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REGISTERED NUMBER: 10664356 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

22 CG LTD

22 CG LTD (REGISTERED NUMBER: 10664356)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


22 CG LTD (REGISTERED NUMBER: 10664356)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 909 213
Investment property 5 957,980 957,980
958,889 958,193

CURRENT ASSETS
Debtors 6 13,482 15,461
Cash at bank and in hand 19,337 8,006
32,819 23,467
CREDITORS
Amounts falling due within one year 7 401,639 396,459
NET CURRENT LIABILITIES (368,820 ) (372,992 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

590,069

585,201

CREDITORS
Amounts falling due after more than one year 8 (591,190 ) (591,959 )

PROVISIONS FOR LIABILITIES 9 (9,686 ) (7,361 )
NET LIABILITIES (10,807 ) (14,119 )

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 10 29,057 31,382
Retained earnings (39,964 ) (45,601 )
(10,807 ) (14,119 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

22 CG LTD (REGISTERED NUMBER: 10664356)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 January 2025 and were signed by:





Mr V Amvrosiou - Director


22 CG LTD (REGISTERED NUMBER: 10664356)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

22 CG Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10664356

Registered office: 238 Old Brompton Road
London
SW5 0DE

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


2. ACCOUNTING POLICIES

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

The financial statements have been prepared on a going concern basis as the director is satisfied that the company will have adequate resources to meet its liabilities to third parties as they fall due.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

Revenue
Revenue represents rental income receivable during the year. Rental income is recognised over the period of the rental agreement.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant and machinery - 25% reducing balance
Furniture and fixtures - 25% reducing balance

The company has adopted the policy of not depreciating the assets in the first year, however full depreciation is provided in the year of disposal.

22 CG LTD (REGISTERED NUMBER: 10664356)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Investment property
Investment property, which is property held to earn rentals, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure.

Subsequently it is measured at fair value at the reporting date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Deferred tax is provided on these gains at the rate expected to apply if the property is sold at the balance sheet date.

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 at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Cash and cash equivalents
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

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

22 CG LTD (REGISTERED NUMBER: 10664356)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
£   
COST
At 1 April 2023 284
Additions 749
At 31 March 2024 1,033
DEPRECIATION
At 1 April 2023 71
Charge for year 53
At 31 March 2024 124
NET BOOK VALUE
At 31 March 2024 909
At 31 March 2023 213

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 957,980
NET BOOK VALUE
At 31 March 2024 957,980
At 31 March 2023 957,980

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2017 38,743
Cost 919,237
957,980

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

2024 2023
£    £   
Cost 919,237 919,237

Investment property was valued on an open market basis on 31 March 2024 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 13,482 15,461

22 CG LTD (REGISTERED NUMBER: 10664356)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 1,388 2,841
Trade creditors 5,046 9,692
Taxation and social security 1,159 -
Other creditors 394,046 383,926
401,639 396,459

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 8,577 8,346
Amounts owed to group undertakings 582,613 583,613
591,190 591,959

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 9,686 7,361

Deferred
tax
£   
Balance at 1 April 2023 7,361
Provided during year 2,325
Balance at 31 March 2024 9,686

10. RESERVES
Revaluation
reserve
£   
At 1 April 2023 31,382
Movement in reserves (2,325 )

At 31 March 2024 29,057

11. OFF-BALANCE SHEET ARRANGEMENTS

The company is mortgagor for a loan drawn against its investment property by a connected company. The loan has been secured by way of a fixed charge and contains a negative pledge.

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Included in other creditors less than one year is an amount of £2,580 (2023: £2,580) due to connected company with common control. Also, included in other creditors less than one year is an amount of £392,726 (2023: £382,726) due to the director of the company.The loans remain interest free and repayable on demand.