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Registered number: 11174466









CORAM DEVELOPMENTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
CORAM DEVELOPMENTS LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF CORAM DEVELOPMENTS LIMITED
FOR THE YEAR ENDED 30 SEPTEMBER 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Coram Developments Limited for the year ended 30 September 2024 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of Coram Developments Limited in accordance with the terms of our engagement letter dated 9 March 2023Our work has been undertaken solely to prepare for your approval the financial statements of Coram Developments Limited and state those matters that we have agreed to state to the director of Coram Developments Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Coram Developments Limited and its director for our work or for this report. 

It is your duty to ensure that Coram Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Coram Developments Limited. You consider that Coram Developments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Coram Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Hurkan Sayman & Co
Chartered Accountants
291 Green Lanes
Palmers Green
London
N13 4XS
27 June 2025
Page 1

 
CORAM DEVELOPMENTS LIMITED
REGISTERED NUMBER: 11174466

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
2,375,000
2,183,470

  
2,375,000
2,183,470

Current assets
  

Debtors
  
3,367
3,542

Cash at bank and in hand
 5 
3,337
1,451

  
6,704
4,993

Creditors: amounts falling due within one year
 6 
(442,849)
(437,535)

Net current liabilities
  
 
 
(436,145)
 
 
(432,542)

Total assets less current liabilities
  
1,938,855
1,750,928

Creditors: amounts falling due after more than one year
 7 
(1,788,574)
(1,796,089)

Provisions for liabilities
  

Deferred tax
 9 
(60,266)
(12,383)

  
 
 
(60,266)
 
 
(12,383)

Net assets/(liabilities)
  
90,015
(57,544)


Capital and reserves
  

Called up share capital 
 11 
100
100

Investment property reserve
  
180,795
37,148

Profit and loss account
  
(90,880)
(94,792)

  
90,015
(57,544)


The director considers 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 director acknowledges his 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.

Page 2

 
CORAM DEVELOPMENTS LIMITED
REGISTERED NUMBER: 11174466
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024

The Company has opted not to file the statement of comprehensive income 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 by: 




Kenan Ozdas
Director

Date: 27 June 2025

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
CORAM DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Coram Developments Limited is a private company limited by share capital, incprporated in England and Wales, registration number 11174466. The address of the registered office is 291 Green Lanes, Palmers Green, London N13 4XS.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover comprises of rents received by the company during the year.
Turnover is recognised in the period that the rent relates to.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

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

Page 4

 
CORAM DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.6

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
CORAM DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.9

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Investment property


Freehold investment property

£



Valuation


At 1 October 2023
2,183,470


Surplus on revaluation
191,530



At 30 September 2024
2,375,000

The 2024 valuations were made by the Director, on a fair value basis.





5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
3,337
1,451

3,337
1,451


Page 6

 
CORAM DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
9,236
9,026

Trade creditors
4,616
2,538

Other creditors
427,485
423,091

Accruals and deferred income
1,512
2,880

442,849
437,535



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
1,788,574
1,796,089

1,788,574
1,796,089


Bank loans at the year end are secured by way of a charge over all the properties and undertaking of the company.


8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
9,236
9,026


9,236
9,026

Amounts falling due 1-2 years

Bank loans
9,470
9,256

Amounts falling due 2-5 years

Bank loans
4,266
12,920

Amounts falling due after more than 5 years

Bank loans
1,774,838
1,773,913

1,797,810
1,805,115


Page 7

 
CORAM DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

9.


Deferred taxation




2024


£






At beginning of year
(12,383)


Charged to profit or loss
(47,883)



At end of year
(60,266)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Fair-value movements
(60,265)
(12,383)

(60,265)
(12,383)


10.


Provisions










At 30 September 2024


11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



12.


Related party transactions

Included within Other Creditors at the year end is an amount of £427,485 (2023:£423,091) owed to the Director by the Company. The loan is unsecured, free of interest and repayable on demand.

 
Page 8