REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended |
31 December 2024 |
for |
Circle Lettings Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended |
31 December 2024 |
for |
Circle Lettings Limited |
Circle Lettings Limited (Registered number: 11723681) |
Contents of the Financial Statements |
for the Year Ended 31 December 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Circle Lettings Limited |
Company Information |
for the Year Ended 31 December 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
The Hive |
142 Thornes Lane |
Wakefield |
West Yorkshire |
WF2 7RE |
Circle Lettings Limited (Registered number: 11723681) |
Balance Sheet |
31 December 2024 |
31.12.24 | 31.12.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 9 |
Retained earnings |
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. |
Circle Lettings Limited (Registered number: 11723681) |
Balance Sheet - continued |
31 December 2024 |
The financial statements were approved by the director and authorised for issue on |
Circle Lettings Limited (Registered number: 11723681) |
Notes to the Financial Statements |
for the Year Ended 31 December 2024 |
1. | STATUTORY INFORMATION |
Circle Lettings Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances. |
Investment property |
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the income statement. |
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties. |
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 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
Circle Lettings Limited (Registered number: 11723681) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST OR VALUATION |
Additions |
At 31 December 2024 |
DEPRECIATION |
Charge for year |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
Cost or valuation at 31 December 2024 is represented by: |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
Valuation in 2024 | 2,300 | 3,719 | 6,019 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2024 |
Additions |
Revaluations | 197,474 |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 31 December 2023 |
Fair value at 31 December 2024 is represented by: |
£ |
Valuation in 2020 | 220,000 |
Valuation in 2021 | 30,000 |
Valuation in 2022 | 330,000 |
Valuation in 2023 | 714,999 |
Valuation in 2024 | 780,001 |
2,075,000 |
Circle Lettings Limited (Registered number: 11723681) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.24 | 31.12.23 |
£ | £ |
Other debtors |
Prepayments and accrued income |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.24 | 31.12.23 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Other creditors |
Directors' current accounts | 235,508 | 221,764 |
Accruals and deferred income |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.24 | 31.12.23 |
£ | £ |
Bank loans - 2-5 years |
9. | RESERVES |
Revaluation |
reserve |
£ |
At 1 January 2024 |
and 31 December 2024 |
10. | RELATED PARTY DISCLOSURES |
Included within other creditors is a loan from E&D Properties Limited for £327,000 (2023: £180,000) This loan is non interest bearing and repayable on demand. |