Registered number
12344989
Century Dwellings Ltd
Filleted Accounts
31 January 2024
Century Dwellings Ltd
Registered number: 12344989
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Investment property 3 4,230,000 4,230,000
Current assets
Debtors 4 107,155 1,152
Cash at bank and in hand 38 476
107,193 1,628
Creditors: amounts falling due within one year 5 (1,299,559) (1,169,324)
Net current liabilities (1,192,366) (1,167,696)
Total assets less current liabilities 3,037,634 3,062,304
Creditors: amounts falling due after more than one year 6 (3,055,115) (3,059,851)
Provisions for liabilities 8 (8,550) (8,550)
Net liabilities (26,031) (6,097)
Capital and reserves
Called up share capital 1 1
Other reserves 8 36,450 36,450
Profit and loss account (62,482) (42,548)
Shareholder's funds (26,031) (6,097)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Friedman
Director
Approved by the board on 10 January 2025
Century Dwellings Ltd
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit and loss.
Taxation
Taxation for the year 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 as the amount of tax payable using tax rates and laws 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 year end and that are expected to apply to the reversal of timing differences.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Investment Property
Land and buildings
£
Cost
At 1 February 2023 4,230,000
At 31 January 2024 4,230,000
Depreciation
At 31 January 2024 -
Fair value and net book value
At 31 January 2024 4,230,000
At 31 January 2023 4,230,000
The fair value of the investment property has been arrived at on the basis of a valuation carried out at the year by the director. The valuation was made on an open market basis by reference to market evidence of transaction prices for similar properties.
4 Debtors 2024 2023
£ £
Trade debtors 7,155 1,152
Other debtors 100,000 -
107,155 1,152
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 285 3,263
Amounts owed to group undertakings and undertakings in which the company has a participating interest 507,120 504,107
Other creditors 792,154 661,954
1,299,559 1,169,324
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 3,055,115 3,059,851
7 Loans 2024 2023
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 3,055,115 3,059,851
The bank loans amounting to £3,019,930 (2023: £3,019,921) are secured by way of a legal charge over the investment properties of the company.
8 Provision for liabilities 2024 2023
£ £
Deferred tax provided in the year 8,550 8,550
9 Related party disclosure
Included within other creditors is an amount of £773,460 (2023: £641,400) due to Bellview Estates Ltd, a company in which J Friedman has a material interest.
There are no terms as to interest or repayment in respect of the above balances.
8 Revaluation reserve 2024 2023
£ £
At 1 February 2023 36,450 36,450
Gain on revaluation of land and buildings -
At 31 January 2024 36,450 36,450
9 Other information
Century Dwellings Ltd is a private company limited by shares and incorporated in England. Its registered office is:
16c Urban Hive
Theydon Road
London
E5 9BQ
Century Dwellings Ltd 12344989 false 2023-02-01 2024-01-31 2024-01-31 VT Final Accounts April 2024 J Friedman No description of principal activity 12344989 2022-02-01 2023-01-31 12344989 core:WithinOneYear 2023-01-31 12344989 core:AfterOneYear 2023-01-31 12344989 core:ShareCapital 2023-01-31 12344989 core:OtherReservesSubtotal 2023-01-31 12344989 core:RetainedEarningsAccumulatedLosses 2023-01-31 12344989 core:RevaluationReserve 2022-01-31 12344989 2023-02-01 2024-01-31 12344989 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 12344989 bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 12344989 bus:Director40 2023-02-01 2024-01-31 12344989 core:RevaluationReserve core:LandBuildings 2023-02-01 2024-01-31 12344989 countries:England 2023-02-01 2024-01-31 12344989 bus:FRS102 2023-02-01 2024-01-31 12344989 bus:FilletedAccounts 2023-02-01 2024-01-31 12344989 2024-01-31 12344989 core:WithinOneYear 2024-01-31 12344989 core:AfterOneYear 2024-01-31 12344989 core:ShareCapital 2024-01-31 12344989 core:OtherReservesSubtotal 2024-01-31 12344989 core:RetainedEarningsAccumulatedLosses 2024-01-31 12344989 core:LandBuildings 2024-01-31 12344989 core:RevaluationReserve 2024-01-31 12344989 2023-01-31 12344989 core:LandBuildings 2023-01-31 12344989 core:RevaluationReserve 2023-01-31 iso4217:GBP xbrli:pure