Registered number
10744613
Cro Magnon Property Limited
Filleted Accounts
31 December 2024
Cro Magnon Property Limited
Registered number: 10744613
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 - -
Tangible assets 4 417,206 372,200
Investments 5 - -
417,206 372,200
Current assets
Stocks - -
Debtors 6 3,825 3,200
Investments held as current assets 7 - -
Cash at bank and in hand 532 2,375
4,357 5,575
Creditors: amounts falling due within one year 8 (79,729) (84,196)
Net current liabilities (75,372) (78,621)
Total assets less current liabilities 341,834 293,579
Creditors: amounts falling due after more than one year 9 (192,438) (192,438)
Provisions for liabilities (27,153) (18,601)
Net assets 122,243 82,540
Capital and reserves
Called up share capital 1 1
Share premium - -
Revaluation reserve 10 142,702 97,627
Profit and loss account (20,460) (15,088)
Shareholder's funds 122,243 82,540
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Matthew Powell
Director
Approved by the board on 24 September 2025
Cro Magnon Property Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land and buildings Not depreciated
Plant and machinery 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2024 -
Additions -
Disposals -
At 31 December 2024 -
Amortisation
At 1 January 2024 -
Provided during the year -
On disposals -
At 31 December 2024 -
Net book value
At 31 December 2024 -
At 31 December 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2024 371,925 1,350 - 373,275
Additions - - - -
Surplus on revaluation 45,075 - - 45,075
Disposals - - - -
At 31 December 2024 417,000 1,350 - 418,350
Depreciation
At 1 January 2024 - 1,075 - 1,075
Charge for the year - 69 - 69
Surplus on revaluation - - - -
On disposals - - - -
At 31 December 2024 - 1,144 - 1,144
Net book value
At 31 December 2024 417,000 206 - 417,206
At 31 December 2023 371,925 275 - 372,200
5 Investments
Investments in
subsidiary Other
undertakings investments Total
£ £ £
Cost
At 1 January 2024 - - -
Additions - - -
Revaluation - - -
Disposals - - -
At 31 December 2024 - - -
6 Debtors 2024 2023
£ £
Trade debtors - -
Amounts owed by group undertakings and undertakings in which the company has a participating interest - -
Deferred tax asset - -
Other debtors 3,825 3,200
3,825 3,200
7 Investments held as current assets 2024 2023
£ £
Fair value
Listed investments - -
Unlisted investments - -
- -
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Listed investments - -
Unlisted investments - -
- -
8 Creditors: amounts falling due within one year 2024 2023
£ £
Non-equity preference shares - -
Bank loans and overdrafts - -
Obligations under finance lease and hire purchase contracts - -
Trade creditors - -
Amounts owed to group undertakings and undertakings in which the company has a participating interest - -
Taxation and social security costs 1,019 253
Other creditors 78,710 83,943
79,729 84,196
9 Creditors: amounts falling due after one year 2024 2023
£ £
Non-equity preference shares - -
Bank loans 192,438 192,438
Obligations under finance lease and hire purchase contracts - -
Trade creditors - -
Amounts owed to group undertakings and undertakings in which the company has a participating interest - -
Other creditors - -
192,438 192,438
10 Revaluation reserve 2024 2023
£ £
At 1 January 2024 97,627 125,702
Gain/(loss) on revaluation of land and buildings 45,075 (28,075)
Deferred taxation arising on the revaluation of land and buildings - -
At 31 December 2024 142,702 97,627
11 Basis of preparation
At the period end, the company’s balance sheet showed net current liabilities of £75,372 (2023: £78,621). This includes £76,740 (2023: £78,784) payable to Mr Matthew Powell, director. The director has indicated that he will continue to support the company financially until such time that it can afford to repay him. On this basis, the director feels it is appropriate that the accounts are prepared on a going concern basis.
12 Related party transactions
At the period end the company owed £78,740 (2023: £78,784) to Mr Matthew Powell, director. The loan is accruing interest at 5% and repayable on demand.
13 Controlling party
The company is ultimately controlled by Mr Matthew Powell, director, who owns 100% of the issued share capital.
14 Other information
Cro Magnon Property Limited is a private company limited by shares and incorporated in England. Its registered office is:
Tre-Ru House
The Leats
Truro
Cornwall
TR1 3AG
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