| REGISTERED NUMBER: |
| CORACLE PROPERTY LTD |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| REGISTERED NUMBER: |
| CORACLE PROPERTY LTD |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| CORACLE PROPERTY LTD (REGISTERED NUMBER: 12824528) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Chartered Accountants' Report | 6 |
| CORACLE PROPERTY LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Ground Floor Cardigan House |
| Castle Court |
| Swansea Enterprise Park |
| Swansea |
| SA7 9LA |
| CORACLE PROPERTY LTD (REGISTERED NUMBER: 12824528) |
| BALANCE SHEET |
| 31 AUGUST 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Stocks |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
6 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET (LIABILITIES)/ASSETS | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Fair value reserve | 8 |
| Retained earnings | ( |
) | ( |
) |
| ( |
) |
| The director acknowledges his responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the director and authorised for issue on |
| CORACLE PROPERTY LTD (REGISTERED NUMBER: 12824528) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| 1. | STATUTORY INFORMATION |
| Coracle Property Ltd is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going Concern |
| Company has made the decision to sell all investment properties held. The remaining properties held at the year end were sold during the twelve months following this set of accounts. The company will settle its liabilities and then the director plans to strike off the company in 2025 . The company has continued in the next financial year, with continued support from the director and related company and the expected cash injection from the sale of the aforementioned properties. For this reason, the accounts have been prepared on a going concern basis. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| Stocks |
| The remaining properties owned by the company at the year end were sold within 12 months of the year end. These have been reclassified as stock and measured at fair value. |
| Taxation |
| 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. |
| Debtors |
| Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. |
| Cash at bank and in hand |
| Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. |
| Creditors and provisions |
| Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. |
| CORACLE PROPERTY LTD (REGISTERED NUMBER: 12824528) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 September 2023 |
| Additions |
| Disposals | ( |
) |
| Impairments | (23,000 | ) |
| Reclassification/transfer | (329,907 | ) |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Taxation and social security |
| Other creditors |
| Included in creditors is an amount owed to the director of £80,895 (2023: £85,412), this amount is interest free and repayable on demand. |
| 6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Debt from Associated Company |
| Loans |
| CORACLE PROPERTY LTD (REGISTERED NUMBER: 12824528) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| 7. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2024 | 2023 |
| £ | £ |
| Other loans |
| Charge 1282 4528 0004 |
| Paragon Bank PLC |
| 66 heol cae gurwen ammanford SA18 1PB. |
| Contains negative pledge. |
| Satisfied 28th February 2025 |
| Charge 1282 4528 0003 |
| Charter Court Financial Services Limited |
| Gwalia house, high street, llangadog SA19 9EF. |
| Contains negative pledge. |
| Satisfied 4th October 2024 |
| Charge 1282 4528 0001 |
| Belmont Green Finance Limited Trading as Vida Homeloans |
| 28 st davids road tairgwaith ammanford SA18 1YE. |
| Contains negative pledge. |
| Satisfied 7th February 2024 |
| Charge 1282 4528 0002 |
| Onesavings Bank PLC, Trading as Kent Reliance |
| 4 cwm nant hir terrace, tairgwaith, ammanford, SA18 1YF. |
| Contains negative pledge. |
| 8. | RESERVES |
| Fair |
| value |
| reserve |
| £ |
| At 1 September 2023 |
| Revaluation movement | (72,750 | ) |
| At 31 August 2024 |
| 9. | GOING CONCERN AND POST BALANCE SHEET EVENTS |
| Company has made the decision to sell all investment properties held. The remaining properties held at the year end were sold during the twelve months following this set of accounts. The company will settle its liabilities and then the director plans to strike off the company in 2025. The company has continued in the next financial year, with continued support from the director and related company and the expected cash injection from the sale of the aforementioned properties. |
| CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| CORACLE PROPERTY LTD |
| The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Coracle Property Ltd for the year ended 31 August 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the director of Coracle Property Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Coracle Property Ltd and state those matters that we have agreed to state to the director of Coracle Property Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Coracle Property Ltd and its director for our work or for this report. |
| It is your duty to ensure that Coracle Property Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Coracle Property Ltd. You consider that Coracle Property Ltd is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Coracle Property Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Ground Floor Cardigan House |
| Castle Court |
| Swansea Enterprise Park |
| Swansea |
| SA7 9LA |