REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
for |
CPC1 DEVELOPMENTS LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
for |
CPC1 DEVELOPMENTS LIMITED |
CPC1 DEVELOPMENTS LIMITED (REGISTERED NUMBER: 11215108) |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
CPC1 DEVELOPMENTS LIMITED |
Company Information |
for the Year Ended 31 March 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
11 Slayleigh Avenue |
Sheffield |
South Yorkshire |
S10 3RA |
CPC1 DEVELOPMENTS LIMITED (REGISTERED NUMBER: 11215108) |
Balance Sheet |
31 March 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Non-distributable reserve | 8 |
Retained earnings | ( |
) | ( |
) |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
CPC1 DEVELOPMENTS LIMITED (REGISTERED NUMBER: 11215108) |
Balance Sheet - continued |
31 March 2024 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
CPC1 DEVELOPMENTS LIMITED (REGISTERED NUMBER: 11215108) |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
CPC1 Developments Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
Turnover |
Turnover represents rental income from the letting out of investment property, excluding value added tax. Rental income is recognised in accordance with the underlying leases to each investment property. |
Investment property |
Investment properties, for which fair value can be measured reliably without undue cost or effort, are measured at fair value at each reporting date, with changes in fair value recognised in the statement of comprehensive income. |
Taxation |
Taxation for the year comprises current tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Debtors and creditors due within one year |
Debtors and creditors with no stated interest rate, which are due within one year, are stated at the transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income within administrative expenses. |
Loans and borrowings |
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment |
Impairment |
At each balance sheet date, assets are reviewed to determine whether there is any indication that any of the individual assets have suffered an impairment. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the statement of comprehensive income. |
CPC1 DEVELOPMENTS LIMITED (REGISTERED NUMBER: 11215108) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
The company's investment property was valued on a fair value basis by PM Shepherd Chartered Surveyor in January 2022. The director believes the valuation fairly reflects the market value of the investment property at the year end. |
Fair value at 31 March 2024 is represented by: |
£ |
Valuation in 2022 | 485,000 |
Cost | 600,000 |
1,085,000 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Bank loans and overdrafts |
Amounts owed to group undertakings |
Corporation tax |
Other creditors |
Accruals and deferred income |
CPC1 DEVELOPMENTS LIMITED (REGISTERED NUMBER: 11215108) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Bank loans |
8. | RESERVES |
Non-distributable |
reserve |
£ |
At 1 April 2023 |
and 31 March 2024 |
9. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
10. | ULTIMATE CONTROLLING PARTY |
The company's parent company is CPC1 Holdings Limited, whose registered office is the same as can be found on page 1 of the financial statements. |
The ultimate controlling party is S J Hadley. |