Registered number
12441273
Cactus Property Ltd
Filleted Accounts
29 February 2024
Cactus Property Ltd
Registered number: 12441273
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 245,700 250,000
Current assets
Cash at bank and in hand 8,419 5,229
Creditors: amounts falling due within one year 4 (65,486) (64,572)
Net current liabilities (57,067) (59,343)
Total assets less current liabilities 188,633 190,657
Creditors: amounts falling due after more than one year 5 (153,050) (153,050)
Provisions for liabilities (7,024) (7,829)
Net assets 28,559 29,778
Capital and reserves
Called up share capital 400 400
Profit and loss account 28,159 29,378
Shareholders' funds 28,559 29,778
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.
Mrs A A Higginson
Director
Approved by the board on 29 November 2024
Cactus Property Ltd
Notes to the Accounts
for the year ended 29 February 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).
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Investments
Other
investments
£
Cost
At 1 March 2023 250,000
Revaluation (4,300)
At 29 February 2024 245,700
Historical cost
At 1 March 2023 217,991
At 29 February 2024 217,991
4 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 519 -
Other creditors 64,967 64,572
65,486 64,572
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 153,050 153,050
6 Loans 2024 2023
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 153,050 153,050
Secured bank loans 153,050 153,050
The bank loan is secured by way of a charge over the investment property owned by the company.
7 Related party transactions
During the year the directors provided an interest-free loan to the company. The amount due from the company at the year end was £63,789 (2023: £63,417).
8 Controlling party
The company is owned and controlled by its directors, Mr D C Higginson and Mrs A A Higginson.
9 Other information
Cactus Property Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Old Bank Building
East Street
Ilminster
TA19 0AJ
Cactus Property Ltd 12441273 false 2023-03-01 2024-02-29 2024-02-29 VT Final Accounts July 2024 Mrs A A Higginson No description of principal activity 12441273 2022-03-01 2023-02-28 12441273 core:WithinOneYear 2023-02-28 12441273 core:AfterOneYear 2023-02-28 12441273 core:ShareCapital 2023-02-28 12441273 core:RetainedEarningsAccumulatedLosses 2023-02-28 12441273 2023-03-01 2024-02-29 12441273 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 12441273 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 12441273 bus:Director40 2023-03-01 2024-02-29 12441273 2 2023-03-01 2024-02-29 12441273 countries:England 2023-03-01 2024-02-29 12441273 bus:FRS102 2023-03-01 2024-02-29 12441273 bus:FilletedAccounts 2023-03-01 2024-02-29 12441273 2024-02-29 12441273 core:WithinOneYear 2024-02-29 12441273 core:AfterOneYear 2024-02-29 12441273 core:ShareCapital 2024-02-29 12441273 core:RetainedEarningsAccumulatedLosses 2024-02-29 12441273 core:RevaluationsIncreaseDecreaseInInvestments 2024-02-29 12441273 2023-02-28 iso4217:GBP xbrli:pure