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REGISTERED NUMBER: 04343894 (England and Wales)






















Canalside Developments (Yorkshire)
Limited

Unaudited Financial Statements for the Year Ended 31 March 2024






Canalside Developments (Yorkshire)
Limited (Registered number: 04343894)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Canalside Developments (Yorkshire)
Limited

Company Information
for the year ended 31 March 2024







DIRECTOR: J R Lupton





SECRETARY: Mrs B J Shepherd





REGISTERED OFFICE: Boroughbridge Road
Ripon
North Yorkshire
HG4 1UE





REGISTERED NUMBER: 04343894 (England and Wales)





ACCOUNTANTS: Smailes Goldie
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire HU2 8BA

Canalside Developments (Yorkshire)
Limited (Registered number: 04343894)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 9,437,598 8,054,846

CURRENT ASSETS
Debtors 5 260,419 97,377
Cash at bank 505,007 1,383,154
765,426 1,480,531
CREDITORS
Amounts falling due within one year 6 352,404 932,130
NET CURRENT ASSETS 413,022 548,401
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,850,620

8,603,247

CREDITORS
Amounts falling due after more than one
year

7

4,603,269

4,541,144
NET ASSETS 5,247,351 4,062,103

CAPITAL AND RESERVES
Called up share capital 8 2 2
Revaluation reserve 9 1,488,220 653,965
Capital redemption reserve 9 1 1
Retained earnings 9 3,759,128 3,408,135
SHAREHOLDERS' FUNDS 5,247,351 4,062,103

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Canalside Developments (Yorkshire)
Limited (Registered number: 04343894)

Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 March 2025 and were signed by:





J R Lupton - Director


Canalside Developments (Yorkshire)
Limited (Registered number: 04343894)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Canalside Developments (Yorkshire) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of VAT. Turnover from rental of premises and related service charges are recognised as they become due.

Investment property
Completed investment properties are valued at open market value. Changes in value are transferred to the revaluation reserve.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Investment land and property under construction
Investment land and property under construction s valued at cost less provision for diminution in value. The directors are of the opinion that there will be no further deficit on revaluation when such properties are completed.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

Canalside Developments (Yorkshire)
Limited (Registered number: 04343894)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 8,054,846
Additions 548,497
Revaluations 834,255
At 31 March 2024 9,437,598
NET BOOK VALUE
At 31 March 2024 9,437,598
At 31 March 2023 8,054,846

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2016 551,502
Valuation in 2017 (228,337 )
Valuation in 2020 (5,800 )
Valuation in 2021 (254,045 )
Valuation in 2022 381,000
Valuation in 2023 209,645
Valuation in 2024 834,256
Cost 7,949,377
9,437,598

Investment property was valued on an open market basis basis on 31 March 2024 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 177,874 86,505
Other debtors 7,717 7,717
Directors' current accounts 2 2
Directors' loan accounts 34,004 -
Prepayments and accrued income 40,822 3,153
260,419 97,377

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 31,639 85,862
Tax 117,932 88,344
VAT 20,768 24,069
Other creditors 6,131 7,126
Directors' loan accounts 1,274 719,915
Accruals and deferred income 165,555 -
Accrued expenses 9,105 6,814
352,404 932,130

Canalside Developments (Yorkshire)
Limited (Registered number: 04343894)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 4,603,269 4,541,144

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

9. RESERVES
Capital
Retained Revaluation redemption
earnings reserve reserve Totals
£    £    £    £   

At 1 April 2023 3,408,135 653,965 1 4,062,101
Profit for the year 1,185,248 1,185,248
Surplus on revaluation (834,255 ) 834,255 - -
At 31 March 2024 3,759,128 1,488,220 1 5,247,349

Where investment properties are measured at fair value a transfer is made to the non- distributable revaluation reserve, instead of a transfer to retained earnings, to assist with the identification of profits available for distribution.

10. CONTINGENT LIABILITIES

At 31st March 2024 there was a contingent liability of £40,000 (2023 £40,000) in respect of a North Yorkshire County Council bond.

11. RELATED PARTY DISCLOSURES

During the year the following transactions took place with other related parties



2024

2023
£ £

Management charges (18,000 ) (18,000 )
Rental income received 80,102 109,294
Expenses recharged (48,958 ) 28,987
Loan write off - -
Interest charged (93,084 ) (89,042 )

At 31st March 2024 the balance owed to Econ Engineering Limited was £4,603,269 (2023 £4,541,144).

12. ULTIMATE CONTROLLING PARTY

The company was controlled throughout the year by Jonathan Richard Lupton and the estate of Andrew William Lupton by virtue of their holding 100% of the company's issued share capital.