Registration number:
CPFB Properties Ltd
for the Period from 26 October 2023 to 31 October 2024
CPFB Properties Ltd
Contents
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
CPFB Properties Ltd
(Registration number: 15237471)
Balance Sheet as at 31 October 2024
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Note |
2024 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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For the financial period ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
CPFB Properties Ltd
(Registration number: 15237471)
Balance Sheet as at 31 October 2024
Approved and authorised by the
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CPFB Properties Ltd
Notes to the Unaudited Financial Statements for the Period from 26 October 2023 to 31 October 2024
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
UK
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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.
Judgements
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
CPFB Properties Ltd
Notes to the Unaudited Financial Statements for the Period from 26 October 2023 to 31 October 2024
Tax
The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.
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:
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Asset class |
Depreciation method and rate |
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Plant & Machinery |
25% Reducing Balance |
Investment property
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
CPFB Properties Ltd
Notes to the Unaudited Financial Statements for the Period from 26 October 2023 to 31 October 2024
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
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Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
CPFB Properties Ltd
Notes to the Unaudited Financial Statements for the Period from 26 October 2023 to 31 October 2024
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Tangible assets |
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Other tangible assets |
Total |
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Cost or valuation |
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Additions |
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At 31 October 2024 |
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Depreciation |
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Charge for the period |
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At 31 October 2024 |
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Carrying amount |
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At 31 October 2024 |
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Investment properties |
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2024 |
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Additions |
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Fair value adjustments |
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At 31 October |
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Investments |
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2024 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
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Cost or valuation |
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Additions |
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Provision |
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Carrying amount |
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At 31 October 2024 |
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CPFB Properties Ltd
Notes to the Unaudited Financial Statements for the Period from 26 October 2023 to 31 October 2024
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
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Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2024 |
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Subsidiary undertakings |
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Enterprise Chambers, 276 Furlong Road, Stoke-On-Trent, ST6 5UN England and Wales |
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Enterprise Chambers, 276 Furlong Road, Stoke-On-Trent, ST6 5UN England and Wales |
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Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
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Debtors |
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Current |
Note |
2024 |
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Amounts owed by related parties |
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Other debtors |
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CPFB Properties Ltd
Notes to the Unaudited Financial Statements for the Period from 26 October 2023 to 31 October 2024
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Creditors |
Creditors: amounts falling due within one year
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2024 |
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Due within one year |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
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2024 |
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Due after one year |
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Loans and borrowings |
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Lending facilities included in bank loans over one year are secured by the way of a charge over 127 Hartshill Road, Stoke on Trent, ST4 7LU and are guaranteed by the assets in which they relate.
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Related party transactions |
CPFB Properties Ltd is related to Charles Wainwright Properties Ltd due to R Wainwright having direct or indirect control over both companies.
The intercompany loan of £727,942 shown within other creditors is unsecured, repayable on demand and interest free.