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COMPANY REGISTRATION NUMBER: 12685096
CDSM PROPERTIES LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 June 2024
CDSM PROPERTIES LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2024
CONTENTS
PAGE
Statement of financial position
1
Notes to the financial statements
3
CDSM PROPERTIES LIMITED
STATEMENT OF FINANCIAL POSITION
30 June 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Investments
5
400,000
260,000
CURRENT ASSETS
Stocks
74,527
Debtors
6
117
399
Cash at bank and in hand
595
7,616
-----
---------
712
82,542
CREDITORS: amounts falling due within one year
7
148,049
132,870
-----------
-----------
NET CURRENT LIABILITIES
147,337
50,328
-----------
-----------
TOTAL ASSETS LESS CURRENT LIABILITIES
252,663
209,672
CREDITORS: amounts falling due after more than one year
8
158,251
158,251
-----------
-----------
NET ASSETS
94,412
51,421
-----------
-----------
CDSM PROPERTIES LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 June 2024
2024
2023
Note
£
£
£
£
CAPITAL AND RESERVES
Called up share capital
200
200
Revaluation reserve
101,931
62,374
Profit and loss account
( 7,719)
( 11,153)
-----------
---------
SHAREHOLDERS FUNDS
94,412
51,421
-----------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the 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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 17 March 2025 , and are signed on behalf of the board by:
Mr S Mardani
Director
Company registration number: 12685096
CDSM PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Equitable House, 55 Pellon Lane, Halifax, West Yorkshire, HX1 5SP.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are not considered to be any judgements or accounting estimates or assumptions that have a significant impact on the financial statements.
Investments
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Work in progress
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate.
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 2 (2023: 3 ).
5. INVESTMENTS
Investment properties
£
Cost
At 1 July 2023
260,000
Additions
100,444
Revaluations
39,556
-----------
At 30 June 2024
400,000
-----------
Impairment
At 1 July 2023 and 30 June 2024
-----------
Carrying amount
At 30 June 2024
400,000
-----------
At 30 June 2023
260,000
-----------
The investment properties were valued by the directors at £400,000 (2023:£260,000) on 30 June 2024.
6. DEBTORS
2024
2023
£
£
Prepayments and accrued income
117
399
-----
-----
7. CREDITORS: amounts falling due within one year
2024
2023
£
£
Accruals and deferred income
410
985
Social security and other taxes
481
482
Director loan accounts
144,333
130,703
Other creditors
2,825
700
-----------
-----------
148,049
132,870
-----------
-----------
8. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
158,251
158,251
-----------
-----------
The following liabilities disclosed under creditors falling due after more than one year are secured by the company:
2024
2023
£
£
Bank loan
158,251
158,251
-----------
-----------
9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
The directors loan account was in credit throughout the year. The loan is repayable on demand and no interest is charged.