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Company Registration No. 01441326 (England and Wales)







CORCORAN CONSTRUCTION LIMITED

UNAUDITED
FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 AUGUST 2024




































Riordan O'Sullivan & Co
Chartered Certified Accountants
40 Chamberlayne Road
London
NW10 3JE

 
CORCORAN CONSTRUCTION LIMITED
REGISTERED NUMBER:01441326

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
4,330,000
4,330,000

  
4,330,000
4,330,000

Current assets
  

Debtors
 5 
1,325,916
1,320,765

Cash at bank and in hand
  
195,841
130,638

  
1,521,757
1,451,403

Creditors: amounts falling due within one year
 6 
(246,072)
(205,634)

Net current assets
  
 
 
1,275,685
 
 
1,245,769

Total assets less current liabilities
  
5,605,685
5,575,769

Creditors: amounts falling due after more than one year
 7 
(784,760)
(788,966)

Provisions for liabilities
  

Deferred tax
  
(798,013)
(798,013)

  
 
 
(798,013)
 
 
(798,013)

Net assets
  
4,022,912
3,988,790


Capital and reserves
  

Called up share capital 
 8 
2
2

Revaluation reserve
  
2,394,040
2,394,040

Profit and loss account
  
1,628,870
1,594,748

  
4,022,912
3,988,790


Page 1

 
CORCORAN CONSTRUCTION LIMITED
REGISTERED NUMBER:01441326
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 May 2025.



___________________________
Sean Corcoran
Director

Page 2

 
CORCORAN CONSTRUCTION LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

Corcoran Construction Limited is a private company limited by shares incorporated in England and Wales. The registered office is 40 Chamberlayne Road, London, NW10 3JE.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and investment properties and certain financial instruments at fair value, unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover represents rent receivable excluding value added tax.

 
2.3

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

 
2.4

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 deductable in other years and it further excludes items that are never taxable or deductable. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
CORCORAN CONSTRUCTION LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2023 - 5).


4.


Investment property


Freehold investment property

£



Valuation


At 1 September 2023
4,330,000



At 31 August 2024
4,330,000

The directors consider that the carrying amounts of the investment properties approximate to their fair value at the year end.






5.


Debtors

2024
2023
£
£


Amounts owed by related undertakings
1,324,910
1,318,872

Prepayments
1,006
1,893

1,325,916
1,320,765


The amounts owed by related undertakings are interest free, unsecured and repayable on demand.

Page 4

 
CORCORAN CONSTRUCTION LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loan (secured)
6,387
6,071

Trade creditors
1,022
112

Amounts owed to related undertakings
209,395
177,330

Corporation tax
11,024
12,990

Other creditors
16,744
5,531

Accruals
1,500
3,600

246,072
205,634


The amounts owed to related undertakings are interest free, unsecured and repayable on demand.


7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loan (secured)
784,760
788,966


The bank loan is repayable on a monthly basis with capital and interest and secured by a fixed and floating charge on the assets of the company.


8.


Share capital

2024
2023
£
£
Issued and fully paid



2 Ordinary shares of £1 each
2
2


 
Page 5