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Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Canadian & West End Limited

Canadian & West End Limited (Registered number: 09943076)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Canadian & West End Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs S Clark
Mr J P Miles
Mr M Williams FCA





SECRETARIES: Mrs S Clark
Mr G J E Miles





REGISTERED OFFICE: 8-10 South Street
Epsom
Surrey
KT18 7PF





REGISTERED NUMBER: 09943076 (England and Wales)





ACCOUNTANTS: Williams & Co Epsom LLP
Chartered Accountants
8-10 South Street
Epsom
Surrey
KT18 7PF

Canadian & West End Limited (Registered number: 09943076)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 18,720,000 23,013,580

CURRENT ASSETS
Debtors 5 216,277 209,093
Cash at bank 200,498 193,438
416,775 402,531
CREDITORS
Amounts falling due within one year 6 11,084,619 11,759,450
NET CURRENT LIABILITIES (10,667,844 ) (11,356,919 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,052,156

11,656,661

PROVISIONS FOR LIABILITIES 7 1,077,708 1,895,495
NET ASSETS 6,974,448 9,761,166

CAPITAL AND RESERVES
Called up share capital 8 100 100
Fair value reserve 9 3,556,780 7,032,572
Retained earnings 9 3,417,568 2,728,494
SHAREHOLDERS' FUNDS 6,974,448 9,761,166

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.

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 Statement of comprehensive income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2024 and were signed on its behalf by:




Mr M Williams FCA - Director



Mrs S Clark - Director


Canadian & West End Limited (Registered number: 09943076)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Canadian & West End 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006, as applicable to companies subject to the small companies' regime. The financial statements have been prepared under the historical cost convention modified to include the revaluation of investment properties.


Going concern.
The company is reliant on support from the ultimate parent company and is supported by way of the intercompany loan. The parent currently has no intention of demanding repayment on the loan in the immediate future. In the opinion of the directors the going concern is appropriate.

Significant judgements and estimates
Investment property, which is freehold, was revalued to fair value at 1 April 2020, based on a valuation undertaken by a suitably qualified director, with recent experience in the location and class of the investment property being valued.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents rents receivable in relation to the accounting period after adjusting for rent free periods and other agreed rebates and discounts. VAT and other taxes are excluded.

Taxation
Taxation for the period comprises current and deferred 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 or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or substantively enacted by the balance sheet date.

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 period 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.

Investment properties
Investment properties are reviewed annually with any change recognised in the profit and loss account. Any gains arising on the revaluation are taken to the fair value reserve. Where there is a negative revaluation, these balances are first reduced against the fair value reserve (if present) with any remaining balance being taken against the profit and loss account. The properties are valued by the directors unless a third party valuation is available.
.

3. EMPLOYEES AND DIRECTORS

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

Canadian & West End Limited (Registered number: 09943076)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


4. TANGIBLE FIXED ASSETS
Investment
Property
£   
COST OR VALUATION
At 1 April 2023 23,013,580
Revaluations (4,293,580 )
At 31 March 2024 18,720,000
NET BOOK VALUE
At 31 March 2024 18,720,000
At 31 March 2023 23,013,580

No depreciation is provided in respect of the company's investment property. The valuation of the investment property at the balance sheet date has been based upon those performed by a suitably qualified director.

On a historical cost basis, the company's investment property would have been included at an original cost £14,409,168 (2023: £14,409,168).

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 211,584 203,197
Prepayments and accrued income 4,693 5,896
216,277 209,093

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2,432 626
Amounts owed to group undertakings 10,635,375 11,278,116
Tax 170,664 213,354
VAT 76,540 69,318
Deferred income 199,608 198,036
11,084,619 11,759,450

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 1,077,708 1,895,495

Deferred
tax
£   
Balance at 1 April 2023 1,895,495
Provided during year (817,787 )
Balance at 31 March 2024 1,077,708

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

Canadian & West End Limited (Registered number: 09943076)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1.00 100 100

9. RESERVES

The Company's other reserves are as follows:

The retained earnings reserve represents cumulative profits or losses, net of dividends paid and other adjustments.

The fair value reserve represents the cumulative effect of revaluations of freehold land and buildings which are revalued to fair value at each reporting date.

10. 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.

Director's remuneration and pension contributions are borne by other group companies and details can be found in the financial statements of these companies. An appropriate apportionment for the element of the remuneration which relates to the company is not material and as such no charge has been made.

11. ULTIMATE PARENT COMPANY

The immediate and ultimate parent company is Canadian & Portland (Holdings) Limited, a company incorporated in England and Wales. Consolidated financial statements are prepared by this entity and copies can be obtained from the registered office at 76 New Bond Street, London, W1S 1RX.

12. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.

13. CROSS GUARANTEE

The company's investment property is provided as security by way of a 1st charge and debenture in respect of a £15,000,000 loan in fellow subsidiary Canadian & Riverside Limited. The loan is disclosed in the financial statements of Canadian & Riverside Limited.