0 2 Corbett Real Estate Ltd 11460165 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is 68209 Digita Accounts Production Advanced 6.30.9574.0 true 11460165 2024-01-01 2024-12-31 11460165 2024-12-31 11460165 core:RetainedEarningsAccumulatedLosses 2024-12-31 11460165 core:RevaluationReserve 2024-12-31 11460165 core:ShareCapital 2024-12-31 11460165 core:CurrentFinancialInstruments 2024-12-31 11460165 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 11460165 core:Non-currentFinancialInstruments 2024-12-31 11460165 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 11460165 core:FurnitureFittingsToolsEquipment 2024-12-31 11460165 bus:SmallEntities 2024-01-01 2024-12-31 11460165 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 11460165 bus:FullAccounts 2024-01-01 2024-12-31 11460165 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 11460165 bus:RegisteredOffice 2024-01-01 2024-12-31 11460165 bus:Director1 2024-01-01 2024-12-31 11460165 bus:Director2 2024-01-01 2024-12-31 11460165 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 11460165 bus:Agent1 2024-01-01 2024-12-31 11460165 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 11460165 core:OfficeEquipment 2024-01-01 2024-12-31 11460165 countries:EnglandWales 2024-01-01 2024-12-31 11460165 2023-12-31 11460165 core:FurnitureFittingsToolsEquipment 2023-12-31 11460165 2023-01-01 2023-12-31 11460165 2023-12-31 11460165 core:RetainedEarningsAccumulatedLosses 2023-12-31 11460165 core:RevaluationReserve 2023-12-31 11460165 core:ShareCapital 2023-12-31 11460165 core:CurrentFinancialInstruments 2023-12-31 11460165 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 11460165 core:Non-currentFinancialInstruments 2023-12-31 11460165 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 11460165 core:FurnitureFittingsToolsEquipment 2023-12-31 xbrli:pure iso4217:GBP

Registration number: 11460165

Corbett Real Estate Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Corbett Real Estate Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Corbett Real Estate Ltd

Company Information

Directors

Mr Michael Patrick Corbett

Mrs Laura Elizabeth Corbett

Registered office

32 New Road
London
SE2 0QG

Accountants

RiverView Portfolio Limited 1 Market Hill
Calne
Wiltshire
SN11 0BT

 

Corbett Real Estate Ltd

(Registration number: 11460165)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

449

794

Investment property

6

1,435,000

1,385,000

 

1,435,449

1,385,794

Current assets

 

Debtors

7

4,771

5,508

Cash at bank and in hand

 

47,621

27,397

 

52,392

32,905

Creditors: Amounts falling due within one year

8

(834)

(838)

Net current assets

 

51,558

32,067

Total assets less current liabilities

 

1,487,007

1,417,861

Creditors: Amounts falling due after more than one year

8

(1,431,314)

(1,441,059)

Provisions for liabilities

(32,166)

(23,339)

Net assets/(liabilities)

 

23,527

(46,537)

Capital and reserves

 

Called up share capital

1,000

1,000

Revaluation reserve

137,128

99,497

Retained earnings

(114,601)

(147,034)

Shareholders' funds/(deficit)

 

23,527

(46,537)

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 22 April 2025 and signed on its behalf by:
 

 

Corbett Real Estate Ltd

(Registration number: 11460165)
Balance Sheet as at 31 December 2024 (continued)

.........................................
Mr Michael Patrick Corbett
Director

.........................................
Mrs Laura Elizabeth Corbett
Director

 

Corbett Real Estate Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
32 New Road
London
SE2 0QG
United Kingdom

These financial statements were authorised for issue by the Board on 22 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

Straight Line 25%

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the company director. The valuation is made observing market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

Corbett Real Estate Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2

Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 2).

4

Profit/loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

344

716

 

Corbett Real Estate Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2024

2,863

2,863

At 31 December 2024

2,863

2,863

Depreciation

At 1 January 2024

2,069

2,069

Charge for the year

345

345

At 31 December 2024

2,414

2,414

Carrying amount

At 31 December 2024

449

449

At 31 December 2023

794

794

6

Investment properties

2024
£

At 1 January

1,385,000

Additions

3,541

Fair value adjustments

46,459

At 31 December

1,435,000

The fair value of the property at 31 December 2024 has been arrived at on the basis of a valuation carried out at that date by the director of the company, who is not a professionally qualified valuer. The valuation of £1,435,000 was arrived at by reference to the market evidence of transaction prices for similar properties in its location the property is situated.

7

Debtors

Current

2024
£

2023
£

Trade debtors

374

391

Prepayments

4,396

5,117

Other debtors

1

-

 

4,771

5,508

 

Corbett Real Estate Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

-

25

Accruals and deferred income

834

813

834

838

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

1,024,679

1,174,559

Other non-current financial liabilities

 

406,635

266,500

 

1,431,314

1,441,059

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

1,024,679

1,174,559