Silverfin false false 30/04/2024 01/05/2023 30/04/2024 C Christodoulou 29/04/2016 29 January 2025 The principal activity of the company during the year was renting its investment properties to tenants. 10155673 2024-04-30 10155673 bus:Director1 2024-04-30 10155673 2023-04-30 10155673 core:CurrentFinancialInstruments 2024-04-30 10155673 core:CurrentFinancialInstruments 2023-04-30 10155673 core:Non-currentFinancialInstruments 2024-04-30 10155673 core:Non-currentFinancialInstruments 2023-04-30 10155673 core:ShareCapital 2024-04-30 10155673 core:ShareCapital 2023-04-30 10155673 core:RetainedEarningsAccumulatedLosses 2024-04-30 10155673 core:RetainedEarningsAccumulatedLosses 2023-04-30 10155673 2023-05-01 2024-04-30 10155673 bus:FilletedAccounts 2023-05-01 2024-04-30 10155673 bus:SmallEntities 2023-05-01 2024-04-30 10155673 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 10155673 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 10155673 bus:Director1 2023-05-01 2024-04-30 10155673 2022-05-01 2023-04-30 10155673 core:Non-currentFinancialInstruments 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Company No: 10155673 (England and Wales)

LONDON CROMWELL ESTATES LIMITED

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

LONDON CROMWELL ESTATES LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

LONDON CROMWELL ESTATES LIMITED

BALANCE SHEET

As at 30 April 2024
LONDON CROMWELL ESTATES LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 8,596,833 0
8,596,833 0
Current assets
Debtors 4 163,061 1
163,061 1
Creditors: amounts falling due within one year 5 ( 3,122,278) 0
Net current (liabilities)/assets (2,959,217) 1
Total assets less current liabilities 5,637,616 1
Creditors: amounts falling due after more than one year 6 ( 5,585,000) 0
Provision for liabilities 7 ( 205,600) 0
Accruals and deferred income ( 1,999) 0
Net (liabilities)/assets ( 154,983) 1
Capital and reserves
Called-up share capital 1 1
Profit and loss account ( 154,984 ) 0
Total shareholder's (deficit)/funds ( 154,983) 1

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.

Director's responsibilities:

The financial statements of London Cromwell Estates Limited (registered number: 10155673) were approved and authorised for issue by the Director on 29 January 2025. They were signed on its behalf by:

C Christodoulou
Director
LONDON CROMWELL ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
LONDON CROMWELL ESTATES 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

London Cromwell Estates 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 Goodwood House, Blackbrook Park Avenue, Taunton, TA1 2PX, 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 recognised at the fair value of rent received or receivable in the normal course of business.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 director, on an open market value for existing use basis.

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.

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. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

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.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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 the director 1 1

3. Investment property

Investment property
£
Valuation
As at 01 May 2023 0
Additions 8,596,833
As at 30 April 2024 8,596,833

Valuation

The value of investment property is derived from observable current market prices for comparable real estate determined by the directors. The assets have a current value of £8,596,833 (2023 - £Nil).

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 8,596,833 0

4. Debtors

2024 2023
£ £
Other debtors 163,061 1

5. Creditors: amounts falling due within one year

2024 2023
£ £
Taxation and social security 16,548 0
Other creditors 3,105,730 0
3,122,278 0

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

2024 2023
£ £
Bank loans (secured) 5,585,000 0

Bank loans are secured by way of fixed charge over the investment properties owned by the company and are repayable in more than 5 years from the year end date.

7. Provision for liabilities

2024 2023
£ £
Deferred tax 205,600 0