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Cuffley Properties Ltd

Registered Number
10902631
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

Cuffley Properties Ltd
Company Information
for the year from 1 September 2023 to 31 August 2024

Directors

Mandeep Singh Binning
Antonis Demetri
Antonis Theori
Nicholas Theori

Registered Address

10-12 2nd Floor
Bourlet Close
London
W1W 7BR

Place of Business

Olive Tree Centre

472A Larkshall Road

Higham's Park

London

E4 9HH


Registered Number

10902631 (England and Wales)
Cuffley Properties Ltd
Balance Sheet as at
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets38,610,2698,621,973
8,610,2698,621,973
Current assets
Debtors4354,562130,429
Cash at bank and on hand139,960125,766
494,522256,195
Creditors amounts falling due within one year5(1,198,598)(989,067)
Net current assets (liabilities)(704,076)(732,872)
Total assets less current liabilities7,906,1937,889,101
Creditors amounts falling due after one year6(4,850,000)(4,754,700)
Provisions for liabilities7(834,684)(834,684)
Net assets2,221,5092,299,717
Capital and reserves
Called up share capital100100
Profit and loss account2,221,4092,299,617
Shareholders' funds2,221,5092,299,717
The financial statements were approved and authorised for issue by the Board of Directors on 6 February 2025, and are signed on its behalf by:
Mandeep Singh Binning
Director
Registered Company No. 10902631
Cuffley Properties Ltd
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.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover represents the net value of the rent received as per rental agreements.
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows Depreciation rate @ straight line is 25%

Straight line (years)
Office Equipment4
Investment property
Investment Properties are stated at fair market valuations. Surplus or deficit arising on the revaluation are transferred on the profit and loss account.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Land & buildings

Office Equipment

Total

£££
Cost or valuation
At 01 September 238,600,00046,8158,646,815
At 31 August 248,600,00046,8158,646,815
Depreciation and impairment
At 01 September 23-24,84224,842
Charge for year-11,70411,704
At 31 August 24-36,54636,546
Net book value
At 31 August 248,600,00010,2698,610,269
At 31 August 238,600,00021,9738,621,973
The valuation of the properties have been carried out by the directors of the company.
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables56,15870,795
Other debtors168,112553
Prepayments and accrued income130,29259,081
Total354,562130,429
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables115,63457,315
Taxation and social security44,42822,095
Other creditors975,726862,350
Accrued liabilities and deferred income62,81047,307
Total1,198,598989,067
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts4,850,0004,754,700
Total4,850,0004,754,700
The bank loans are secured against the property and personal guaranties are given by the directors.
7.Provisions for liabilities
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

2024

2023

££
Net deferred tax liability (asset)834,684834,684
Total834,684834,684