IRIS Accounts Production v24.3.2.46 10704585 Board of Directors Board of Directors 1.5.23 30.4.24 30.4.24 0 0 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh107045852023-04-30107045852024-04-30107045852023-05-012024-04-30107045852022-04-30107045852022-05-012023-04-30107045852023-04-3010704585ns15:EnglandWales2023-05-012024-04-3010704585ns14:PoundSterling2023-05-012024-04-3010704585ns10:Director12023-05-012024-04-3010704585ns10:Director22023-05-012024-04-3010704585ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3010704585ns10:SmallEntities2023-05-012024-04-3010704585ns10:AuditExempt-NoAccountantsReport2023-05-012024-04-3010704585ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-3010704585ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-3010704585ns10:FullAccounts2023-05-012024-04-3010704585ns10:OrdinaryShareClass12023-05-012024-04-3010704585ns10:RegisteredOffice2023-05-012024-04-3010704585ns5:CurrentFinancialInstruments2024-04-3010704585ns5:CurrentFinancialInstruments2023-04-3010704585ns5:ShareCapital2024-04-3010704585ns5:ShareCapital2023-04-3010704585ns5:FurtherSpecificReserve3ComponentTotalEquity2024-04-3010704585ns5:FurtherSpecificReserve3ComponentTotalEquity2023-04-3010704585ns5:RetainedEarningsAccumulatedLosses2024-04-3010704585ns5:RetainedEarningsAccumulatedLosses2023-04-3010704585ns5:PlantMachinery2023-05-012024-04-3010704585ns5:PlantMachinery2023-04-3010704585ns5:PlantMachinery2024-04-3010704585ns5:PlantMachinery2023-04-3010704585ns5:WithinOneYearns5:CurrentFinancialInstruments2024-04-3010704585ns5:WithinOneYearns5:CurrentFinancialInstruments2023-04-3010704585ns5:DeferredTaxation2023-04-3010704585ns5:DeferredTaxation2023-05-012024-04-3010704585ns5:DeferredTaxation2024-04-3010704585ns10:OrdinaryShareClass12024-04-3010704585ns5:FurtherSpecificReserve3ComponentTotalEquity2023-04-3010704585ns10:Director222023-04-3010704585ns10:Director222022-04-3010704585ns10:Director222023-05-012024-04-3010704585ns10:Director222022-05-012023-04-3010704585ns10:Director222024-04-3010704585ns10:Director222023-04-30107045851ns10:Director12023-04-30107045851ns10:Director12022-04-30107045851ns10:Director12023-05-012024-04-30107045851ns10:Director12022-05-012023-04-30107045851ns10:Director12024-04-30107045851ns10:Director12023-04-30
REGISTERED NUMBER: 10704585 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

CEIBA PROPERTY LTD

CEIBA PROPERTY LTD (REGISTERED NUMBER: 10704585)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CEIBA PROPERTY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: G M Mullane
M A Sumner





REGISTERED OFFICE: 10 Jesus Lane
Cambridge
Cambridgeshire
CB5 8BA





BUSINESS ADDRESS: Suite F8 Stirling House
Cambridge Innovation Park
Waterbeach
Cambridgeshire
CB25 9GL





REGISTERED NUMBER: 10704585 (England and Wales)





ACCOUNTANTS: Thompson Taraz Rand Ltd
Chartered Accountants
10 Jesus Lane
Cambridge
Cambridgeshire
CB5 8BA

CEIBA PROPERTY LTD (REGISTERED NUMBER: 10704585)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 7,493 9,990
Investment property 6 959,415 959,415
966,908 969,405

CURRENT ASSETS
Debtors 7 119,959 78,101
Cash at bank 50,705 26,925
170,664 105,026
CREDITORS
Amounts falling due within one year 8 (927,878 ) (861,040 )
NET CURRENT LIABILITIES (757,214 ) (756,014 )
TOTAL ASSETS LESS CURRENT LIABILITIES 209,694 213,391

PROVISIONS FOR LIABILITIES 9 (18,709 ) (23,071 )
NET ASSETS 190,985 190,320

CAPITAL AND RESERVES
Called up share capital 10 2 2
Fair value reserve 11 265,575 265,575
Retained earnings (74,592 ) (75,257 )
SHAREHOLDERS' FUNDS 190,985 190,320

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

CEIBA PROPERTY LTD (REGISTERED NUMBER: 10704585)

BALANCE SHEET - continued
30 APRIL 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 December 2024 and were signed on its behalf by:




M A Sumner - Director



G M Mullane - Director


CEIBA PROPERTY LTD (REGISTERED NUMBER: 10704585)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Ceiba Property Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents receivable property rental income.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 20% on cost

Investment property
In accordance with the Financial Reporting Standard 102, no depreciation is provided in respect of freehold properties held as investments. This is a departure from the requirements of the Companies Act 2006 which requires all properties to be depreciated. Such properties are held for investment and not for consumption and the directors consider that to depreciate them would not give a true and fair view. The directors consider that this policy results in the accounts giving a true and fair view. The director(s) have considered the fair value of the properties at the balance sheet date and believe there to have been no material change to the fair value against that shown in the balance sheet.

FRS 102 also requires that deferred tax be recognised on fair value gains. Previously under UK GAAP deferred tax was only recognised when a binding commitment to sell assets held under the revaluation model existed at the balance sheet date. However no deferred tax liability has been recognised on transition due an overall capital loss being crystallised should the properties be sold for the disclosed valuation.

Financial instruments
Basic financial assets and basic financial liabilities as defined under section 11 of FRS 102, including trade and other debtors, trade and other creditors, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

CEIBA PROPERTY LTD (REGISTERED NUMBER: 10704585)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 89,256
Disposals (25,372 )
At 30 April 2024 63,884
DEPRECIATION
At 1 May 2023 79,266
Charge for year 2,497
Eliminated on disposal (25,372 )
At 30 April 2024 56,391
NET BOOK VALUE
At 30 April 2024 7,493
At 30 April 2023 9,990

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 959,415
NET BOOK VALUE
At 30 April 2024 959,415
At 30 April 2023 959,415

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2019 25,335
Valuation in 2020 21,624
Valuation in 2021 (16,804 )
Valuation in 2022 172,587
Valuation in 2023 (110,983 )
Cost 867,656
959,415

CEIBA PROPERTY LTD (REGISTERED NUMBER: 10704585)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

6. INVESTMENT PROPERTY - continued

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 867,656 867,656

Investment property was valued on an open market basis on 30 April 2023 by directors .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 1,254 1,254
Other debtors 118,705 76,847
119,959 78,101

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 30,764 3,950
Amounts owed to group undertakings 866,844 826,591
Taxation and social security 27,870 28,099
Other creditors 2,400 2,400
927,878 861,040

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 18,709 23,071

Deferred
tax
£   
Balance at 1 May 2023 23,071
Provided during year (4,362 )
Balance at 30 April 2024 18,709

CEIBA PROPERTY LTD (REGISTERED NUMBER: 10704585)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

11. RESERVES
Fair
value
reserve
£   
At 1 May 2023
and 30 April 2024 265,575

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
G M Mullane
Balance outstanding at start of year - -
Amounts advanced 8,429 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 8,429 -

M A Sumner
Balance outstanding at start of year - -
Amounts advanced 8,429 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 8,429 -