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REGISTERED NUMBER: 00962672 (England and Wales)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

CAMURE LIMITED

CAMURE LIMITED (REGISTERED NUMBER: 00962672)

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

Chartered Accountants' Report 9

CAMURE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Z F Sless
Z R Williams
Y R Sless





SECRETARY: Z R Williams





REGISTERED OFFICE: Harben House
Harben Parade
Finchley Road
London
NW3 6LH





REGISTERED NUMBER: 00962672 (England and Wales)





ACCOUNTANTS: KBSP Partners LLP
Chartered Accountants
Harben House
Harben Parade
Finchley Road
LONDON
NW3 6LH

CAMURE LIMITED (REGISTERED NUMBER: 00962672)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 - 170,035
Investment property 6 18,100,000 17,760,000
18,100,000 17,930,035

CURRENT ASSETS
Debtors 7 170,065 209,370
Cash at bank and in hand 173,757 267,645
343,822 477,015
CREDITORS
Amounts falling due within one year 8 619,387 577,359
NET CURRENT LIABILITIES (275,565 ) (100,344 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

17,824,435

17,829,691

CREDITORS
Amounts falling due after more than one
year

9

(6,319,509

)

(6,584,309

)

PROVISIONS FOR LIABILITIES 11 (1,376,899 ) (1,351,547 )
NET ASSETS 10,128,027 9,893,835

CAPITAL AND RESERVES
Called up share capital 150 150
Non-distributable fair value
reserve 12 7,376,271 7,201,198
Retained earnings 12 2,751,606 2,692,487
SHAREHOLDERS' FUNDS 10,128,027 9,893,835

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

CAMURE LIMITED (REGISTERED NUMBER: 00962672)

BALANCE SHEET - continued
31 MARCH 2024


The 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 December 2024 and were signed on its behalf by:





Z F Sless - Director


CAMURE LIMITED (REGISTERED NUMBER: 00962672)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Camure Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Goodwill
Goodwill, being the amount paid in connection with business acquisitions is being written off evenly over its estimated useful life of twenty years.


Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - not depreciated
Plant and machinery - 20% on reducing balance
Fixtures and fittings - Between 10% and 20% on reducing balance
Furniture - 20% on reducing balance

Freehold buildings and long leasehold properties are depreciated at nil rate as the net realisable value equates to cost.

Investment property
In accordance with Section 16 of Investment Properties of FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", investment properties are measured at cost at initial recognition. The cost of a purchased investment property comprises its purchase price and any directly attributable expenditure such as legal, property taxes and other transaction costs.

Investment properties are subsequently measured and included in the accounts at fair value at each year end. Any surplus or deficit on revaluation is recognised initially in the Profit and Loss Account. All revaluation movements are transferred to a non-distributable reserve called "Non-distributable fair value reserve", unless a deficit below original cost, or its reversal, on an individual property is expected to be permanent, in which case it remains in the retained earnings reserve.

Taxation
Taxation for the year comprises corporation and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Corporation or deferred taxation assets and liabilities are not discounted.

Corporation 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.


CAMURE LIMITED (REGISTERED NUMBER: 00962672)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

Cash and cash equivalents
Cash includes cash in hand and deposits held with banks. Bank overdrafts, when applicable, are shown within borrowings in current liabilities. Cash equivalents are highly liquid investments that are readily convertible to known amounts of cash with insignificant risk of change in value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 63,620
AMORTISATION
At 1 April 2023
and 31 March 2024 63,620
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

CAMURE LIMITED (REGISTERED NUMBER: 00962672)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. TANGIBLE FIXED ASSETS
Freehold Long Plant and
property leasehold machinery
£    £    £   
COST
At 1 April 2023 164,927 7,924 53,666
Reclassification/transfer (164,927 ) - -
At 31 March 2024 - 7,924 53,666
DEPRECIATION
At 1 April 2023 - 7,924 52,698
Charge for year - - 968
At 31 March 2024 - 7,924 53,666
NET BOOK VALUE
At 31 March 2024 - - -
At 31 March 2023 164,927 - 968

Fixtures
and
fittings Furniture Totals
£    £    £   
COST
At 1 April 2023 48,066 48,346 322,929
Reclassification/transfer - - (164,927 )
At 31 March 2024 48,066 48,346 158,002
DEPRECIATION
At 1 April 2023 46,175 46,097 152,894
Charge for year 1,891 2,249 5,108
At 31 March 2024 48,066 48,346 158,002
NET BOOK VALUE
At 31 March 2024 - - -
At 31 March 2023 1,891 2,249 170,035

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 17,760,000
Revaluations 175,073
Reclassification/transfer 164,927
At 31 March 2024 18,100,000
NET BOOK VALUE
At 31 March 2024 18,100,000
At 31 March 2023 17,760,000

CAMURE LIMITED (REGISTERED NUMBER: 00962672)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. INVESTMENT PROPERTY - continued

The majority of investment properties owned by the company were valued by Messrs Savills, a firm of chartered surveyors, during the course of the year. As these valuations seemed a true reflection of the property values at the previous year end any adjustments required were incorporated in those accounts together with the valuation of three properties carried out during the year ending 31st March 2021.Other investment properties not recently valued are stated at valuations obtained from other external firms in previous years. The company intends to ensure that all relevant properties are assessed regularly over a three to four year period.

On a historical cost basis the investment properties would have been included at an original cost of £9,840,802 (2023 : £9,675,875)) and aggregate depreciation of £nil (2023: £nil).

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 117,502 100,876
Funds held by solicitor 52,163 107,868
Prepayments 400 626
170,065 209,370

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 200,000 297,661
Trade creditors 1,821 1,936
Tax 27,195 2,782
Social security and other taxes 711 2,174
VAT - 14,687
Other creditors 132,663 125,219
Accrued expenses 256,997 132,900
619,387 577,359

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 200,000 200,000
Bank loans - 2-5 years 6,087,109 6,287,109
Other creditors 32,400 97,200
6,319,509 6,584,309

CAMURE LIMITED (REGISTERED NUMBER: 00962672)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft - 40,491
Bank loans 6,487,109 6,744,279
6,487,109 6,784,770

The company's principal bankers are Barclays Bank plc who hold a first legal charge over 21 properties owned by the company and a debenture over the company's assets.

The company also banks with HSBC Bank plc.There was an overdraft due to this bank at the previous balance sheet date, and the bank held a first legal charge over one of the company's properties in respect of that overdraft facility.

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 1,376,899 1,351,547

Deferred
tax
£   
Balance at 1 April 2023 1,351,547
Provided during year 25,352
Balance at 31 March 2024 1,376,899

12. RESERVES
Non-distributable
fair
Retained value
earnings reserve Totals
£    £    £   

At 1 April 2023 2,692,487 7,201,198 9,893,685
Profit for the year 234,192 234,192
Fair value adjustments (175,073 ) 175,073 -
At 31 March 2024 2,751,606 7,376,271 10,127,877

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
CAMURE LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Profit and Loss Account and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Camure Limited for the year ended 31 March 2024 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Camure Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Camure Limited and state those matters that we have agreed to state to the Board of Directors of Camure Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Camure Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Camure Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Camure Limited. You consider that Camure Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Camure Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






KBSP Partners LLP
Chartered Accountants
Harben House
Harben Parade
Finchley Road
LONDON
NW3 6LH


2 December 2024