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
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
Conver Properties Limited
Statement of financial position
as at 31 December 2024
Investment property
4,590,000
4,550,000
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
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
Conver Properties Limited
Notes to the Accounts
for the year ended 31 December 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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 in subsidiaries are included at cost.
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 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
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.
Conver Properties Limited
Notes to the Accounts
for the year ended 31 December 2024
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
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
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).