Character Property Limited 10198887 false 2024-06-01 2025-05-31 2025-05-31 The principal activity of the company is property holding company. Digita Accounts Production Advanced 6.30.9574.0 true true 10198887 2024-06-01 2025-05-31 10198887 2025-05-31 10198887 core:CurrentFinancialInstruments 2025-05-31 10198887 core:CurrentFinancialInstruments core:WithinOneYear 2025-05-31 10198887 bus:SmallEntities 2024-06-01 2025-05-31 10198887 bus:AuditExemptWithAccountantsReport 2024-06-01 2025-05-31 10198887 bus:FilletedAccounts 2024-06-01 2025-05-31 10198887 bus:SmallCompaniesRegimeForAccounts 2024-06-01 2025-05-31 10198887 bus:RegisteredOffice 2024-06-01 2025-05-31 10198887 bus:Director1 2024-06-01 2025-05-31 10198887 bus:PrivateLimitedCompanyLtd 2024-06-01 2025-05-31 10198887 countries:AllCountries 2024-06-01 2025-05-31 10198887 2024-05-31 10198887 2023-06-01 2024-05-31 10198887 2024-05-31 10198887 core:CurrentFinancialInstruments 2024-05-31 10198887 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 iso4217:GBP xbrli:pure

Registration number: 10198887

Character Property Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 May 2025

Character Property Limited

Contents

Balance Sheet | 1
Notes to the Unaudited Financial Statements | 2 to 5

Character Property Limited

(Registration number: 10198887)
Balance Sheet as at 31 May 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Investment property | 4 | 810,000 | 810,000
Current assets |  |  |
Debtors | 5 | 69,963 | -
Cash at bank and in hand |  | 1,653 | 93
|  | 71,616 | 93
Creditors: Amounts falling due within one year | 6 | (866,793) | (827,924)
Net current liabilities |  | (795,177) | (827,831)
Net assets/(liabilities) |  | 14,823 | (17,831)
Capital and reserves |  |  |
Called up share capital | 7 | 100 | 100
Profit and loss account |  | 14,723 | (17,931)
Shareholders' funds/(deficit) |  | 14,823 | (17,831)

For the financial year ending 31 May 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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 February 2026 and signed on its behalf by:

......................................... S P Schusman Director

Character Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 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:
Unit 10 Maxted Park
Maxted Road
Hemel Hempstead
HP2 7EP
United Kingdom

These financial statements were authorised for issue by the Board on 10 February 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in Sterling (£). Monetary amounts in the financial statements are rounded to the nearest £.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in its operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding value added tax and other sales taxes.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Character Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

Tax

The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
Current tax is the amount of corporation tax payable in respect of taxable profit for the year or prior years.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by balance sheet date, except that :
.The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
. Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business
combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. 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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Character Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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 (including directors) during the year, was 2 (2024 - 2).

4 | Investment property

| 2025 £
At 1 June | 810,000
At 31 May | 810,000

In the opinion of the directors, the investment property is valued in the financial statements at its open market value as at 31 May 2025.

5 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | 36,200 | -
Prepayments | 33,763 | -
| 69,963 | -

Character Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

6 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Trade creditors |  | 33,998 | 1,560
Amounts owed to group undertakings and undertakings in which the company has a participating interest | 8 | 814,840 | 814,840
Taxation and social security |  | 8,597 | 3,066
Accruals and deferred income |  | 2,300 | 1,400
Other creditors |  | 7,058 | 7,058
|  | 866,793 | 827,924

7 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £1 each | 100 | 100 | 100 | 100

8 | Related party transactions

At the year end, included within other creditors is an amount of £7,058 (2024 - £7,058) owed to the directors of the company.
Also, included within other creditors at the year end is an amount of £814,840 (2024 - £814,840) owed to a company under common control.
These loans are provided interest free and are unsecured. There are no formal terms and conditions regarding they repayment of the loans.