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Registration number: 12314037

Cleator Mills Business Park Ltd

Unaudited Financial Statements

30 June 2024

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Cleator Mills Business Park Ltd

Contents

Accountants' Report

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Cleator Mills Business Park Ltd
for the Year Ended 30 June 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Cleator Mills Business Park Ltd for the year ended 30 June 2024 as set out on pages 2 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Cleator Mills Business Park Ltd, as a body, in accordance with the terms of our engagement letter dated 17 February 2021. Our work has been undertaken solely to prepare for your approval the accounts of Cleator Mills Business Park Ltd and state those matters that we have agreed to state to the Board of Directors of Cleator Mills Business Park Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cleator Mills Business Park Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Cleator Mills Business Park Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Cleator Mills Business Park Ltd. You consider that Cleator Mills Business Park Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Cleator Mills Business Park Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



Dodd & Co Limited
Chartered Accountants
FIFTEEN Rosehill
Montgomery Way
Rosehill Estate
CARLISLE
CA1 2RW

26 February 2025

 

Cleator Mills Business Park Ltd

(Registration number: 12314037)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

1,176,154

629,822

Current assets

 

Debtors

5

344,923

209,106

Cash at bank and in hand

 

21,758

36,887

 

366,681

245,993

Creditors: Amounts falling due within one year

6

(1,305,127)

(551,814)

Net current liabilities

 

(938,446)

(305,821)

Net assets

 

237,708

324,001

Capital and reserves

 

Allotted, called up and fully paid share capital

100

100

Profit and loss account

237,608

323,901

Total equity

 

237,708

324,001

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 February 2025
 

.........................................

M Walker

Director

 

Cleator Mills Business Park Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Glenavon
The Gill
Dalston
CARLISLE
CA5 7JP

The principal place of business is:
Cleator Mills Business Park
CLEATOR
CA23 3DU

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company has net current liabilities at 30 June 2024 and meets its day to day working capital requirements through loan finance from a commercial lender and from loans provided by the director. On the basis of this support, the director considers it appropriate to prepare the financial statements on the going concern basis.

However, should the company not have the support of its director, and therefore be unable to continue trading, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for any further liabilities which might arise, and to reclassify fixed assets and long term liabilities as current assets and current liabilities.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

 

Cleator Mills Business Park Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income 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 taxable income.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director, who is suitably qualified. The director uses observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for the sale of goods or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method where due after more than one year.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Cleator Mills Business Park Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Investment properties

£

At 1 July 2023

629,822

Additions

546,332

At 30 June 2024

1,176,154

There has been no valuation of investment property by an independent valuer. The director is of the opinion that cost is still a reasonable estimate of the fair value of the properties.

5

Debtors

2024
£

2023
£

Trade debtors

3,000

-

Amounts owed by group undertakings and undertakings in which the company has a participating interest

196,137

195,356

Other debtors

145,786

13,750

344,923

209,106

 

Cleator Mills Business Park Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

1,101,300

452,185

Trade creditors

 

176,971

69,366

Other creditors

 

26,856

30,263

 

1,305,127

551,814

7

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Other borrowings

1,101,300

452,185

Current loans and borrowings includes the following liabilities, on which security has been given by the company:

2024
£

2023
£

Other borrowings

770,616

69,875

Other borrowings are secured by legal mortgages and fixed and floating charges over the company's assets.

8

Parent and ultimate parent undertaking

The company's immediate parent is GenR8ed Limited, incorporated in England and Wales.

 The ultimate parent is DIMA Holdings Limited, incorporated in England and Wales.