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Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Canadian & Riverside Estates Limited

Canadian & Riverside Estates Limited (Registered number: 09208731)

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 & Riverside Estates 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: 09208731 (England and Wales)





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

Canadian & Riverside Estates Limited (Registered number: 09208731)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 19,891,521 22,148,669

CURRENT ASSETS
Debtors 5 840,485 312,375
Cash at bank 877,148 985,851
1,717,633 1,298,226
CREDITORS
Amounts falling due within one year 6 31,814,824 15,801,361
NET CURRENT LIABILITIES (30,097,191 ) (14,503,135 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(10,205,670

)

7,645,534

CREDITORS
Amounts falling due after more than one
year

7

-

15,000,000
NET LIABILITIES (10,205,670 ) (7,354,466 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings (10,205,770 ) (7,354,566 )
SHAREHOLDERS' FUNDS (10,205,670 ) (7,354,466 )

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 Income and Retained Earnings 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 & Riverside Estates Limited (Registered number: 09208731)

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


1. STATUTORY INFORMATION

Canadian & Riverside Estates 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 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.

Significant judgements and estimates
Investment property, which is freehold, was revalued to fair value at 1 April 2021, 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - Straight line over 3 years

Depreciation is charged to administrative expenses.

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).

4. TANGIBLE FIXED ASSETS
Investment Plant and
property machinery Totals
£    £    £   
COST OR VALUATION
At 1 April 2023 22,060,000 274,369 22,334,369
Additions 950,570 405 950,975
Revaluations (3,150,570 ) - (3,150,570 )
At 31 March 2024 19,860,000 274,774 20,134,774
DEPRECIATION
At 1 April 2023 - 185,700 185,700
Charge for year - 57,553 57,553
At 31 March 2024 - 243,253 243,253
NET BOOK VALUE
At 31 March 2024 19,860,000 31,521 19,891,521
At 31 March 2023 22,060,000 88,669 22,148,669

Canadian & Riverside Estates Limited (Registered number: 09208731)

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


4. TANGIBLE FIXED ASSETS - continued

On a historical cost basis, the company's investment property would have been included at an original cost of £33,019,241 (2023: £32,068,266).

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 475,733 108,034
Tax 41,313 75,823
Prepayments 323,439 128,518
840,485 312,375

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 15,000,000 -
Trade creditors 54,922 88,229
Amounts owed to group undertakings 16,226,344 15,116,643
VAT 26,390 125,114
Deferred income 280,510 349,644
Accrued expenses 226,658 121,731
31,814,824 15,801,361

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 2-5 years - 15,000,000

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 15,000,000 15,000,000

The company has a bank loan which is on an interest only basis until December 2024. The loan is secured by way of a first charge and debenture over the company property together with that of fellow subsidiaries.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 ordinary £1 100 100

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 Section 33 '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.

11. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.