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CRONUS PROPERTY LIMITED

Registered Number
09549035
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

CRONUS PROPERTY LIMITED
Company Information
for the year from 1 September 2023 to 31 August 2024

Directors

I R ANDERSON
Mrs S E ANDERSON

Registered Address

Church Farm House
Wormleighton
Southam
CV47 2XW

Registered Number

09549035 (England and Wales)
CRONUS PROPERTY LIMITED
Balance Sheet as at
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Investments390,000100,000
90,000100,000
Current assets
Cash at bank and on hand1821,453
1821,453
Creditors amounts falling due within one year(38,137)(31,492)
Net current assets (liabilities)(37,955)(30,039)
Total assets less current liabilities52,04569,961
Creditors amounts falling due after one year(77,548)(77,520)
Net assets(25,503)(7,559)
Capital and reserves
Called up share capital100100
Profit and loss account(25,603)(7,659)
Shareholders' funds(25,503)(7,559)
The financial statements were approved and authorised for issue by the Board of Directors on 24 January 2025, and are signed on its behalf by:
I R ANDERSON
Director
Registered Company No. 09549035
CRONUS PROPERTY LIMITED
Notes to the Financial Statements
for the year ended 31 August 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.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is recognised at the fair value of the consideration received or receivable for rent provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value consideration takes into account trade discounts, settlement discounts and volume rebates.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
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.
Investments
Investment property, which is property held to earn rentals and/or for capital appreciation, 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. The surplus or deficit on revaluation is recognised in the profit and loss account. Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.
2.Average number of employees

20242023
Average number of employees during the year22
3.Fixed asset investments

Total

£
Cost or valuation
At 01 September 23100,000
Revaluations(10,000)
At 31 August 2490,000
Net book value
At 31 August 2490,000
At 31 August 23100,000
4.Revaluation of fixed asset investments
The directors consider the valuation in 2024 (£90,000) to be less than 2023 (£100,000). If the investment property had not been revalued it would have been included at the following historical cost:

2024

2023

££
Investments77,49177,491