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Company Registration No. 06001072 (England and Wales)







CORCORAN ESTATES 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 ESTATES LIMITED
REGISTERED NUMBER:06001072

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
1,100,000
1,100,000

Current assets
  

Stocks
 5 
607,898
607,898

Debtors
 6 
533,238
532,141

Investments
 7 
50,350
50,350

Cash at bank and in hand
  
161,109
86,961

  
1,352,595
1,277,350

Creditors: amounts falling due within one year
 8 
(1,337,776)
(1,303,871)

Net current assets/(liabilities)
  
 
 
14,819
 
 
(26,521)

Net assets
  
1,114,819
1,073,479


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
1,114,719
1,073,379

  
1,114,819
1,073,479


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 1

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

1.


General information

Corcoran Estates 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

Valuation of investments

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and Loss Account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.5

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 
2.6

Taxation

The tax currrently 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.


3.


Employees


The average monthly number of employees, including directors, during the year was 4 (2023 - 4).

Page 2

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

4.


Investment property


Freehold investment property

£



Valuation


At 1 September 2023
1,100,000



At 31 August 2024
1,100,000

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





5.


Stocks

2024
2023
£
£

Development property
607,898
607,898



6.


Debtors

2024
2023
£
£

Amounts owed by related undertakings
531,457
531,457

Other debtors and prepayments
1,781
684

533,238
532,141


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


7.


Current asset investments

2024
2023
£
£

Current asset investments
50,350
50,350


Page 3

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

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to related undertakings
1,322,346
1,298,605

Corporation tax
13,630
1,666

Accruals
1,800
3,600

1,337,776
1,303,871


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


9.


Share capital

2024
2023
£
£
Issued and fully paid



100 Ordinary shares of £1 each
100
100


Page 4