Registered number
09572401
Cort Investments Limited
Unaudited Filleted Accounts
31 August 2024
Cort Investments Limited
Registered number: 09572401
Balance Sheet
As at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 - 98
Investments 4 3,151,316 2,906,807
3,151,316 2,906,905
Current assets
Cash at bank and in hand 146,402 193,752
Creditors: amounts falling due within one year 5 (192,079) (138,327)
Net current (liabilities)/assets (45,677) 55,425
Total assets less current liabilities 3,105,639 2,962,330
Creditors: amounts falling due after more than one year 6 (990,051) (995,181)
Net assets 2,115,588 1,967,149
Capital and reserves
Called up share capital 100 100
Profit and loss account 2,115,488 1,967,049
Shareholders' funds 2,115,588 1,967,149
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Philip Cort
Director
Approved by the board on 23 April 2025
Cort Investments Limited
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office equipment over 4 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Office equipment
Cost £
At 1 September 2023 2,226
At 31 August 2024 2,226
Depreciation
At 1 September 2023 2,128
Charge for the year 98
At 31 August 2024 2,226
Net book value
At 31 August 2024 -
At 31 August 2023 98
4 Investments Other
investments
Fair value £
At 1 September 2023 2,906,807
Additions 487,128
Revaluation 44,573
Disposals at cost (287,192)
At 31 August 2024 3,151,316
Historical cost
At 1 September 2023 1,830,908
At 31 August 2024 2,030,844
Other investments include investment property and listed investments. The listed investments are included in these accounts at their market (fair) value on 31st August 2024. The fair value of the investment properties are assessed at the end of every accounting period.
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 46,488 27,034
Other creditors 145,591 111,293
192,079 138,327
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 990,051 995,181
7 Related party transactions
The company owes the following amounts to directors and shareholders at the balance sheet date:
2024 2023
£ £
Directors:
Philip Cort 448,985 451,550
Carolyn Cort 541,066 543,631
Included within creditors falling due after more than one year 990,051 995,181
These loans are now interest-free.
Monty Cort 22,521 17,585
Caspar Cort 27,407 22,470
Jemima Cort 27,407 22,470
Amelia Lee 30,849 25,075
Elouise Lee 23,599 17,825
Included within creditors due within one year 131,783 105,425
8 Controlling party
The company is controlled by Philip and Carolyn Cort, as shareholders and directors.
9 Other information
Cort Investments Limited is a private company limited by shares and incorporated in England. Its registered office is:
Maple House
3 Maple Close
Whalley
Clitheroe
BB7 9AG
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