Corner Croft Properties Limited

	Page
Statement of Financial Position	1—2
Notes to the Financial Statements	3—5

1. General Information

Corner Croft Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11494207 . The registered office is Corner Croft Hassall Road, Alsager, Stoke-On-Trent, ST7 2SJ.

The principal activity of the company during the year was the letting of its investment property.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value.

2.2. Significant judgements and estimations

In the application of the companies accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

2.3. Turnover

Turnover is measured at the fair value of the consideration receivable for the letting of investment property, net of discounts and Value Added Tax. Revenue is recognised in the income statement on a time basis over the period of the lease term.

2.4. Investment Properties

Investment property, which is property held to earn rentals and/or capital appreciation, is initially recognised at cost, which includes the purchase price and any directly attributable expenditure. Subsequently, it is measured at fair value at the reporting end date. No depreciation is provided for. Changes in fair value are recognised in the income statement.

2.5. Financial Instruments

A financial asset or a financial liability is recognised only when the company 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.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not being previously been recognised.

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Corner Croft Properties Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the income statement because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.7. Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2024: 2)

4. Investment Property

	2025
	£
Fair Value
As at 1 September 2024	313,000
Additions	7,780
Revaluations	11,220

As at 31 August 2025	332,000

The investments properties shown above are freehold. The directors revalued the investment properties on 31 August 2025 and the resulting fair value adjustment is included within income statement for that period.

If these properties were accounted for on the historic cost basis, then the cost and the net book value at 31 August 2025 would have been £239,123 (2024: £231,343).

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Corner Croft Properties Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

5. Debtors

	2025	2024
	£	£
Due within one year
Prepayments and accrued income	1,618	925
Other debtors	440	1,713

	2,058	2,638

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	45	10
Bank loans and overdrafts	9,880	9,880
Other loans	20,000	-
Other taxes and social security	1	1
Accruals and deferred income	7,490	7,969
Directors' loan accounts	84,514	75,121

	121,930	92,981

Bank loans of £9,880 (2024: £9,880) are secured by legal charges over the company's investment properties.

7. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	118,310	127,945

The bank loans are secured by legal charges on the company's investment properties.

Of the creditors falling due after more than one year the following amounts are due after more than five years.

	2025		2024
	£		£
Bank loans	80,292		90,750

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	2	2

9. Reserves

	Fair value reserve	Income Statement
	£	£
As at 1 September 2024	66,142	14,776
Profit for the year and total comprehensive income	-	6,123

Movements in fair value reserve	9,088	-
Transfer to/from Fair value reserve	-	(9,088)

As at 31 August 2025	75,230	11,811

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Investment Properties	4		332,000		313,000

			332,000		313,000
CURRENT ASSETS
Debtors	5	2,058		2,638
Cash at bank and in hand		10,872		1,723

		12,930		4,361
Creditors: Amounts Falling Due Within One Year	6	(121,930 )		(92,981 )

NET CURRENT ASSETS (LIABILITIES)			(109,000 )		(88,620 )

TOTAL ASSETS LESS CURRENT LIABILITIES			223,000		224,380

Creditors: Amounts Falling Due After More Than One Year	7		(118,310 )		(127,945 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(17,647 )		(15,515 )

NET ASSETS			87,043		80,920

CAPITAL AND RESERVES
Called up share capital	8		2		2
Fair value reserve	9		75,230		66,142
Income Statement			11,811		14,776

SHAREHOLDERS' FUNDS			87,043		80,920