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Registered number: 13697627









CORNELL PROPERTY HOLDINGS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

 
CORNELL PROPERTY HOLDINGS LIMITED
REGISTERED NUMBER: 13697627

BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
2023
                                                                     Note
£
£

Fixed assets
  

Investment property
 4 
272,403
272,403

  
272,403
272,403

Current assets
  

Cash at bank and in hand
 5 
2,237
2,625

  
2,237
2,625

Creditors: amounts falling due within one year
 6 
(65,234)
(72,730)

Net current liabilities
  
 
 
(62,997)
 
 
(70,105)

Total assets less current liabilities
  
209,406
202,298

Creditors: amounts falling due after more than one year
 7 
(201,731)
(201,731)

  

Net assets
  
7,675
567


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
7,673
565

  
7,675
567


The directors consider 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 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 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.

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.
 
Page 1

 
CORNELL PROPERTY HOLDINGS LIMITED
REGISTERED NUMBER: 13697627
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2024


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 July 2025.



N J Cornell
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
CORNELL PROPERTY HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

Cornell Property Holdings Limited ("the company") is a company limited by shares, incorporated in Englandand Wales. Its registered office is 40 Second Avenue, Billericay, CM12 9PP.
The principal activity of the company is that of investment properties.

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

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rental income
Rental income from operating leases is recognised on a straight line basis over the term of the lease.

 
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.

 
2.5

Taxation

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.


Page 3

 
CORNELL PROPERTY HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.6

Investment property

Investment property is carried at fair value determined annually by the directors 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 isprovided. This treatment is contrary to the Companies Act 2006 which states that fixed assets should be depreciated but is, in the opinion of the directors, necessary in order to give a true and fair view of the financial position of the company. Changes in fair value are recognised in the Statement of comprehensive income.

 
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.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Investment property


Freehold investment property

£



Valuation


At 1 November 2023
272,403



At 31 October 2024
272,403

The 2024 valuations were made by the directors, on an open market value for existing use basis.






Page 4

 
CORNELL PROPERTY HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
2,237
2,625

2,237
2,625



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
1,667
168

Other creditors
61,407
70,462

Accruals and deferred income
2,160
2,100

65,234
72,730



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
201,731
201,731

201,731
201,731



8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£




Amounts falling due after more than 5 years

Bank loans
201,731
201,731

201,731
201,731

201,731
201,731


Page 5

 
CORNELL PROPERTY HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

9.


Related party transactions

At the year end is an amount of £61,407 owed to the directors (2023 - £70,462).

 
Page 6