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Company Registration No. 01072612 (England and Wales)
Conver Properties Limited Unaudited accounts for the year ended 31 December 2024
Conver Properties Limited Unaudited accounts Contents
Page
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Conver Properties Limited Company Information for the year ended 31 December 2024
Directors
D W Trimble R Trimble T Trimble E M Trimble
Company Number
01072612 (England and Wales)
Registered Office
40 KERSTEMAN ROAD REDLAND BRISTOL BS6 7BX
Accountants
Vertical Consulting Ltd 18 Wellington Park Clifton Bristol Bristol BS8 2UT
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Conver Properties Limited Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investment property
4,590,000 
4,550,000 
Investments
2 
2 
4,590,002 
4,550,002 
Current assets
Cash at bank and in hand
39,576 
10,114 
Creditors: amounts falling due within one year
(550,822)
(450,224)
Net current liabilities
(511,246)
(440,110)
Total assets less current liabilities
4,078,756 
4,109,892 
Provisions for liabilities
Deferred tax
(807,957)
(797,957)
Net assets
3,270,799 
3,311,935 
Capital and reserves
Called up share capital
2,000 
2,000 
Fair value reserve
2,777,501 
2,747,501 
Profit and loss account
491,298 
562,434 
Shareholders' funds
3,270,799 
3,311,935 
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2025 and were signed on its behalf by
D W Trimble Director Company Registration No. 01072612
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Conver Properties Limited Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
Conver Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 01072612. The registered office is 40 KERSTEMAN ROAD, REDLAND, BRISTOL, BS6 7BX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
15% on a reducing balance basis
Computer equipment
15% on a reducing balance basis
Investments
Investments in subsidiaries are included at cost.
Consolidation
In the opinion of the directors, the company and its subsidiary undertaking comprise a small group. The company has therefore taken advantage of the exemption provided by Section 398 of the Companies act 2006 not to prepare group accounts.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Conver Properties Limited Notes to the Accounts for the year ended 31 December 2024
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 January 2024
1,530 
At 31 December 2024
1,530 
Depreciation
At 1 January 2024
1,530 
At 31 December 2024
1,530 
Net book value
At 31 December 2024
- 
5
Investment property
2024 
£ 
Fair value at 1 January 2024
4,550,000 
Net gain from fair value adjustments
40,000 
At 31 December 2024
4,590,000 
6
Investments
Subsidiary undertakings 
£ 
Valuation at 1 January 2024
2 
Valuation at 31 December 2024
2 
All Investments are represented by Shares in Group Undertakings which are included at cost. The company holds an interest in its sole subsidiary as follows :- Bristol and Avon Contractors Ltd - 999 ordinary shares of £1 each ( Cost £2 ) Bristol and Avon Contractors Ltd is registered in England and Wales
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
350,000 
270,000 
Amounts owed to group undertakings and other participating interests
148,493 
139,504 
Taxes and social security
5,791 
10,102 
Other creditors
22,090 
16,668 
Loans from directors
19,568 
9,070 
Accruals
4,880 
4,880 
550,822 
450,224 
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Conver Properties Limited Notes to the Accounts for the year ended 31 December 2024
8
Transactions with related parties
Included in other creditors - amounts owed to group undertakings is an amount of £148,493 ( 2023 - £139,504 ) owed by the company to Bristol and Avon Contractors Ltd. The loan has no specific terms for repayment and accordingly is regarded as due for repayment within one year. No interest is charged on the loan. During the year Bristol and Avon Contractors Ltd lent the company an additional sum of £8989 Bristol and Avon Contractors Ltd is registered in England and Wales.
9
Average number of employees
During the year the average number of employees was 4 (2023: 4).
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