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COMPANY REGISTRATION NUMBER: 11255509
CB TREGLOS LIMITED
FILLETED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 September 2024
CB TREGLOS LIMITED
STATEMENT OF FINANCIAL POSITION
30 September 2024
2024
2023
Note
£
£
Fixed assets
Investments
4
2,186,609
2,186,609
Current assets
Debtors
5
2,353,926
2,788,498
Cash at bank and in hand
418
1,084
-------------
-------------
2,354,344
2,789,582
Creditors: amounts falling due within one year
6
( 2,485,482)
( 2,779,246)
-------------
-------------
Net current (liabilities)/assets
( 131,138)
10,336
-------------
-------------
Total assets less current liabilities
2,055,471
2,196,945
-------------
-------------
Net assets
2,055,471
2,196,945
-------------
-------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
2,055,371
2,196,845
-------------
-------------
Shareholder funds
2,055,471
2,196,945
-------------
-------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of directors and authorised for issue on 26 December 2025 , and are signed on behalf of the board by:
M Omirou
Director
Company registration number: 11255509
CB TREGLOS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 SEPTEMBER 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 29 York Street, London, W1H 1EZ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared in sterling on the historical cost basis.
Going concern
The company is part of the Acorn Property Group and the ultimate parent company is Acorn PG Holdings Limited. The group has made a loss and has net liabilities however has unrealised profits on future development projects and is managing group cashflows to ensure liabilities are being paid as they fall due for payment. The group is receiving financial support from related companies to provide it with adequate working capital for a period of at least 12 months from the date of signing the financial statements and the ultimate parent company has provided group support. For these reasons, the directors have prepared the company’s financial statements on a going concern basis.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The actual outcome may diverge from these estimates if other assumptions are made, or other conditions arise. The key judgements and sources of estimation uncertainty that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: (i) Funding arrangements Management has assessed the substance of funding agreements for other loans and consider them to be financing arrangements. The sums advanced under these agreements are therefore included in creditors as financial liabilities. The financial liabilities are measured at transaction price, including any transaction costs and subsequent measurement is at amortised cost using the effective interest rate method. With the exception of the estimate described above, the directors consider that there are no other significant judgements or estimates in the preparation of these financial statements.
Investments
Investments in subsidiaries are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Investments
Shares in group undertakings
£
Cost
At 1 October 2023 and 30 September 2024
2,186,609
-------------
Impairment
At 1 October 2023 and 30 September 2024
–
-------------
Carrying amount
At 30 September 2024
2,186,609
-------------
At 30 September 2023
2,186,609
-------------
Subsidiaries, associates and other investments
Class of share
Percentage of shares held
Subsidiary undertakings
Treglos Hotel Limited
Ordinary
100
RST Constantine Bay
Ordinary
100
5. Debtors
2024
2023
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
2,353,926
2,787,583
Other debtors
–
915
-------------
-------------
2,353,926
2,788,498
-------------
-------------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
2,186,609
2,337,644
Accruals and deferred income
297,786
203,499
Social security and other taxes
1,087
1,087
Other creditors
–
237,016
-------------
-------------
2,485,482
2,779,246
-------------
-------------
7. Summary audit opinion
The auditor's report dated 26 December 2025 was unqualified , however, the auditor drew attention to the following by way of emphasis.
We draw attention to note 3 in the financial statements, which indicates that the company is reliant on support from the ultimate parent undertaking, Acorn PG Holdings Limited. We note the group is receiving financial support from related companies. The ability of the company to continue as a going concern is dependent on continuing financial support by the ultimate parent undertaking, which in turn is dependent on the continuing financial support of these related companies. These conditions, indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
The senior statutory auditor was Jonathan Day , for and on behalf of Streets Audit LLP .
8. Related party transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’, not to disclose related party transactions with wholly owned subsidiaries within the group.
9. Controlling party
RST Constantine Bay Investments Limited is the immediate parent company. Acorn PG Holdings Limited is the ultimate parent company. The registered office of the companies is 29 York Street, London, England, W1H 1EZ. Copies of the financial statements for the parent company and group can be obtained from Companies House.