Company Registration No. 01979402 (England and Wales)
CONCEPT PROPERTIES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
TWP Accounting LLP
Chartered Accountants
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE
CONCEPT PROPERTIES LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
CONCEPT PROPERTIES LTD
Company Registration No. 01979402
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,000,016
2,150,021
Current assets
Debtors
5
525
8,822
Cash at bank and in hand
137,151
142,441
137,676
151,263
Creditors: amounts falling due within one year
6
(21,346)
(35,779)
Net current assets
116,330
115,484
Total assets less current liabilities
2,116,346
2,265,505
Provisions for liabilities
(269,700)
(307,200)
Net assets
1,846,646
1,958,305
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
1,846,546
1,958,205
Total equity
1,846,646
1,958,305

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

CONCEPT PROPERTIES LTD
Company Registration No. 01979402
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 17 April 2025 and are signed on its behalf by:
G Montague
Director
CONCEPT PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Concept Properties Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 49 Winchester Road, Walton on Thames, KT12 2RH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in rental property, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% on reducing balance
1.4
Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

CONCEPT PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2024
2,150,000
47,910
2,197,910
Revaluation
(150,000)
-
0
(150,000)
At 31 December 2024
2,000,000
47,910
2,047,910
Depreciation and impairment
At 1 January 2024
-
0
47,889
47,889
Depreciation charged in the year
-
0
5
5
At 31 December 2024
-
0
47,894
47,894
Carrying amount
At 31 December 2024
2,000,000
16
2,000,016
At 31 December 2023
2,150,000
21
2,150,021
4
Investment property

The fair value of the investment properties have been arrived at on the basis of a valuation carried out by G Montague, a director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

CONCEPT PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
275
700
Other debtors
250
8,122
525
8,822
6
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
14,991
13,965
Other creditors
6,355
21,814
21,346
35,779
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
8
Related party transactions

At the balance sheet date, £2,662 (2023: £1,738) was owed to the director, G Montague by the company. This amount is interest free and repayable on demand.

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