Canfield (Coptic Street) Limited - Accounts

CANFIELD (COPTIC STREET) LIMITED - Company Information

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Registered Number: 03785311

CANFIELD (COPTIC STREET) LIMITED

Abridged Accounts

Period of accounts

Start date: 01 July 2018

End date: 30 June 2019

Canfield (Coptic Street) Limited
Contents Page
For the year ended 30 June 2019

Statement of Financial Position
Notes to the Financial Statements

Canfield (Coptic Street) Limited
Statement of Financial Position
As at 30 June 2019

	Notes	2019 £	2018 £
Fixed assets
Tangible fixed assets	2	1,500,000	2,015,046
		1,500,000	2,015,046
Current assets
Debtors: amounts falling due within one year		67,500	69,500
Cash at bank and in hand		12,280	77,551
		79,780	147,051
Creditors: amount falling due within one year		(2,043,030)	(68,819)
Net current assets		(1,963,250)	78,232

Total assets less current liabilities		(463,250)	2,093,278
Creditors: amount falling due after more than one year		0	(3,828,672)
Net assets		(463,250)	(1,735,394)

Capital and reserves
Called up share capital		2	2
Reserves		87,192	1,163,961
Profit and loss account		(550,444)	(2,899,357)
Shareholders funds		(463,250)	(1,735,394)

For the year ended 30 June 2019 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's 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
The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

Signed on behalf of the board of director

--------------------------------
M Keats
Director

Date approved by the board: 29 March 2020

Canfield (Coptic Street) Limited
Notes to the Abridged Financial Statements
For the year ended 30 June 2019

General Information

Canfield (Coptic Street) Limited is a private company, limited by shares, registered in , registration number 03785311, registration address 20 Coxon Street, Spondon, Derby, DE21 7JG.

The presentation currency is £ sterling

Accounting Policies

Significant accounting policies

Statement of compliance

These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.

The financial statements are prepared in sterling which is the functional currency of the company.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Tangible fixed assets

Cost	Land and Buildings	Total
	£	£
At 01 July 2018	2,015,045	2,015,045
Additions	561,724	561,724
Disposals	-	-
Revaluations	(1,076,769)	(1,076,769)
At 30 June 2019	1,500,000	1,500,000
Depreciation
At 01 July 2018	-	-
Charge for year	-	-
On disposals	-	-
At 30 June 2019	-	-
Net book values
Closing balance as at 30 June 2019	1,500,000	1,500,000
Opening balance as at 01 July 2018	2,015,046	2,015,046

During the year under review capital works were incurred totalling approximately £562,000. Prior to being authorised an independent valuation of the property was obtained, which was set at £900,000.

The director has accordingly revalued this investment property at £1,500,000 as being realistic in the current economic climate.