Company Registration No. 06635081 (England and Wales)
Ciney Investments Limited
Unaudited accounts
for the year ended 30 June 2024
Ciney Investments Limited
Unaudited accounts
Contents
Ciney Investments Limited
Company Information
for the year ended 30 June 2024
Company Number
06635081 (England and Wales)
Registered Office
UNIT 1 RONNIES WHARF
6 LYONS CRESCENT
TONBRIDGE
KENT
TN9 1EX
ENGLAND
Accountants
Rustrick Accountants Limited
380A New Hythe lane
Larkfield
Maidstone
Kent
ME20 6RZ
Ciney Investments Limited
Statement of financial position
as at 30 June 2024
Tangible assets
808,939
719,091
Investment property
3,195,000
3,735,000
Cash at bank and in hand
2,272
13,020
Creditors: amounts falling due within one year
(564,099)
(894,783)
Net current liabilities
(531,005)
(873,064)
Total assets less current liabilities
3,472,934
3,581,027
Creditors: amounts falling due after more than one year
(1,180,322)
(1,327,992)
Provisions for liabilities
Deferred tax
(255,746)
(384,249)
Net assets
2,036,866
1,868,786
Called up share capital
1,000
1,000
Revaluation reserve
163,349
163,349
Profit and loss account
1,872,517
1,704,437
Shareholders' funds
2,036,866
1,868,786
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 and authorised for issue on 20 March 2025 and were signed on its behalf by
Mr M Miles
Director
Company Registration No. 06635081
Ciney Investments Limited
Notes to the Accounts
for the year ended 30 June 2024
Ciney Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 06635081. The registered office is UNIT 1 RONNIES WHARF, 6 LYONS CRESCENT, TONBRIDGE, KENT, TN9 1EX, ENGLAND.
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:
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
25% reducing balance
Other tangible fixed assets
10% reducing balance
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.
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.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Ciney Investments Limited
Notes to the Accounts
for the year ended 30 June 2024
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Land & buildings
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 July 2023
700,000
-
30,834
3,880
734,714
Additions
-
125,128
1,258
574
126,960
Disposals
-
-
(2,825)
-
(2,825)
At 30 June 2024
700,000
125,128
29,267
4,454
858,849
At 1 July 2023
-
-
14,109
1,514
15,623
Charge for the year
-
31,282
3,803
627
35,712
On disposals
-
-
(1,425)
-
(1,425)
At 30 June 2024
-
31,282
16,487
2,141
49,910
At 30 June 2024
700,000
93,846
12,780
2,313
808,939
At 30 June 2023
700,000
-
16,725
2,366
719,091
The fair value of the land and buildings has been arrived at on the basis of valuations carried out by the director.
The valuations were made on an open market value basis by reference to the market evidence of transaction prices for similar properties.
On a historical cost basis these would have been included at the original cost of £457,005.
Fair value at 1 July 2023
3,735,000
Net loss from fair value adjustments
(200,000)
The fair value of the investment properties has been arrived at on the basis carried out by the director. The valuations were made on an open market value basis by reference to market evidence of transaction prices for similar properties.
On a historical cost basis these would have been included at the original cost of £2,067,858 (2023 £2,352,631).
Ciney Investments Limited
Notes to the Accounts
for the year ended 30 June 2024
Amounts falling due within one year
Accrued income and prepayments
5,599
5,751
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Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
46,033
77,992
Obligations under finance leases and hire purchase contracts
65,835
-
Trade creditors
10,747
18,628
Taxes and social security
57,554
62,684
Other creditors
361,532
360,609
Loans from directors
9,651
333,855
Deferred income
6,900
7,209
Bank Loans and overdrafts are secured.
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
1,130,817
1,327,992
Obligations under finance leases and hire purchase contracts
49,505
-
9
Transactions with related parties
During the year the company charged Lili Waste Services Limited, a related party, management fee of £284,000 (2023 £218,000)
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).