2023-06-012024-05-312024-05-31false12008637CNS PROPERTY 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CNS PROPERTY LTD

Registered Number
12008637
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

CNS PROPERTY LTD
Company Information
for the year from 1 June 2023 to 31 May 2024

Director

HOWELLS, Robert

Registered Address

39 St. Lesmo Road
Stockport
SK3 0TX

Registered Number

12008637 (England and Wales)
CNS PROPERTY LTD
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets4190,126190,168
190,126190,168
Current assets
Debtors135124
Cash at bank and on hand29,56050,302
29,69550,426
Creditors amounts falling due within one year5(7,844)(6,348)
Net current assets (liabilities)21,85144,078
Total assets less current liabilities211,977234,246
Creditors amounts falling due after one year6(162,587)(181,218)
Provisions for liabilities7(12,435)(11,406)
Net assets36,95541,622
Capital and reserves
Called up share capital100100
Profit and loss account36,85541,522
Shareholders' funds36,95541,622
The financial statements were approved and authorised for issue by the Director on 5 February 2025, and are signed on its behalf by:
HOWELLS, Robert
Director
Registered Company No. 12008637
CNS PROPERTY LTD
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
The company is deemed to be a going concern, with the continued support of the director.
Revenue from sale of goods
Turnover from rentals is recognised for the period applicable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. The investment property was revalued in the year to May 2022 by a third party with a fair value of £190,000 from £130,138. The uplift was recognised as a fair value gain to the profit and loss account. The value is deemed to remain fair value by the director.
2.Average number of employees

20242023
Average number of employees during the year00
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Tangible fixed assets

Land & buildings

Plant & machinery

Total

£££
Cost or valuation
At 01 June 23190,000349190,349
At 31 May 24190,000349190,349
Depreciation and impairment
At 01 June 23-181181
Charge for year-4242
At 31 May 24-223223
Net book value
At 31 May 24190,000126190,126
At 31 May 23190,000168190,168
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables117668
Bank borrowings and overdrafts7,0074,960
Accrued liabilities and deferred income720720
Total7,8446,348
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2024

2023

££
Trade creditors / trade payables24,33643,545
Bank borrowings and overdrafts138,251137,673
Total162,587181,218
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)12,43511,406
Total12,43511,406
8.Other commitments
The company has loans repayable for the property which are included within the bank borrowings note.
9.Further information regarding the company's financial position
Charges are registered at companies house with references: Charge code 1200 8637 0002 and Charge code 1200 8637 0001.