Silverfin false false 30/11/2024 01/12/2023 30/11/2024 Dr C K Patel 05/09/2002 13 August 2025 The principal activity of the company continued to be that of providing ophthalmic services. The directors are also actively making investments with the surplus funds. 04527244 2024-11-30 04527244 bus:Director1 2024-11-30 04527244 2023-11-30 04527244 core:CurrentFinancialInstruments 2024-11-30 04527244 core:CurrentFinancialInstruments 2023-11-30 04527244 core:ShareCapital 2024-11-30 04527244 core:ShareCapital 2023-11-30 04527244 core:RetainedEarningsAccumulatedLosses 2024-11-30 04527244 core:RetainedEarningsAccumulatedLosses 2023-11-30 04527244 core:OtherPropertyPlantEquipment 2023-11-30 04527244 core:OtherPropertyPlantEquipment 2024-11-30 04527244 core:CostValuation 2023-11-30 04527244 core:AdditionsToInvestments 2024-11-30 04527244 core:DisposalsRepaymentsInvestments 2024-11-30 04527244 core:RevaluationsIncreaseDecreaseInInvestments 2024-11-30 04527244 core:CostValuation 2024-11-30 04527244 2023-12-01 2024-11-30 04527244 bus:FilletedAccounts 2023-12-01 2024-11-30 04527244 bus:SmallEntities 2023-12-01 2024-11-30 04527244 bus:AuditExemptWithAccountantsReport 2023-12-01 2024-11-30 04527244 bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 04527244 bus:Director1 2023-12-01 2024-11-30 04527244 core:OtherPropertyPlantEquipment 2023-12-01 2024-11-30 04527244 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure

Company No: 04527244 (England and Wales)

C. K. PATEL LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2024
PAGES FOR FILING WITH THE REGISTRAR

C. K. PATEL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2024

Contents

C. K. PATEL LIMITED

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2024
C. K. PATEL LIMITED

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2024
DIRECTOR Dr C K Patel
SECRETARY Mrs S C Patel
REGISTERED OFFICE 264 Banbury Road
Oxford
OX2 7DY
United Kingdom
COMPANY NUMBER 04527244 (England and Wales)
ACCOUNTANT Shaw Gibbs Limited
264 Banbury Road
Oxford
OX2 7DY
United Kingdom
C. K. PATEL LIMITED

BALANCE SHEET

AS AT 30 NOVEMBER 2024
C. K. PATEL LIMITED

BALANCE SHEET (continued)

AS AT 30 NOVEMBER 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,114 2,365
Investment property 4 425,000 395,000
Investments 5 1,863,937 2,032,816
2,290,051 2,430,181
Current assets
Debtors 6 24,533 21,847
Cash at bank and in hand 127,340 23,670
151,873 45,517
Creditors: amounts falling due within one year 7 ( 161,466) ( 184,791)
Net current liabilities (9,593) (139,274)
Total assets less current liabilities 2,280,458 2,290,907
Provision for liabilities ( 8,045) ( 797)
Net assets 2,272,413 2,290,110
Capital and reserves
Called-up share capital 100 100
Profit and loss account 2,272,313 2,290,010
Total shareholders' funds 2,272,413 2,290,110

For the financial year ending 30 November 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 financial statements of C. K. Patel Limited (registered number: 04527244) were approved and authorised for issue by the Director on 13 August 2025. They were signed on its behalf by:

Dr C K Patel
Director
C. K. PATEL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2024
C. K. PATEL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

C. K. Patel Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 264 Banbury Road, Oxford, OX2 7DY, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Taxation

Current tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 25 % reducing balance

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases


The Company as lessor
Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

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 and bank loans, 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 2 2

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 December 2023 122,480 122,480
Additions 925 925
At 30 November 2024 123,405 123,405
Accumulated depreciation
At 01 December 2023 120,115 120,115
Charge for the financial year 2,176 2,176
At 30 November 2024 122,291 122,291
Net book value
At 30 November 2024 1,114 1,114
At 30 November 2023 2,365 2,365

4. Investment property

Investment property
£
Valuation
As at 01 December 2023 395,000
Fair value movement 30,000
As at 30 November 2024 425,000

Valuation

Investment property comprises the freehold residential property which was acquired by the company on 29 March 2021. The property was revalued on 30 November 2024 in accordance with the director's valuation which was made by reference to market evidence of transaction prices for similar properties at the time.

5. Fixed asset investments

Listed investments Total
£ £
Cost or valuation before impairment
At 01 December 2023 2,032,816 2,032,816
Additions 665,709 665,709
Disposals ( 990,328) ( 990,328)
Movement in fair value 155,740 155,740
At 30 November 2024 1,863,937 1,863,937
Carrying value at 30 November 2024 1,863,937 1,863,937
Carrying value at 30 November 2023 2,032,816 2,032,816

The historical cost of the listed investments at the year end totalled £1,546,755 (2023: £1,598,483), which included additions of £747,918 (2023: £598,837) and disposals of £799,706 (2023: £634,464).

There has been a net gain of £155,740 (2023: £22,144) during the period.

The portfolio is managed by an independent firm of financial advisors who provide the market value of the portfolio at the balance sheet date.

6. Debtors

2024 2023
£ £
Trade debtors 13,905 18,685
Corporation tax 8,249 0
Other debtors 2,379 3,162
24,533 21,847

7. Creditors: amounts falling due within one year

2024 2023
£ £
Taxation and social security 0 39,050
Other creditors 161,466 145,741
161,466 184,791

8. Related party transactions

Transactions with the entity's director

During the year the director personally paid company expenses and introduced funds of £15,550 (2023: £30,527), and they withdrew £13,852 (2023: £16,431). At the year end, the company owed £142,641 to the director (2023: £140,944) which is included within other creditors.

Other related party transactions

Dividends totalling £Nil (2023: £25,000) were paid in the year in respect of shares held by the Patel Family Trust.