REGISTERED NUMBER: 11712575 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

CPF PROPERTY SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S Fraser

REGISTERED OFFICE:

Site D2 Chain Caul Road

Ashton-On-Ribble

Preston

Lancashire

PR2 2PD

REGISTERED NUMBER:

11712575 (England and Wales)

ACCOUNTANTS:

Wallwork Nelson & Johnson

Chandler House

7 Ferry Road Office Park

Riversway

Preston

Lancashire

PR2 2YH

FIXED ASSETS

Tangible assets

4

181,000

-

Investment property

5

4,413,073

3,982,893

4,594,073

3,982,893

CURRENT ASSETS

Debtors

6

124,343

82,367

Cash at bank

23,755

554

148,098

82,921

CREDITORS

Amounts falling due within one year

7

4,962,978

4,392,807

NET CURRENT LIABILITIES

(4,814,880

)

(4,309,886

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(220,807

)

(326,993

)

CREDITORS

Amounts falling due after more than one year

8

99,702

17,626

NET LIABILITIES

(320,509

)

(344,619

)

CAPITAL AND RESERVES

Called up share capital

11

3

3

Retained earnings

(320,512

)

(344,622

)

SHAREHOLDERS' FUNDS

(320,509

)

(344,619

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 August 2025 and were signed by:

S Fraser - Director

1.	STATUTORY INFORMATION

CPF Property Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

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.

Going concern

Despite the company showing a deficit in shareholder funds, the director believes that, with his continued support, the company will have sufficient financial resources to continue in operation existence for the foreseeable future. In the period since the year end, additional finance has been acquired and lenders have agreed an extension to the repayment date. Thus the going concern basis of accounting in preparing the financial statements has been adopted.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

181,000

At 31 December 2024

181,000

NET BOOK VALUE

At 31 December 2024

181,000

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

3,982,893

Additions

430,180

At 31 December 2024

4,413,073

NET BOOK VALUE

At 31 December 2024

4,413,073

At 31 December 2023

3,982,893

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Trade debtors

49,237

-

Other debtors

75,106

82,367

124,343

82,367

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Bank loans and overdrafts

2,010,704

2,010,232

Hire purchase contracts

32,750

-

Trade creditors

2,820

-

Taxation and social security

5,917

-

Other creditors

2,910,787

2,382,575

4,962,978

4,392,807

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/12/24

31/12/23

£

£

Bank loans

4,181

17,626

Hire purchase contracts

95,521

-

99,702

17,626

9.	SECURED DEBTS

The following secured debts are included within creditors:

31/12/24

31/12/23

£

£

Bank loans

2,014,885

2,027,858

10.	DEFERRED TAX

£

Balance at 1 January 2024

(80,761

)

Tax Loss

5,655

Underprovided in previous year

Balance at 31 December 2024

(75,106

)

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/24

31/12/23

value:

£

£

3

Ordinary

£1

3

3

12.	RELATED PARTY DISCLOSURES

Joel Cossins and Steven Fraser are considered to be people of significant control via their shareholding in the company.

Joel Cossins has provided an interest free loan with a balance of £743,670 (2023: £216,665) outstanding as at 31 December 2024 and Steven Fraser has provided an interest free loan with a balance outstanding at the year end of £1,243,710 (2023: £1,135,718). Both loans are repayable on demand.

Joel Cossins is a director of JN Civils Limited.

As at 31 December 2024, the accruals of CPF Property Services Limited includes an amount relating to work done by JN Civils Limited as at 31 December 2024 but, not invoiced at this dated of £356,486 (2023: £596,306). The accrued amount is after netting off payments in advance of invoices to JN Civils Limited of £769,210 (2023: £549,210). CPF Property Services Limited received invoices from JN Civils Limited of £540,000 (2023: £1,500,000). The invoices are charged to CPF Property Services Limited at cost.

CPF Property Services Limited has an amount owing to JN Civils Limited of £178,000. There is no interest charged on this loan and it is repayable on demand.