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Registered number: 00672022









CENTRAL LONDON RESIDENTIAL PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 25 MARCH 2024

 
CENTRAL LONDON RESIDENTIAL PROPERTIES LIMITED
REGISTERED NUMBER: 00672022

STATEMENT OF FINANCIAL POSITION
AS AT 25 MARCH 2024

As restated
As restated
2024
2024
2023
2023
Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
3,260
3,310

Investments
 5 
5,750
5,750

  
9,010
9,060

Current assets
  

Stocks
  
177,442
177,442

Debtors: amounts falling due within one year
 6 
66,739
54,704

Current asset investments
 7 
48,711
234,662

Cash at bank and in hand
  
140,032
172,612

  
432,924
639,420

Creditors: amounts falling due within one year
 8 
(249,802)
(348,808)

Net current assets
  
 
 
183,122
 
 
290,612

Total assets less current liabilities
  
192,132
299,672

Provisions for liabilities
  

Deferred tax
 9 
(838)
(838)

  
 
 
(838)
 
 
(838)

Net assets
  
191,294
298,834


Capital and reserves
  

Called up share capital 
  
160,000
160,000

Profit and loss account
  
31,294
138,834

  
191,294
298,834


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Page 1

 
CENTRAL LONDON RESIDENTIAL PROPERTIES LIMITED
REGISTERED NUMBER: 00672022
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 25 MARCH 2024


The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 18 February 2025.




M S P Garvin
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
CENTRAL LONDON RESIDENTIAL PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 25 MARCH 2024

1.


General information

Central London Residential Properties Limited is a private company limited by shares and registered in England and Wales. The address of its registered office and principal place of business is First Floor, 47 Dorset Street, London, W1U 7ND.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is measured as the fair value of the consideration received or receivable from sales of properties and commission receivable.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
CENTRAL LONDON RESIDENTIAL PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 25 MARCH 2024

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
per annum on the reducing balance
Computer equipment
-
25%
per annum on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.
Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.7

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. 

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. 

Page 4

 
CENTRAL LONDON RESIDENTIAL PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 25 MARCH 2024

2.Accounting policies (continued)

  
2.12

Prior year adjustment

The prior year adjustment relates to dividends declared of £200,000 which were omitted in the 2023 accounts.

 
2.13

Provisions for liabilities

Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the statement of financial position.

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.
 
2.14

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

2024
2023
£
£

Wages and salaries
199,280
139,280

Social security costs
25,660
13,842

224,940
153,122


The average monthly number of employees, including directors, during the year was 5 (2023 - 5).

Page 5

 
CENTRAL LONDON RESIDENTIAL PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 25 MARCH 2024

4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 26 March 2023
17,854
5,955
23,809


Additions
-
479
479



At 25 March 2024

17,854
6,434
24,288



Depreciation


At 26 March 2023
15,836
4,663
20,499


Charge for the year on owned assets
404
125
529



At 25 March 2024

16,240
4,788
21,028



Net book value



At 25 March 2024
1,614
1,646
3,260



At 25 March 2023
2,018
1,292
3,310


5.


Fixed asset investments





Investments in associates

£



Cost or valuation


At 26 March 2023
5,750



At 25 March 2024
5,750





6.


Debtors

2024
2023
£
£


Other debtors
59,148
46,551

Prepayments and accrued income
7,591
8,153
Page 6

 
CENTRAL LONDON RESIDENTIAL PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 25 MARCH 2024

6.Debtors (continued)


66,739
54,704



7.


Current asset investments

2024
2023
£
£

Listed investments
48,711
234,662

48,711
234,662



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Payments received on account
-
373

Trade creditors
-
1,795

Other taxation and social security
23,679
63,189

Other creditors
206,490
269,614

Accruals and deferred income
19,633
13,837

249,802
348,808



9.


Deferred taxation




2024


£






At beginning of year
(838)



At end of year
(838)

Page 7

 
CENTRAL LONDON RESIDENTIAL PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 25 MARCH 2024
 
9.Deferred taxation (continued)

2024
2023
£
£


Other
(838)
(838)

(838)
(838)

 
Page 8