Company Registration No. 15001361 (England and Wales)
CLASSIC PROPERTIES ( SOUTHPORT ) LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
TWP Accounting LLP
Chartered Accountants
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE
CLASSIC PROPERTIES ( SOUTHPORT ) LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
CLASSIC PROPERTIES ( SOUTHPORT ) LTD
Company Registration No. 15001361
BALANCE SHEET
- 1 -
2024
Notes
£
£
Current assets
Cash at bank and in hand
85,094
Creditors: amounts falling due within one year
3
(86,600)
Net current liabilities
(1,506)
Capital and reserves
Called up share capital
4
10
Profit and loss reserves
(1,516)
Total equity
(1,506)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 11 July 2025 and are signed on its behalf by:
N R Haydock
Director
CLASSIC PROPERTIES ( SOUTHPORT ) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024
- 2 -
1
Accounting policies
Company information
Classic Properties ( Southport ) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 1 Tersha Street, Richmond Upon Thames, TW9 2LY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Reporting period
These accounts show the period from 13 July 2023 to 31 July 2024, the accounts cover a period of 12 months and 18 days. There are no comparative figures as these are the first accounts since incorporation on 13 July 2023.
1.4
Financial instruments
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
CLASSIC PROPERTIES ( SOUTHPORT ) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2024
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
Number
Total
3
Creditors: amounts falling due within one year
2024
£
Other creditors
86,600
86,600
4
Called up share capital
2024
2024
Ordinary share capital
Number
£
Issued and fully paid
Ordinary shares of £1 each
10
10
5
Related party transactions
At the balance sheet date the company owed £86,000 to the connected company Classic Fabrics & Stylish Antiques Ltd.