Universal Square
Devonshire Street North
Manchester, M12 6JH

 

Commercial Property Investments Limited

(Registration number: 12472091)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

95,028

95,028

Current assets

 

Debtors

5

9,974

10,526

Cash at bank and in hand

 

5,744

5,972

 

15,718

16,498

Creditors: Amounts falling due within one year

6

(74,475)

(79,552)

Net current liabilities

 

(58,757)

(63,054)

Total assets less current liabilities

 

36,271

31,974

Creditors: Amounts falling due after more than one year

6

(14,813)

(24,953)

Net assets

 

21,458

7,021

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

21,457

7,020

Shareholders' funds

 

21,458

7,021

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Commercial Property Investments Limited

(Registration number: 12472091)
Balance Sheet as at 29 February 2024

Approved and authorised by the director on 24 November 2024
 

.........................................
Simon Wanderer
Director

 

Commercial Property Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 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:
2nd Floor, Rico House
George Street
Manchester
M25 9WS
United Kingdom

These financial statements were authorised for issue by the director on 24 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable as rental income from the investment property, held in the ordinary course of the company’s activities.

The company recognises revenue when:
The amount of revenue can be reliably measured;
and it is probable that future economic benefits will flow to the entity.

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.

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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate assessed annually by the director of the company, Simon Alexander Wanderer. Mr Wanderer is a qualified chartered surveyor and the Royal Institution of Chartered Surveyors registered valuer. The director 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 income statement.

 

Commercial Property Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 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.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

4

Investment properties

2024
£

At 1 March

95,028

At 29 February

95,028

There has been no valuation of investment property by an independent valuer.

 

Commercial Property Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

5

Debtors

2024
£

2023
£

Other debtors

9,974

10,526

9,974

10,526

 

Commercial Property Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

10,140

9,890

Trade creditors

 

-

496

Taxation and social security

 

6,103

934

Accruals and deferred income

 

496

496

Other creditors

 

57,736

67,736

 

74,475

79,552

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

14,813

24,953

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

14,813

24,953

Current loans and borrowings

2024
£

2023
£

Other borrowings

10,140

9,890

 

Commercial Property Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

9

Related party transactions

Summary of transactions with other related parties

Loans from other related parties comprises amounts owed to Southwell Management Ltd and UK Propco Limited. The aforementioned companies and the reporting entity are companies under common control.
 

Loans from related parties

2024

Other related parties
£

Total
£

At start of period

67,713

67,713

Repaid

(10,000)

(10,000)

At end of period

57,713

57,713

2023

Other related parties
£

Total
£

At start of period

67,713

67,713

At end of period

67,713

67,713

Terms of loans from related parties

The loans are unsecured, interest free and repayable on demand.