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Registered Number: 13199874
England and Wales

 

 

 

C4B PROPERTIES LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 March 2023

End date: 29 February 2024
Directors R M Welsh
M E Welsh
Registered Number 13199874
Registered Office Unit 34
Lune Industrial Estate
Lancaster
Lancashire
LA1 5QP
Accountants Kazbor Services Limited
102 Fairhope Avenue
Bare
Morecambe
LA4 6LA
Bankers NatWest
Church Street
Lancaster
Lancashire
LA1 1LN

1
As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 29 February 2024 and you consider that the company is exempt from an audit under the Companies Act 2006.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.



....................................................

Kazbor Services Limited

102 Fairhope Avenue
Bare
Morecambe
LA4 6LA
25 November 2024
2
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 1,200,000    370,000 
1,200,000    370,000 
Current assets      
Debtors 4 2,245    1,865 
Cash at bank and in hand 17,615    22,651 
19,860    24,516 
Creditors: amount falling due within one year 5 (367,554)   (371,156)
Net current assets (347,694)   (346,640)
 
Total assets less current liabilities 852,306    23,360 
Provisions for liabilities 6 (207,500)  
Net assets 644,806    23,360 
 

Capital and reserves
     
Called up share capital 7 1    1 
Revaluation reserve (Fair Values) 8 622,500   
Profit and loss account 22,305    23,359 
Shareholders' funds 644,806    23,360 
 


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

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 25 November 2024 and were signed on its behalf by:


-------------------------------
R M Welsh
Director
3
General Information
C4B Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 13199874, registration address Unit 34, Lune Industrial Estate, Lancaster, Lancashire, LA1 5QP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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)
Going concern basis
The continuation of the company is reliant upon the financial support of the directors who have confirmed that they will continue to support the company for the foreseeable future. They have also considered the impact of COVID and have the opinion that COVID no longer impacts on the company. The directors consider that there are adequate resources in place to successfully manage its business risks and therefore they continue to adopt the going concern basis when preparing the financial statements.
Turnover
Turnover comprises of the invoiced value of services supplied by the company during the normal course of its business, and this is stated net of trade discounts. Turnover is recognised in the financial statements based on invoiced sales whereby the risks and rewards of the service have passed to the buyer. Invoices are issued at regular intervals during the year. Provisions are made at the reporting date for services that are not aligned with the year-end date, and these are apportioned on a time basis. 
Taxation
The current tax payable is based on the taxable profit or loss for the period. The taxable profit or loss may differ from that reported in the financial statements because adjustments are made for items that are treated differently for taxation compared to their treatment for accounting purposes. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred taxation
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and their treatment for accounting purposes. The deferred tax balance has not been discounted.
A deferred tax asset is recognised to the extent that it is probable that it will be recovered against other future taxable profits. The carrying amount of the deferred tax asset is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled, or asset is realised. 
Investment properties
Investment properties are valued in the financial statements at their fair market value whereby this can be reliably measured without undue cost or effort and any change to those values is recognised in the profit and loss account. The accumulated fair value gain or loss together with any associated deferred tax implications is taken to the revaluation reserves (fair values) and is only transferred to the retained profit and loss reserves on the sale of the relevant investment property. The methods and assumptions used to ascertain the fair market value and subsequent gain, or loss are given below: 
  • Properties are valued using an open market valuation on a freehold basis, conducted annually by the directors.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Financial instruments
The company has elected to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments Issues of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial instruments that are included within these financial statements are valued at the transaction price ruling at the time of the transaction.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees

The average number of employees given below includes directors:

Average number of employees during the year was 2 (2023 : 2).
3.

Tangible fixed assets

Cost or valuation Investment properties   Total
  £   £
At 01 March 2023 370,000    370,000 
Additions  
Disposals  
Revaluations 830,000    830,000 
At 29 February 2024 1,200,000    1,200,000 
Depreciation
At 01 March 2023  
Charge for year  
On disposals  
At 29 February 2024  
Net book values
Closing balance as at 29 February 2024 1,200,000    1,200,000 
Opening balance as at 01 March 2023 370,000    370,000 

Investment properties
The investment properties comprise of commercial units and the directors perform an annual review of their fair market values. 

4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 1,250    1,250 
1,250    1,250 

4.

Debtors: amounts falling due after one year

2024
£
  2023
£
Deferred Tax Asset 995    615 
995    615 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors   2,936 
Other Creditors 367,554    368,220 
367,554    371,156 

6.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax - movement in period 207,500   
207,500   
Deferred Tax
The movement in deferred tax is attributable to movements in investment values.

7.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
1 Ordinary share of £1.00 each  
 

8.

Revaluation reserve (Fair Values)

2024
£
  2023
£
Movements on investment values 622,500   
622,500   
Movement in fair values (investment property)
The following transfers have been made in the revaluation reserve (fair values):

Revaluation reserves (Fair Values)   2024
£
  2023
£
Transfer in: Fair value gains on investment property 830,000 
Transfer out: Deferred tax movements (207,500)
622,500 


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