Silverfin false false 30/04/2024 01/05/2023 30/04/2024 Mr C A Pickles 07/01/2021 Mrs E G Pickles 07/01/2021 25 October 2024 The principal activity of the company during the year is that of investment property rental. 13120666 2024-04-30 13120666 bus:Director1 2024-04-30 13120666 bus:Director2 2024-04-30 13120666 2023-04-30 13120666 core:CurrentFinancialInstruments 2024-04-30 13120666 core:CurrentFinancialInstruments 2023-04-30 13120666 core:Non-currentFinancialInstruments 2024-04-30 13120666 core:Non-currentFinancialInstruments 2023-04-30 13120666 core:ShareCapital 2024-04-30 13120666 core:ShareCapital 2023-04-30 13120666 core:RetainedEarningsAccumulatedLosses 2024-04-30 13120666 core:RetainedEarningsAccumulatedLosses 2023-04-30 13120666 bus:OrdinaryShareClass1 2024-04-30 13120666 2023-05-01 2024-04-30 13120666 bus:FilletedAccounts 2023-05-01 2024-04-30 13120666 bus:SmallEntities 2023-05-01 2024-04-30 13120666 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 13120666 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 13120666 bus:Director1 2023-05-01 2024-04-30 13120666 bus:Director2 2023-05-01 2024-04-30 13120666 2022-05-01 2023-04-30 13120666 core:Non-currentFinancialInstruments 2023-05-01 2024-04-30 13120666 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 13120666 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13120666 (England and Wales)

CE PROPERTIES (NORTH WEST) LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

CE PROPERTIES (NORTH WEST) LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

CE PROPERTIES (NORTH WEST) LIMITED

BALANCE SHEET

As at 30 April 2024
CE PROPERTIES (NORTH WEST) LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Investment property 4 450,000 290,433
450,000 290,433
Current assets
Cash at bank and in hand 5 453 1,210
453 1,210
Creditors: amounts falling due within one year 6 ( 86,611) ( 84,705)
Net current liabilities (86,158) (83,495)
Total assets less current liabilities 363,842 206,938
Creditors: amounts falling due after more than one year 7 ( 209,830) ( 209,830)
Provision for liabilities 8 ( 38,578) 0
Net assets/(liabilities) 115,434 ( 2,892)
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account 115,334 ( 2,992 )
Total shareholders' funds/(deficit) 115,434 ( 2,892)

For the financial year ending 30 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 CE Properties (North West) Limited (registered number: 13120666) were approved and authorised for issue by the Board of Directors on 25 October 2024. They were signed on its behalf by:

Mr C A Pickles
Director
CE PROPERTIES (NORTH WEST) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
CE PROPERTIES (NORTH WEST) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 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

CE Properties (North West) 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 238-240 Duckworth Street, Darwen, BB3 1PX, United Kingdom.

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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents rental income receivable from the investment properties the company owns.

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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 or reducing balance basis over its expected useful life, as follows:

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

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

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.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

4. Investment property

Investment property
£
Valuation
As at 01 May 2023 290,433
Fair value movement 159,567
As at 30 April 2024 450,000

Valuation

A full market valuation of the investment properties was completed by the directors at the Balance Sheet date.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

2024 2023
£ £
Historic cost 290,433 290,433

4. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 453 1,210

5. Creditors: amounts falling due within one year

2024 2023
£ £
Other creditors 86,611 84,705

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

2024 2023
£ £
Bank loans (secured) 209,830 209,830

The bank loans are secured on the investment properties which the company owns.

7. Provision for liabilities

2024 2023
£ £
Deferred tax 38,578 0

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100