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Company No: 04744568 (England and Wales)

CRANBROOK HOUSE PROPERTIES LIMITED

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

CRANBROOK HOUSE PROPERTIES LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

CRANBROOK HOUSE PROPERTIES LIMITED

COMPANY INFORMATION

For the financial year ended 30 April 2024
CRANBROOK HOUSE PROPERTIES LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 April 2024
DIRECTORS George Somogyi
Thomas David Somogyi
REGISTERED OFFICE 10 Broadfield Way
Buckhurst Hill
IG9 5AG
United Kingdom
COMPANY NUMBER 04744568 (England and Wales)
ACCOUNTANT Gravita Essex Limited
Treviot House
186-192 High Road
Ilford
Essex
IG1 1LR
United Kingdom
CRANBROOK HOUSE PROPERTIES LIMITED

BALANCE SHEET

As at 30 April 2024
CRANBROOK HOUSE PROPERTIES LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Restated - note 2
Fixed assets
Investment property 4 16,940,000 16,940,000
16,940,000 16,940,000
Current assets
Debtors 5 2,683,986 2,940,216
Cash at bank and in hand 74,532 104,744
2,758,518 3,044,960
Creditors: amounts falling due within one year 6 ( 4,010,540) ( 4,678,666)
Net current liabilities (1,252,022) (1,633,706)
Total assets less current liabilities 15,687,978 15,306,294
Provision for liabilities ( 1,912,732) ( 1,912,732)
Net assets 13,775,246 13,393,562
Capital and reserves
Called-up share capital 2 2
Fair value reserve 8,971,810 8,971,810
Profit and loss account 4,803,434 4,421,750
Total shareholders' funds 13,775,246 13,393,562

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:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Cranbrook House Properties Limited (registered number: 04744568) were approved and authorised for issue by the Board of Directors on 22 January 2025. They were signed on its behalf by:

George Somogyi
Director
CRANBROOK HOUSE PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
CRANBROOK HOUSE PROPERTIES 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

Cranbrook House Properties 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 10 Broadfield Way, Buckhurst Hill, IG9 5AG, 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 represents total rental income relating to the year.

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.

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.

2. Prior year adjustment

During the preparation of the financial statement to 30 April 2024, it was noted that share capital was incorrectly stated. A prior year adjustment was therefore considered necessary. This has resulted in Capital and reserves increasing by £1 and Creditors reducing by £1.

3. 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 16,940,000
As at 30 April 2024 16,940,000

Fair value at 30 April 2024 is represented by:
Valuation in 2009 £444,542
Valuation in 2015 £2,500,000
Valuation in 2016 £2,000,000
Valuation in 2017 £1,500,000
Valuation in 2018 £1,500,000
Valuation in 2022 £1,400,000
Valuation in 2023 £1,540,000
Cost £6,055,458

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 6,055,458 6,055,458

The investment properties were valued on a fair value basis on 30th April 2024 by the directors

5. Debtors

2024 2023
£ £
Trade debtors 85,390 110,142
Amounts owed by related parties 2,598,352 2,829,853
Other debtors 244 221
2,683,986 2,940,216

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 3,500 0
Amounts owed to related parties 288,333 219,138
Taxation and social security 187,457 153,116
Other creditors 3,531,250 4,306,412
4,010,540 4,678,666