REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 24 DECEMBER 2024 |
FOR |
COVENTRY BUSINESS ESTATES LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 24 DECEMBER 2024 |
FOR |
COVENTRY BUSINESS ESTATES LIMITED |
COVENTRY BUSINESS ESTATES LIMITED (REGISTERED NUMBER: 00180925) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 24 DECEMBER 2024 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
COVENTRY BUSINESS ESTATES LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 24 DECEMBER 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Constable Court |
62 Dene Street |
Dorking |
Surrey |
RH4 2DP |
COVENTRY BUSINESS ESTATES LIMITED (REGISTERED NUMBER: 00180925) |
ABRIDGED BALANCE SHEET |
24 DECEMBER 2024 |
24/12/24 | 24/12/23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Fair value reserve | 7 |
Non distributable reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
COVENTRY BUSINESS ESTATES LIMITED (REGISTERED NUMBER: 00180925) |
ABRIDGED BALANCE SHEET - continued |
24 DECEMBER 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
COVENTRY BUSINESS ESTATES LIMITED (REGISTERED NUMBER: 00180925) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 24 DECEMBER 2024 |
1. | STATUTORY INFORMATION |
Coventry Business Estates Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover comprises amounts receivable for rents and services charged to tenants, excluding value added tax. |
Tangible fixed assets including investment properties |
Fixtures and fittings | - |
In accordance with Financial Reporting Standard 102 investment properties are revalued annually and the aggregate surplus or deficit is dealt with through the profit and loss account. The gain/loss is transferred to a fair value reserve after adjusting for deferred tax. No depreciation is provided in respect of investment properties. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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. |
Rent deposits |
Where rent deposits are held in separately designated bank accounts, the money held is not treated as an asset of the company and consequently neither is the matching liability recognised. |
Service charge reserves and sinking funds |
Where service charge reserves or sinking funds are maintained for particular properties, these are treated as if they are held on trust for the tenants in separately designated bank accounts. The money held is not treated as an asset of the company and consequently neither is the matching reserve recognised as a liability. |
COVENTRY BUSINESS ESTATES LIMITED (REGISTERED NUMBER: 00180925) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 24 DECEMBER 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 25 December 2023 |
and 24 December 2024 |
DEPRECIATION |
At 25 December 2023 |
Charge for year |
At 24 December 2024 |
NET BOOK VALUE |
At 24 December 2024 |
At 24 December 2023 |
5. | FIXED ASSET INVESTMENTS |
Fixed asset investments relates to investments in group companies. |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 25 December 2023 |
Revaluations | 10,000 |
At 24 December 2024 |
NET BOOK VALUE |
At 24 December 2024 |
At 24 December 2023 |
Fair value at 24 December 2024 is represented by: |
£ |
Valuation in 2023 | 54,000 |
Valuation in 2024 | 10,000 |
Cost | 6,000 |
70,000 |
COVENTRY BUSINESS ESTATES LIMITED (REGISTERED NUMBER: 00180925) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 24 DECEMBER 2024 |
6. | INVESTMENT PROPERTY - continued |
If investment property had not been revalued it would have been included at the following historical cost: |
24/12/24 | 24/12/23 |
£ | £ |
Cost | 6,000 | 6,000 |
Investment property was valued on an open market basis on 24 December 2024 by Godfrey-Payton Chartered Surveyors . |
7. | RESERVES |
Fair |
value |
reserve |
£ |
At 25 December 2023 |
Transfer between reserves | 7,500 |
At 24 December 2024 |
The movement between retained earnings and the fair value reserve represents the unrealised gain/loss on revaluation after adjusting for deferred tax. The fair value reserve is not distributable. |
The non distributable reserve represents the gain/loss on the sale of investment property to a subsidiary company in exchange for share capital. The reserve is not distributable profit. |
8. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
9. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |