Registered number
12854683
CANDID PROPERTY SERVICES LTD
Filleted Abridged Accounts
30 September 2024
CANDID PROPERTY SERVICES LTD
Registered number: 12854683
Abridged Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 325,985 325,985
Current assets
Debtors 100 4,303
Cash at bank and in hand 5,890 7,462
5,990 11,765
Creditors: amounts falling due within one year (1,413) (766)
Net current assets 4,577 10,999
Total assets less current liabilities 330,562 336,984
Creditors: amounts falling due after more than one year (326,900) (335,556)
Net assets 3,662 1,428
Capital and reserves
Called up share capital 100 100
Profit and loss account 3,562 1,328
Shareholders' funds 3,662 1,428
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.
Sribhavani Chandu Bhuman
Director
Approved by the board on 26 June 2025
CANDID PROPERTY SERVICES LTD
Notes to the Abridged Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The abridged accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Total
£
Cost
At 1 October 2023 332,637
At 30 September 2024 332,637
Depreciation
At 1 October 2023 6,652
At 30 September 2024 6,652
Net book value
At 30 September 2024 325,985
At 30 September 2023 325,985
4 Related party transactions
As of the balance date, the company has outstanding loans with its directors and an interest-free loan from Candid Consultants Ltd, amounting to £89,844 and £35,768 respectively, for the purpose of a house purchase.
5 Other information
CANDID PROPERTY SERVICES LTD is a private company limited by shares and incorporated in England. Its registered office is:
7 Torque Close
Basingstoke
England
RG24 9YL
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