Registration number: 10641761

Project Cinnamon Ltd

Contents

Company Information	1
Statement of Financial Position	2 to 3
Notes to the Unaudited Financial Statements	4 to 6

Project Cinnamon Ltd

Company Information

Directors

P Holden J E Q Harris

Registered office

20-22 Wenlock Road London N1 7GU

Accountants

Brebners Chartered Accountants 130 Shaftesbury Avenue London W1D 5AR

Project Cinnamon Ltd

Statement of Financial Position as at 28 February 2025

	Note	2025 £	2024 £
Fixed assets
Investment property	4	2,100,000	2,100,000
Current assets
Debtors	5	66,707	51,683
Cash at bank and in hand		91,686	89,348
		158,393	141,031
Creditors: Amounts falling due within one year	6	(375,229)	(342,024)
Net current liabilities		(216,836)	(200,993)
Total assets less current liabilities		1,883,164	1,899,007
Creditors: Amounts falling due after more than one year	6	(1,405,315)	(1,333,182)
Provisions for liabilities		(136,924)	(136,924)
Net assets		340,925	428,901
Capital and reserves
Called up share capital		1,200	1,200
Share premium reserve		558,804	558,804
Retained earnings		(219,079)	(131,103)
Shareholders' funds		340,925	428,901

For the financial year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Project Cinnamon Ltd

Statement of Financial Position as at 28 February 2025

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The directors of Project Cinnamon Ltd have elected not to include a copy of the profit and loss account within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, s444.

Approved and authorised by the Board on 15 October 2025 and signed on its behalf by:
 

.........................................

J E Q Harris

Director

Company registration number: 10641761

Project Cinnamon Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
20-22 Wenlock Road
London
N1 7GU

The principal activity of the company is that of property investment.

2	Accounting policies

Statement of compliance

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' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The company made a loss for the year but had net assets at 28 February 2025 amounting to £340,925 including cash at bank of £91,686.

The company continues to receive rental income and the directors do not believe current economic conditions will adversely affect the fair value of the investment property or the tenants' ability to meet their rental obligations.

Having made sufficient enquiries, and based upon the above, the directors have a reasonable expectation that the company has adequate resources to continue operating in the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of rental income received or receivable in the ordinary course of the company's activities. Turnover is shown net of value added tax, rebates and discounts.

Rental income is recognised evenly over the period of the leases or licences.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Project Cinnamon Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually and adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company during the year, was 0 (2024 - 0).

Project Cinnamon Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

4	Investment properties

	2025 £
Fair value At 1 March 2024 and 28 February 2025	2,100,000

The investment property is reflected at fair value as estimated by the directors at 28 February 2025 at an amount of £2,100,000.

5

Debtors

	2025 £	2024 £
Trade debtors	30,732	19,220
Other debtors	35,975	32,463
	66,707	51,683

6

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Bank borrowings	1,200	1,200
Trade creditors	36,405	39,220
Other creditors	337,624	301,604
	375,229	342,024

Creditors: amounts falling due after more than one year

	2025 £	2024 £
Bank and other borrowings	1,405,315	1,333,182