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COMPANY REGISTRATION NUMBER: 07326682
CB RETAIL LIMITED
Filleted Unaudited Financial Statements
31 July 2024
CB RETAIL LIMITED
Statement of Financial Position
31 July 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
3,676
4,595
Investments
6
3,115,498
2,708,297
------------
------------
3,119,174
2,712,892
Current assets
Debtors
7
( 12,346)
22,250
Cash at bank and in hand
2,362
25,920
--------
--------
( 9,984)
48,170
Creditors: amounts falling due within one year
8
1,904,818
1,618,199
------------
------------
Net current liabilities
1,914,802
1,570,029
------------
------------
Total assets less current liabilities
1,204,372
1,142,863
Creditors: amounts falling due after more than one year
9
1,301,852
1,162,749
------------
------------
Net liabilities
( 97,480)
( 19,886)
------------
------------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 97,481)
( 19,887)
--------
--------
Shareholders deficit
( 97,480)
( 19,886)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
CB RETAIL LIMITED
Statement of Financial Position (continued)
31 July 2024
These financial statements were approved by the board of directors and authorised for issue on 28 July 2025 , and are signed on behalf of the board by:
M K Sehgal
Director
Company registration number: 07326682
CB RETAIL LIMITED
Notes to the Financial Statements
Year ended 31 July 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 63 Dennis Lane, Stanmore, HA7 4JU.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% reducing balance
Fixtures and fittings
-
20% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 7 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Total
£
£
£
Cost
At 1 August 2023 and 31 July 2024
3,220
50,636
53,856
-------
--------
--------
Depreciation
At 1 August 2023
1,944
47,317
49,261
Charge for the year
255
664
919
-------
--------
--------
At 31 July 2024
2,199
47,981
50,180
-------
--------
--------
Carrying amount
At 31 July 2024
1,021
2,655
3,676
-------
--------
--------
At 31 July 2023
1,276
3,319
4,595
-------
--------
--------
6. Investments
Shares in group undertakings
Shares in participating interests
Total
£
£
£
Cost
At 1 August 2023
326
2,707,971
2,708,297
Additions
50
679,146
679,196
Disposals
( 271,995)
( 271,995)
----
------------
------------
At 31 July 2024
376
3,115,122
3,115,498
----
------------
------------
Impairment
At 1 August 2023 and 31 July 2024
----
------------
------------
Carrying amount
At 31 July 2024
376
3,115,122
3,115,498
----
------------
------------
At 31 July 2023
326
2,707,971
2,708,297
----
------------
------------
The company has a participating interest of 37.50% in Regents Estate (London) LLP. The total amount of loans made during the year was £448,839. (2023: £706,004)
The company has a participating interest of 99% in Savoy Developers LLP. The total amount of loans made during the year was £33,650. (2023: £-6,953)
The company has a participating interest of 98% in Savoy Projects LLP. The total amount of loans made during the year was £1,124,544. (2023: £784,658)
The company has a participating interest of 75% in Savoy Grove LLP. The total amount of loans made during the year was £971,694. (2023: £836,825)
The company has a participating interest as Director in Tasty Tables London Ltd. The total amount of loans received during the year was £-302,024. (2023: £-317,466)
The company has a participating interest as Director in Ankaram Group Ltd. The total amount of loans received during the year was £-154,682. (2023: £-154,494)
The company has a participating interest as related party in Savoy Real Estates Ltd. The total amount of loans made during the year was £-1,204. (2023: £8,303)
The company has a participating interest as related party in Davenport Estates LLP. The total amount of loans made during the year was £999,439. (2023: £851,095)
7. Debtors
2024
2023
£
£
Trade debtors
( 34,471)
Other debtors
22,125
22,250
--------
--------
( 12,346)
22,250
--------
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
54,572
303,257
Amounts owed to group undertakings and undertakings in which the company has a participating interest
788,813
456,650
Corporation tax
17,179
17,179
Social security and other taxes
87,553
85,565
Sundry loans
170,000
135,000
Other creditors
786,701
620,548
------------
------------
1,904,818
1,618,199
------------
------------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,301,852
1,162,749
------------
------------
10. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
M K Sehgal
( 604,597)
( 177,084)
( 781,681)
---------
---------
---------
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
M K Sehgal
( 670,532)
65,935
( 604,597)
---------
--------
---------
11. Related party transactions
The company holds 100% share Capital of CBR SPV Ltd in which Mukesh Kumar Sehgal is the director and the total amount of loans made to CBR SPV Ltd during the year was £75,076. (2023: £141,070) The company holds 100% share Capital of Savoy Estates Ltd in which Mukesh Kumar Sehgal is the director and the total amount of loan made to Savoy Estates Ltd during the year was £-20,082 (2023: £-10,350) The company holds 76% share Capital of Pinnacle Enterprises Ltd in which Mukesh Kumar Sehgal is the director and the total amount of loan from to Pinnacle Enterprises Ltd during the year was £34,280. (2023: £19,275) The company holds 50% share Capital of Savoy Estates SPV Ltd in which Mukesh Kumar is the director and the total amount of loan to Savoy Estates SPV Ltd during the year was £-878,087. (2023: -606,645)