CDF (No.31) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07331251 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2020

FOR

CDF (NO.31) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

P M Fox

S B Morgan

Mrs V J Fox

Mrs E L T F Morgan

REGISTERED OFFICE:

2 Oakfield Road

Clifton

Bristol

BS8 2AL

REGISTERED NUMBER:

07331251 (England and Wales)

ACCOUNTANTS:

PJE Chartered Accountants

2 Oakfield Road

Clifton

Bristol

BS8 2AL

FIXED ASSETS

Investment property

4

900,000

1,300,000

CURRENT ASSETS

Debtors

5

13,293

27,134

Cash at bank

17,703

28,469

30,996

55,603

CREDITORS

Amounts falling due within one year

6

431,713

496,116

NET CURRENT LIABILITIES

(400,717

)

(440,513

)

TOTAL ASSETS LESS CURRENT LIABILITIES

499,283

859,487

PROVISIONS FOR LIABILITIES

-

23,115

NET ASSETS

499,283

836,372

CAPITAL AND RESERVES

Called up share capital

1

1

Other reserves

-

256,616

Retained earnings

499,282

579,755

499,283

836,372

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2020 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 20 August 2020 and were signed on its behalf by:

P M Fox - Director

1.	STATUTORY INFORMATION

CDF (No.31) 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.

COVID-19 and going concern

The COVID-19 pandemic has, at the time of approving these financial statements, had an adverse

impact the Company. The demand for the company's products has decreased and accordingly the

forecast for coming periods, covering at least 12 months from approval of the financial statements,

has been adjusted to reflect the directors current expectations of the impact on results for the

remainder of 2020 and future periods. Whilst there have been restrictions on staff movement the

business has operated with minimal disruption and has adapted to ensure essential supplies continue

to be able to service customers.

Uncertainty as to the length of the pandemic and the related measures to combat it mean that the 2020

full year impact cannot yet be known (but the directors are confident that they have put in place

measures to ensure the impact is mitigated as much as possible by working closely with our tenants

and management team to ensure that shoppers are as safe as possible in our retail environment and the

tenants well placed to cope with any future changes in legislation caused by COVID-19).

The company is trading profitably, with positive cash flow and a strong balance sheet. The directors

have a reasonable expectation that the Company has adequate resources to continue in operation for at

least 12 months from the date of signing of these financial statements. These considerations included

the impact of COVID-19 on the company. Accordingly, the financial statements have been prepared

on the going concern basis.

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

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from

changes in fair value is recognised in the Income Statement.

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.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2019

1,300,000

Revaluations

(400,000

)

At 30 April 2020

900,000

NET BOOK VALUE

At 30 April 2020

900,000

At 30 April 2019

1,300,000

Fair value at 30 April 2020 is represented by:

£

Valuation in 2020

(120,269

)

Cost

1,020,269

900,000

If the investment property had not been revalued it would have been included at the following

historical cost:

30.4.20

30.4.19

£

£

Cost

1,020,269

1,020,269

The investment property was valued on an open market basis on 30 April 2020 by the directors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.20

30.4.19

£

£

Trade debtors

2,962

9,883

Other debtors

1,950

8,274

PAYE refund due

6,739

6,739

Prepayments and accrued income

1,642

2,238

13,293

27,134

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.20

30.4.19

£

£

Trade creditors

19

6,079

Tax

8,823

9,450

VAT

2,686

5,440

Other creditors

33,978

33,978

Grant creditor

6,315

-

Directors' current accounts

300,230

366,232

Accruals and deferred income

79,662

74,937

431,713

496,116

7.	RELATED PARTY DISCLOSURES

Chelverton Developments Limited is a related party to the company by virtue of being under common

control. As at 30 April 2020, the company owed Chelverton Developments Limited £33,978 (2019:

£33,978).

As at 30 April 2020, the directors were owed £300,230 (2019: £366,232), by the company. Interest is

accruing on the loan at 7.5% per annum over bank base rate and the loans are repayable on demand.

8.	POST BALANCE SHEET EVENTS

Since the balance sheet date, the COVID-19 pandemic has continued to spread across the world. This

is considered a non-adjusting post-balance sheet event and the impact of COVID-19, such as any

impairment considerations, will be reported in the 2021 financial statements.

9.	ULTIMATE CONTROLLING PARTY

The ultimate parent company is Tiga Investments (Henleaze) Limited, a company registered at 2

Oakfield Road, Clifton, Bristol, BS8 2AL, United Kingdom.

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain

other primary statements and the Report of the Directors are not required to be filed with the

Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of CDF (No.31) Limited for the year ended 30 April 2020 which comprise

the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the

company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of CDF (No.31) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of CDF (No.31) Limited and state those matters that we have agreed to state to the Board of Directors of CDF (No.31) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than CDF (No.31) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that CDF (No.31) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of CDF (No.31) Limited. You consider that CDF (No.31) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of CDF (No.31) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

PJE Chartered Accountants

2 Oakfield Road

Clifton

Bristol

BS8 2AL

21 August 2020