Camberwell Property Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08912184 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2019

for

Camberwell Property Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D J Thompson

P A Norman

M Hubbard

P Winder

J M G Bradney

REGISTERED OFFICE:

Rectory House

Main Street

Beckley

East Sussex

TN31 6RS

REGISTERED NUMBER:

08912184 (England and Wales)

ACCOUNTANTS:

Rectory Accounting Limited

Rectory House

Main Street

Beckley

East Sussex

TN31 6RS

FIXED ASSETS

Investment property

3

8,600,000

6,835,908

CURRENT ASSETS

Debtors

4

114,774

130,927

Investments

5

54,543

10,000

Prepayments and accrued income

170,300

183,008

Cash at bank

109,234

75,841

448,851

399,776

CREDITORS

Amounts falling due within one year

6

639,674

565,035

NET CURRENT LIABILITIES

(190,823

)

(165,259

)

TOTAL ASSETS LESS CURRENT LIABILITIES

8,409,177

6,670,649

CREDITORS

Amounts falling due after more than one year

7

(4,118,000

)

(4,388,500

)

PROVISIONS FOR LIABILITIES

(545,113

)

(245,218

)

NET ASSETS

3,746,064

2,036,931

CAPITAL AND RESERVES

Called up share capital

3,350

3,350

Fair value reserve

9

2,661,435

1,197,238

Retained earnings

1,081,279

836,343

SHAREHOLDERS' FUNDS

3,746,064

2,036,931

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 29 August 2019 and were signed on its behalf by:

D J Thompson - Director

1.	STATUTORY INFORMATION

Camberwell Property Services Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Investment property

The investment property is included in the balance sheet at its fair value.

Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected

to apply when the property is sold.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal

of the timing difference.

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.

3.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2018

6,835,908

Revaluations

1,764,092

At 31 March 2019

8,600,000

NET BOOK VALUE

At 31 March 2019

8,600,000

At 31 March 2018

6,835,908

The investment property was valued on an open market basis on 10 June 2019 by Aitchison Rafferty Group.

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

114,774

120,003

Other debtors

-

10,924

114,774

130,927

5.	CURRENT ASSET INVESTMENTS

31.3.19

31.3.18

£

£

Fundsmith Equity Fund

54,543

10,000

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Bank loans and overdrafts

80,000

82,110

Trade creditors

174,582

171,008

Taxation and social security

115,063

58,284

Other creditors

270,029

253,633

639,674

565,035

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.19

31.3.18

£

£

Bank loans

1,260,000

1,340,000

Other creditors

2,858,000

3,048,500

4,118,000

4,388,500

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Directors' loans repayable only at the option of the company

2,858,000

3,048,500

Repayable by instalments

Bank loans more 5 yr by instal

940,000

1,020,000

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.19

31.3.18

£

£

Bank loans

1,340,000

1,420,000

The bank loans have been secured by fixed and floating charges over the investment property and the assets of

the company.

9.

RESERVES

Fair

value

reserve

£

At 1 April 2018

1,197,238

Revaluation of investment property

1,464,197

At 31 March 2019

2,661,435

The Fair Value reserve is not available for distribution as it is unrealised.

10.	RELATED PARTY DISCLOSURES

During prior periods loans were made to the company by the Directors or by the wives of two directors of the

company as shown below. Repayments of the loans can only be made at the option of the company and

repayments totalling 9% of the original sums were made during the year leaving the following balances

outstanding at the period end. Interest is payable at the rate of 8% per annum.

£

Mr D A Thompson 644,000

Mrs J A Norman 1,056,000

Mr M Hubbard 198,000

Mr P Winder 198,000

Mrs S E Bradney 352,000

During the year rent of £151,243 (2018 - £152,472) was charged to other entities related by virtue of common

control. At the year end the company was owed £NIL (2018: £6,001) by related parties.