Silverfin false false 05/04/2024 06/04/2023 05/04/2024 Mr E I C Wordsworth 12/05/2020 Mr M E C Wordsworth 12/05/2020 28 December 2024 The principal activity of the company is letting and operating of own or leased real estate. 12598054 2024-04-05 12598054 bus:Director1 2024-04-05 12598054 bus:Director2 2024-04-05 12598054 2023-04-05 12598054 core:CurrentFinancialInstruments 2024-04-05 12598054 core:CurrentFinancialInstruments 2023-04-05 12598054 core:Non-currentFinancialInstruments 2024-04-05 12598054 core:Non-currentFinancialInstruments 2023-04-05 12598054 core:ShareCapital 2024-04-05 12598054 core:ShareCapital 2023-04-05 12598054 core:RetainedEarningsAccumulatedLosses 2024-04-05 12598054 core:RetainedEarningsAccumulatedLosses 2023-04-05 12598054 2023-04-06 2024-04-05 12598054 bus:FilletedAccounts 2023-04-06 2024-04-05 12598054 bus:SmallEntities 2023-04-06 2024-04-05 12598054 bus:AuditExemptWithAccountantsReport 2023-04-06 2024-04-05 12598054 bus:PrivateLimitedCompanyLtd 2023-04-06 2024-04-05 12598054 bus:Director1 2023-04-06 2024-04-05 12598054 bus:Director2 2023-04-06 2024-04-05 12598054 2022-04-06 2023-04-05 12598054 core:Non-currentFinancialInstruments 2023-04-06 2024-04-05 iso4217:GBP xbrli:pure

Company No: 12598054 (England and Wales)

CURWEN PROPERTY LIMITED

Unaudited Financial Statements
For the financial year ended 05 April 2024
Pages for filing with the registrar

CURWEN PROPERTY LIMITED

Unaudited Financial Statements

For the financial year ended 05 April 2024

Contents

CURWEN PROPERTY LIMITED

BALANCE SHEET

As at 05 April 2024
CURWEN PROPERTY LIMITED

BALANCE SHEET (continued)

As at 05 April 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 510,000 510,000
510,000 510,000
Current assets
Debtors 4 163,807 19
Cash at bank and in hand 11,659 4,396
175,466 4,415
Creditors: amounts falling due within one year 5 ( 220,367) ( 280,292)
Net current liabilities (44,901) (275,877)
Total assets less current liabilities 465,099 234,123
Creditors: amounts falling due after more than one year 6 ( 356,628) ( 125,016)
Provision for liabilities ( 27,165) ( 27,892)
Net assets 81,306 81,215
Capital and reserves
Called-up share capital 1,000 1,000
Profit and loss account 80,306 80,215
Total shareholders' funds 81,306 81,215

For the financial year ending 05 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Curwen Property Limited (registered number: 12598054) were approved and authorised for issue by the Board of Directors on 28 December 2024. They were signed on its behalf by:

Mr E I C Wordsworth
Director
CURWEN PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 05 April 2024
CURWEN PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 05 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Curwen Property Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Hitchcock House Hilltop Park, Devizes Road, Salisbury, SP3 4UF, United Kingdom. The principal place of business is 64 Belvedere House, Lower Road, Salisbury, Wiltshire, SP2 9NQ.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover represents the rent receivable for the year. Rental income is recognised in the period to which it relates. Rent received in advance is deferred and presented within accruals and deferred income in creditors. Rent not received but that has been invoiced by the period end is included in trade debtors.

Taxation


Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Properties are held at fair value at the date of valuation less subsequent depreciation and impairment.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a gain reverses a previously recognised loss, or a loss exceeds the accumulated gains in equity.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Investment property

Investment property
£
Valuation
As at 06 April 2023 510,000
Fair value movement 2,271
Disposals (2,271)
As at 05 April 2024 510,000

Valuation

A full market valuation of investment property was completed on 14 November 2022. The fair value of the Company's residential investment property at 05 April 2024 has been arrived at on the basis of valuations carried out on that date by external valuers having appropriate relevant professional qualifications and recent experience in the location and category of property being valued.

4. Debtors

2024 2023
£ £
Other debtors 163,807 19

5. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to directors 207,287 277,017
Accruals and deferred income 4,080 3,275
Other creditors 9,000 0
220,367 280,292

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 356,628 125,016

The bank loans are secured on investment property 3 North Street, Salisbury, SP2 0HA being all of the land and buildings in title WT268193 including all buildings, fixtures and fittings, the related rights and the goodwill with a carrying value of £510,000 (2023: £510,000 ).

7. Related party transactions

Other related party transactions

Included within other debtors is a loan due to the company from Curwen Property 1 Limited, the directors are directors of this company.