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REGISTERED NUMBER: 06211245 (England and Wales)


















Capital & Provincial Developments
Limited

Unaudited Financial Statements for the Year Ended 31st May 2024






Capital & Provincial Developments
Limited (Registered number: 06211245)






Contents of the Financial Statements
for the year ended 31st May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Capital & Provincial Developments
Limited

Company Information
for the year ended 31st May 2024







DIRECTORS: L P Corrigan
P R Corrigan
Miss G V Corrigan





REGISTERED OFFICE: Suite 1
Priory House
Saxon Way
Hessle
East Yorkshire
HU13 9PB





REGISTERED NUMBER: 06211245 (England and Wales)





ACCOUNTANTS: Smailes Goldie
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA

Capital & Provincial Developments
Limited (Registered number: 06211245)

Balance Sheet
31st May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,458,934 3,444,568

CURRENT ASSETS
Debtors 5 18,227 100
Cash at bank 31,026 241,480
49,253 241,580
CREDITORS
Amounts falling due within one year 6 2,582,877 2,564,534
NET CURRENT LIABILITIES (2,533,624 ) (2,322,954 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

925,310

1,121,614

CREDITORS
Amounts falling due after more than one
year

7

1,186,671

1,186,671
NET LIABILITIES (261,361 ) (65,057 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (261,461 ) (65,157 )
SHAREHOLDERS' FUNDS (261,361 ) (65,057 )

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

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

The directors acknowledge their 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.

Capital & Provincial Developments
Limited (Registered number: 06211245)

Balance Sheet - continued
31st May 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 Board of Directors and authorised for issue on 25th February 2025 and were signed on its behalf by:





L P Corrigan - Director


Capital & Provincial Developments
Limited (Registered number: 06211245)

Notes to the Financial Statements
for the year ended 31st May 2024

1. STATUTORY INFORMATION

Capital & Provincial Developments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

The financial statements have been prepared on a going concern basis. The directors have taken note of the guidance issued by the Financial Reporting Council on Going Concern Assessments in determining that this is the appropriate basis of preparation of the financial statements and have considered a number of factors to ensure that the worst case scenario situation does not put the going concern concept at risk.

The significant accounting policies applied in the preparation of these financial statements are set out below.

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life.

Investment property
Completed investment properties are measured at fair value at each reporting date with changes in fair value recognised in statement of comprehensive income. Investment properties are not depreciated.

Incomplete investment property
Incomplete investment properties are valued at cost. The directors are of the opinion that there will be no deficit on revaluation when such properties are completed.

Assets in the course of construction are not depreciated.

Financial instruments
The Company mainly enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade, other accounts receivable and payable and loans.

Debt instruments with no stated interest rate that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Debt instruments such as loans, borrowings and other accounts receivable and payable over more than one year are initially measured at the transaction price including transaction cost. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.


Capital & Provincial Developments
Limited (Registered number: 06211245)

Notes to the Financial Statements - continued
for the year ended 31st May 2024

2. ACCOUNTING POLICIES - continued
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.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1st June 2023 3,444,568
Additions 14,366
At 31st May 2024 3,458,934
NET BOOK VALUE
At 31st May 2024 3,458,934
At 31st May 2023 3,444,568

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 18,227 100

Capital & Provincial Developments
Limited (Registered number: 06211245)

Notes to the Financial Statements - continued
for the year ended 31st May 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 31,684 11,347
Taxation and social security 11,334 9,694
Other creditors 2,539,859 2,543,493
2,582,877 2,564,534

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 1,186,671 1,186,671

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Other loans 1,186,671 1,186,671

Other loans are secured by legal mortgage and fixed charged over the related property owned by the company.