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Company No: 05285982 (England and Wales)

CONSTANTIA DEVELOPMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 29 FEBRUARY 2024
PAGES FOR FILING WITH THE REGISTRAR

CONSTANTIA DEVELOPMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 29 FEBRUARY 2024

Contents

CONSTANTIA DEVELOPMENTS LIMITED

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 29 FEBRUARY 2024
CONSTANTIA DEVELOPMENTS LIMITED

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 29 FEBRUARY 2024
DIRECTOR Mr J Singh
SECRETARY Mr S K Singh
REGISTERED OFFICE Wey Court West
Union Road
Farnham
Surrey
GU9 7PT
United Kingdom
COMPANY NUMBER 05285982 (England and Wales)
ACCOUNTANT Shaw Gibbs Limited
Wey Court West
Union Road
Farnham
Surrey
GU9 7PT
CONSTANTIA DEVELOPMENTS LIMITED

BALANCE SHEET

AS AT 29 FEBRUARY 2024
CONSTANTIA DEVELOPMENTS LIMITED

BALANCE SHEET (continued)

AS AT 29 FEBRUARY 2024
Note 29.02.2024 28.02.2023
£ £
Fixed assets
Investment property 2 1,530,000 1,640,000
1,530,000 1,640,000
Current assets
Stocks 1,094,307 1,094,307
Debtors 3 6,087 9,926
Cash at bank and in hand 4,892 40,907
1,105,286 1,145,140
Creditors: amounts falling due within one year 4 ( 1,691,170) ( 1,863,783)
Net current liabilities (585,884) (718,643)
Total assets less current liabilities 944,116 921,357
Creditors: amounts falling due after more than one year 5 ( 672,919) ( 675,501)
Provision for liabilities 6 0 ( 22,654)
Net assets 271,197 223,202
Capital and reserves
Called-up share capital 7 100 100
Revaluation reserve 208,531 209,531
Profit and loss account 62,566 13,571
Total shareholder's funds 271,197 223,202

For the financial year ending 29 February 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Constantia Developments Limited (registered number: 05285982) were approved and authorised for issue by the Director on 13 January 2025. They were signed on its behalf by:

Mr J Singh
Director
CONSTANTIA DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 29 FEBRUARY 2024
CONSTANTIA DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 29 FEBRUARY 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 period, unless otherwise stated.

General information and basis of accounting

Constantia Developments 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 Wey Court West, Union Road, Farnham, Surrey, GU9 7PT, 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 £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

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
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 at the amount of tax payable using the 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 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.

Borrowing costs

All borrowing costs are recognised in profit or loss in the year they are incurred.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Provisions

Provisions are recognised when the has a present obligation (legal or constructive) as a result of a past event, it is probable that the 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).

2. Employees

Year ended
29.02.2024
Period from
28.02.2022 to
28.02.2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

2. Investment property

Investment property
£
Valuation
As at 01 March 2023 1,640,000
Fair value movement (1,000)
Disposals (109,000)
As at 29 February 2024 1,530,000

The 2023 valuations were made by the director, on an open market value for existing use basis.

3. Debtors

29.02.2024 28.02.2023
£ £
Prepayments 6,087 9,926

4. Creditors: amounts falling due within one year

29.02.2024 28.02.2023
£ £
Bank loans 2,200 2,200
Trade creditors 4,384 5,888
Amounts owed to director 980,805 1,139,862
Accruals 17,485 40,621
Taxation and social security 10,321 387
Other creditors 675,975 674,825
1,691,170 1,863,783

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

29.02.2024 28.02.2023
£ £
Other loans 672,919 675,501

6. Deferred tax

29.02.2024 28.02.2023
£ £
At the beginning of financial year/period ( 22,654) ( 2,488)
Credited/(charged) to the Profit and Loss Account 22,654 ( 20,166)
At the end of financial year/period 0 ( 22,654)

7. Called-up share capital

29.02.2024 28.02.2023
£ £
Allotted, called-up and fully-paid
100 shares ordinary shares of £ 1.00 each 100 100

Investment Property Revaluation Reserve

The balance held in investment property reserve is unrealised surplus values held separately from distributable profits by a transfer from the profit and loss account.

Profit & Loss Account

The balance held in profit and loss reserve account is realisable profits, excluding surplus revaluations on investment property.